# EDGAR Filing Document

**Accession Number:** 0002062583
**File Stem:** 0001628280-26-016018
**Filing Date:** 2026-3
**Character Count:** 1730617
**Document Hash:** 52ad7fb321e3dd993924b42baf498125
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-26-016018.hdr.sgml**: 20260309

**ACCESSION NUMBER**: 0001628280-26-016018

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 36

**CONFORMED PERIOD OF REPORT**: 20260305

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Completion of Acquisition or Disposition of Assets

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260309

**DATE AS OF CHANGE**: 20260309

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MiniMed Group, Inc.
- **CENTRAL INDEX KEY:** 0002062583
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 333985981
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-43183
- **FILM NUMBER:** 26735077

**BUSINESS ADDRESS:**
- **STREET 1:** 18000 DEVONSHIRE ST.
- **CITY:** NORTHRIDGE
- **STATE:** CA
- **ZIP:** 91325
- **BUSINESS PHONE:** 763-222-9423

**MAIL ADDRESS:**
- **STREET 1:** 18000 DEVONSHIRE ST.
- **CITY:** NORTHRIDGE
- **STATE:** CA
- **ZIP:** 91325

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MDT Sub Holdings, Inc.
- **DATE OF NAME CHANGE:** 20250320

?xml version='1.0' encoding='ASCII'? mmed-20260305

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**_____________________**

**FORM 8-K**

**_____________________**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): March 5, 2026**

**___________________________________________________**

**MiniMed Group, Inc.**

**(Exact name of registrant as specified in its charter)**

**___________________________________________________**

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| | | |
|:---|:---|:---|
| **Delaware** | **001-43183** | **33-3985981** |
| **(State or other jurisdiction of incorporation)** | **(Commission File Number)** | **(I.R.S. Employer Identification No.)** |

---

**18000 Devonshire St.**

**Northridge, CA 91325**

**(Address of principal executive offices) (Zip Code)**

**(763) 514-4000**

**(Registrant's telephone number, including area code)**

**Not Applicable**

**(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:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of exchange on which registered** |
| Common Stock, $0.01 par value | MMED | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 1.01. Entry into a Material Definitive Agreement.**

On March 9, 2026, MiniMed Group, Inc., a Delaware corporation (the "<u>Company</u>"), completed its previously announced initial public offering (the "<u>IPO</u>") of 28,000,000 shares of its common stock, par value $0.01 per share (the "<u>Common Stock</u>"), at an initial public offering price of $20.00 per share.

Prior to the IPO, the Company was a wholly owned subsidiary of Medtronic plc, an Irish public limited company ("<u>Medtronic</u>"). Prior to and in connection with the IPO, the Company entered into a series of transactions with Medtronic pursuant to which Medtronic transferred the assets and liabilities of its Diabetes business to the Company, and the Company issued to Medtronic shares of Common Stock (such series of transactions, the "<u>Separation</u>"). On March 5 2025, as part of the Separation, the Company's Common Stock was converted from 100 shares of Common Stock to 252,813,348 shares of Common Stock.

As previously contemplated by, and described in, the Registration Statement on Form S-1, as amended (File No. 333-292284), filed by the Company with the Securities and Exchange Commission (the "<u>SEC</u>") and declared effective on March 5, 2026, the Company (i) retained $309 million of the net proceeds from the IPO such that, as of March 9, 2026, it has approximately $350 million of cash on hand, which it will use for general corporate purposes, and (ii) used the excess of the net proceeds from the IPO over $309 million to repay (or cause one or more of the Company's subsidiaries to repay) intercompany debt owed to Medtronic under a note. As a result of the IPO, Medtronic currently owns approximately 90.03% of the outstanding shares of Common Stock.

On March 1, 2026, in connection with the Separation, Kangaroo US HoldCo 2, Inc., an indirect wholly owned subsidiary of Medtronic ("<u>KH2</u>"), and certain subsidiaries of KH2 entered into various agreements with Medtronic which provide a framework for the Company's relationship with Medtronic following the Separation. On March 5, 2026, the Company entered into a merger agreement with KH2 and KH2 merged with and into the Company, with the Company surviving the merger.

The Company's agreements with Medtronic consist of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Separation Agreement, which sets forth the Company's agreements with Medtronic regarding the principal actions to be taken in connection with the Separation and governs, among other matters, (1) the allocation of assets and liabilities to the Company and Medtronic (including the Company's indemnification obligations, for potentially uncapped amounts, for certain liabilities relating to the Company's business activities, whether incurred prior to or following the completion of the IPO) and (2) certain matters with respect to the IPO and Medtronic's intended tax-free distribution to its shareholders of all or a portion of its remaining equity interest in the Company (such distribution, the "<u>Divestment</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Tax Matters Agreement, which governs the Company and Medtronic's respective rights, responsibilities, and obligations with respect to tax matters, including tax liabilities (including responsibility and potential indemnification obligations for taxes attributable to the Company's business and taxes arising, under certain circumstances, in connection with the Separation and the Divestment, if pursued), tax attributes, tax contests, and tax returns. In addition, the Tax Matters Agreement imposes certain restrictions on the Company and its subsidiaries (including, among others, restrictions on share issuances, business combinations, sales of assets, and similar transactions) intended to preserve the tax-free status of various transactions related to the Separation and the Divestment, if pursued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Employee Matters Agreement, which addresses certain employment, compensation, and benefits matters, including the allocation and treatment of certain assets and liabilities relating to the Company's employees, the treatment of outstanding Medtronic equity awards held by the Company's employees, and compensation and benefit plans and programs in which the Company's employees participate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• MGH-MM Intellectual Property Cross-License Agreement and MPLC-MHSS Intellectual Property Cross-License Agreement, which provide for cross-licenses that give the Company and Medtronic the freedom to operate in their respective businesses.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Transitional Trademark Cross-License Agreement and Trademark Co-Existence Agreement, which collectively govern the Company and Medtronic's respective rights, responsibilities, and obligations with respect to intellectual property rights in trademarks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Transition Services Agreement, pursuant to which Medtronic provides to the Company and the Company provides to Medtronic certain services for a limited period of time following the completion of the Separation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Registration Rights Agreement, pursuant to which the Company has granted Medtronic certain registration rights with respect to the shares of Common Stock owned by Medtronic following the completion of the IPO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Juncos Lease and Master Services Agreements, pursuant to which the Company provides a long-term lease and related services to Medtronic for a portion of the Company's Juncos, Puerto Rico facility.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Transition Manufacturing and Supply Agreement, pursuant to which Medtronic and its affiliates provide the Company, on a transitional basis, with certain manufacturing and assembly services with respect to certain products.

These descriptions do not purport to be complete and are qualified in their entirety by reference to the full text of the agreements, which are filed herewith as Exhibits 10.1 through 10.12 and incorporated herein by reference.

**Item 2.01. Completion of Acquisition or Disposition of Assets.**

The description of the Company's merger with KH2 set forth under Item 1.01 above is incorporated herein by reference.

**Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.**

On January 15, 2026, KH2 entered into a credit agreement which provides for a five-year senior secured revolving credit facility (the "<u>Revolving Credit Facility</u>") in an aggregate principal amount of $500 million to be made available in U.S. dollars and certain approved alternative currencies, initially including Euros, with Citibank, N.A. serving as administrative agent for a syndicate of lenders. Subject to the conditions to the borrowing therein, the commitments under the Revolving Credit Facility became available upon the consummation of the IPO, whereupon KH2 merged with and into the Company, with the Company surviving the Merger and continuing as the borrower. The proceeds of the loans under the Revolving Credit Facility will be used for working capital and other general corporate purposes. The Revolving Credit Facility permits, subject to specified conditions, one or more of the Company's wholly owned subsidiaries to be added as additional borrowers.

Interest is payable on the loans under the Revolving Credit Facility at (1) in the case of borrowings denominated in U.S. dollars, Term SOFR (or, at the borrower's option, the base rate) and (2) in the case of borrowings denominated in Euros, EURIBOR, plus, in each case, a margin determined pursuant to a pricing grid based on the Company's secured net leverage ratio. The commitment fees and letter of credit fees under the Revolving Credit Facility are determined based upon the same grid. Interest payments are due (1) in the case of Term SOFR or EURIBOR borrowings, on the last day of each interest period applicable to the borrowing (or, in the case of any borrowing with an interest period of more than three months' duration, every three months) and (2) in the case of base rate borrowings, on the last business day of each March, June, September, and December.

The Revolving Credit Facility also contains representations and warranties, covenants, and events of default that are customary for this type of financing, including financial maintenance covenants and covenants restricting, inter alia, the incurrence of liens and indebtedness, the sale of assets, the making of restricted payments, investments and certain debt prepayments, and the entry into certain merger transactions. The obligations of the Company under the Revolving Credit Facility are guaranteed by certain wholly owned subsidiaries of the Company and secured by certain assets of such subsidiaries.

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**Item 3.02. Unregistered Sales of Equity Securities.**

The information set forth under Item 1.01 above is incorporated herein by reference.

**Item 3.03. Material Modifications to Rights of Security Holders.**

The information set forth under Item 5.03 below is incorporated herein by reference.

**Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

*Reconstitution of the Board*

In connection with the Separation, effective as of March 6, 2026, Brian Sandstrom resigned from the Company's board of directors (the "<u>Board</u>"), and the size of the Board was increased from one to nine members. Kevin E. Lofton was appointed as Chair of the Board, and Que Dallara, Glenn Eisenberg, D. Keith Grossman, Robert (Bob) A. Hopkins, Laura Mauri, Brett A. Wall, Matthew (Matt) R. Walter, and Timothy (Tim) A. Wicks were appointed as members of the Board. For further biographical details regarding the members of the Board, see the biographical information set forth in the section entitled "Management—Directors" in the prospectus (File No. 333-292284) filed by the Company with the SEC on March 6, 2026 pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (such prospectus, the "<u>Prospectus</u>"), which biographical information is incorporated herein by reference. Bob Hopkins, Laura Mauri, Brett Wall, and Matt Walter are employees of Medtronic and were nominated as members of the Board while the Company was operating as the Diabetes Operating Unit of Medtronic. Except as described in the immediately preceding sentence, there are no arrangements or understandings between any of the directors and any other persons pursuant to which each such director was selected to serve as a director. There are no transactions in which any director has a direct or indirect material interest requiring disclosure under Item 404(a) of Regulation S-K.

The Board is divided into three classes, denominated as class I, class II, and class III. Members of each class will hold office for staggered three-year terms. At each annual meeting of the Company's stockholders beginning in 2026, the successors to the directors whose term expires at that meeting will be elected to serve until the third annual meeting after their election or until their successors have been elected and qualified. D. Keith Grossman, Kevin Lofton, and Tim Wicks will serve as class I directors whose terms expire at the 2026 annual meeting of stockholders. Laura Mauri, Brett Wall, and Matt Walter will serve as class II directors whose terms expire at the 2027 annual meeting of stockholders. Que Dallara, Glenn Eisenberg, and Bob Hopkins will serve as class III directors whose terms expire at the 2028 annual meeting of stockholders.

*Committees of the Board*

The Board has the following standing committees: (1) the Audit Committee, (2) the Compensation and Talent Committee, and (3) the Nominating and Corporate Governance Committee. The members of the Audit Committee are Glenn Eisenberg, D. Keith Grossman, and Tim Wicks, with Glenn Eisenberg serving as Chair of the Audit Committee. The members of the Compensation and Talent Committee are Kevin Lofton, Laura Mauri, Matt Walter, and Tim Wicks, with Tim Wicks serving as Chair of the Compensation and Talent Committee. The members of the Nominating and Corporate Governance Committee are D. Keith Grossman, Bob Hopkins, Kevin Lofton, and Brett Wall, with Kevin Lofton serving as Chair of the Nominating and Corporate Governance Committee.

*Non-Employee Director Compensation Policy*

Effective upon the completion of the IPO on March 9, 2026, the Board adopted the MiniMed Group, Inc. Non-Employee Director Compensation Policy (the "<u>Director Compensation Policy</u>"), which sets forth the compensation to be paid to members of the Board who are not then serving as employees of the Company, Medtronic, or their respective subsidiaries or affiliates (each, a "<u>Non-Employee Director</u>").

Pursuant to the Director Compensation Policy, each Non-Employee Director has the opportunity to earn: (i) an annual cash retainer of $70,000; (ii) an additional annual cash retainer of $70,000 for the non-executive Chair of the Board; (iii) an annual equity award in the form of restricted stock units with a grant date target value of $250,000,

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which will vest on the first anniversary of the applicable grant date; (iv) additional annual committee member cash retainers; and (v) additional annual committee chair cash retainers, in each case inclusive of the applicable committee member retainer. For further details regarding the compensation of Non-Employee Directors, see the description set forth in the section of the Prospectus entitled "Executive and Director Compensation—Director Compensation Matters—Director Compensation."

The foregoing description of the Director Compensation Policy does not purport to be complete and is qualified in its entirety by reference to the full text of the Director Compensation Policy, a copy of which is filed herewith as Exhibit 10.13 and incorporated herein by reference.

*Restricted Stock Unit Awards to the Non-Employee Directors of the Board*

On March 9, 2026, upon completion of the IPO, the Board granted restricted stock unit awards under the MiniMed LTIP (as defined below) to each of Glenn Eisenberg, D. Keith Grossman, Kevin Lofton, and Tim Wicks, as the Non-Employee Directors of the Board, received as an additional one-time award in recognition of each Non-Employee Director's contributions prior to the IPO (the "<u>IPO Non-Employee Director Grants</u>"). The number of restricted stock units granted to each Non-Employee Director was determined by dividing the applicable grant date target value of $250,000 (or, in the case of Kevin Lofton as Chairman of the Board, $500,000) by the closing price of a share of Company common stock on March 9, 2026. The IPO Non-Employee Director Grants will vest in full (100%) on the first anniversary of the completion of the IPO, generally subject to the continued service of the Non-Employee Director through the vesting date.

Each IPO Non-Employee Director Grant is evidenced by a grant agreement that is consistent with the Form of Non-Employee Director RSU Award Agreement. The foregoing description of the IPO Non-Employee Director Grants does not purport to be complete and is qualified in its entirety by reference to the Form of Non-Employee Director RSU Award Agreement, a copy of which is filed herewith as Exhibit 10.14 and incorporated herein by reference.

*Appointment of Certain Officers*

In connection with the Separation, as of March 6, 2026, all of the officers of the Company were removed and the following individuals became officers of the Company:

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| | |
|:---|:---|
| **Name** | **Position** |
| Que Dallara | Chief Executive Officer and Director Nominee |
| Chad Spooner | Executive Vice President & Chief Financial Officer |
| Ali Dianaty | Executive Vice President, Chief Product & Technology Officer |
| Courtney Nelson Wills | Senior Vice President, General Counsel |
| Gillian Chandrasena | Senior Vice President, Chief Human Resources Officer |
| John Gyurci | Vice President, Chief Accounting Officer and Controller |

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For biographical details regarding Que Dallara, Chad Spooner, Ali Dianaty, Courtney Nelson Wills, and Gillian Chandrasena, see the biographical information set forth in the section of the Prospectus entitled "Management—Executive Officers," which biographical information is incorporated herein by reference. The biographical information for John Gyurci is set forth below.

*John Gyurci*, 55, serves as the Vice President, Chief Accounting Officer and Controller of the Company. John Gyurci previously served as Vice President, Chief Accounting Officer of the Diabetes Operating Unit at Medtronic from November 2025 to March 2026. Prior that, Mr. Gyurci served as Chief Accounting Officer of Sun Country Airlines Holdings, Inc. from October 2018 to November 2025, Corporate Controller at MTS Systems Corporation from October 2017 to October 2018, Vice President of Financial Accounting & Reporting at Merrill Corporation from July 2011 to October 2017, and Managing Director of Corporate Accounting & Reporting at Northwest Airlines. Mr. Gyurci holds a B.A. in Accounting from the University of St. Thomas in St. Paul, Minnesota and is a CPA (inactive status) in the state of Minnesota.

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There are no arrangements or understandings between any of these officers and any other persons pursuant to which each such officer was selected to serve as an officer. There are no transactions in which any of these officers has a direct or indirect material interest requiring disclosure under Item 404(a) of Regulation S-K.

*MiniMed Group, Inc. Long Term Incentive Plan* 

In connection with the Separation, the Company adopted the MiniMed Group, Inc. 2026 Long Term Incentive Plan (the "<u>MiniMed LTIP</u>"). For further details regarding the MiniMed LTIP, see the description of the MiniMed LTIP set forth in the section of the Prospectus entitled "Executive and Director Compensation—Future Compensation Programs—Long Term Incentive Plan." This description does not purport to be complete and is qualified in its entirety by reference to the full text of the MiniMed LTIP, which is filed herewith as Exhibit 10.15 and incorporated herein by reference.

*IPO Equity Grants to Named Executive Officers*

On March 9, 2026, the Compensation and Talent Committee approved the grant of one-time equity awards under the MiniMed LTIP (collectively, the "<u>IPO Grants</u>") to certain employees of the Company, including each of the following officers; Que Dallara, Chad Spooner, Ali Dianaty, Courtney Nelson Wills, Gillian Chandrasena and John Gyurci) (each, an "<u>Office</u>r"), in recognition of each recipient's contributions prior to the IPO and to incentivize performance following the IPO.

The IPO Grants include nonqualified stock options ("<u>NQSOs</u>"), which were granted at an exercise price per share equal to the closing price of Company common stock on March 9, 2026 (the "<u>Grant Date</u>"). The value of these NQSOs was $1,500,000 for Que Dallara, $500,000 for Chad Spooner, $750,000 for Ali Dianaty, $375,000 for Courtney Nelson Wills and Gillian Chandrasena, and $150,000 for John Gyurci. Each NQSO expires ten (10) years from the Grant Date and vests as to one-third (1/3) of the award on each of the second, third, and fourth anniversaries of the Grant Date, generally subject to the Officer's continued service through the applicable vesting date.

The IPO Grants also include performance-based restricted stock unit awards. The number of performance-based restricted stock units granted to each Officer was determined by dividing the applicable target grant date value ($1,500,000 for Que Dallara, $500,000 for Chad Spooner, $250,000 for Ali Dianaty, $125,000 for Courtney Nelson Wills and Gillian Chandrasena, and $50,000 for John Gyurci) by the closing price of Company common stock on the Grant Date. Such performance-based restricted stock units are eligible to vest in full (100%) on the first anniversary of the Grant Date, generally subject to the Officer's continued service through the vesting date and subject to the Company's achievement of a target closing price per share of Company common stock on the Divestment Date. If such stock price is not achieved, then no performance-based restricted stock units will vest.

Each NQSO and performance-based restricted stock unit is evidenced by an award agreement that is consistent with the Form of IPO NQSO Award Agreement or Form of IPO PSU Award Agreement, as applicable, as adopted by the Compensation and Talent Committee. The foregoing descriptions of the IPO Grants do not purport to be complete and are qualified in their entirety by reference to the full texts of the applicable forms of award agreement, which are filed herewith as Exhibits 10.16 and 10.17, respectively, and are incorporated herein by reference.

*MiniMed Group, Inc. Employee Stock Purchase Plan*

In connection with the Separation, the Company adopted the MiniMed Group, Inc. 2026 Employee Stock Purchase Plan (the "<u>MiniMed ESPP</u>"). For further details regarding the MiniMed ESPP, see the description of the MiniMed ESPP set forth in the section of the Prospectus entitled "Executive and Director Compensation—Future Compensation Programs—Employee Stock Purchase Plan." This description does not purport to be complete and is qualified in its entirety by reference to the full text of the MiniMed ESPP, which is filed herewith as Exhibit 10.18 and incorporated herein by reference.

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*MiniMed Group, Inc. Capital Accumulation Plan*

In connection with the Separation, the Company adopted the MiniMed Group, Inc. Capital Accumulation Plan (the "<u>MiniMed CAP</u>"). The MiniMed CAP is an unfunded nonqualified deferred compensation plan, maintained primarily for the benefit of a select group of management and highly compensated employees, which allows eligible participants to make voluntary deferrals of base salary and incentive compensation. The MiniMed CAP does not provide for Company contributions or subsidized or guaranteed returns; deferred amounts are credited with gains or losses based on deemed investment in participant-selected notional investment alternatives.

Under the MiniMed CAP, eligible U.S.-based executives may elect to defer up to 50% of their base salary (subject to a minimum deferral threshold) and up to 80% of their annual incentive payments per plan year. Deferred amounts are credited daily with gains or losses based on the performance of notional investment alternatives selected by the participant from among those designated by the plan administrator from time to time. Distributions are made in cash pursuant to participant elections at the time of the applicable deferral, subject to the requirements of Section 409A of the Internal Revenue Code, including applicable restrictions on acceleration and re-deferral. The MiniMed CAP was established in connection with the Separation, and certain liabilities with respect to Company employees who previously participated in Medtronic's Capital Accumulation Plan Deferral Program were transferred to and assumed by the MiniMed CAP as of the effective date thereof pursuant to the Employee Matters Agreement.

The foregoing description does not purport to be complete and is qualified in its entirety by reference to the full text of the MiniMed CAP, which is filed herewith as Exhibit 10.19 and incorporated herein by reference.*MiniMed Group, Inc. Nonqualified Retirement Plan Supplement*

In connection with the Separation, the Company adopted the MiniMed Group, Inc. Nonqualified Retirement Plan Supplement (the "<u>MiniMed NRPS</u>"). The MiniMed NRPS is an unfunded nonqualified deferred compensation plan maintained primarily for the benefit of a select group of management and highly compensated employees. The MiniMed NRPS provides participating employees with the ability to defer compensation and receive company matching and core company credits that cannot be made under the Company's qualified retirement savings plan due to limitations imposed by the Internal Revenue Code. The MiniMed NRPS was established in connection with the Separation, and certain liabilities with respect to Company employees who previously participated in Medtronic's Nonqualified Retirement Plan Supplement were transferred to and assumed by the MiniMed NRPS as of the effective date thereof pursuant to the Employee Matters Agreement.

The foregoing description does not purport to be complete and is qualified in its entirety by reference to the full text of the MiniMed NRPS, which is filed herewith as Exhibit 10.20 and incorporated herein by reference.

*Conversion of Medtronic Equity Awards*

Pursuant to the Employee Matters Agreement, outstanding Medtronic RSU Awards, certain Medtronic PSU Awards, and Medtronic Dividend Equivalent Units (each as defined in the Employee Matters Agreement) held by employees of the Company and its subsidiaries will be converted into SplitCo RSU Awards, SplitCo Dividend Equivalent Units, and SplitCo DSU Awards (each as defined in the Employee Matters Agreement), in each case in accordance with the conversion ratio set forth in the Employee Matters Agreement. The SplitCo RSU Awards, SplitCo Dividend Equivalent Units, and SplitCo DSU Awards will continue to vest in accordance with and otherwise be subject to the same terms as applied to such awards prior to the conversion but will instead relate to shares of Common Stock. On March 9, 2026, the Compensation and Talent Committee, in its capacity as Administrator of the MiniMed LTIP, approved the conversion of such Medtronic equity awards into Company equity awards as described above.

For further information regarding the conversion of Medtronic equity awards, see the description of the Employee Matters Agreement set forth in the section of the Prospectus entitled "Certain Relationships and Related Party Transactions — Employee Matters Agreement," which description is incorporated herein by reference.

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**Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**

*Amendment and Restatement of Certificate of Incorporation*

On March 6, 2026, the Company amended and restated its certificate of incorporation (as so amended and restated, the "<u>Certificate of Incorporation</u>"). For further details regarding the Certificate of Incorporation, see the description of the Certificate of Incorporation set forth in the section of the Prospectus entitled "Description of Capital Stock." This description does not purport to be complete and is qualified in its entirety by reference to the full text of the Certificate of Incorporation, which is filed herewith as Exhibit 3.1 and incorporated herein by reference.

*Amendment and Restatement of Bylaws*

On March 6, 2026, the Company amended and restated its bylaws (as so amended and restated, the "<u>Bylaws</u>"). For further details regarding the Bylaws, see the description of the Bylaws set forth in the section of the Prospectus entitled "Description of Capital Stock." This description does not purport to be complete and is qualified in its entirety by reference to the full text of the Bylaws, which are filed herewith as Exhibit 3.2 and incorporated herein by reference.

**Item 7.01. Regulation FD Disclosure.**

On March 9, 2026, the Company issued a press release announcing the closing of the IPO. A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference.

The information in this Item 7.01 (including Exhibit 99.1) shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth in such a filing.

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**Item 9.01 Financial Statements and Exhibits.**

**(d) Exhibits.**

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 3.1 | <u>[Second Amended and Restated Certificate of Incorporation of MiniMed Group, Inc.](exhibit31-8xk.htm)</u> |
| 3.2 | <u>[Amended and Restated Bylaws of MiniMed Group, Inc.](exhibit32-8xk.htm)</u> |
| 10.1 | <u>[Separation Agreement, dated as of March 1, 2026, by and between Kangaroo US HoldCo 2, Inc. and Medtronic Group Holding, Inc. #](exhibit101-8xk.htm)</u> |
| 10.2 | <u>[Tax Matters Agreement, dated as of March 1, 2026, by and between Kangaroo US HoldCo 2, Inc. and Medtronic Group Holding, Inc. #](exhibit102-8xk.htm)</u> |
| 10.3 | <u>[Employee Matters Agreement, dated as of March 1, 2026, by and between Kangaroo US HoldCo 2, Inc. and Medtronic Group Holding, Inc. #](exhibit103-8xk.htm)</u> |
| 10.4 | <u>[MGH-MM Intellectual Property Cross-License Agreement, dated as of March 1, 2026, by and between Medtronic MiniMed, Inc. and Medtronic Group Holding, Inc. #](exhibit104-8xk.htm)</u> |
| 10.5 | <u>[MPLC-MHSS Intellectual Property Cross-License Agreement, dated as of March 1, 2026, by and between MiniMed Holdings Switzerland Sarl and Medtronic plc #](exhibit105-8xk.htm)</u> |
| 10.6 | <u>[Transitional Trademark Cross-License Agreement, dated as of March 1, 2026, by and between Kangaroo US HoldCo 2, Inc. and Medtronic Group Holding, Inc. #](exhibit106-8xk.htm)</u> |
| 10.7 | <u>[Co-Existence Agreement, dated as of March 1, 2026, by and between Kangaroo US HoldCo 2, Inc. and Medtronic Group Holding, Inc. #](exhibit107-8xk.htm)</u> |
| 10.8 | <u>[Transition Services Agreement, dated as of March 1, 2026, by and between Kangaroo US HoldCo 2, Inc. and Medtronic Group Holding, Inc. #](exhibit108-8xk.htm)</u> |
| 10.9 | <u>[Registration Rights Agreement, dated as of March 1, 2026, by and between Kangaroo US HoldCo 2, Inc. and Medtronic plc](exhibit109-8xk.htm)</u> |
| 10.10 | <u>[Lease Agreement, dated as of March 1, 2026, by and between MiniMed Puerto Rico Operations LLC and Medtronic Puerto Operations Co. #](exhibit1010-8xk.htm)</u> |
| 10.11 | <u>[Master Services Agreement, dated as of March 1, 2026, by and between MiniMed Puerto Rico Operations LLC and Medtronic Puerto Operations Co. #](exhibit1011-8xk.htm)</u> |
| 10.12 | <u>[Transition Manufacturing and Supply Agreement, dated as of March 1, 2026, by and between Medtronic MiniMed, Inc. and Medtronic, Inc. #](exhibit1012-8xk.htm)</u> |
| 10.13 | <u>[MiniMed Group, Inc. Non-Employee Director Compensation Policy](exhibit1013-8xk.htm)</u> |
| 10.14 | <u>[Form of Non-Employee Director RSU Award Agreement](exhibit1014-8xk.htm)</u> |
| 10.15 | <u>[MiniMed Group, Inc. Long Term Incentive Plan](exhibit1015-8xk.htm)</u> |
| 10.16 | <u>[Form of IPO NQSO Award Agreement](exhibit1016-8xk.htm)</u> |
| 10.17 | <u>[Form of IPO PSU Award Agreement](exhibit1017-8xk.htm)</u> |
| 10.18 | <u>[MiniMed Group, Inc. Employee Stock Purchase Plan](exhibit1018-8xk.htm)</u> |
| 10.19 | <u>[MiniMed Group, Inc. Capital Accumulation Pla](exhibit1019-8xk.htm)[n #](exhibit1019-8xk.htm)</u> |
| 10.20 | <u>[MiniMed Group, Inc. Nonqualified Retirement Plan Supplemen](exhibit1020-8xk.htm)[t #](exhibit1020-8xk.htm)</u> |
| 99.1 | <u>[Press release, dated March 9, 2026](exhibit991-8xk.htm)</u> |
| 104 | Cover page interactive data file (embedded within the Inline XBRL document). |

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__________________

#&nbsp;&nbsp;&nbsp;&nbsp;Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The registrant agrees to furnish supplementally a copy of any omitted schedule or exhibit to the SEC upon its request.

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**SIGNATURES**

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.

---

| | | |
|:---|:---|:---|
| | MiniMed Group, Inc. | MiniMed Group, Inc. |
| Date: March 9, 2026 | By: | /s/ Chad Spooner |
|  | Name: | Chad Spooner |
|  | Title: | Executive Vice President & Chief Financial Officer |

---

## Exhibit 3.1

**Exhibit 3.1**

**SECOND AMENDED AND RESTATED**

**CERTIFICATE OF INCORPORATION OF**

**MINIMED GROUP, INC.**

MiniMed Group, Inc., a corporation organized and existing under the laws of the State of Delaware (the "<u>Corporation</u>"), DOES HEREBY CERTIFY AS FOLLOWS:

**FIRST**: The Corporation was incorporated by the filing of its original Certificate of Incorporation with the Secretary of State of Delaware on February 27, 2025 under the name "Wallabies Inc." (as amended, through the date hereof, the "<u>Certificate of Incorporation</u>").

**SECOND**: The Corporation amended the Certificate of Incorporation on March 13, 2025 to reflect a change in the name of the Corporation to "MDT Sub Holdings, Inc."

**THIRD**: The Corporation amended the Certificate of Incorporation on July 21, 2025 to reflect a change in the name of the Corporation to "MiniMed Group, Inc."

**FOURTH**: The Second Amended and Restated Certificate of Incorporation attached hereto as Exhibit A and incorporated herein by reference (the "<u>Restated Certificate</u>") integrates, restates and further amends the Certificate of Incorporation in its entirety to read as set forth therein.

**FIFTH**: The Restated Certificate was duly adopted in accordance with the provisions of Sections 242 and 245 of the General Corporation Law of the State of Delaware and by the written consent of its stockholders in accordance with Section 228 of the General Corporation Law of the State of Delaware.

\* \* \* \* \*

IN WITNESS WHEREOF, MiniMed Group, Inc. has caused this Second Amended and Restated Certificate of Incorporation to be executed by its duly authorized officer on this sixth day of March 2026.

MINIMED GROUP, INC.,

---

| | |
|:---|:---|
| by | |
| | /s/ Brian Sandstrom |
| | Name: Brian Sandstrom |
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secretary |

---

------

**Exhibit A**

**SECOND AMENDED AND RESTATED**

**CERTIFICATE OF INCORPORATION OF**

**MINIMED GROUP, INC.**

**ARTICLE ONE**

The name of the corporation is MiniMed Group, Inc. (the "<u>Corporation</u>").

**ARTICLE TWO**

The address of the Corporation's registered office in the State of Delaware is 251 Little Falls Drive, City of Wilmington, County of New Castle, Delaware 19808, and the name of the registered agent whose office address will be the same as the registered office is Corporation Service Company.

**ARTICLE THREE**

The nature and purpose of the business of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware ("<u>DGCL</u>").

**ARTICLE FOUR**

SECTION 1&nbsp;&nbsp;&nbsp;&nbsp;<u>Authorized Shares</u>. The total number of shares of all classes of capital stock which the Corporation shall have authority to issue is 1,100,000,000 shares, consisting of two classes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;1,000,000,000 shares of Common Stock, par value $0.01 per share (the "<u>Common</u> <u>Stock</u>"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;100,000,000 shares of Preferred Stock, par value $0.01 per share (the "<u>Preferred Stock</u>").

SECTION 2&nbsp;&nbsp;&nbsp;&nbsp;<u>Common Stock</u>. Except as otherwise provided by the DGCL or this amended and restated certificate of incorporation (as it may be amended and/or restated, the "<u>Certificate of Incorporation</u>") and subject to the rights of holders of any series of Preferred Stock then outstanding, all of the voting power of the stockholders of the Corporation shall be vested in the holders of the Common Stock. Each share of Common Stock shall entitle the holder thereof to one vote for each share held by such holder on all matters voted upon generally by the stockholders of the Corporation; <u>provided</u>, <u>however</u>, that, except as otherwise required by law, holders of Common Stock, as such, shall not be entitled to vote on any amendment to this Certificate of Incorporation (including any certificate of designation relating to any series of Preferred Stock) that relates solely to the terms of one or more outstanding series of Preferred Stock if the holders of such affected series are entitled, either separately or together with the holders of one or more other such series, to vote thereon pursuant to this Certificate of Incorporation (including any certificate of designation relating to any series of Preferred Stock) or pursuant to the DGCL. Subject to the rights of the holders of any series of Preferred Stock, the number of authorized shares of Common Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by a vote of the holders of the outstanding shares of capital stock of the Corporation entitled to vote thereon, voting as a single class, irrespective of the provisions of Section 242(b)(2) of the DGCL.

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SECTION 3&nbsp;&nbsp;&nbsp;&nbsp;<u>Preferred Stock</u>. The Board of Directors is authorized, subject to limitations prescribed by law, to provide, by resolution or resolutions for the issuance of shares of Preferred Stock in one or more series, and with respect to each series, to establish the number of shares to be included in each such series, and to fix the voting powers (if any), designations, powers, preferences, and relative, participating, optional, or other special rights, if any, of the shares of each such series, and any qualifications, limitations or restrictions thereof. The powers (including voting powers), preferences, and relative, participating, optional and other special rights of each series of Preferred Stock and the qualifications, limitations or restrictions thereof, if any, may differ from those of any and all other series at any time outstanding. Subject to the rights of the holders of any series of Preferred Stock, the number of authorized shares of Preferred Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by a vote of the holders of the outstanding shares of capital stock of the Corporation entitled to vote thereon, voting as a single class, irrespective of the provisions of Section 242(b)(2) of the DGCL.

**ARTICLE FIVE**

SECTION 1&nbsp;&nbsp;&nbsp;&nbsp;<u>Board of Directors</u>. Except as otherwise provided in this Certificate of Incorporation, the business and affairs of the Corporation shall be managed by or under the direction of the Board of Directors.

SECTION 2&nbsp;&nbsp;&nbsp;&nbsp;<u>Number of Directors; Voting</u>. Subject to any rights of the holders of any series of Preferred Stock then outstanding to elect additional directors under specified circumstances or otherwise, the number of directors which shall constitute the Board of Directors shall be fixed from time to time exclusively by resolution of the Board of Directors. Each director shall be entitled to one vote with respect to each matter before the Board of Directors, whether by meeting or pursuant to written consent.

SECTION 3&nbsp;&nbsp;&nbsp;&nbsp;<u>Election and Term of Office</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Election</u>. Elections of directors need not be by written ballot unless the Bylaws of the Corporation (as they may be amended, the "<u>Bylaws</u>") shall so provide.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Classes of Directors</u>. Subject to the rights of the holders of any series of Preferred Stock then outstanding to elect directors, the Board of Directors shall be and is divided into three classes, designated Class I, Class II and Class III. Each class shall consist, as nearly as may be possible, of one-third of the total number of directors constituting the entire Board. The Board of Directors is authorized to assign members of the Board of Directors already in office to a class at the time such classification becomes effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Term of Office</u>. Subject to the rights of the holders of any series of Preferred Stock then outstanding to elect directors, each director shall serve for a term expiring at the third annual meeting of stockholders following the annual meeting of stockholders at which such director was elected; <u>provided</u> that each director initially assigned to Class I shall serve for a term expiring at the Corporation's first annual meeting of stockholders to be held in 2026; each director initially assigned to Class II shall serve for a term expiring at the Corporation's second annual meeting of stockholders to be held in 2027; and each director initially assigned to Class III shall serve for a term expiring at the Corporation's third annual meeting of stockholders to be held in 2028; <u>provided further</u>, that each director shall hold office until their

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successor is duly elected and qualified, or until their earlier death, resignation, disqualification or removal.

SECTION 4&nbsp;&nbsp;&nbsp;&nbsp;<u>Vacancies</u>. Subject to the rights of the holders of any series of Preferred Stock then outstanding, any newly created directorship on the Board of Directors that results from an increase in the number of directors or any vacancy occurring on the Board of Directors, however created, shall be filled only by resolution of a majority of the directors then in office, even if less than a quorum, or by a sole remaining director (other than directors elected by the holders of any series of Preferred Stock then outstanding) and may not be filled in any other manner. In the event of any increase in the authorized number of directors, the Board of Directors shall assign the class to which a newly created directorship shall be allocated. A director appointed to fill a vacancy resulting from the death, resignation, disqualification or removal of a director or other cause shall hold office for the unexpired term of such director's predecessor in office, and a director appointed to fill a newly created directorship shall hold office until the next election of the class for which such director shall have been assigned and, in each case, until their successor is duly elected and qualified, or until their earlier death, resignation, disqualification or removal. In no case will a decrease in the authorized number of directors have the effect of removing or shortening the term of any incumbent director.

SECTION 5&nbsp;&nbsp;&nbsp;&nbsp;<u>Removal, Resignation and Disqualification of Directors</u>. For so long as Medtronic (as defined in Section 2 of ARTICLE EIGHT) Beneficially Owns a majority of the voting power of all then-outstanding shares of Voting Stock, any director or the entire Board of Directors may be removed from office at any time, with or without cause, by an affirmative vote of any stockholders holding shares of capital stock representing, in the aggregate, a majority of the total voting power of the then-outstanding shares of all classes of capital stock of the Corporation, whether such vote is of Medtronic as a voting stockholder or Medtronic as a voting stockholder together with any other voting stockholders. From and after the first time at which Medtronic ceases to Beneficially Own a majority of the voting power of all then-outstanding shares of Voting Stock, subject to the rights of the holders of any series of Preferred Stock then outstanding and notwithstanding any other provision of this Certificate of Incorporation, directors may be removed, but only for cause, by the affirmative vote of the holders of at least two-thirds of the voting power of the then-outstanding shares of capital stock of the Corporation then entitled to vote generally in the election of directors (the "<u>Voting Stock</u>"). Any director may resign at any time upon written notice to the Corporation.

SECTION 6&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights of Holders of Preferred Stock</u>. During any period when the holders of any series of Preferred Stock, voting separately as a series or together with one or more series, have the right to elect additional directors, then upon commencement and for the duration of the period during which such right continues: (i) the then otherwise total authorized number of directors of the Corporation shall automatically be increased by such specified number of directors, and the holders of such Preferred Stock shall be entitled to elect the additional directors so provided for or fixed pursuant to said provisions, and (ii) each such additional director shall hold office until such director's successor shall have been duly elected and qualified, or until such director's right to hold such office terminates pursuant to said provisions, whichever occurs earlier, subject to their earlier death, resignation, disqualification or removal. Except as otherwise provided by the Board of Directors in the resolution or resolutions establishing such series, whenever the holders of any series of Preferred Stock having such right to elect additional directors are divested of such right pursuant to the provisions of such stock, the terms of office of all such additional directors elected by the holders of such series, or elected to fill any vacancies

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resulting from the death, resignation, disqualification or removal of such additional directors, shall forthwith terminate (in which case each such director thereupon shall cease to be qualified as, and shall cease to be, a director) and the total authorized number of directors of the Corporation shall automatically be reduced accordingly.

SECTION 7&nbsp;&nbsp;&nbsp;&nbsp;<u>Advance Notice</u>. Advance notice of stockholder nominations for the election of directors and of business to be brought by stockholders before any meeting of the stockholders of the Corporation shall be given in the manner provided in the Bylaws.

**ARTICLE SIX**

SECTION 1&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation of Liability</u>. To the fullest extent permitted by the DGCL as it now exists or may hereafter be amended (but, in the case of any such amendment, only to the extent such amendment permits the Corporation to provide broader exculpation than permitted prior thereto), no director or officer of the Corporation shall be liable to the Corporation or its stockholders for monetary damages arising from a breach of fiduciary duty as a director or officer, respectively.

SECTION 2&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification</u>. To the fullest extent permitted by applicable law, the Corporation is authorized to provide indemnification of (and advancement of expenses to) directors, officers, employees and agents of the Corporation (and any other persons to which the DGCL permits the Corporation to provide indemnification), through provisions in the Bylaws, agreements with such directors, officers, employees or agents or other persons, vote of stockholders or disinterested directors or otherwise, in excess of the indemnification and advancement otherwise permitted by Section 145 of the DGCL.

SECTION 3&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendment of this Article</u>. No amendment, repeal or modification of this ARTICLE SIX, nor the adoption of any provision of this Certificate of Incorporation inconsistent with this ARTICLE SIX, shall (a) adversely affect any right or protection of a director, officer or agent of the Corporation existing at the time of such amendment, repeal or modification with respect to any act, omission or other matter occurring prior to such amendment, repeal or modification or (b) increase the liability of any director, officer, employee or agent of the Corporation with respect to any acts or omissions of such director, officer, employee or agent occurring prior to, such amendment, repeal or modification.

**ARTICLE SEVEN**

SECTION 1&nbsp;&nbsp;&nbsp;&nbsp;<u>Action by Written Consent</u>. Subject to Section 211(b) of the DGCL and subject to the rights of the holders of any series of Preferred Stock then outstanding, for so long as Medtronic Beneficially Owns a majority of the voting power of all then-outstanding shares of Voting Stock, any action which is required or permitted to be taken by the Corporation's stockholders may be taken without a meeting, without prior notice and without a vote if a consent or consents in writing, setting forth the action so taken, is signed by the holders of outstanding stock of the Corporation having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares of the Corporation's stock entitled to vote thereon were present and voted. From and after the first time at which Medtronic no longer Beneficially Owns a majority of the voting power of all then-outstanding shares of Voting Stock, any action which is required or permitted to be taken by the Corporation's stockholders may be taken only at a duly called annual or special meeting of the

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Corporation's stockholders and the Corporation's stockholders shall not have the ability to consent in writing without a meeting. Notwithstanding the foregoing, any action required or permitted to be taken by the holders of any series of Preferred Stock, voting separately as a series or separately as a class with one or more other such series, may be taken without a meeting, without prior notice and without a vote, unless expressly prohibited in the resolutions creating such series of Preferred Stock.

SECTION 2&nbsp;&nbsp;&nbsp;&nbsp;<u>Special Meetings of Stockholders</u>. Subject to the rights of the holders of any series of Preferred Stock then outstanding and to the requirements of applicable law, special meetings of stockholders of the Corporation may be called only by or at the direction of (i) the Chair of the Board of Directors, (ii) the Board of Directors pursuant to a written resolution adopted by the affirmative vote of the majority of the total number of directors that the Corporation would have if there were no vacancies or (iii) the Chief Executive Officer. No other person or persons shall have the ability to call a special meeting of stockholders. Any business transacted at any special meeting of stockholders shall be limited to the purpose or purposes stated in the notice of the meeting.

SECTION 3&nbsp;&nbsp;&nbsp;&nbsp;<u>No Cumulative Voting</u>. No stockholder shall be entitled to exercise any right of cumulative voting.

**ARTICLE EIGHT**

SECTION 1&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Acknowledgments</u>. It is hereby acknowledged that

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;the Corporation will not be a wholly owned subsidiary of Medtronic and that Medtronic may continue to be a significant stockholder of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;(i) directors, officers or employees of Medtronic may serve as directors, officers or employees of the Corporation, (ii) Medtronic may engage in the same, similar or related lines of business as those in which the Corporation, directly or indirectly, may engage or other business activities that overlap with or compete with those in which the Corporation, directly or indirectly, may engage and (iii) Medtronic may have an interest in the same areas of corporate opportunity as the Corporation and the Affiliated Companies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the provisions of this ARTICLE EIGHT shall, to the fullest extent permitted by applicable law, regulate and define the conduct of certain of the business and affairs of the Corporation in relation to Medtronic and the conduct of certain affairs of the Corporation as they may involve Medtronic and its directors, officers or employees, including any of the foregoing who serve as directors, officers or employees of the Corporation (Medtronic and all such other persons, each an "<u>Exempted Person</u>" and collectively, the "<u>Exempted Persons</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;this ARTICLE EIGHT constitutes a renunciation of corporate opportunities pursuant to Section 122(17) of the DGCL, which authorizes a corporation to renounce specified classes and categories of business opportunities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the Official Synopsis for the Act of the Delaware General Assembly enacting Section 122(17) of the DGCL states that "the classes or categories of business opportunities may be specified by any manner of defining or delineating business opportunities … including, without limitation, by …

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identity of the originator of the business opportunity, identity of the party or parties to or having an interest in the business opportunity, [and] identity of the recipient of the business opportunity"; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;as a result of the renunciations set forth in this ARTICLE EIGHT, (i) each Exempted Person will rely on this ARTICLE EIGHT in declining to communicate or offer a business opportunity to the Corporation or any of its subsidiaries unless Section 4 of this ARTICLE EIGHT applies to such person; (ii) an Exempted Person will rely on this ARTICLE EIGHT to retain or exploit such business opportunity for itself or for the benefit of persons or entities other than the Corporation and the Affiliated Companies; and (iii) Medtronic has approved an initial public offering of the stock of the Corporation in reliance on the adoption of this ARTICLE EIGHT.

SECTION 2&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Definitions</u>. As used in this Certificate of Incorporation, (i) "<u>Medtronic</u>" shall mean Medtronic plc, an Ireland public limited company, any and all successors to Medtronic by way of merger, consolidation or sale of all or substantially all of its assets or equity, and any and all corporations, partnerships, joint ventures, limited liability companies, associations and other entities (A) in which Medtronic owns, directly or indirectly, more than 50% of the outstanding voting stock, voting power, partnership interests or similar ownership interests, (B) of which Medtronic otherwise directly or indirectly controls or directs the policies or operations or (C) that would be considered subsidiaries of Medtronic within the meaning of Regulation S-K or Regulation S-X of the general rules and regulations under the Securities Act of 1933, as amended (the "<u>Securities Act</u>"), now or hereafter existing; <u>provided</u>, <u>however</u>, that the term "Medtronic" shall not include the Corporation or any entities (x) in which the Corporation owns, directly or indirectly, more than 50% of the outstanding voting stock, voting power, partnership interests or similar ownership interests, (y) of which the Corporation otherwise directly or indirectly controls or directs the policies or operations or (z) that would be considered subsidiaries of the Corporation within the meaning of Regulation S-K or Regulation S-X of the general rules and regulations under the Securities Act now or hereafter existing (such entities described in clauses (x), (y) and (z), the "<u>Affiliated Companies</u>") and (ii) the term "Beneficially Own" shall have the meaning set forth in Section 13(d) of the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>"), and the rules and regulations thereunder.

SECTION 3&nbsp;&nbsp;&nbsp;&nbsp;<u>Renunciation of Corporate Opportunities</u>. To the fullest extent permitted by the DGCL, but subject to Section 4 of this ARTICLE EIGHT, the Corporation hereby renounces any interest or expectancy in, or being offered an opportunity to participate in, any and all business opportunities: (a) originated or acquired by an Exempted Person; (b) in which the Exempted Person has an interest; or (c) that is received from any person or entity by an Exempted Person. The business opportunities renounced under this Section 3 of ARTICLE EIGHT include any actual or potential investment or business opportunity or prospective economic advantage in which the Corporation could, but for this Section 3 of ARTICLE EIGHT, have an interest or expectancy (including, without limitation, acquisitions, dispositions, business combinations, financings or investment opportunities), whether or not such opportunities are in the same or similar lines of business in which the Corporation is engaged or intends to engage.

SECTION 4&nbsp;&nbsp;&nbsp;&nbsp;<u>Excluded Opportunities</u>. Notwithstanding the foregoing provisions of this ARTICLE EIGHT, but subject to Section 5 of this ARTICLE EIGHT, the Corporation does not renounce any business opportunity: (a) expressly offered to a person in his or her capacity as a director or officer of the Corporation; (b) offered to, or acquired by, a person while he or she is a full-time employee of the

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Corporation; or (c) that has been developed using the confidential information of the Corporation or the Affiliated Companies.

SECTION 5&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Matters Deemed Not Corporate Opportunities</u>. In addition to and notwithstanding the foregoing provisions of this ARTICLE EIGHT, a corporate opportunity shall not be deemed to belong to the Corporation if it is a business opportunity the Corporation is not financially able or contractually permitted or legally able to undertake, or that is, from its nature, not in the line of the Corporation's business or is of no practical advantage to it, or that is one in which the Corporation has no interest or reasonable expectancy.

SECTION 6&nbsp;&nbsp;&nbsp;&nbsp;<u>Authorized Business Activities</u>. Without limiting the other provisions of this ARTICLE EIGHT, Medtronic shall have no duty to communicate information regarding a corporate opportunity to the Corporation or to refrain from (i) engaging in the same or similar activities or lines of business as the Corporation or any Affiliated Company, (ii) doing business with any client, customer or vendor of the Corporation or any Affiliated Company or (iii) employing or otherwise engaging any director, officer or employee of the Corporation or any Affiliated Company. To the fullest extent permitted by applicable law, except as provided in Section 4 of this ARTICLE EIGHT, no officer, director or employee of the Corporation or any Affiliated Company who is also a director, officer or employee of Medtronic shall be deemed to have breached their fiduciary duties, if any, to the Corporation or any Affiliated Company solely by reason of Medtronic's engaging in any such activity.

SECTION 7&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice and Consent</u>. To the fullest extent permitted by applicable law, any person purchasing or otherwise acquiring or holding any interest in shares of capital stock of the Corporation (including shares of Common Stock) shall be deemed to have notice of and to have consented to the provisions of this ARTICLE EIGHT.

SECTION 8&nbsp;&nbsp;&nbsp;&nbsp;<u>No Expansion of Duties</u>. Nothing in this ARTICLE EIGHT creates or is intended to create any fiduciary duty on the part of Medtronic, the Corporation, any Affiliated Company, or any stockholder, director, officer or employee of any of them, that does not otherwise exist under applicable law, and nothing in this ARTICLE EIGHT expands any such duty of any such person that may now or hereafter exist under applicable law.

SECTION 9&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination</u>. The foregoing provisions of this ARTICLE EIGHT (but, for the avoidance of doubt, not Section 9 or Section 10 of this ARTICLE EIGHT) shall terminate, expire and have no further force and effect on the first date that (x) Medtronic ceases to Beneficially Own at least 10% of the outstanding shares of capital stock of the Corporation and (y) no person who is a director, officer or employee of Medtronic is also serving as a director or officer of the Corporation. No amendment, repeal, modification, termination or expiration of this ARTICLE EIGHT, nor the adoption of any provision of this Certificate of Incorporation inconsistent with this ARTICLE EIGHT, shall eliminate or reduce the effect of this ARTICLE EIGHT in respect of any matter occurring prior to such amendment, repeal, modification, termination or adoption.

SECTION 10&nbsp;&nbsp;&nbsp;&nbsp;<u>Business Combinations</u>. The Corporation shall not be governed by Section 203 of the DGCL, and the restrictions contained in Section 203 of the DGCL shall not apply to the Corporation, until the moment in time immediately following the first time at which both of the following conditions exist (if ever): (A) Section 203 of the DGCL by its terms would, but for the provisions of this Section 10

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of ARTICLE EIGHT, apply to the Corporation; and (B) there occurs a transaction following the consummation of which Medtronic owns (as defined in Section 203 of the DGCL) less than 15% of the voting power of the Corporation's then-outstanding shares of Voting Stock (solely for purposes of this Section 10 of ARTICLE EIGHT, as defined in Section 203 of the DGCL) of the Corporation (the "<u>Applicable Time</u>"). From and after the Applicable Time, this Section 10 of ARTICLE EIGHT shall have no effect and the Corporation shall be governed by Section 203 of the DGCL if and for so long as Section 203 of the DGCL by its terms shall apply to the Corporation.

**ARTICLE NINE**

SECTION 1&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments to the Bylaws</u>. Subject to the rights of holders of any series of Preferred Stock then outstanding, in furtherance and not in limitation of the powers conferred by law, the Bylaws may be amended, altered or repealed and new bylaws made by (i) the Board of Directors or (ii) in addition to any vote required herein (including any certificate of designation relating to any series of Preferred Stock), by the Bylaws or applicable law, the affirmative vote of the holders of at least two-thirds of the voting power of all then-outstanding shares of capital stock of the Corporation entitled to vote thereon, voting together as a single class.

SECTION 2&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments to this Certificate of Incorporation</u>. The Corporation reserves the right, from time to time, to amend, alter or repeal any provision of, or add new provisions to, this Certificate of Incorporation in the manner now or hereafter prescribed in the DGCL, and all rights, preferences, privileges and powers of any kind conferred upon any director or stockholder of the Corporation by this Certificate of Incorporation are conferred subject to such right. Except as otherwise provided in this Certificate of Incorporation (including any certificate of designation relating to any series of Preferred Stock then-outstanding that provides for a greater or lesser vote) and in addition to any other vote required by law, the affirmative vote of the holders of a majority of the voting power of all then-outstanding shares of capital stock of the Corporation entitled to vote thereon, voting together as a single class, shall be required to amend, alter, change or repeal any provision of this Certificate of Incorporation, or to adopt any new provision of this Certificate of Incorporation; <u>provided</u>, <u>however</u>, that the affirmative vote of the holders of at least two-thirds in voting power of all then-outstanding shares of capital stock of the Corporation entitled to vote thereon, voting together as a single class, shall be required to amend, alter, change or repeal, or adopt any provision inconsistent with, Sections 2, 3(b), 3(c), 4 and 5 of ARTICLE FIVE, Sections 1 and 2 of ARTICLE SEVEN, ARTICLE EIGHT, and ARTICLE NINE, or in each case, the definition of any capitalized terms used therein or any successor provision (including, without limitation, any such article or section as renumbered as a result of any amendment, alteration, change, repeal or adoption of any other provision of this Certificate of Incorporation). For the avoidance of doubt, the Corporation expressly elects to be governed by Section 242(d) of the DGCL.

**ARTICLE TEN**

SECTION 1&nbsp;&nbsp;&nbsp;&nbsp;<u>Exclusive Forum</u>. Unless the Corporation consents in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware (or, if the Court of Chancery of the State of Delaware does not have jurisdiction, the United States District Court for the District of Delaware) shall, to the fullest extent permitted by law, be the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the Corporation, (ii) any action asserting a claim that is based upon a violation of a duty owed by any current or former director, officer, employee or stockholder of the

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SECTION 2&nbsp;&nbsp;&nbsp;&nbsp;<u>Personal Jurisdiction</u>. If any action the subject matter of which is a Covered Proceeding is filed in a court other than the Court of Chancery of the State of Delaware, or, where permitted in accordance with Section 1 of this ARTICLE TEN, the United States District Court for the District of Delaware (each, a "<u>Foreign Action</u>"), in the name of any person or entity (a "<u>Claiming Party</u>") without the prior written approval of the Corporation, such Claiming Party shall be deemed to have consented to (i) the personal jurisdiction of the Court of Chancery of the State of Delaware, or, where applicable, the United States District Court for the District of Delaware, in connection with any action brought in any such courts to enforce Section 1 of this ARTICLE TEN (an "<u>Enforcement Action</u>") and (ii) having service of process made upon such Claiming Party in any such Enforcement Action by service upon such Claiming Party's counsel in the Foreign Action as agent for such Claiming Party.

SECTION 3&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice and Consent</u>. To the fullest extent permitted by applicable law, any person purchasing or otherwise acquiring or holding any interest in shares of capital stock of the Corporation (including shares of Common Stock) shall be deemed to have notice of and to have consented to the provisions of this ARTICLE TEN.

**ARTICLE ELEVEN**

If any provision or provisions of this Certificate of Incorporation shall be held to be invalid, illegal or unenforceable as applied to any circumstance for any reason whatsoever, the validity, legality and enforceability of such provisions in any other circumstance and of the remaining provisions of this Certificate of Incorporation (including each portion of any paragraph of this Certificate of Incorporation containing any such provision held to be invalid, illegal or unenforceable that is not itself held to be invalid, illegal or unenforceable) shall not, to the fullest extent permitted by applicable law, in any way be affected or impaired thereby.

## Exhibit 3.2

**Exhibit 3.2**

**FORM OF AMENDED AND RESTATED BYLAWS**

**OF MINIMED GROUP, INC.**

*A Delaware corporation*

(Adopted as of March 6, 2026)

MiniMed Group, Inc. (the "<u>Corporation</u>"), pursuant to the provisions of Section 109 of the General Corporation Law of the State of Delaware (the "<u>DGCL</u>"), hereby adopts these Amended and Restated Bylaws (these "<u>Bylaws</u>"), which restate, amend and supersede the bylaws of the Corporation in their entirety as described below:

**ARTICLE ONE**

**<u>OFFICES</u>**

SECTION 1&nbsp;&nbsp;&nbsp;&nbsp;<u>Offices</u>. The Corporation may have an office or offices other than its registered office at such place or places, either within or outside the State of Delaware, as the Board of Directors of the Corporation (the "<u>Board of Directors</u>") may from time to time determine or the business of the Corporation may require. The registered office of the Corporation in the State of Delaware shall be as stated in the Corporation's certificate of incorporation as then in effect (the "<u>Certificate of</u> <u>Incorporation</u>").

**ARTICLE TWO**

**<u>MEETINGS OF STOCKHOLDERS</u>**

SECTION 1&nbsp;&nbsp;&nbsp;&nbsp;<u>Place of Meetings</u>. The Board of Directors may designate a place, if any, either within or outside the State of Delaware, as the place of meeting for any annual meeting or for any special meeting of stockholders. The Board of Directors may, in its sole discretion, determine that a meeting of the stockholders shall not be held at any place, but may instead be held solely by means of remote communication as described in Section 14 of this ARTICLE TWO of these Bylaws in accordance with Section 211(a)(2) of the DGCL.

SECTION 2&nbsp;&nbsp;&nbsp;&nbsp;<u>Annual Meeting</u>. An annual meeting of the stockholders shall be held at such date and time as is specified by resolution of the Board of Directors. At the annual meeting, stockholders shall elect directors, in accordance with the requirements of the Certificate of Incorporation, and transact such other business as properly may be brought before the annual meeting pursuant to Section 11 of this ARTICLE TWO of these Bylaws. The Board of Directors may postpone or cancel any annual meeting of stockholders.

SECTION 3&nbsp;&nbsp;&nbsp;&nbsp;<u>Special Meetings</u>. Special meetings of the stockholders may only be called in the manner provided in the Certificate of Incorporation. Business transacted at any special meeting of stockholders shall be limited to the purposes stated in the notice. The Board of Directors may postpone or cancel any special meeting of stockholders.

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SECTION 4&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Meetings</u>. (a) Whenever stockholders are required or permitted to take action at a meeting, notice of the meeting shall be given not less than 10 nor more than 60 days before the date on which the meeting is to be held, to each stockholder entitled to vote at such meeting as of the record date for determining the stockholders entitled to notice of the meeting, except as otherwise provided herein or required by applicable law or the Certificate of Incorporation. Such notice shall state the place, if any, date and time of the meeting of the stockholders, the means of remote communications, if any, by which stockholders and proxyholders not physically present may be deemed to be present in person and vote at such meeting, the record date for determining the stockholders entitled to vote at the meeting, if such date is different from the record date for determining stockholders entitled to notice of the meeting, and, in the case of a special meeting, the purpose or purposes for which the meeting is called.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Form of Notice</u>. All such notices shall be delivered in writing or in any other manner permitted by the DGCL. If mailed, such notice shall be deemed given when deposited in the United States mail, postage prepaid, directed to the stockholder's mailing address as the same appears on the records of the Corporation. If given by courier service, such notice shall be deemed given at the earlier of when the notice is received or left at such stockholder's address. Subject to the limitations of Section 4(d) of this ARTICLE TWO, if given by electronic transmission, such notice shall be deemed to be given: (i) if by facsimile telecommunication, when directed to a number at which the stockholder has consented to receive notice by facsimile, (ii) if by electronic mail, when directed to such stockholder's electronic mail address, (iii) if by a posting on an electronic network together with separate notice to the stockholder of such specific posting, upon the later of (x) such posting and (y) the giving of such separate notice and (iv) if by any other form of electronic transmission, when directed to the stockholder. An affidavit of the Secretary or an Assistant Secretary of the Corporation, the transfer agent of the Corporation or any other agent of the Corporation that the notice has been given shall, in the absence of fraud, be prima facie evidence of the facts stated therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Notice</u>. Whenever notice is required to be given under any provisions of the DGCL, the Certificate of Incorporation or these Bylaws, a written waiver thereof, signed by the stockholder entitled to notice, or a waiver by electronic transmission given by the stockholder entitled to notice, whether before or after the time stated therein, shall be deemed equivalent to notice. Neither the business to be transacted at, nor the purpose of, any meeting of the stockholders of the Corporation need be specified in any waiver of notice of such meeting. Attendance of a stockholder of the Corporation at a meeting of such stockholders in person or by proxy shall constitute a waiver of notice of such meeting, except when the stockholder attends for the express purpose of objecting at the beginning of the meeting to the transaction of any business because the meeting is not lawfully called or convened and does not further participate in the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice by Electronic Transmission</u>. Without limiting the manner by which notice otherwise may be given effectively to stockholders of the Corporation pursuant to the DGCL, the Certificate of Incorporation or these Bylaws, any notice to stockholders of the Corporation given by the Corporation under any provision of the DGCL, the Certificate of Incorporation or these Bylaws shall be effective if given by electronic mail complying with the DGCL or other form of electronic transmission which other form has been consented to by the stockholder of the Corporation to whom the notice is

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given. Any such consent is revocable by the stockholder by written notice or electronic transmission to the Corporation. Notice may not be given by electronic transmission from and after the time: (i) the Corporation is unable to deliver by electronic transmission two consecutive notices given by the Corporation; and (ii) such inability becomes known to the Secretary or an Assistant Secretary of the Corporation or to the transfer agent or other person responsible for the giving of notice; <u>provided</u>, <u>however</u>, that the inadvertent failure to discover such inability shall not invalidate any meeting or other action. For purposes of these Bylaws, the terms "<u>electronic transmission</u>", "electronic mail" and "electronic mail address" shall have the meanings provided in Section 232 of the DGCL.

SECTION 5&nbsp;&nbsp;&nbsp;&nbsp;<u>List of Stockholders</u>. The Corporation shall prepare, no later than the 10th day before each meeting of stockholders, a complete list of the stockholders entitled to vote at the meeting; <u>provided</u>, <u>however</u>, if the record date for determining the stockholders entitled to vote is less than 10 days before the meeting date, the list shall reflect the stockholders entitled to vote as of the 10th day before the meeting date, arranged in alphabetical order and showing the address of each such stockholder and the number of shares registered in the name of each such stockholder. Nothing contained in this Section 5 of ARTICLE TWO shall require the Corporation to include electronic mail addresses or other electronic contact information on such list. Such list shall be open to the examination of any stockholder for any purpose germane to the meeting for a period of at least 10 days ending on the day before the meeting date: (a) on a reasonably accessible electronic network; <u>provided</u> that the information required to gain access to such list is provided with the notice of the meeting, or (b) during ordinary business hours, at the principal place of business of the Corporation. In the event the Corporation determines to make the list available on an electronic network, the Corporation may take reasonable steps to ensure that such information is available only to stockholders of the Corporation. Except as otherwise provided by law, the list shall be the only evidence as to who are the stockholders entitled to examine the list of stockholders required by this Section 5 of ARTICLE TWO or to vote in person or by proxy at any meeting of stockholders.

SECTION 6&nbsp;&nbsp;&nbsp;&nbsp;<u>Quorum</u>. The holders of a majority in voting power of the outstanding capital stock entitled to vote at the meeting, present in person or represented by proxy, shall constitute a quorum at all meetings of the stockholders, except as otherwise required by law, the Certificate of Incorporation or these Bylaws. If a quorum is not present, the chair of the meeting or the stockholders present thereat, by the affirmative vote of the holders of a majority of the voting power of capital stock present in person or represented by proxy at the meeting and entitled to vote thereon, may adjourn the meeting to another time and/or place, if any, from time to time until a quorum shall be present in person or represented by proxy. When a specified item of business requires a vote by a class or series (if the Corporation shall then have outstanding shares of more than one class or series) voting as a separate class or series, the holders of a majority in voting power of the outstanding stock of such class or series, present in person or represented by proxy, shall constitute a quorum (as to such class or series) for the transaction of such item of business. A quorum once established at a meeting shall not be broken by the withdrawal of enough votes to leave less than a quorum.

SECTION 7&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjourned Meetings</u>. Any meeting of stockholders, annual or special, may adjourn from time to time to reconvene at the same or some other place. When a meeting is adjourned to another time and place (including an adjournment taken to address a technical failure to convene or continue a meeting

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using remote communication), notice need not be given of the adjourned meeting if the time and place, if any, thereof and the means of remote communications, if any, by which stockholders and proxyholders may be deemed to be present in person and vote at such adjourned meeting are (a) announced at the meeting at which the adjournment is taken, (b) displayed, during the time scheduled for the meeting, on the same electronic network used to enable stockholders and proxy holders to participate in the meeting by means of remote communication or (c) set forth in the notice of meeting given in accordance with Section 4(a) of this ARTICLE TWO (or are otherwise provided in any other manner permitted by the DGCL). At the adjourned meeting, the Corporation may transact any business which might have been transacted at the original meeting. If the adjournment is for more than 30 days, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote at the meeting. If after the adjournment a new record date for stockholders entitled to vote is fixed for the adjourned meeting, the Board of Directors shall fix a new record date for notice of such adjourned meeting, which record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board of Directors and, except as otherwise required by law, shall not be more than 60 days nor less than 10 days before the date of such adjourned meeting and shall give notice of the adjourned meeting to each stockholder of record entitled to vote at such adjourned meeting as of the record date fixed for notice of such adjourned meeting.

SECTION 8&nbsp;&nbsp;&nbsp;&nbsp;<u>Vote Required</u>. Subject to the rights of the holders of any series of preferred stock then outstanding, when a quorum has been established, all matters other than the election of directors shall be determined by the affirmative vote of the holders of a majority of the voting power of capital stock present in person or represented by proxy at the meeting and entitled to vote on the subject matter, unless a minimum or different vote is provided by applicable law, the rules of any stock exchange upon which the Corporation's securities are listed, any regulation applicable to the Corporation or its securities, the Certificate of Incorporation or these Bylaws, in which case such minimum or different vote shall be the applicable vote required on such matter. Subject to the rights of the holders of any series of Preferred Stock then outstanding, each director to be elected at any meeting for the election of directors shall be elected by a plurality of the votes cast with respect to that director's election at any meeting of stockholders at which a quorum is present.

SECTION 9&nbsp;&nbsp;&nbsp;&nbsp;<u>Voting Rights</u>. Subject to the rights of the holders of any series of preferred stock then outstanding, except as otherwise provided by the DGCL or the Certificate of Incorporation, each stockholder entitled to vote at any meeting of stockholders shall be entitled to one vote in person or by proxy for each share of capital stock held by such stockholder which has voting power upon the matter in question. Voting at meetings of stockholders need not be by written ballot.

SECTION 10&nbsp;&nbsp;&nbsp;&nbsp;<u>Proxies</u>. Each stockholder entitled to vote at a meeting of stockholders or to express consent or dissent to a corporate action in writing without a meeting may authorize another person or persons to act for such stockholder by proxy, but no such proxy shall be voted or acted upon after three years from its date, unless the proxy provides for a longer period. A duly executed proxy shall be irrevocable if it states that it is irrevocable and if, and only as long as, it is coupled with an interest sufficient in law to support an irrevocable power. A proxy may be made irrevocable regardless of whether the interest with which it is coupled is an interest in the stock itself or an interest in the Corporation

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generally. A stockholder may revoke any proxy that is not irrevocable by attending the meeting and voting in person or by delivering to the Secretary a revocation of the proxy or by delivering a new duly authorized proxy bearing a later date. To the extent any stockholder uses its own proxy card in connection with directly or indirectly soliciting proxies from other stockholders, such proxy card must use a proxy card color other than white, which shall be reserved for the exclusive use by the Board of Directors.

SECTION 11&nbsp;&nbsp;&nbsp;&nbsp;<u>Advance Notice of Stockholder Business and Director Nominations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Business at Annual Meetings of Stockholders</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Only such business (other than nominations of persons for election to the Board of Directors, which must be made in compliance with and are governed exclusively by Section 11(b) of this ARTICLE TWO) shall be conducted at an annual meeting of the stockholders as shall have been brought before the meeting (A) as specified in the notice of meeting (or any supplement thereto) given by or at the direction of the Board of Directors or any duly authorized committee thereof, (B) by or at the direction of the Board of Directors or any duly authorized committee thereof or (C) by any stockholder of the Corporation who (1) was a stockholder of record at the time of giving of notice provided for in Section 11(a)(iii) of this ARTICLE TWO, on the record date for determination of stockholders of the Corporation entitled to vote at the meeting and at the time of the annual meeting, (2) is entitled to vote at the meeting and (3) complies with the procedures and requirements set forth in Section 11(a)(iii) of this ARTICLE TWO and all applicable requirements of state law and the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>") and the rules, regulations and schedules promulgated thereunder. For the avoidance of doubt, the foregoing clause (C) of this Section 11(a)(i) of ARTICLE TWO shall be the exclusive means for a stockholder to propose such business (other than business included in the Corporation's proxy materials submitted pursuant to Rule 14a-8 under the Exchange Act) before an annual meeting of stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;For any business (other than nominations of persons for election to the Board of Directors, which must be made in compliance with and are governed exclusively by Section 11(b) of this ARTICLE TWO) to be properly brought before an annual meeting by a stockholder, the stockholder must have given timely notice thereof in proper written form as described in Section 11(a)(iii) of this ARTICLE TWO to the Secretary, any such proposed business must be a proper matter for stockholder action and the stockholder and any Stockholder Associated Person (as defined in Section 11(e) of this ARTICLE TWO) must have acted in accordance with the representations set forth in the Solicitation Statement (as defined in Section 11(a)(iii) of this ARTICLE TWO) required by these Bylaws. To be timely, a stockholder's notice for such business must be delivered and received by the Secretary at the principal executive offices of the Corporation in proper written form not later than the Close of Business on the 90th day, and not earlier than the 120th day, prior to the first anniversary of the preceding year's annual meeting of stockholders; <u>provided</u>, <u>however</u>, that if and only if the annual meeting is not scheduled to be held within a period that commences 30 days before the first anniversary of the preceding year's annual meeting and ends 60 days after such first anniversary, or if no annual meeting was held in

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the preceding year, such stockholder's notice must be delivered not earlier than the 120th day before the annual meeting and not later than the Close of Business on the later of the 90th day before the annual meeting or the 10th day following the day the Public Announcement (as defined in Section 11(e) of this ARTICLE TWO) of the date of the annual meeting is first made. In no event shall any adjournment of an annual meeting or postponement of an annual meeting for which notice has been given, or for which a Public Announcement of the date of the meeting has been made by the Corporation, or the Public Announcement of such an adjournment or postponement, commence a new time period (or extend any time period) for the giving of a stockholder's notice as described above. Notices delivered pursuant to this Section 11(a) of ARTICLE TWO will be deemed received on any given day only if received prior to the Close of Business on such day (and otherwise shall be deemed received on the next succeeding Business Day).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;To be in proper written form, a stockholder's notice to the Secretary must set forth as to each matter of business the stockholder proposes to bring before the annual meeting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;a brief description of the business desired to be brought before the annual meeting (including the specific text of any resolutions or actions proposed for consideration and, if such business includes a proposal to amend these Bylaws, the specific language of the proposed amendment) and the reasons for conducting such business at the annual meeting,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;the name and address of the stockholder giving the notice as they appear on the Corporation's books, the name and address (if different from the Corporation's books) of such proposing stockholder, and the name and address of any Stockholder Associated Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;the class or series and number of shares of each class or series of capital stock of the Corporation which are directly or indirectly held of record or beneficially owned by such stockholder or by any Stockholder Associated Person, a description of any Derivative Positions (as defined in Section 11(e) of this ARTICLE TWO) directly or indirectly held or beneficially held by the stockholder or any Stockholder Associated Person and whether and to the extent to which a Hedging Transaction (as defined in Section 11(e) of this ARTICLE TWO) has been entered into by or on behalf of such stockholder or any Stockholder Associated Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;a description of all agreements, arrangements or understandings between or among such stockholder or any Stockholder Associated Person and any other person or entity (including their names) in connection with the proposal of such business by such stockholder and any material interest of such stockholder, any Stockholder Associated Person or such other person or entity in such business,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;a representation that such stockholder is a stockholder of record of the Corporation entitled to vote at such meeting and that such stockholder (or a qualified

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representative thereof) will appear at the annual meeting to bring such business before the meeting,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F)&nbsp;&nbsp;&nbsp;&nbsp;any other information related to such stockholder or any Stockholder Associated Person that would be required to be disclosed in a proxy statement or other filing required to be made in connection with the solicitation of proxies or consents (even if a solicitation is not involved) by such stockholder or Stockholder Associated Person in support of the business proposed to be brought before the meeting pursuant to Section 14 of the Exchange Act and the rules, regulations and schedules promulgated thereunder, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G)&nbsp;&nbsp;&nbsp;&nbsp;a representation as to whether such stockholder or any Stockholder Associated Person intends or is part of a group which intends to deliver, or make available, a proxy statement and/or form of proxy to the holders of at least the percentage of the Corporation's outstanding capital stock required to approve the proposal and/or otherwise to solicit proxies or votes from stockholders in support of the proposal (such representation, a "<u>Solicitation Statement</u>").

In addition, any stockholder who submits a notice pursuant to this Section 11(a) of ARTICLE TWO is required to update and supplement the information disclosed in such notice in accordance with Section 11(d) of this ARTICLE TWO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in these Bylaws to the contrary, no business (other than (x) nominations of persons for election to the Board of Directors, which must be made in compliance with and are governed exclusively by Section 11(b) of this ARTICLE TWO and (y) business included in the Corporation's proxy materials submitted pursuant to Rule 14a-8 under the Exchange Act) shall be conducted at an annual meeting except in accordance with the procedures set forth in this Section 11(a) of ARTICLE TWO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Nominations at Annual Meetings of Stockholders</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Only persons who are nominated in accordance and compliance with the procedures and requirements set forth in this Section 11(b) of ARTICLE TWO shall be eligible for election to the Board of Directors at an annual meeting of stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Nominations of persons for election to the Board of Directors may be made at an annual meeting of stockholders only (A) by or at the direction of the Board of Directors or any duly authorized committee thereof or (B) by any stockholder of the Corporation who (1) was a stockholder of record at the time of giving of notice provided for in this Section 11(b) of ARTICLE TWO, on the record date for determination of stockholders of the Corporation entitled to vote at the meeting and at the time of the annual meeting, (2) is entitled to vote at the meeting and (3) complies with the procedures and requirements set forth in this Section 11(b) of ARTICLE TWO and all applicable requirements of state law and the Exchange Act and the rules, regulations and schedules promulgated thereunder, for the avoidance of doubt, including but not

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limited to Rule 14a-19 under the Exchange Act. For the avoidance of doubt, the foregoing clause (B) of this Section 11(b)(ii) of ARTICLE TWO shall be the exclusive means for a stockholder to make nominations of persons for election to the Board of Directors at an annual meeting of stockholders. For nominations to be properly brought by a stockholder at an annual meeting of stockholders, the stockholder must have given timely notice thereof in proper written form as described in Section 11(b)(iii) of this ARTICLE TWO to the Secretary and the stockholder and any Stockholder Associated Person must have acted in accordance with the representations set forth in the Nomination Solicitation Statement required by these Bylaws. To be timely, a stockholder's notice for the nomination of persons for election to the Board of Directors must be delivered and received by the Secretary at the principal executive offices of the Corporation in proper written form not later than the Close of Business on the 90th day, and not earlier than the 120th day, prior to the first anniversary of the preceding year's annual meeting of stockholders; <u>provided</u>, <u>however</u>, that if and only if the annual meeting is not scheduled to be held within a period that commences 30 days before the first anniversary of the preceding year's annual meeting and ends 60 days after such first anniversary, or if no annual meeting was held in the preceding year, such stockholder's notice must be delivered not earlier than the 120th day before the annual meeting and not later than the Close of Business on the later of the 90th day before the annual meeting or the 10th day following the day the Public Announcement of the date of the annual meeting is first made. In no event shall any adjournment of an annual meeting or postponement of an annual meeting for which notice has been given, or for which a Public Announcement of the date of the meeting has been made by the Corporation, or the Public Announcement of such an adjournment or postponement, commence a new time period (or extend any time period) for the giving of a stockholder's notice as described above. Notices delivered pursuant to this Section 11(b) of ARTICLE TWO will be deemed received on any given day only if received prior to the Close of Business on such day (and otherwise shall be deemed received on the next succeeding Business Day). For the avoidance of doubt, a stockholder shall not be entitled to make additional or substitute nominations following the expiration of the time periods set forth in these Bylaws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;To be in proper written form, a stockholder's notice to the Secretary shall set forth:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;as to each person that the stockholder proposes to nominate for election or re-election as a director of the Corporation, (1) the name, age, business address and residence address of the person, (2) the principal occupation or employment of the person, (3) the class or series and number of shares of each class or series of capital stock of the Corporation which are directly or indirectly owned beneficially or of record by the person, (4) the date such shares were acquired and the investment intent of such acquisition, (5) any other information relating to the person that would be required to be disclosed in a proxy statement or other filings required to be made in connection with the solicitation of proxies or consents for a contested election of directors (even if an election contest or proxy solicitation is not involved) or is otherwise required pursuant to Section 14 of the Exchange Act and the rules, regulations and schedules promulgated thereunder

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(including such person's written consent to being named in any proxy statement and other proxy materials for the applicable meeting as a nominee of the stockholder, if applicable, and to serving as a director if elected) and (6) the fully completed questionnaire, representation and agreement required by Section 11(f) of this ARTICLE TWO,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;the name and address of the stockholder giving the notice, as they appear on the Corporation's books, and the name and address of any Stockholder Associated Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp;the class or series and number of shares of each class or series of capital stock of the Corporation which are directly or indirectly held of record or beneficially owned by such stockholder or by any Stockholder Associated Person with respect to the Corporation's securities, a description of any Derivative Positions directly or indirectly held or beneficially held by the stockholder or any Stockholder Associated Person and whether and the extent to which a Hedging Transaction has been entered into by or on behalf of such stockholder or any Stockholder Associated Person,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D)&nbsp;&nbsp;&nbsp;&nbsp;a description of all agreements, arrangements or understandings (including financial transactions and direct or indirect compensation) between or among such stockholder or any Stockholder Associated Person and each proposed nominee and any other person or entity (including their names) pursuant to which the nomination(s) are to be made by such stockholder, 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E)&nbsp;&nbsp;&nbsp;&nbsp;a representation that such stockholder is a stockholder of record of the Corporation entitled to vote at such meeting and that such stockholder (or a qualified representative thereof) will appear at the meeting to nominate the persons named in its notice,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F)&nbsp;&nbsp;&nbsp;&nbsp;any other information relating to such stockholder or any Stockholder Associated Person that would be required to be disclosed in a proxy statement or other filings required to be made in connection with the solicitation of proxies or consents for a contested election of directors (even if an election contest or proxy solicitation is not involved) or otherwise required pursuant to Section 14 of the Exchange Act and the rules, regulations and schedules promulgated thereunder, for the avoidance of doubt, including but not limited to Rule 14a-19 under the Exchange Act, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G)&nbsp;&nbsp;&nbsp;&nbsp;a representation as to whether such stockholder or any Stockholder Associated Person intends or is part of a group which intends to (x)(1) solicit proxies in support of the election of the nominee(s) named in its notice from holders of the Corporation's outstanding capital stock representing at least 67% of the voting power of shares of capital stock entitled to vote on the election of directors, (2) include a statement to that effect in its proxy statement and/or the form of proxy, (3) otherwise comply with Rule 14a-19 under the Exchange Act and (4) provide the Secretary of the Corporation not

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less than 10 days prior to the meeting or any adjournment or postponement thereof, with reasonable documentary evidence (as determined by the Secretary in good faith) that such stockholder and/or beneficial owner complied with such representations, and/or (y) otherwise to solicit proxies or votes from stockholders in support of the election of the nominee(s) named it its notice (such representation, a "<u>Nomination Solicitation</u> <u>Statement</u>").

In addition, any stockholder who submits a notice pursuant to this Section 11(b) of ARTICLE TWO is required to update and supplement the information disclosed in such notice in accordance with Section 11(d) of this ARTICLE TWO and shall comply with Section 11(f) of this ARTICLE TWO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;The number of nominees a stockholder may nominate for election at an annual meeting (or in the case of a stockholder giving notice on behalf of a beneficial owner, the number of nominees a stockholder may nominate for election at the annual meeting on behalf of such beneficial owner) shall not exceed the number of directors to be elected at such annual meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Special Meetings of Stockholders</u>. Only such business shall be conducted at a special meeting of stockholders as shall have been brought before the meeting pursuant to the notice of meeting. Only persons who are nominated in accordance and compliance with the procedures and requirements set forth in this Section 11(c) of ARTICLE TWO shall be eligible for election to the Board of Directors at a special meeting of stockholders at which directors are to be elected. Nominations of persons for election to the Board of Directors may be made at a special meeting of stockholders at which directors are to be elected pursuant to the notice of meeting only (i) by or at the direction of the Board of Directors or any duly authorized committee thereof or (ii) <u>provided</u> that the Board of Directors has determined that directors are to be elected at such special meeting, by any stockholder of the Corporation who (A) was a stockholder of record at the time of giving of notice provided for in this Section 11(c) of ARTICLE TWO, on the record date for determination of stockholders of the Corporation entitled to vote at the meeting and at the time of the special meeting, (B) is entitled to vote at the meeting and (C) complies with the procedures and requirements set forth in this Section 11(c) of ARTICLE TWO and all applicable requirements of state law and the Exchange Act and the rules, regulations and schedules promulgated thereunder, for the avoidance of doubt, including but not limited to Rule 14a-19 under the Exchange Act. For the avoidance of doubt, the foregoing clause (ii) of this Section 11(c) of ARTICLE TWO shall be the exclusive means for a stockholder to make nominations of persons for election to the Board of Directors at a special meeting of stockholders at which directors are to be elected. For nominations to be properly brought by a stockholder at a special meeting of stockholders, the stockholder must have given timely notice thereof in proper written form as described in this Section 11(c) of ARTICLE TWO to the Secretary and the stockholder and the Stockholder Associated Person must have acted in accordance with the representations set forth in the Nomination Solicitation Statement required by these Bylaws. To be timely, a stockholder's notice for the nomination of persons for election to the Board of Directors must be delivered and received by the Secretary at the principal executive offices of the Corporation in proper written form not earlier than the 120th day prior to such special meeting and not later than the Close of Business on the later of the 90th day prior to such special meeting or the 10th day following the day on

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which a Public Announcement is first made of the date of the special meeting and of the nominees proposed by the Board of Directors to be elected at such meeting. In no event shall any adjournment or postponement of a special meeting or the Public Announcement thereof commence a new time period (or extend any time period) for the giving of a stockholder's notice as described above. The number of nominees a stockholder may nominate for election at a special meeting (or in the case of a stockholder giving notice on behalf of a beneficial owner, the number of nominees a stockholder may nominate for election at the special meeting on behalf of such beneficial owner) shall not exceed the number of directors to be elected at such special meeting. Notices delivered pursuant to this Section 11(c) of ARTICLE TWO will be deemed received on any given day only if received prior to the Close of Business on such day (and otherwise shall be deemed received on the next succeeding Business Day). For the avoidance of doubt, a stockholder shall not be entitled to make additional or substitute nominations following the expiration of the time periods set forth in these Bylaws. To be in proper written form, such stockholder's notice shall set forth all of the information required by, and otherwise be in compliance with, Section 11(b)(iii) of this ARTICLE TWO. In addition, any stockholder who submits a notice pursuant to this Section 11(c) of ARTICLE TWO is required to update and supplement the information disclosed in such notice, if necessary, in accordance with Section 11(d) of this ARTICLE TWO and shall comply with Section 11(f) of this ARTICLE TWO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Update and Supplement of Stockholder's Notice</u>. Any stockholder who submits a notice of proposal for business or nomination for election pursuant to this Section 11 of ARTICLE TWO is required to update and supplement the information disclosed in such notice, if necessary, so that the information provided or required to be provided in such notice shall be true and correct as of the record date for determining the stockholders entitled to notice of the meeting of stockholders and as of the date that is 10 Business Days prior to such meeting of the stockholders or any adjournment or postponement thereof. Any such update and supplement shall be received by the Secretary at the principal executive offices of the Corporation not later than the Close of Business on the fifth Business Day after the record date for the meeting of stockholders (in the case of the update and supplement required to be made as of the record date), and not later than the Close of Business on the eighth business day prior to the date for the meeting of stockholders or any adjournment or postponement thereof (in the case of the update and supplement required to be made as of 10 Business Days prior to the meeting of stockholders or any adjournment or postponement thereof); <u>provided</u> that, in the case of an adjournment, if there are fewer than eight Business Days prior to such adjournment, any such update and supplement shall be received by the Secretary as soon as practicable, but no in event later than the day prior to such adjournment. If a stockholder who submits a notice of nomination for election pursuant to this Section 11 of ARTICLE TWO no longer intends to solicit proxies in accordance with its representation pursuant to Section 11(b)(iii)(G)(1) of this ARTICLE TWO, such stockholder shall inform the Corporation of this change by delivering notice thereof in writing to the Secretary at the principal executive offices of the Corporation not later than the Close of Business on the second Business Day after the occurrence of such change. Notwithstanding anything in this Section 11 of ARTICLE TWO to the contrary, if any information or representation submitted pursuant to this Section 11 of ARTICLE TWO is inaccurate or incomplete, such information or representation shall be deemed not to have been provided in accordance herewith.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Definitions</u>. For purposes of this Section 11 of ARTICLE TWO, the term:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Business Day</u>" means each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in New York, NY are authorized or obligated by law or executive order to close;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Close of Business</u>" means 5:00 p.m. local time at the principal executive offices of the Corporation, and if an applicable deadline falls on the Close of Business on a day that is not a Business Day, then the applicable deadline shall be deemed to be the Close of Business on the immediately preceding Business Day;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Derivative Positions</u>" means, with respect to a stockholder or any Stockholder Associated Person, any derivative positions including, without limitation, any short position, profits interest, option, warrant, convertible security, stock appreciation right or similar right with an exercise or conversion privilege or a settlement payment or mechanism at a price related to any class or series of shares of the Corporation or with a value derived in whole or in part from the value of any class or series of shares of the Corporation, whether or not such instrument or right shall be subject to settlement in the underlying class or series of capital stock of the Corporation or otherwise and any performance-related fees to which such stockholder or any Stockholder Associated Person is entitled based, directly or indirectly, on any increase or decrease in the value of shares of capital stock of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Hedging Transaction</u>" means, with respect to a stockholder or any Stockholder Associated Person, any hedging or other transaction (such as borrowed or loaned shares) or series of transactions, or any other agreement, arrangement or understanding, the effect or intent of which is to increase or decrease the voting power or economic or pecuniary interest of such stockholder or any Stockholder Associated Person with respect to the Corporation's securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Public Announcement</u>" means disclosure in a press release reported by the Dow Jones News Service, Associated Press, Business Wire, PR Newswire or comparable news service or in a document publicly filed by the Corporation with the Securities and Exchange Commission pursuant to Sections 13, 14 or 15(d) of the Exchange Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Stockholder Associated Person</u>" of any stockholder means (A) any beneficial owner of shares of stock of the Corporation, if any, on whose behalf the nomination or proposal is made and (B) any person directly or indirectly controlling, controlled by or under common control with such stockholder or any such beneficial owner.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Submission of Questionnaire, Representation and Agreement</u>. For a person nominated by a stockholder pursuant to Sections 11(b)(ii)(B) or 11(c)(ii) of this ARTICLE TWO to be qualified to stand for election or re-election as a director of the Corporation, such stockholder's notice must include a written questionnaire with respect to the background and qualification of such person and the background of any other person or entity on whose behalf the nomination is being made (which questionnaire shall be provided by the Secretary upon written request of any stockholder of record identified by name within

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five Business Days of such written request) and a written representation and agreement (in the form provided by the Secretary upon written request of any stockholder of record identified by name within five Business Days of such written request) that such person (i) is not and will not become a party to (A) any agreement, arrangement or understanding with, and has not given any commitment or assurance to, any person or entity as to how such person, if elected as a director of the Corporation, will act or vote on any issue or question (a "<u>Voting Commitment</u>") that has not been disclosed to the Corporation or (B) any Voting Commitment that could limit or interfere with such person's ability to comply, if elected as a director of the Corporation, with such person's fiduciary duties under applicable law, (ii) is not and will not become a party to any agreement, arrangement or understanding with any person or entity other than the Corporation with respect to any direct or indirect compensation, reimbursement or indemnification in connection with service or action as a director of the Corporation or nominee therefor that has not been disclosed to the Corporation and (iii) would be in compliance, and if elected as a director of the Corporation, whether such person intends to comply, with all applicable publicly disclosed corporate governance, conflict of interest, confidentiality and stock ownership and trading policies and guidelines of the Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Additional Information</u>. The Corporation may also, as a condition to any such nomination or business being deemed properly brought before a meeting of stockholders, require the stockholder, any Stockholder Associated Person or a proposed nominee to deliver to the Secretary, within five Business Days of any such request, such other information as may reasonably be requested by the Corporation, including such other information as the Board of Directors, in good faith, determines (A) is reasonably necessary to determine whether such nominee satisfies any qualifications, requirements, criteria or standards imposed by the Certificate of Incorporation, these Bylaws or any law, rule, regulation or listing standard that may be applicable to the Corporation, (B) is reasonably necessary to determine whether such nominee qualifies as an "independent director" or "audit committee financial expert" under any law, rule, regulation or listing standard that may be applicable to the Corporation or any publicly disclosed corporate governance guideline or committee charter of the Corporation and (C) could be material to a stockholder's understanding of the independence (including from the stockholder or any Stockholder Associated Person), or lack thereof, of such nominee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;<u>Authority of Chair; General Provisions</u>. Except as otherwise provided by applicable law, the Certificate of Incorporation or these Bylaws, and subject to the oversight of the Board of Directors, the chair of the meeting shall have the power and duty to determine whether any nomination or other business proposed to be brought before the meeting was made or brought in accordance with the procedures and requirements set forth in these Bylaws (including whether the stockholder or Stockholder Associated Person, if any, on whose behalf the nomination or proposal is made or solicited (or is part of a group which solicited) or did not so solicit, as the case may be, proxies or votes in support of such stockholder's nominee or proposal in compliance with such stockholder's representation as required by Section 11(a)(iii)(G) or Section 11(b)(iii)(G), as applicable, of this ARTICLE TWO) or any applicable law, rule or regulation identified herein and, if any nomination or other business is not made or brought in compliance with these Bylaws (including any applicable law, rule or regulation identified herein), to declare that such nomination or proposal of other business be disregarded and not acted upon (and any such nominee shall be disqualified from standing for election or re-election), notwithstanding that proxies

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in respect of such vote may have been received by the Corporation. Notwithstanding the foregoing provisions of this Section 11 of ARTICLE TWO, unless otherwise required by law, if the stockholder (or a qualified representative of the stockholder) does not appear at the annual or special meeting of stockholders of the Corporation to present a nomination or proposed business, such nomination shall be disregarded (and any such nominee shall be disqualified from standing for election or re-election) and such proposed business shall not be transacted, notwithstanding that proxies in respect of such vote may have been received by the Corporation. For purposes of this Section 11 of ARTICLE TWO, to be considered a qualified representative of the stockholder, a person must be (A) a duly authorized officer, manager or partner of such stockholder or (B) authorized by a writing executed by such stockholder or an electronic transmission delivered by such stockholder to act for such stockholder as proxy at the meeting of stockholders, which writing or electronic transmission, or a reliable reproduction of the writing or electronic transmission, must be received by the Secretary at the principal executive offices of the Corporation at least 5 Business Days prior to the meeting of stockholders. For purposes of determining the deadline by which a stockholder must deliver a notice of nomination or business in connection with the Corporation's first annual meeting of stockholders following its initial public offering of common stock, the date of the immediately preceding year's annual meeting shall be deemed to have occurred on the fifteenth day of October in such immediately preceding calendar year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Exchange Act</u>. Notwithstanding the foregoing provisions of these Bylaws, a stockholder shall also comply with all applicable requirements of the Exchange Act and the rules, regulations and schedules promulgated thereunder with respect to the matters set forth in these Bylaws, and any failure to comply therewith shall be deemed a failure to comply with these Bylaws; <u>provided</u>, <u>however</u>, that any references in these Bylaws to the Exchange Act or the rules, regulations and schedules promulgated thereunder are not intended to and shall not limit the requirements applicable to any nomination or other business to be considered pursuant to this Section 11 of ARTICLE TWO.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect on Other Rights</u>. Nothing in these Bylaws shall be deemed to (A) affect any rights of the stockholders to request inclusion of proposals in the Corporation's proxy statement pursuant to Rule 14a-8 under the Exchange Act, (B) confer upon any stockholder a right to have a nominee or any proposed business included in the Corporation's proxy statement, except as set forth in the Certificate of Incorporation, these Bylaws or applicable law, (C) affect any rights of the holders of any series of preferred stock to elect directors pursuant to any applicable provisions of the Certificate of Incorporation or (D) limit the exercise, or the method or timing of the exercise, of any rights expressly granted by the Corporation to any person to nominate directors.

SECTION 12&nbsp;&nbsp;&nbsp;&nbsp;<u>Fixing a Record Date for Stockholder Meetings</u>. In order that the Corporation may determine the stockholders entitled to notice of any meeting of stockholders or any adjournment thereof, the Board of Directors may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board of Directors, and which record date shall not be more than 60 days nor less than 10 days before the date of such meeting. If the Board of Directors so fixes a date, such date shall also be the record date for determining the stockholders entitled to vote at such meeting unless the Board of Directors determines, at the time it fixes such record date, that a later date on or before the date of the meeting shall be the date for making such determination. If no record date is

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fixed by the Board of Directors, the record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be the Close of Business on the day next preceding the day on which notice is first given or, if notice is waived, at the Close of Business on the day next preceding the day on which the meeting is held. A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; <u>provided</u>, <u>however</u>, that the Board of Directors may fix a new record date for the adjourned meeting in conformity herewith, and in such case shall also fix as the record date for stockholders entitled to notice of such adjourned meeting the same or an earlier date as that fixed for determination of stockholders entitled to vote in accordance with the foregoing provisions of this Section 12 of ARTICLE TWO at the adjourned meeting.

SECTION 13&nbsp;&nbsp;&nbsp;&nbsp;<u>Fixing a Record Date for Action by Stockholders Without a Meeting</u>. So long as stockholders of the Corporation have the right to act by written consent in accordance with Section 1 of ARTICLE SEVEN of the Certificate of Incorporation, for the purposes of determining the stockholders entitled to consent to corporate action without a meeting, the Board of Directors may fix a record date, which record date shall not precede the date on which the resolution fixing the record date is adopted by the Board of Directors, and which record date shall not be more than 10 days after the date upon which the resolution fixing the record date is adopted by the Board of Directors. If no record date has been fixed by the Board of Directors, the record date for determining stockholders entitled to consent to corporate action without a meeting, when no prior action by the Board of Directors is required by applicable law, shall be the first date on which a signed consent setting forth the action taken or proposed to be taken is delivered to the Corporation in accordance with Section 228 of the DGCL. If no record date has been fixed by the Board of Directors and prior action by the Board of Directors is required by applicable law, the record date for determining stockholders entitled to consent to corporate action without a meeting shall be at the Close of Business on the day on which the Board of Directors adopts the resolution taking such prior action.

SECTION 14&nbsp;&nbsp;&nbsp;&nbsp;<u>Conduct of Meetings</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Generally</u>. Meetings of stockholders shall be presided over by the chair of the meeting who shall be the Chair of the Board of Directors, if any, or in the Chair's absence or disability, by the Chief Executive Officer, or in the Chief Executive Officer's absence or disability, by an Executive Vice President or Senior Vice President (in the order as determined by the Board of Directors), or in the absence or disability of the foregoing persons by a chair designated by the Board of Directors, or in the absence or disability of such person, by a chair chosen at the meeting; <u>provided</u> that, notwithstanding anything to the contrary herein, the chair of the meeting may delegate any of their rights and responsibilities with respect to such meeting to any other person. The Secretary shall act as secretary of the meeting, but in the Secretary's absence or disability the chair of the meeting may appoint any person to act as secretary of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Rules, Regulations and Procedures</u>. The Board of Directors may adopt by resolution such rules, regulations and procedures for the conduct of any meeting of stockholders of the Corporation as it shall deem appropriate including, without limitation, such guidelines and procedures as it may deem appropriate regarding the participation by means of remote communication of stockholders and

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proxyholders not physically present at a meeting. Except to the extent inconsistent with such rules, regulations and procedures as adopted by the Board of Directors, the chair of any meeting of stockholders shall have the right and authority to prescribe such rules, regulations and procedures and to do all such acts as, in the judgment of such chair, are appropriate for the proper conduct of the meeting. Such rules, regulations or procedures, whether adopted by the Board of Directors or prescribed by the chair of the meeting, may include, without limitation, the following: (i) the establishment of an agenda or order of business for the meeting; (ii) rules and procedures for maintaining order at the meeting and the safety of those present; (iii) limitations on attendance at or participation in the meeting to stockholders of record of the Corporation, their duly authorized and constituted proxies or such other persons as the chair of the meeting shall determine; (iv) restrictions on entry to the meeting after the time fixed for the commencement thereof; (v) limitations on the time allotted to questions or comments by participants; and (vi) restrictions on the use of mobile phones, audio or video recording devices and similar devices at the meeting. Unless and to the extent determined by the Board of Directors or the chair of the meeting, meetings of stockholders shall not be required to be held in accordance with the rules of parliamentary procedure. The chair of the meeting shall have the power, right and authority, for any or no reason, to convene, recess and/or adjourn any meeting of stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Inspectors of Elections</u>. The Corporation may, and to the extent required by law shall, in advance of any meeting of stockholders, appoint one or more inspectors of election to act at the meeting and make a written report thereof. The Corporation may designate one or more other persons as alternate inspectors to replace any inspector who fails to act. If no inspector or alternate is able to act at a meeting of stockholders, the chair of the meeting shall appoint one or more inspectors to act at the meeting. Unless otherwise required by law, inspectors may be officers, employees or agents of the Corporation. No person who is a candidate for an office at an election may serve as an inspector at such election. Each inspector, before entering upon the discharge of such inspector's duties, shall take and sign an oath faithfully to execute the duties of inspector with strict impartiality and according to the best of such inspector's ability. The inspector shall have the duties prescribed by law and, when the vote is completed, shall make a certificate of the result of the vote taken and of such other facts as may be required by law. The inspectors may appoint or retain other persons or entities to assist the inspectors in the performance of the duties of the inspectors.

SECTION 15&nbsp;&nbsp;&nbsp;&nbsp;<u>Delivery to the Corporation</u>. Whenever this ARTICLE II requires one or more persons (including a record or beneficial owner of capital stock) to deliver a document or information to the Corporation or any officer, employee or agent thereof (including any notice, questionnaire, representation, agreement or other document), such document or information shall be (i) in writing, which shall be delivered by hand (including, without limitation, overnight courier service) or by certified or registered mail, return receipt requested and (ii) delivered by email to investors@minimed.com, and the Corporation shall not be required to accept delivery of any document not in such form or so delivered.

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**ARTICLE THREE**

**<u>DIRECTORS</u>**

SECTION 1&nbsp;&nbsp;&nbsp;&nbsp;<u>General Powers</u>. The business and affairs of the Corporation shall be managed by or under the direction of the Board of Directors.

SECTION 2&nbsp;&nbsp;&nbsp;&nbsp;<u>Number and Term of Office</u>. Subject to the rights of the holders of any series of preferred stock to elect directors, the number of Directors shall be fixed from time to time exclusively by resolution of the Board of Directors. Subject to the rights of the holders of any series of preferred stock to elect directors, the directors shall be divided into three classes, designated Class I, Class II and Class III. Each class shall consist, as nearly as may be possible, of one-third of the total number of directors constituting the entire Board. Subject to the rights of the holders of any series of preferred stock to elect directors, each director shall serve for a term expiring at the third annual meeting of stockholders following the annual meeting of stockholders at which such director was elected; <u>provided</u> that each director initially assigned to Class I shall serve for a term expiring at the Corporation's first annual meeting of stockholders to be held in 2026; each director initially assigned to Class II shall serve for a term expiring at the Corporation's second annual meeting of stockholders to be held in 2027; and each director initially assigned to Class III shall serve for a term expiring at the Corporation's third annual meeting of stockholders to be held in 2028; <u>provided further</u>, that each director shall hold office until their successor is duly elected and qualified, or until their earlier death, resignation, disqualification or removal.

SECTION 3&nbsp;&nbsp;&nbsp;&nbsp;<u>Vacancies</u>. Subject to the rights of the holders of any series of preferred stock then outstanding, any newly created directorship on the Board of Directors that results from an increase in the number of directors or any vacancy occurring on the Board of Directors, however created, shall be filled only by resolution of a majority of the directors then in office, even if less than a quorum, or by a sole remaining director (other than directors elected by the holders of any series of preferred stock then outstanding) and may not be filled in any other manner. In the event of any increase in the authorized number of directors, the Board of Directors shall assign the class to which a newly created directorship shall be allocated. A director appointed to fill a vacancy resulting from the death, resignation, disqualification or removal of a director or other cause shall hold office for the unexpired term of such director's predecessor in office, and a director appointed to fill a newly created directorship shall hold office until the next election of the class for which such director shall have been assigned, and, in each case, until their successor is duly elected and qualified, or until their earlier death, resignation, disqualification or removal. In no case will a decrease in the authorized number of directors have the effect of removing or shortening the term of any incumbent director.

SECTION 4&nbsp;&nbsp;&nbsp;&nbsp;<u>Annual Meeting</u>. The annual meeting of the Board of Directors for the purpose of electing officers and transacting all other business properly brought before it shall be held without notice at such time and at such place, if any, as shall be determined by the Board of Directors and publicized among all directors.

SECTION 5&nbsp;&nbsp;&nbsp;&nbsp;<u>Regular Meetings and Special Meetings</u>. Regular meetings, other than the annual meeting, of the Board of Directors may be held without notice at such time and at such place, if any, as

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shall from time to time be determined by the Board of Directors and publicized among all directors. Special meetings of the Board of Directors may be called by (i) the Chair of the Board of Directors, if any, (ii) the Chief Executive Officer or (iii) by the Secretary upon the written request of a majority of the directors then in office, and in each case shall be held at the place, if any, on the date and at the time as they shall fix. Any and all business may be transacted at a special meeting of the Board of Directors.

SECTION 6&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Meetings</u>. Notice of regular meetings of the Board of Directors need not be given except as otherwise required by law or these Bylaws. Notice of each special meeting of the Board of Directors, and of each regular and annual meeting of the Board of Directors for which notice is required, shall be given by the Secretary as hereinafter provided in this Section 6 of ARTICLE THREE. Such notice shall state the date, time and place, if any, of the meeting. Notice of any special meeting, and of any regular or annual meeting for which notice is required, shall be given to each director at least (a) 24 hours before the meeting if by telephone or by being personally delivered or sent by overnight courier, telecopy, electronic transmission, email or similar means or (b) five days before the meeting if delivered by mail to the director's residence or usual place of business. Such notice shall be deemed to be delivered when deposited in the United States mail so addressed, with postage prepaid, or when transmitted if sent by telex, telecopy, electronic transmission, email or similar means. Neither the business to be transacted at, nor the purpose of, any special meeting of the Board of Directors need be specified in the notice or waiver of notice of such meeting.

SECTION 7&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Notice</u>. Whenever notice is required to be given under the Certificate of Incorporation or these Bylaws, a written waiver, signed by a member of the Board of Directors or a committee entitled to notice, or a waiver by electronic transmission given thereby, whether before or after the time stated therein, shall be deemed equivalent to notice. Neither the business to be transacted at, nor the purpose of, any meeting of the Board of Directors or a committee thereof need be specified in any waiver of notice of such meeting. Any member of the Board of Directors or any committee thereof who is present at a meeting shall have waived notice of such meeting except when such member attends for the express purpose of objecting at the beginning of the meeting to the transaction of any business because the meeting is not lawfully called or convened and does not further participate in the meeting.

SECTION 8&nbsp;&nbsp;&nbsp;&nbsp;<u>Chair of the Board of Directors, Quorum, Required Vote and Adjournment</u>. The Board of Directors may elect, by the affirmative vote of a majority of the directors then in office, a Chair of the Board of Directors. The Chair of the Board of Directors must be a director. Unless expressly designated as such by the Board of Directors, the Chair of the Board of Directors shall not be deemed to be an officer of the Corporation. Subject to the provisions of these Bylaws and the direction of the Board of Directors, the Chair of the Board of Directors shall perform all duties and have all powers which are commonly incident to the position of Chair of the Board of Directors, preside at all meetings of the Board of Directors at which they are present and have such powers and perform such duties as may from time to time be prescribed by the Board of Directors or these Bylaws. If the Chair of the Board of Directors is not present at a meeting of the Board of Directors, the Chief Executive Officer (if the Chief Executive Officer is a director and is also not the Chair of the Board of Directors) shall preside at such meeting, and, if the Chief Executive Officer is not present at such meeting, a majority of the directors present at such meeting shall elect one of the directors present at the meeting to so preside. At all meetings of the Board of

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Directors, a majority of the directors then in office shall constitute a quorum for the transaction of business; <u>provided</u>, <u>however</u>, that a quorum shall never be less than one-third of the total number of directors. Unless by express provision of an applicable law, the Certificate of Incorporation or these Bylaws a different vote is required, the vote of a majority of directors present at a meeting at which a quorum is present shall be the act of the Board of Directors. At any meeting of the Board of Directors, business shall be transacted in such order and manner as the Board of Directors may from time to time determine. If a quorum shall not be present at any meeting of the Board of Directors, the directors present thereat may, to the fullest extent permitted by law, adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present.

SECTION 9&nbsp;&nbsp;&nbsp;&nbsp;<u>Committees</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors may designate one or more committees, including an executive committee and any committees required by the rules and regulations of such exchange as any securities of the Corporation are listed, consisting of one or more of the directors of the Corporation. The Board of Directors may designate one or more directors as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee. Except to the extent restricted by applicable law or the Certificate of Incorporation, each such committee, to the extent provided by the DGCL and in the resolution creating it, shall have and may exercise all the powers and authority of the Board of Directors, and may authorize the seal of the Corporation to be affixed to all papers which may require it. Each such committee shall serve at the pleasure of the Board of Directors. Each committee shall keep regular minutes of its meetings and report the same to the Board of Directors upon request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each committee of the Board of Directors may fix its own rules of procedure and shall hold its meetings as provided by such rules, except as may otherwise be provided by a resolution of the Board of Directors designating such committee. Unless otherwise provided in such a resolution, the presence of at least a majority of the members of the committee shall be necessary to constitute a quorum. All matters shall be determined by a majority vote of the members present at a meeting at which a quorum is present. Unless otherwise provided in such a resolution, in the event that a member of such committee is or are absent or disqualified, the member or members present at any meeting and not disqualified from voting, whether or not such member or members constitute a quorum, may unanimously appoint another member of the Board of Directors to act at the meeting in place of any such absent or disqualified member.

SECTION 10&nbsp;&nbsp;&nbsp;&nbsp;<u>Action by Written Consent</u>. Unless otherwise restricted by the Certificate of Incorporation or these Bylaws, any action required or permitted to be taken at any meeting of the Board of Directors, or of any committee thereof, may be taken without a meeting if all members of the Board of Directors or such committee, as the case may be, consent thereto in writing or by electronic transmission. After an action is taken, the consent or consents relating thereto shall be filed with the minutes of proceedings of the Board of Directors or committee. Such filing shall be in paper form if the minutes are maintained in paper form and shall be in electronic form if the minutes are maintained in electronic form.

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SECTION 11&nbsp;&nbsp;&nbsp;&nbsp;<u>Compensation</u>. The Board of Directors shall have the authority to fix the compensation, including fees, reimbursement of expenses and equity compensation, of directors for services to the Corporation in any capacity, including for attendance of meetings of the Board of Directors or participation on any committees. No such payment shall preclude any director from serving the Corporation in any other capacity and receiving compensation therefor.

SECTION 12&nbsp;&nbsp;&nbsp;&nbsp;<u>Reliance on Books and Records</u>. A member of the Board of Directors, or a member of any committee designated by the Board of Directors, shall, in the performance of such member's duties, be fully protected in relying in good faith upon records of the Corporation and upon such information, opinions, reports or statements presented to the Corporation by any of the Corporation's officers or employees, or committees of the Board of Directors, or by any other person as to matters the member reasonably believes are within such other person's professional or expert competence and who has been selected with reasonable care by or on behalf of the Corporation.

SECTION 13&nbsp;&nbsp;&nbsp;&nbsp;<u>Telephonic and Other Meetings</u>. Unless restricted by the Certificate of Incorporation, any one or more members of the Board of Directors or any committee thereof may participate in a meeting of the Board of Directors or such committee by means of conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other. Participation by such means shall constitute presence in person at a meeting.

**ARTICLE FOUR**

**<u>OFFICERS</u>**

SECTION 1&nbsp;&nbsp;&nbsp;&nbsp;<u>Election; Term of Office; Appointments</u>. The elected officers of the Corporation shall be elected by the Board of Directors and shall consist of a Chief Executive Officer, a Chief Financial Officer, one or more Executive Vice Presidents, a Treasurer, a Secretary, one or more Assistant Secretaries and such other officers as the Board of Directors from time to time may deem proper. All elected officers shall each have such powers and duties as generally pertain to their respective offices, subject to the specific provisions of this ARTICLE FOUR. Such officers shall also have such powers and duties as from time to time may be conferred by the Board of Directors or by any committee thereof. In addition, the Chair of the Board of Directors or the Chief Executive Officer may appoint such other officers and such agents, as may be necessary or desirable for the conduct of the business of the Corporation. Such other officers and agents shall have such duties and shall hold their offices for such terms as shall be provided in these Bylaws or as may be prescribed by the Board of Directors or such committee or by the Chair of the Board of Directors or the Chief Executive Officer, as the case may be. Elected officers of the Corporation shall hold office until their successors are elected and qualified or until their earlier death, resignation or removal. Two (2) or more offices may be held by the same person.

SECTION 2&nbsp;&nbsp;&nbsp;&nbsp;<u>Removal and Resignation</u>. Any officer of the Corporation may be removed from office with or without cause at any time by the Board of Directors, by a duly authorized committee thereof or, to the extent appointed by such person and unless otherwise provided by resolution of the Board of Directors, by the Chair of the Board of Directors or by the Chief Executive Officer. Any officer may resign at any time upon written notice to the Corporation. Any resignation shall take effect at the date of

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the receipt of that notice or at any later time specified in that notice. Unless otherwise specified in the notice of resignation, the acceptance of the resignation shall not be necessary to make it effective.

SECTION 3&nbsp;&nbsp;&nbsp;&nbsp;<u>Vacancies</u>. Any vacancy in any elected office because of death, resignation, removal or otherwise may be filled by the Board of Directors. A vacancy in any other office may be filled by the Chair of the Board of Directors or the Chief Executive Officer.

SECTION 4&nbsp;&nbsp;&nbsp;&nbsp;<u>Chief Executive Officer</u>. The Chief Executive Officer shall have general supervision of the business of the Corporation and shall see that all orders and resolutions of the Board of Directors are carried into effect. The Chief Executive Officer shall have the power to execute all bonds, mortgages, contracts and other instruments of the Corporation requiring a seal, under the seal of the Corporation, except where required or permitted by applicable law to be otherwise signed and executed and except that the other officers of the Corporation may sign and execute documents when so authorized by these Bylaws, the Board of Directors or the Chief Executive Officer. The Chief Executive Officer shall have such authority and perform such duties in the management of the Corporation as from time to time shall be prescribed by the Board of Directors and, to the extent not so prescribed, the Chief Executive Officer shall have such authority and perform such duties in the management of the Corporation, subject to the control of the Board of Directors, as generally pertain to the office of Chief Executive Officer, respectively.

SECTION 5&nbsp;&nbsp;&nbsp;&nbsp;<u>Chief Financial Officer</u>. The Chief Financial Officer shall be responsible for the overall management of the financial affairs of the Corporation. The Chief Financial Officer shall render a statement of the Corporation's financial condition and an account of all transactions whenever requested by the Board of Directors, by the Chair of the Board of Directors or by the Chief Executive Officer. The Chief Financial Officer shall perform such other duties as may be prescribed by these Bylaws or as may be assigned to them by the Board of Directors, by the Chair of the Board of Directors or by the Chief Executive Officer, and, except as otherwise prescribed by the Board of Directors, they shall have such powers and duties as generally pertain to the office of Chief Financial Officer.

SECTION 6&nbsp;&nbsp;&nbsp;&nbsp;<u>Executive Vice Presidents</u>. Executive Vice Presidents shall perform such duties as from time to time shall be prescribed by these Bylaws, by the Board of Directors, by the Chair of the Board of Directors or by the Chief Executive Officer, and, except as otherwise prescribed by the Board of Directors, they shall have such powers and duties as generally pertain to such office.

SECTION 7&nbsp;&nbsp;&nbsp;&nbsp;<u>Secretary and Assistant Secretaries</u>. The Secretary or person appointed as secretary at all meetings of the Board of Directors and of the stockholders shall record all votes and the minutes of all proceedings in a book to be kept for that purpose, and they shall perform like duties for the committees of the Board of Directors when required. The Secretary shall give, or cause to be given, notice of all meetings of the stockholders and of the Board of Directors, if required. The Secretary shall have custody of the seal of the Corporation and the Secretary or any Assistant Secretary, if there be one, shall have authority to affix the same to any instrument requiring it and when so affixed, it may be attested by the signature of the Secretary or by the signature of any such Assistant Secretary. The Board of Directors may give general authority to any other officer to affix the seal of the Corporation and to attest to the affixing

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by such officer's signature. The Secretary shall see that all books and records pertaining to meetings and proceedings of the Board of Directors (and any committee thereof) and of the stockholders required by applicable law to be kept or filed are properly kept or filed, as the case may be. The Secretary shall perform such other duties as may be prescribed by these Bylaws or as may be assigned to them by the Board of Directors, Chair of the Board of Directors or the Chief Executive Officer, and, except as otherwise prescribed by the Board of Directors, they shall have such powers and duties as generally pertain to the office of Secretary. The Assistant Secretary, or if there be more than one, any of the Assistant Secretaries, shall in the absence or disability of the Secretary, perform the duties and exercise the powers of the Secretary and shall perform such other duties and have such other powers as the Board of Directors, the Chair of the Board of Directors, the Chief Executive Officer or Secretary may, from time to time, prescribe.

SECTION 8&nbsp;&nbsp;&nbsp;&nbsp;<u>Treasurer</u>. The Treasurer shall have responsibility for the Corporation's funds and securities. They shall perform such other duties as may be prescribed by these Bylaws or as may be assigned to them by the Chair of the Board of Directors, the Chief Executive Officer, the Chief Financial Officer or the Board of Directors, and, except as otherwise prescribed by the Board of Directors, they shall have such powers and duties as generally pertain to the office of Treasurer.

**ARTICLE FIVE**

**<u>STOCK</u>**

SECTION 1&nbsp;&nbsp;&nbsp;&nbsp;<u>Uncertificated Shares</u>. Unless otherwise provided by resolution of the Board of Directors, each class or series of shares of the Corporation's capital stock shall be issued in uncertificated form.

SECTION 2&nbsp;&nbsp;&nbsp;&nbsp;<u>Form of Certificates</u>. If shares are represented by certificates, the certificates shall be in such form as required by applicable law and as determined by the Board of Directors. Each such certificate shall represent the number of shares registered in certificate form and shall be signed by or in the name of the Corporation by two authorized officers of the Corporation. Any or all signatures on any such certificate may be a facsimile. In case any officer, transfer agent or registrar who has signed, or whose facsimile signature or signatures have been used on, any such certificate or certificates shall cease to be such officer, transfer agent or registrar of the Corporation whether because of death, resignation or otherwise before such certificate or certificates have been issued by the Corporation, such certificate or certificates may nevertheless be issued as though the person or persons who signed such certificate or certificates or whose facsimile signature or signatures have been used thereon had not ceased to be such officer, transfer agent or registrar of the Corporation at the date of issue. All certificates for shares shall be consecutively numbered or otherwise identified.

SECTION 3&nbsp;&nbsp;&nbsp;&nbsp;<u>Transfer</u>. The Board of Directors may appoint a transfer agent or registrar, or both, for any class or series of securities of the Corporation. The Corporation, or its designated transfer agent or other agent, shall keep a book or set of books to be known as the stock transfer books of the Corporation, containing the name of each holder of record, together with such holder's address and the number and class or series of shares held by such holder and the date of issue. When shares are represented by certificates, such shares shall only be transferred on the books of the Corporation by the holder of record

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thereof or by such holder's attorney duly authorized in writing, upon surrender to the Corporation or its designated transfer agent or other agent of the certificate or certificates for such shares endorsed by the appropriate person or persons, with such evidence of the authenticity of such endorsement, transfer, authorization and other matters as the Corporation may reasonably require and accompanied by all necessary stock transfer stamps. When shares are in uncertificated form, such shares shall only be transferred on the books of the Corporation by the holder of record thereof or by such holder's attorney duly authorized in writing, with such evidence of the authenticity of such transfer, authorization and other matters as the Corporation may reasonably require, and accompanied by all necessary stock transfer stamps, and within a reasonable time after the issuance or transfer of such shares, the Corporation shall, if required by applicable law, send the holder to whom such shares have been issued or transferred a written statement of the information required by applicable law. Unless otherwise provided by applicable law, the Certificate of Incorporation, the Bylaws or any other instrument, the rights and obligations of the holders of uncertificated stock and the rights and obligations of the holders of certificates representing stock of the same class and series shall be identical.

SECTION 4&nbsp;&nbsp;&nbsp;&nbsp;<u>Lost Certificates</u>. The Corporation may issue or direct a new certificate or certificates or uncertificated shares to be issued in place of any certificate or certificates previously issued by the Corporation alleged to have been lost, stolen or destroyed, upon the making of an affidavit of that fact by the owner of the lost, stolen or destroyed certificate. When authorizing such issue of a new certificate or certificates or uncertificated shares, the Corporation may, in its discretion and as a condition precedent to the issuance thereof, require the owner of such lost, stolen or destroyed certificate or certificates, or their legal representative, to give the Corporation a bond in such sum as it may direct, sufficient to indemnify the Corporation against any claim that may be made against the Corporation on account of the alleged loss, theft or destruction of any such certificate or the issuance of such new certificate or uncertificated shares.

SECTION 5&nbsp;&nbsp;&nbsp;&nbsp;<u>Registered Stockholders</u>. The Corporation shall be entitled to recognize the exclusive right of a person registered on its records as the owner of shares of stock to receive dividends, to vote, to receive notifications and otherwise to exercise all the rights and powers of an owner, except as otherwise required by applicable law. The Corporation shall not be bound to recognize any equitable or other claim to or interest in such share or shares of stock on the part of any other person, whether or not it shall have express or other notice thereof, except as otherwise required by applicable law.

SECTION 6&nbsp;&nbsp;&nbsp;&nbsp;<u>Fixing a Record Date for Purposes Other than Stockholder Meetings or Action by</u> <u>Written Consent</u>. In order that the Corporation may determine the stockholders entitled to receive payment of any dividend or other distribution or allotment or any rights or the stockholders entitled to exercise any rights in respect of any change, conversion or exchange of stock, or for the purposes of any other lawful action (other than stockholder meetings and stockholder action by written consent, which are expressly governed by Section 12 of ARTICLE TWO and Section 13 of ARTICLE TWO hereof, respectively), the Board of Directors may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted, and which record date shall be not more than 60 days prior to such action. If no record date is fixed, the record date for determining stockholders for

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any such purpose shall be at the Close of Business (as defined in Section 11 of ARTICLE TWO) on the day on which the Board of Directors adopts the resolution relating thereto.

**ARTICLE SIX**

**<u>GENERAL PROVISIONS</u>**

SECTION 1&nbsp;&nbsp;&nbsp;&nbsp;<u>Dividends</u>. Subject to and in accordance with applicable law, the Certificate of Incorporation and any certificate of designation relating to any series of preferred stock, dividends upon the shares of capital stock of the Corporation may be declared and paid by the Board of Directors, in accordance with applicable law. Dividends may be paid in cash, in property or in shares of the Corporation's capital stock, subject to the provisions of applicable law and the Certificate of Incorporation. Before payment of any dividend, there may be set aside out of any funds of the Corporation available for dividends a reserve or reserves for any proper purpose. The Board of Directors may modify or abolish any such reserves in the manner in which they were created.

SECTION 2&nbsp;&nbsp;&nbsp;&nbsp;<u>Checks, Notes, Drafts, Etc</u>. All checks, notes, drafts or other orders for the payment of money of the Corporation shall be signed, endorsed or accepted in the name of the Corporation by such officer, officers, person or persons as from time to time may be designated by the Board of Directors or by an officer or officers authorized by the Board of Directors to make such designation.

SECTION 3&nbsp;&nbsp;&nbsp;&nbsp;<u>Contracts</u>. In addition to the powers otherwise granted to officers pursuant to ARTICLE FOUR hereof, the Board of Directors may authorize any officer or officers, or any agent or agents, in the name and on behalf of the Corporation to enter into or execute and deliver any and all deeds, bonds, mortgages, contracts and other obligations or instruments, and such authority may be general or confined to specific instances.

SECTION 4&nbsp;&nbsp;&nbsp;&nbsp;<u>Fiscal Year</u>. The fiscal year of the Corporation shall be fixed by resolution of the Board of Directors.

SECTION 5&nbsp;&nbsp;&nbsp;&nbsp;<u>Corporate Seal</u>. The Board of Directors may provide a corporate seal which shall be in the form of a circle and shall have inscribed thereon the name of the Corporation and the words "Corporate Seal, Delaware." The seal may be used by causing it or a facsimile thereof to be impressed or affixed or reproduced or otherwise. Notwithstanding the foregoing, no seal shall be required by virtue of this Section 5 of ARTICLE SIX.

SECTION 6&nbsp;&nbsp;&nbsp;&nbsp;<u>Voting Securities Owned By Corporation</u>. Voting securities or interests in any other corporation or entity owned or held by the Corporation may be voted by the Chair of the Board of Directors, Chief Executive Officer or the Chief Financial Officer, unless the Board of Directors specifically confers authority to vote with respect thereto, which authority may be general or confined to specific instances, upon some other person or officer. Any person authorized to vote such securities or interests shall have the power to appoint proxies, with general power of substitution.

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SECTION 7&nbsp;&nbsp;&nbsp;&nbsp;<u>Facsimile Signatures</u>. In addition to the provisions for use of facsimile signatures elsewhere specifically authorized in these Bylaws and subject to applicable law, facsimile and any other forms of electronic signatures of any officer or officers of the Corporation may be used.

SECTION 8&nbsp;&nbsp;&nbsp;&nbsp;<u>Section Headings</u>. Section headings in these Bylaws are for convenience of reference only and shall not be given any substantive effect in limiting or otherwise construing any provision herein.

SECTION 9&nbsp;&nbsp;&nbsp;&nbsp;<u>Inconsistent Provisions</u>. In the event that any provision (or part thereof) of these Bylaws is or becomes inconsistent with any provision of the Certificate of Incorporation, the DGCL or any other applicable law, the provision (or part thereof) of these Bylaws shall not be given any effect to the extent of such inconsistency but shall otherwise be given full force and effect.

**ARTICLE SEVEN**

**<u>INDEMNIFICATION</u>**

SECTION 1&nbsp;&nbsp;&nbsp;&nbsp;<u>Right to Indemnification and Advancement</u>. Each person who was or is made a party or is threatened to be made a party to or is otherwise involved (including involvement, without limitation, as a witness) in any actual or threatened action, suit or proceeding, whether civil, criminal, administrative or investigative (a "<u>proceeding</u>"), by reason of the fact that they are or were a director or officer of the Corporation or, while a director or officer of the Corporation, is or was serving at the request of the Corporation as a director, officer, partner, member, trustee, administrator, employee or agent of another corporation or of a partnership, joint venture, trust or other enterprise, including service with respect to an employee benefit plan (an "<u>indemnitee</u>"), whether the basis of such proceeding is alleged action in an official capacity as a director or officer or in any other capacity while serving as a director or officer, shall be indemnified and held harmless by the Corporation to the fullest extent authorized by the DGCL, as the same exists or may hereafter be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Corporation to provide broader indemnification rights than permitted prior thereto), against all expense, liability and loss (including attorneys' fees and related disbursements, judgments, fines, excise taxes or penalties under the Employee Retirement Income Security Act of 1974, as amended from time to time ("<u>ERISA</u>") and any other penalties and amounts paid or to be paid in settlement) reasonably incurred or suffered by such indemnitee in connection therewith and such indemnification shall continue as to an indemnitee who has ceased to be a director or officer of the Corporation or a director, officer, partner, member trustee, administrator, employee or agent of another corporation, as applicable, and shall inure to the benefit of the indemnitee's heirs, executors and administrators; <u>provided</u>, <u>however</u>, that, except as provided in Section 2 of this ARTICLE SEVEN with respect to proceedings to enforce rights to indemnification and advance of expenses (as defined below), the Corporation shall indemnify any such indemnitee in connection with a proceeding (or part thereof) initiated by such indemnitee only if such proceeding (or part thereof) was authorized in the specific case by the Board of Directors. In addition to the right to indemnification conferred herein, an indemnitee shall also have the right, to the fullest extent not prohibited by law, to be paid by the Corporation the expenses incurred in defending any such proceeding in advance of its final disposition (an "<u>advance of expenses</u>"); <u>provided</u>, <u>however</u>, that an advance of expenses shall be made only upon delivery to the Corporation of

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an undertaking (an "<u>undertaking</u>"), by or on behalf of such indemnitee, to repay all amounts so advanced if it shall ultimately be determined by final judicial decision from which there is no further right to appeal that such indemnitee is not entitled to be indemnified for such expenses under this Section 1 of ARTICLE SEVEN or otherwise. The rights to indemnification and advance of expenses conferred in this Section 1 of ARTICLE SEVEN shall be contract rights. The Corporation may also, by action of its Board of Directors, provide indemnification and advancement to employees and agents of the Corporation. Any reference to an officer of the Corporation in this ARTICLE SEVEN shall be deemed to refer exclusively to the elected officers who are elected by the Board of Directors pursuant to the first sentence of Section 1 of ARTICLE FOUR.

SECTION 2&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedure for Indemnification</u>. Any claim for indemnification or advance of expenses by an indemnitee under this Section 2 of ARTICLE SEVEN shall be made promptly, and in any event within 45 days (or, in the case of an advance of expenses, 20 days; <u>provided</u> that the director or officer has delivered the undertaking contemplated by Section 1 of this ARTICLE SEVEN), upon the written request of the indemnitee. If the Corporation denies a written request for indemnification or advance of expenses, in whole or in part, or if payment in full pursuant to such request is not made within 45 days (or, in the case of an advance of expenses, 20 days; <u>provided</u> that the indemnitee has delivered the undertaking contemplated by Section 1 of this ARTICLE SEVEN), the right to indemnification or advances as granted by this ARTICLE SEVEN shall be enforceable by the indemnitee in the Delaware Court of Chancery. Such person's costs and expenses incurred in connection with successfully establishing their right to indemnification, in whole or in part, in any such action shall also be indemnified by the Corporation to the fullest extent permitted by applicable law. It shall be a defense to any such action (other than an action brought to enforce a claim for the advance of expenses where the undertaking required pursuant to Section 1 of this ARTICLE SEVEN has been tendered to the Corporation) that the claimant has not met the applicable standard of conduct which makes it permissible under the DGCL for the Corporation to indemnify the claimant for the amount claimed, but the burden of proof shall be on the Corporation to the fullest extent permitted by law. Neither the failure of the Corporation (including its Board of Directors, a committee thereof, independent legal counsel or its stockholders) to have made a determination prior to the commencement of such action that indemnification of the claimant is proper in the circumstances because they have met the applicable standard of conduct set forth in the DGCL, nor an actual determination by the Corporation (including its Board of Directors, independent legal counsel or its stockholders) that the claimant has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that the claimant has not met the applicable standard of conduct.

SECTION 3&nbsp;&nbsp;&nbsp;&nbsp;<u>Insurance</u>. The Corporation may purchase and maintain insurance on its own behalf and on behalf of any person who is or was a director, officer, employee or agent of the Corporation or is or was serving at the request of the Corporation as a director, officer, partner, member, trustee, administrator, employee or agent of another corporation, partnership, joint venture, limited liability company, trust or other enterprise against any expense, liability or loss asserted against them and incurred by them in any such capacity, or arising out of their status as such, whether or not the Corporation would have the power to indemnify such person against such expenses, liability or loss under the DGCL.

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SECTION 4&nbsp;&nbsp;&nbsp;&nbsp;<u>Reliance</u>. Persons who after the date of the adoption of this provision become or remain directors or officers of the Corporation or who, while a director or officer of the Corporation, become or remain, at the request of the Corporation, a director, officer, partner, member, trustee, administrator, employee or agent of another corporation or of a partnership, joint venture, trust or other enterprise, including service with respect to an employee benefit plan, shall be conclusively presumed to have relied on the rights to indemnity, advance of expenses and other rights contained in this ARTICLE SEVEN in entering into or continuing such service. To the fullest extent permitted by law, the rights to indemnification and to the advance of expenses conferred in this ARTICLE SEVEN shall apply to claims made against an indemnitee arising out of acts or omissions which occurred or occur both prior and subsequent to the adoption hereof. Any amendment, alteration or repeal of this ARTICLE SEVEN that adversely affects any right of an indemnitee or its successors shall be prospective only and shall not limit, eliminate or impair any such right with respect to any proceeding involving any occurrence or alleged occurrence of any action or omission to act that took place prior to such amendment or repeal.

SECTION 5&nbsp;&nbsp;&nbsp;&nbsp;<u>Non-Exclusivity of Rights; Continuation of Rights of Indemnification</u>. The rights to indemnification and to the advance of expenses conferred in this ARTICLE SEVEN shall not be exclusive of any other right which any person may have or hereafter acquire under the Certificate of Incorporation or under any statute, bylaw, agreement, vote of stockholders or disinterested directors or otherwise. All rights to indemnification under this ARTICLE SEVEN shall be deemed to be a contract between the Corporation and each director or officer of the Corporation who serves or served in such capacity at any time while this ARTICLE SEVEN is in effect. Any repeal or modification of this ARTICLE SEVEN or repeal or modification of relevant provisions of the DGCL or any other applicable laws shall not in any way diminish any rights to indemnification and advancement of expenses of such director or officer or the obligations of the Corporation arising hereunder with respect to any proceeding arising out of, or relating to, any actions, transactions or facts occurring prior to the final adoption of such repeal or modification.

SECTION 6&nbsp;&nbsp;&nbsp;&nbsp;<u>Savings Clause</u>. To the fullest extent permitted by law, if this ARTICLE SEVEN or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Corporation shall nevertheless indemnify and advance expenses to each person entitled to indemnification under Section 1 of this ARTICLE SEVEN as to all expense, liability and loss (including attorneys' fees and related disbursements, judgments, fines, ERISA excise taxes and penalties and any other penalties and amounts paid or to be paid in settlement) actually and reasonably incurred or suffered by such person and for which indemnification and advancement of expenses is available to such person pursuant to this ARTICLE SEVEN to the fullest extent permitted by any applicable portion of this ARTICLE SEVEN that shall not have been invalidated.

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**ARTICLE EIGHT**

**<u>AMENDMENTS</u>**

These Bylaws may be amended, altered, changed or repealed or new Bylaws adopted only in accordance with Section 1 of ARTICLE NINE of the Certificate of Incorporation.

\* \* \* \* \*

## Exhibit 10.1

**Exhibit 10.1**

SEPARATION AGREEMENT

by and between

MEDTRONIC GROUP HOLDING, INC.

and

KANGAROO US HOLDCO 2, INC.

Dated as of March 1, 2026

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**TABLE OF CONTENTS**

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| | |
|:---|:---|
| | **Page** |
| Article I Definitions | 3 |
| SECTION 1.01. Definitions | 3 |
| Article II The Separation | 22 |
| SECTION 2.01. Transfer of Assets and Assumption of Liabilities | 22 |
| SECTION 2.02. Certain Matters Governed Exclusively by Ancillary Agreements | 24 |
| SECTION 2.03. Termination of Intercompany Agreements and Intercompany<br>Accounts | 25 |
| SECTION 2.04. Shared Contracts | 26 |
| SECTION 2.05. Disclaimer of Representations and Warranties | 27 |
| SECTION 2.06. Conveyancing and Assumption Instruments | 27 |
| SECTION 2.07. Deferred Markets | 28 |
| SECTION 2.08. Waiver of Bulk Sales | 29 |
| Article III Credit Support | 30 |
| SECTION 3.01. Replacement of Medtronic Credit Support | 30 |
| SECTION 3.02. Replacement of SplitCo Credit Support. | 31 |
| SECTION 3.03. Written Notice of Credit Support Instruments | 32 |
| Article IV Actions Pending the Separation | 32 |
| SECTION 4.01. Actions Prior to the Separation | 32 |
| SECTION 4.02. Conditions Precedent to Consummation of the Separation | 33 |
| SECTION 4.03. Separation Date; Cash Consideration; MiniMed BV Note | 34 |
| SECTION 4.04. Sole Discretion of Medtronic | 36 |
| Article V The Initial Public Offering; Divestment or Other Disposition | 36 |
| SECTION 5.01. The Initial Public Offering | 36 |
| SECTION 5.02. The Divestment or Other Disposition | 36 |
| Article VI Mutual Releases; Indemnification | 37 |
| SECTION 6.01. Release of Pre-Separation Claims | 37 |
| SECTION 6.02. Indemnification by SplitCo | 39 |
| SECTION 6.03. Indemnification by Medtronic | 40 |

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| | |
|:---|:---|
| SECTION 6.04. Indemnification Obligations Net of Insurance Proceeds and<br>Third-Party Proceeds. | 40 |
| SECTION 6.05. Procedures for Indemnification of Third-Party Claims | 41 |
| SECTION 6.06. Additional Matters. | 41 |
| SECTION 6.07. Right to Contribution. | 42 |
| SECTION 6.08. Remedies Cumulative | 42 |
| SECTION 6.09. Survival of Indemnities | 42 |
| SECTION 6.10. Limitation on Liability | 42 |
| SECTION 6.11. Covenant Not to Sue | 42 |
| SECTION 6.12. Management of Actions | 43 |
| SECTION 6.13. TMA Governs | 44 |
| SECTION 6.14. Additional Environmental Terms and Procedures | 44 |
| Article VII Access to Information; Confidentiality | 44 |
| SECTION 7.01. Agreement for Exchange of Information; Archives | 44 |
| SECTION 7.02. Ownership of Information | 45 |
| SECTION 7.03. Compensation for Providing Information | 45 |
| SECTION 7.04. Record Retention | 45 |
| SECTION 7.05. Disclosure and Financial Reporting | 46 |
| SECTION 7.06. No Liability | 54 |
| SECTION 7.07. Production of Witnesses; Records; Cooperation | 54 |
| SECTION 7.08. Privileged Matters | 54 |
| SECTION 7.09. Confidential Information | 56 |
| Article VIII Insurance | 58 |
| SECTION 8.01. Maintenance of Insurance | 58 |
| SECTION 8.02. Claims under Medtronic Insurance Policies | 58 |
| SECTION 8.03. Claims under SplitCo Insurance Policies | 60 |
| SECTION 8.04. Insurance Proceeds | 61 |
| SECTION 8.05. Claims Not Reimbursed | 61 |
| SECTION 8.06. Certain Limitations | 61 |
| SECTION 8.07. Coverage After the Separation | 61 |
| SECTION 8.08. No Assignment of Entire Insurance Policies | 62 |

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| | |
|:---|:---|
| SECTION 8.09. Director and Officer Liability Insurance | 62 |
| Article IX Further Assurances and Additional Covenants | 62 |
| SECTION 9.01. Further Assurances | 62 |
| Article X Termination | 64 |
| SECTION 10.01. Termination | 64 |
| SECTION 10.02. Effect of Termination | 64 |
| Article XI Miscellaneous | 64 |
| SECTION 11.01. Counterparts; Entire Agreement; Corporate Power | 64 |
| SECTION 11.02. Governing Law; Dispute Resolution; Jurisdiction | 65 |
| SECTION 11.03. Assignability | 66 |
| SECTION 11.04. Third-Party Beneficiaries | 66 |
| SECTION 11.05. Notices | 67 |
| SECTION 11.06. Severability | 68 |
| SECTION 11.07. Publicity | 68 |
| SECTION 11.08. Expenses | 69 |
| SECTION 11.09. Headings | 69 |
| SECTION 11.10. Survival of Covenants | 69 |
| SECTION 11.11. Waivers of Default | 69 |
| SECTION 11.12. Specific Performance | 70 |
| SECTION 11.13. No Admission of Liability | 70 |
| SECTION 11.14. Amendments; Waivers | 70 |
| SECTION 11.15. Right of Set-Off | 70 |
| SECTION 11.16. Interpretation | 70 |
| SECTION 11.17. Waiver of Jury Trial | 71 |

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| | |
|:---|:---|
| SCHEDULES | |
| Schedule I | Medtronic Retained Assets |
| Schedule II | Medtronic Retained Liabilities |
| Schedule III | SplitCo Equity Interests |
| Schedule IV | SplitCo Assets |
| Schedule V | SplitCo Business Brands and Product Lines |
| Schedule VI | [Reserved] |
| Schedule VII | SplitCo Liabilities |
| Schedule VIII | Shared Contracts |
| Schedule IX | Intercompany Agreements and Intercompany Accounts |
| Schedule X | SplitCo Cash Balance |
| Schedule XI | SplitCo-Managed Actions |
| Schedule XII | Medtronic-Managed Actions |
| Schedule XIII | Jointly Managed Actions |
| Schedule XIV | Deferred Markets |
| Schedule XV | Specified Environmental Liabilities |
| Schedule XVI | Financial Reporting |
| Schedule XVII | SplitCo Intellectual Property |
| Schedule XVIII | Credit Support Instrument Obligations |
| Schedule XIX | Environmental Terms and Procedures |
| Schedule XX | Medtronic Pre-Separation Insurance Claims Procedures |

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EXHIBITS

Exhibit A&nbsp;&nbsp;&nbsp;&nbsp;Form of Registration Rights Agreement

Exhibit B&nbsp;&nbsp;&nbsp;&nbsp;Step Plan

iv

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This SEPARATION AGREEMENT, dated as of March 1, 2026, by and between (i) Medtronic Group Holding, Inc., a Minnesota corporation ("<u>Medtronic</u>") and (ii) Kangaroo US HoldCo 2, Inc., a Delaware corporation (prior to the SplitCo Merger (as defined below), "SplitCo" and, following the SplitCo Merger, ("<u>Initial SplitCo Party</u>")), which on or before the Separation Date shall be merged with and into MiniMed Group, Inc., a Delaware corporation ("<u>SplitCo Parent</u>" whether prior to or following the SplitCo Merger), and, following the SplitCo Merger, ("SplitCo") with SplitCo Parent surviving such merger (the "<u>SplitCo Merger</u>") and continuing as "SplitCo" hereunder. Capitalized terms used herein and not otherwise defined shall have the respective meaning assigned to them in <u>Article I</u> hereof.

R E C I T A L S

WHEREAS, Medtronic plc, an Irish public limited company and the ultimate parent company of Medtronic ("<u>Medtronic Parent</u>"), acting through itself and its direct and indirect Subsidiaries, currently conducts the Medtronic Business and the SplitCo Business;

WHEREAS, the board of directors of Medtronic Parent has determined that it is in the best interests of Medtronic Parent and its shareholders to create a new publicly traded company that will operate the SplitCo Business;

WHEREAS, in furtherance of the foregoing, the board of directors of Medtronic Parent has determined that it is desirable and appropriate to effect the transactions constituting the Separation to transfer certain assets and liabilities to SplitCo, a wholly owned Subsidiary of Medtronic Parent, on the terms and conditions set forth in this Agreement;

WHEREAS, to effect the Separation, certain members of the Medtronic Group shall contribute, convey, transfer, assign and deliver to members of the SplitCo Group, and members of the SplitCo Group shall accept and assume from members of the Medtronic Group, all of the right, title and interest of the members of the Medtronic Group in, to and under certain of the Assets and Liabilities relating to the SplitCo Business, in each case on the terms and subject to the conditions of this Agreement;

WHEREAS, in accordance with the Step Plan, following the execution of this Agreement and prior to the Initial Public Offering, among other things, Medtronic, Inc., a Delaware corporation ("<u>Internal Distributing</u>") shall contribute certain SplitCo Assets (including all of the stock of Medtronic MiniMed, Inc.) to Kangaroo US HoldCo, Inc., a Delaware corporation ("<u>Internal Controlled</u>") in consideration for (a) constructive issuance of stock of Internal Controlled and (b) an amount of Cash to be determined in accordance with <u>Section 4.03</u> and <u>Schedule X</u> (the "<u>Medtronic, Inc. Contribution</u>");

WHEREAS, in accordance with the Step Plan, following the Medtronic, Inc. Contribution, Internal Distributing shall distribute all of the stock of Internal Controlled to Medtronic Holding Inc., a Minnesota corporation (the "<u>Internal Distribution</u>");

WHEREAS, for U.S. federal income tax purposes, the Medtronic, Inc. Contribution and the Internal Distribution, taken together, are intended to qualify as a

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"reorganization" within the meaning of Section 368(a)(1)(D) and Section 355 of the United States Internal Revenue Code of 1986, as amended (the "<u>Code</u>");

WHEREAS, following the consummation of the SplitCo Merger, SplitCo Parent will be the successor to Initial SplitCo Party and will continue as "SplitCo" for all purposes of this Agreement, with all of the accompanying rights and obligations;

WHEREAS, the board of directors of Medtronic Parent has determined in connection with the Separation, on the terms contemplated hereby, to cause SplitCo Parent to offer and sell in the Initial Public Offering a number of shares of SplitCo Common Stock constituting no more than 19.9% of the outstanding shares of SplitCo Common Stock;

WHEREAS, Medtronic Parent will cause SplitCo Parent to implement the Initial Public Offering;

WHEREAS, following the Initial Public Offering, Medtronic Parent intends to transfer at least 80.1% of the shares of SplitCo Common Stock to shareholders of Medtronic Parent by means of a divestment by Medtronic Parent to its shareholders of shares of SplitCo Common Stock, an offer to shareholders of Medtronic Parent to exchange shares of Medtronic Parent Ordinary Shares for shares of SplitCo Common Stock, or any combination thereof (the "<u>Divestment</u>"), it being understood that Medtronic Parent, in its sole discretion (as further described in <u>Section 5.02</u> of this Agreement), may choose not to implement the Divestment or to effect a disposition of shares of SplitCo Common Stock pursuant to one or more public or private offerings or other similar transactions, or transfer, exchange or otherwise dispose of shares of SplitCo Common Stock in one or more transactions (including in connection with any debt-for-equity exchange or a subsequent divestment or exchange offer of SplitCo Common Stock) (the "<u>Other Disposition</u>") instead of the Divestment.

WHEREAS, for U.S. federal income tax purposes, the Divestment, if effected, is intended to qualify as a transaction that is generally tax-free for U.S. federal income tax purposes under Section 355 of the Code;

WHEREAS, it is appropriate and desirable to set forth the principal corporate transactions required to effect the Separation and the Initial Public Offering and describe certain other agreements that will govern certain matters relating to the Separation, the Initial Public Offering and the Divestment or the Other Disposition, as applicable, and the relationship of Medtronic Parent, Medtronic, SplitCo and their respective Subsidiaries following the Separation.

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained in this Agreement, the Parties, intending to be legally bound, hereby agree as follows:

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Article I

<u>Definitions</u>

SECTION 1.01. <u>Definitions</u>. For the purposes of this Agreement, the following terms shall have the following meanings:

"<u>Action</u>" means any claim, charge, demand, action, suit, countersuit, arbitration, inquiry, proceeding or investigation by or before any Governmental Authority or any Federal, state, local, foreign or international arbitration or mediation tribunal.

"<u>Actual Payor</u>" has the meaning set forth in <u>Section 11.08(b)</u>.

"<u>Adversarial Action</u>" means (a) an Action by a member of the Medtronic Group, on the one hand, against a member of the SplitCo Group, on the other hand, or (b) an Action by a member of the SplitCo Group, on the one hand, against a member of the Medtronic Group, on the other hand.

"<u>Affiliate</u>" of any Person means a Person that controls, is controlled by or is under common control with such Person. As used herein, "control" of any entity means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such entity, whether through ownership of voting securities or other interests, by Contract or otherwise; <u>provided</u>, <u>however</u>, that for purposes of this Agreement, (a) SplitCo and the other members of the SplitCo Group shall not be considered Affiliates of Medtronic or any of the other members of the Medtronic Group and (b) Medtronic and the other members of the Medtronic Group shall not be considered Affiliates of SplitCo or any of the other members of the SplitCo Group.

"<u>Agreement</u>" means this Separation Agreement, including the Schedules hereto.

"<u>Ancillary Agreements</u>" means the TSA, the TMA, the EMA, the IP Agreements, the Transitional Trademark Cross-License Agreement, the Trademark Co-Existence Agreement, the Supply Agreement, Net Economic Benefit Agreement, Undisclosed Agency Agreement, and any Conveyancing and Assumption Instruments or other agreements executed by a member of the Medtronic Group, on the one hand, and a member of the SplitCo Group, on the other hand, in connection with the implementation of the transactions contemplated by this Agreement.

"<u>Annual Upfront Claims Payment</u>" has the meaning set forth in <u>Section 8.02(c)</u>.

"<u>Assets</u>" means all assets, properties and rights (including goodwill), wherever located (including in the possession of vendors or other third parties or elsewhere), whether real, personal or mixed, tangible or intangible, or accrued or contingent, in each case whether or not

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recorded or reflected or required to be recorded or reflected on the books and records or financial statements of any Person, including the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all Information in tangible form, and all accounting and other books, records and files, whether in paper, microfilm, microfiche, computer tape or disc, magnetic tape, electronic recording or any other form;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all apparatus, computers and other electronic data processing equipment, fixtures, machinery, furniture, office and other equipment, including hardware systems, circuits and other computer and telecommunication assets and equipment, automobiles, trucks, aircraft, rolling stock, vessels, motor vehicles and other transportation equipment, special and general tools, test devices, prototypes and models and other tangible personal property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;all inventories of materials, parts, raw materials, supplies, work-in-process and finished goods and products;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;all interests in real property of whatever nature, including buildings, land, structures, improvements, parking lots and fixtures thereon, and all easements and rights-of-way appurtenant thereto, and all leasehold interests, whether as owner, mortgagee or holder of a Security Interest in real property, lessor, sublessor, lessee, sublessee or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;all interests in any capital stock or other equity interests of any Subsidiary or any other Person; all bonds, notes, debentures or other securities issued by any Subsidiary or any other Person; all loans, advances or other extensions of credit or capital contributions to any Subsidiary or any other Person; all other investments in securities of any Subsidiary or any other Person; and all rights as a partner, joint venturer or participant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;all license agreements, leases of personal property, open purchase orders for raw materials, supplies, parts or services, unfilled orders for the manufacture and sale of products and other Contracts and all rights arising thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;all deposits, letters of credit, performance bonds and other surety bonds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;all prepaid expenses, trade accounts and other accounts and notes receivable (whether current or non-current);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;all Intellectual Property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;all claims or rights against any Person arising from the ownership of any other Asset, all rights in connection with any bids or offers, all Actions, judgments or similar rights, all rights under express or implied warranties, all rights of recovery and all rights of setoff of any kind and demands of any nature, in each case whether accrued or contingent, whether in tort, contract or otherwise and whether arising by way of counterclaim or otherwise;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;all rights under insurance policies and all rights in the nature of insurance, indemnification or contribution;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;all Permits and all pending applications therefor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;Cash, bank accounts, lock boxes and other deposit arrangements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;interest rate, currency, commodity or other swap, collar, cap or other hedging or similar agreements or arrangements; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;all goodwill as a going concern.

"<u>Business Day</u>" means any day, other than a Saturday or a Sunday or a day on which banking institutions are authorized or required by Law to be closed in Dublin, Ireland or New York, New York.

"<u>Calculation Factors</u>" has the meaning set forth in <u>Section 4.03(e)</u>.

"<u>Cash</u>" means cash, cash equivalents, bank deposits and marketable securities, whether denominated in United States dollars or otherwise.

"<u>Cash Management Arrangements</u>" shall mean all cash management arrangements pursuant to which any member of the Medtronic Group automatically or manually sweep cash from, or automatically or manually transfer cash to, accounts of any member of the SplitCo Group.

"<u>Code</u>" has the meaning set forth in the Recitals to this Agreement.

"<u>Commission</u>" means the U.S. Securities and Exchange Commission.

"<u>Consents</u>" means any consents, waivers or approvals from, or notification or filing requirements to, any Person other than a member of either Group.

"<u>Contract</u>" means any contract, agreement or other legally binding instrument, including any note, bond, mortgage, deed, indenture, commitment, undertaking, promise, lease, sublease, license or sublicense or joint venture.

"<u>Conveyancing and Assumption Instruments</u>" means, collectively, the various Contracts heretofore entered into and to be entered into to effect the transfer of Assets and the assumption of Liabilities in the manner contemplated by this Agreement and the Step Plan, or otherwise relating to, arising out of or resulting from the transactions contemplated by this Agreement in such form or forms as are consistent with the requirements of <u>Section 2.06</u>.

"<u>Cost of Capital</u>" means, as of any date, Medtronic Parent's weighted average cost of capital as published by Bloomberg L.P. (or any successor thereto) on such date (or if such date is not a Business Day, on the immediately preceding Business Day); provided that if such rate is not available from Bloomberg L.P. on such date, the Cost of Capital shall be determined by Medtronic Parent in its reasonable discretion using the Capital Asset Pricing Model (CAPM) or similar methodologies for its cost of equity and market-based, forward-looking estimates of the Medtronic Parent's cost of borrowing for the cost of debt.

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"<u>Credit Support Instruments</u>" has the meaning set forth in <u>Section 3.01(a)</u>.

"<u>D&O Indemnification Liabilities</u>" means all Liabilities of any member of the Medtronic Group or the SplitCo Group in respect of obligations to indemnify or advance expenses to any Persons who at any time prior to the Separation Closing have been directors or officers of any such member (in each case, in their capacities as such) for any Liabilities arising out of alleged wrongful acts or occurrences before the Separation Closing, in each case under (a) the certificate of incorporation, bylaws or similar organizational documents of the applicable member in effect on the date on which the act or occurrence giving rise to such obligation occurred or (b) any Contract in effect prior to the Separation Closing; <u>provided</u>, <u>however</u>, that to the extent the Medtronic Group and the SplitCo Group are covered during the period between the Separation Closing and the Divestment Date under D&O Insurance Policies that cover both the Medtronic Group and the SplitCo Group in the same policy, the term "Separation Closing" shall be deleted and replaced with the term "Divestment Date" wherever "Separation Closing" appears prior to this proviso in this definition.

"<u>D&O Insurance Policies</u>" has the meaning set forth in <u>Section 8.09(a)</u>.

"<u>Deferred Market</u>" has the meaning set forth in <u>Section 2.07(a)</u>.

"<u>Deferred SplitCo Local Business</u>" has the meaning set forth in <u>Section 2.07(a)</u>.

"<u>Dispute</u>" has the meaning set forth in <u>Section 11.02(b)</u>.

"<u>Divestment</u>" has the meaning set forth in the Recitals to this Agreement.

"<u>Divestment Date</u>" means the date of the Divestment or if no Divestment has occurred, the date that Medtronic Parent ceases to control (as defined in the definition of "Affiliate" herein) SplitCo.

"<u>EMA</u>" means the Employee Matters Agreement dated as of the date of this Agreement by and between Medtronic and SplitCo.

"<u>Environmental Law</u>" means all Laws relating to pollution, protection, preservation or cleanup of the environment or natural resources, human health and safety, or the disposal, generation, handling, labeling, management, manufacture, registration, storage, transportation, treatment, use or Release of, or exposure to, Hazardous Substances.

"<u>Environmental Liability</u>" means any Liability (including fines, penalties, losses and costs) arising under or pursuant to Environmental Law or relating to Hazardous Substances, including those arising or resulting from (a) any violation of, or actual or alleged noncompliance with an Environmental Law, Environmental Permit or Environmental Order, (b) the Release of or exposure to Hazardous Substances, (c) the treatment, storage, disposal or arrangement for disposal of any Hazardous Substance and (d) any Remedial Action or Third-Party Claim under Environmental Law relating to the foregoing.

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"<u>Environmental Order</u>" shall mean any written order, demand, directive, consent order, binding agreement or promise of compliance issued or entered into by or with any Governmental Authority under or in relation to any Environmental Law or in relation to any Hazardous Substances.

"<u>Environmental Permit</u>" shall mean any Permit obtained or required under any Environmental Law.

"<u>Exchange</u>" means the Nasdaq Stock Market.

"<u>Exchange Act</u>" means the Securities Exchange Act of 1934, as amended, together with the rules and regulations promulgated thereunder.

"<u>Financial Statements</u>" has the meaning set forth in <u>Section 7.05(a)(iv)</u>.

"<u>First Post-Divestment Report</u>" has the meaning set forth in <u>Section 11.07</u>.

"<u>GAAP</u>" means United States generally accepted accounting principles as in effect from time to time, consistently applied.

"<u>Governmental Approvals</u>" means any notices, reports or other filings to be given to or made with, or any Consents to be obtained from, any Governmental Authority.

"<u>Governmental Authority</u>" means any federal, state, local, foreign or international court, government, department, commission, board, bureau, agency, official or other legislative, judicial, regulatory, administrative or governmental authority.

"<u>Greenshoe Amount</u>" has the meaning set forth in <u>Section 4.03(e)</u>.

"<u>Group</u>" means either the Medtronic Group or the SplitCo Group, as the context requires.

"<u>Hazardous Substances</u>" means any pollutant, contaminant, chemical, or any toxic, industrial, solid, radioactive or hazardous agent, material, substance or waste, including all agents, materials, substances or wastes for which liability or standards of care or a requirement for investigation or remediation are imposed under, or that are otherwise subject to, Environmental Law, and including petroleum and petroleum products and derivatives, radioactive materials or wastes, asbestos, polychlorinated biphenyls and per-polyfluoroalkyl and poly-fluorinated substances.

"<u>Indemnifying Party</u>" has the meaning set forth in <u>Section 6.04</u>.

"<u>Indemnitee</u>" has the meaning set forth in <u>Section 6.04</u>.

"<u>Indemnity Payment</u>" has the meaning set forth in <u>Section 6.04</u>.

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"<u>Information</u>" means information, whether or not patentable, copyrightable or protectable as a trade secret, in written, oral, electronic or other tangible or intangible forms, stored in any medium now known or yet to be created, including studies, reports, records, books, Contracts, instruments, surveys, analyses, discoveries, ideas, concepts, know-how, techniques, designs, specifications, drawings, blueprints, diagrams, models, prototypes, samples, flow charts, data, computer data, disks, diskettes, tapes, computer programs or other Software, marketing plans, customer names, communications, memos and other materials (including, for the avoidance of doubt, any of the foregoing that are subject to or may be subject to attorney-client privilege, attorney work product doctrine, common-interest or joint-defense protections, or any other legal privilege or protection, whether or not an attorney is a sender, recipient or participant in the communication or material, which in each case, shall be subject to <u>Section 7.08</u>) and other technical, financial, employee or business information or data, documents, correspondence, materials and files, in each case excluding any Intellectual Property therein.

"<u>Initial Public Offering</u>" means the initial public offering of the SplitCo Common Stock.

"<u>Initial SplitCo Party</u>" has the meaning set forth in the Preamble to this Agreement.

"<u>Insurance Proceeds</u>" means those monies:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;received by an insured (or its successor-in-interest) from an Insurer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;paid by an Insurer on behalf of an insured (or its successor-in-interest); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;received (including by way of setoff) from any third party in the nature of insurance, contribution or indemnification in respect of any Liability;

in any such case net of any applicable premium adjustments paid by any member of the Medtronic Group or the SplitCo Group (including retroactive or retrospectively rated premium adjustments), net of any costs or expenses incurred in the collection thereof and net of any Taxes resulting from the receipt thereof; <u>provided</u>, <u>however</u>, that to the extent any such monies are reimbursed (through retentions, deductibles or otherwise) to the applicable Insurer or other third party by any member of the Medtronic Group or the SplitCo Group (or their captive insurance companies), such monies shall not constitute Insurance Proceeds.

"<u>Insurer</u>" means the insuring entity issuing and/or subscribing to one or more Medtronic Insurance Policies, including, a member of the Medtronic Group, if applicable.

"<u>Intellectual Property</u>" means any and all common law or statutory rights anywhere in the world arising under or associated with the following, whether registered or unregistered: (a) patents, patent applications, statutory invention registrations, registered designs, utility models, and similar or equivalent rights in inventions and designs and all reissues, reexaminations, divisionals, continuations, and extensions of, and counterparts thereof, with

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respect to any of the foregoing ("<u>Patent</u>s"), (b) trademarks, service marks, trade dress, trade names, logos and other designations of origin, and the goodwill associated therewith ("<u>Trademarks</u>"), (c) rights in domain names and uniform resource locators, social media identifiers and accounts, and other names and locators associated with Internet addresses and sites ("<u>Domain Name</u>"), (d) copyrights and any other equivalent rights in works of authorship (including databases as works of authorship) ("<u>Copyrights</u>"), (e) Trade Secrets, (f) rights in Software, and (g) other similar or equivalent intellectual property rights.

"<u>Intended Tax Treatment</u>" has the meaning set forth in the TMA.

"<u>Intercompany Accounts</u>" has the meaning set forth in <u>Section 2.03(a)</u>.

"<u>Intercompany Agreements</u>" has the meaning set forth in <u>Section 2.03(a)</u>.

"<u>Internal Controlled</u>" has the meaning set forth in the Recitals to this Agreement.

"<u>Internal Distributing</u>" has the meaning set forth in the Recitals to this Agreement.

"<u>Internal Separation Closing</u>" means the consummation of the Second Internal Contribution.

"<u>Internal Separation Date</u>" means the date on which the Internal Separation Closing occurs.

"<u>Internal Transactions</u>" means the transactions described on slides 16 through 229 of the Step Plan.

"<u>IP Agreements</u>" means the (a) MGH-MM Intellectual Property Cross License Agreement between Medtronic and Medtronic MiniMed, Inc. and (b) the MPLC-MHSS Intellectual Property Cross License Agreement between Medtronic Parent and MiniMed Holdings Switzerland Sarl.

"<u>IP Documentation</u>" means all Intellectual Property prosecution files, registration certificates, litigation files, and related opinions of counsel and correspondence relating thereto.

"<u>IPO Registration Statement</u>" means the registration statement on Form S-1 filed under the Securities Act (No. 333-292284) pursuant to which the offering of SplitCo Common Stock to be sold by SplitCo in the Initial Public Offering will be registered, as amended from time to time.

"<u>Law</u>" means any statute, law, regulation, ordinance, rule, judgment, rule of common law, order, decree, directive, Tax treaty, requirement or other governmental restriction or any similar binding and enforceable form of decision of, or determination by, or agreement with, or any interpretation or administration of any of the foregoing by, any Governmental Authority, whether now or hereinafter in effect and, in each case, as amended.

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"<u>Liabilities</u>" means any and all claims, debts, demands, actions, causes of action, suits, damages, obligations, accruals, accounts payable, deferred revenue or other liability, reckonings, bonds, indemnities and similar obligations, agreements, promises, guarantees, make-whole agreements and similar obligations, and other liabilities and requirements, including all contractual obligations, whether absolute or contingent, matured or unmatured, liquidated or unliquidated, accrued or unaccrued, known or unknown, whenever arising, and including those arising under any Law, Action, threatened or contemplated Action or any award of any arbitrator or mediator of any kind, and those arising under any Contract, commitment or undertaking, including those arising under this Agreement, in each case, whether or not recorded or reflected or required to be recorded or reflected on the books and records or financial statements of any Person. For the avoidance of doubt, Liabilities shall include attorneys' and consultants' fees, the costs and expenses of all assessments, judgments, settlements and compromises, and any and all other costs and expenses whatsoever reasonably incurred in connection with anything contemplated by the preceding sentence (including costs and expenses incurred in investigating, preparing for or defending against any Actions or threatened or contemplated Actions).

"<u>Material Unsettled Intercompany Accounts</u>" has the meaning set forth in <u>Section</u> <u>2.03(b)</u>.

"<u>Maximum Greenshoe Amount</u>" has the meaning set forth in <u>Section 4.03(b)</u>.

"<u>Mediation Notice</u>" has the meaning set forth in <u>Section 11.02(c)</u>.

"<u>Mediation Period</u>" has the meaning set forth in <u>Section 11.02(c)</u>.

"<u>Mediation Process</u>" has the meaning set forth in <u>Section 11.02(c)</u>.

"<u>Medtronic</u>" has the meaning set forth in the preamble.

"<u>Medtronic, Inc. Contribution</u>" has the meaning set forth in the Recitals to this Agreement.

"<u>Medtronic Actions</u>" has the meaning set forth in <u>Section 6.12(b)</u>.

"<u>Medtronic Assets</u>" means the following Assets:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all Assets held by the Medtronic Group (other than Intellectual Property);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all Medtronic Intellectual Property and any IP Documentation related thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;all interests in the capital stock of, or other equity interests in, the members of the Medtronic Group (other than Medtronic) and all other equity, partnership, membership, joint venture and similar interests in any other Person (other than the members of the SplitCo Group and the SplitCo Group Entities);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Medtronic Retained Assets;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the rights related to the Medtronic Portion of any Shared Contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;all other Assets that are expressly provided by this Agreement or any Ancillary Agreement as Assets to be assigned to or retained by, or allocated to, any member of the Medtronic Group; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;to the extent not addressed in subsections <u>(a)</u>-<u>(f)</u> of this definition, all Assets held by a member of the SplitCo Group that are determined by Medtronic in good faith to be primarily related to or used or held for use primarily in connection with the business or operations of the Medtronic Business.

Notwithstanding the foregoing, except as set forth in <u>Section 2.02</u>, the Medtronic Assets as set forth in clauses <u>(b)</u>-<u>(g)</u> above shall not include (i) any Assets governed by the TMA, (ii) any Assets governed by the EMA, or (iii) any SplitCo Assets.

"<u>Medtronic Auditors</u>" has the meaning set forth in <u>Section 7.05(a)(xi)</u>.

"<u>Medtronic Business</u>" means the business and operations conducted (including business and operations not yet commercialized) by Medtronic and its Subsidiaries other than the SplitCo Business.

"<u>Medtronic Credit Support Instruments</u>" has the meaning set forth in <u>Section</u> <u>3.01(a)</u>.

"<u>Medtronic Disclosure Sections</u>" means all material set forth in, or incorporated by reference into, the IPO Registration Statement to the extent relating exclusively to (a) the Medtronic Group, (b) the Medtronic Business, (c) Medtronic's intentions with respect to any Divestment or Other Disposition or (d) the terms of the Divestment or Other Disposition, including the form, structure and terms of any transaction(s) or offering(s) to effect the Divestment or Other Disposition and the timing of and conditions to the consummation of the Divestment or Other Disposition.

"<u>Medtronic Environmental Liabilities</u>" means (a) the Specified Medtronic Environmental Liabilities and (b) all Environmental Liabilities to the extent relating to, arising out of or resulting from (i) the operation or conduct of the Medtronic Business (other than the SplitCo Business) as conducted at any time prior to, on or after the Separation Closing, (ii) any Medtronic Real Property; (iii) any product of the Medtronic Business or (iv) any terminated, divested or discontinued businesses or operations of the Medtronic Business (including any real property formerly owned, leased or operated by such businesses or operations); <u>provided</u>, that, notwithstanding the foregoing, Medtronic Environmental Liabilities shall not include any Specified SplitCo Environmental Liabilities.

"<u>Medtronic Group</u>" means Medtronic Parent and each of its Subsidiaries, but excluding any member of the SplitCo Group and the SplitCo Group Entities.

"<u>Medtronic Indemnitees</u>" has the meaning set forth in <u>Section 6.02</u>.

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"<u>Medtronic Insurance Policies</u>" means all insurance policies of Medtronic and the other members of the Medtronic Group, including (a) any policies issued, reinsured or reimbursed by any member of the Medtronic Group, including any wholly-owned captive insurance company, (b) any self-insurance programs, mechanisms or funding arrangements or similar program, mechanism or arrangement, including any deductibles, retentions or accruals for uninsured or self-insured risks or (c) any policies issued by a third-party insurer that is not a member of the Medtronic Group or the SplitCo Group.

"<u>Medtronic Intellectual Property</u>" means all Intellectual Property owned by any member of the Medtronic Group or the SplitCo Group as of immediately prior to the Separation Closing, other than the SplitCo Intellectual Property, including all rights to prosecute and perfect the foregoing through administrative prosecution, registration, recordation, or other proceeding, and all causes of action and rights to sue or seek other remedies arising from or relating to the foregoing, including for any past or ongoing infringement, misuse, or misappropriation.

"<u>Medtronic Liabilities</u>" means the following Liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all Liabilities to the extent relating to, arising out of or resulting from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the operation or conduct of the Medtronic Business as conducted at any time prior to the Separation Closing (including any Liability to the extent relating to, arising out of or resulting from any act or failure to act by any director, officer, employee, agent or representative (whether or not such act or failure to act is or was within such Person's authority), which act or failure to act relates to the Medtronic Business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the operation or conduct of the Medtronic Business or any other business conducted by Medtronic or any other member of the Medtronic Group at any time after the Separation Closing (including any Liability relating to, arising out of or resulting from any act or failure to act by any director, officer, employee, agent or representative (whether or not such act or failure to act is or was within such Person's authority));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;any terminated, divested or discontinued businesses or operations of the Medtronic Business; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the Medtronic Assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;the Medtronic Retained Liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;any obligations related to the Medtronic Portion of any Shared Contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Medtronic Environmental Liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;any D&O Indemnification Liabilities; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;all other Liabilities that are expressly provided by this Agreement or any Ancillary Agreement as Liabilities to be assumed or retained by, or allocated to, any member of the Medtronic Group.

Notwithstanding the foregoing, except as set forth in <u>Section 2.02</u>, the Medtronic Liabilities shall not include (w) any Liabilities governed by the TMA, (x) any Liabilities governed by the EMA or (y) any SplitCo Liabilities.

"<u>Medtronic Parent</u>" has the meaning set forth in the Recitals.

"<u>Medtronic Parent Ordinary Shares</u>" means the ordinary shares, $0.0001 par value per share, of Medtronic Parent.

"<u>Medtronic Policy Pre-Separation Insurance Claims</u>" means any Action, demand, claim (threatened or otherwise), notice of claim, incident, loss, event, condition or occurrence (whether existing before, on, or after the Separation Date) made against or reported directly to any member of the SplitCo Group or Medtronic Group (whether or not any formal proceeding is made by or before any Governmental Authority or any Federal, state, local, foreign or international arbitration or mediation tribunal), and reported to the applicable insurer(s) that arises from any event, act or omission occurring prior to the Separation Date and that is covered under a Medtronic Insurance Policy in effect prior to the Separation Date.

"<u>Medtronic Portion</u>" has the meaning set forth in <u>Section 2.04</u>.

"<u>Medtronic Real Property</u>" means any property or facility owned, operated or leased by Medtronic or any other member of the Medtronic Group.

"<u>Medtronic Retained Assets</u>" means the Assets to be retained by the Medtronic Group set forth on <u>Schedule I</u>.

"<u>Medtronic Retained Liabilities</u>" means the Liabilities set forth on <u>Schedule II</u>.

"<u>MiniMed BV Note</u>" that certain Promissory Note, dated as of the date hereof between MiniMed Holding B.V. and Internal Distributing with a face value of $900,000,000.

"<u>MiniMed BV Note Remainder Amount</u>" has the meaning set forth in <u>Section</u> <u>4.03(b)</u>.

"<u>Mixed Actions</u>" has the meaning set forth in <u>Section 6.12(c)</u>.

"<u>Negotiation Notice</u>" has the meaning set forth in <u>Section 11.02(b)</u>.

"<u>Net Economic Benefit Agreement</u>" means the Net Economic Benefit Agreement dated as of the date of this Agreement by and between Internal Distributing and Internal Controlled.

"<u>Other Disposition</u>" has the meaning set forth in the Recitals to this Agreement.

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"<u>Party</u>" means either party hereto, and "<u>Parties</u>" means both parties hereto.

"<u>Permit</u>" means any approval, concession, grant, franchise, license, permit, certificate, exemption, registration, waiver or other authorization granted or issued by any Governmental Authority, including those required to conduct a clinical investigation, study or trial on one or more human subjects under applicable Law.

"<u>Person</u>" means an individual, a general or limited partnership, a corporation, a trust, a joint venture, an unincorporated organization, a limited liability company, any other entity and any Governmental Authority.

"<u>Prospectus</u>" means the prospectus or prospectuses included in any of the Registration Statements, as amended or supplemented by any prospectus supplement and by all other amendments and supplements to any such prospectus, including post-effective amendments and all material incorporated by reference in such prospectus or prospectuses.

"<u>Real Property Remedial Action</u>" means any Remedial Action at any real property that is owned or leased by either Party on the Separation Date and at the time the Remedial Action is being conducted.

"<u>Registration Rights Agreement</u>" means the Registration Rights Agreement in substantially the form attached hereto as <u>Exhibit A</u>, to be entered into by and between Medtronic Parent and SplitCo.

"<u>Registration Statements</u>" means the IPO Registration Statement and any registration statement in connection with the Divestment or Other Disposition, including in each case the Prospectus related thereto, amendments and supplements to any such Registration Statement or Prospectus, including post-effective amendments, all exhibits thereto and all materials incorporated by reference in any such Registration Statement or Prospectus.

"<u>Release</u>" means any actual or threatened release, spill, emission, discharge, leaking, pumping, injection, dumping, deposit, disposal, dispersal, abandonment, leaching or migration into or through the environment (including ambient air, surface water, groundwater and surface or subsurface strata).

"<u>Remedial Action</u>" means all actions undertaken to clean up, remove, treat, respond to or otherwise address any presence or Release of a Hazardous Substance, prevent a Release or threat of Release, or minimize the further Release of any Hazardous Substance, including investigation, inspection, removal, cure, containment, monitoring, neutralization, treatment, clean-up or remediation activities, pre-remedial studies and investigations, and post-remedial monitoring and care.

"<u>Reporting Period</u>" has the meaning set forth in <u>Section 7.05(a)</u>.

"<u>Roll-Forward Amount</u>" has the meaning set forth in <u>Section 8.02(c)</u>.

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"<u>Second Internal Contribution</u>" means the contribution of all of the stock of Internal Controlled to the Initial SplitCo Party, in accordance with the Step Plan.

"<u>Securities Act</u>" means the Securities Act of 1933, as amended.

"<u>Security Interest</u>" means any mortgage, security interest, pledge, lien, charge, claim, option, right to acquire, voting or other restriction, right-of-way, covenant, condition, easement, encroachment, restriction on transfer or other encumbrance of any nature whatsoever.

"<u>Senior Negotiation</u>" has the meaning set forth in <u>Section 11.02(b)</u>.

"<u>Separation</u>" means (a) the Internal Transactions that are contemplated by the Step Plan to occur on or prior to the Separation Date, (b) any actions to be taken on or prior to the Separation Date pursuant to <u>Article II</u> and (c) any other transfers of Assets and assumptions of Liabilities, in each case, between a member of one Group and a member of the other Group, to occur on or prior to the Separation Date and provided for in this Agreement or in any Ancillary Agreement.

"<u>Separation Closing</u>" means the closing of the Separation and the Initial Public Offering on the Separation Date.

"<u>Separation Date</u>" has the meaning set forth in <u>Section 4.03(a)</u>.

"<u>Shared Contract</u>" means any Contract of any member of either Group that relates in any material respect to both the Medtronic Business and the SplitCo Business, including the Contracts set forth on <u>Schedule VIII-A</u>; provided, that no Contract (or portion thereof) shall constitute a Shared Contract to the extent that (x) such Contract is listed on Schedule VIII-B or (y) the services provided thereunder are provided pursuant to the TSA; <u>provided</u>, further, that the Parties may, by mutual written consent, elect to include in, or exclude from, this definition any Contract.

"<u>Software</u>" means any and all (a) computer programs and applications, including software implementation of algorithms, models and methodologies, whether in source code, object code, human readable form or other form, (b) databases and compilations, including any and all data and collections of data, whether machine readable or otherwise, (c) descriptions, flow charts and other work product used to design, plan, organize and develop any of the foregoing, (d) screens, user interfaces, report formats, firmware, development tools, templates, menus, buttons and icons and (e) all documentation, including user manuals and other training documentation relating to any of the foregoing; provided that in each case of (a)-(e), excluding any Intellectual Property therein.

"<u>Specified Medtronic Environmental Liabilities</u>" means the Environmental Liabilities set forth in <u>Schedule XV(i)</u>.

"<u>Specified SplitCo Environmental Liabilities</u>" means the Environmental Liabilities set forth in <u>Schedule XV(ii)</u>.

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"<u>SplitCo</u>" shall mean the Initial SplitCo Party (prior to the SplitCo Merger) or SplitCo Parent (after the SplitCo Merger).

"<u>SplitCo Actions</u>" has the meaning set forth in <u>Section 6.12(a)</u>.

"<u>SplitCo Assets</u>" means the following Assets:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all Assets held by the SplitCo Group (other than Intellectual Property);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all interests in the capital stock of, or other equity interests in, the members of the SplitCo Group (other than SplitCo) and all other equity, partnership, membership, joint venture and similar interests set forth on <u>Schedule III</u> under the captions "Joint Ventures" and "Minority Investments";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;all Assets (other than Intellectual Property) reflected on the SplitCo Business Balance Sheet, and all Assets (other than Intellectual Property) acquired after the date of the SplitCo Business Balance Sheet that, had they been acquired on or before such date and owned as of such date, would have been reflected on the SplitCo Business Balance Sheet if prepared in accordance with GAAP applied on a consistent basis, subject to any dispositions of such Assets subsequent to the date of the SplitCo Business Balance Sheet;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Assets listed or described on <u>Schedule IV</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;the SplitCo Intellectual Property and any IP Documentation related exclusively thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the rights related to the SplitCo Portion of any Shared Contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;all other Assets that are expressly provided by this Agreement or any Ancillary Agreement as Assets to be assigned to or retained by, or allocated to, any member of the SplitCo Group; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;to the extent not addressed in subsections <u>(a)</u>-<u>(g)</u> of this definition, all Assets (other than Intellectual Property or IP Documentation) held by a member of the Medtronic Group that are determined by Medtronic in good faith to be primarily related to or used or held for use primarily in connection with the business or operations of the SplitCo Business (unless otherwise expressly provided in this Agreement).

Notwithstanding the foregoing, except as set forth in <u>Section 2.02</u>, the SplitCo Assets shall not include (i) any Medtronic Retained Assets, (ii) any Medtronic Intellectual Property, (iii) any Assets governed by the TMA, (iv) any Assets governed by the EMA, (v) the rights related to the Medtronic Portion of Shared Contracts, (vi) any Assets that are determined by Medtronic in good faith to be primarily related to or used or held for use primarily in connection with the business or operations of the Medtronic Business (unless otherwise listed or described on <u>Schedule IV</u>), (vii) any equity, partnership, membership, joint venture or similar interests in any Person other than as contemplated by <u>clause (b)</u> of this definition or (viii) any insurance policies or programs of the Medtronic Group.

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"<u>SplitCo Auditors</u>" has the meaning set forth in <u>Section 7.05(a)(x)</u>.

"<u>SplitCo Business</u>" means the business and operations constituting Medtronic's Diabetes operating unit (as further described in the IPO Registration Statement), including the brands and product lines (i) sold by such segment as of or prior to the Separation Date or (ii) otherwise set forth on <u>Schedule V</u>. Notwithstanding the foregoing, the brands and product lines of all Medtronic operating units and businesses other than the Diabetes operating unit shall be deemed part of the Medtronic Business, and not part of the SplitCo Business.

"<u>SplitCo Business Balance Sheet</u>" means the combined balance sheet of the SplitCo Business, including the notes thereto, as of the most recent fiscal period for which financial statements are included in the IPO Registration Statement (or, as of such date that is otherwise agreed in writing by Medtronic and SplitCo).

"<u>SplitCo Common Stock</u>" means the common stock, $0.01 par value per share, of SplitCo Parent.

"<u>SplitCo Copyrights</u>" means unregistered Copyrights that are owned by any member of the Medtronic Group or the SplitCo Group as of immediately prior to the Separation Closing and that are exclusively used in or related to the SplitCo Business.

"<u>SplitCo Credit Support Instruments</u>" has the meaning set forth in <u>Section</u> <u>3.02(a)</u>.

"<u>SplitCo Domain Names</u>" means the Domain Names listed on <u>Schedule XVII</u>.

"<u>SplitCo Environmental Liabilities</u>" means (a) the Specified SplitCo Environmental Liabilities and (b) all Environmental Liabilities to the extent relating to, arising out of or resulting from (i) the operation or conduct of the SplitCo Business as conducted at any time prior to, on or after the Separation Closing, (ii) any SplitCo Real Property; (iii) any product of the SplitCo Business or (iv) any terminated, divested or discontinued businesses or operations of the SplitCo Business (including any real property formerly owned, leased or operated by such businesses or operations); <u>provided</u>, that, notwithstanding the foregoing, SplitCo Environmental Liabilities shall not include any Specified Medtronic Environmental Liabilities.

"<u>SplitCo Financing Arrangements</u>" means the debt financing arrangements to be entered into and consummated by members of the SplitCo Group at or prior to the Separation Closing.

"<u>SplitCo Group</u>" means (a) SplitCo Parent, (b) each Person that will be a Subsidiary of SplitCo Parent immediately after the Separation Closing, including the entities set forth on <u>Schedule III</u> under the caption "Subsidiaries", (c) SplitCo and (d) each Person that becomes a Subsidiary of SplitCo Parent after the Separation Date, including in each case any Person that is merged or consolidated with or into SplitCo Parent or any Subsidiary of SplitCo, including as part of the Internal Transactions.

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"<u>SplitCo Group Entities</u>" means the entities, the equity, partnership, membership, joint venture or similar interests of which are set forth on <u>Schedule III</u> under the captions "Joint Ventures" and "Minority Investments".

"<u>SplitCo IDs</u>" means the invention disclosures listed or described on <u>Schedule</u> <u>XVII</u>.

"<u>SplitCo Indemnitees</u>" has the meaning set forth in <u>Section 6.03</u>.

"<u>SplitCo Intellectual Property</u>" means (a) the SplitCo Patents, (b) the SplitCo Copyrights, (c) the SplitCo Domain Names, (d) the SplitCo Trade Secrets, (e) the SplitCo Trademarks, (f) the SplitCo IDs, (g) all other Intellectual Property (other than Patents) owned by any member of the Medtronic Group or the SplitCo Group as of immediately prior to the Separation Closing that are exclusively used in or related to the SplitCo Business (including such SplitCo Domain Names and SplitCo Trademarks listed on <u>Schedule XVII</u>, respectively), and (h) including in each case of the foregoing (a)-(g), all rights to prosecute and perfect the foregoing through administrative prosecution, registration, recordation, or other proceeding, and all causes of action and rights to sue or seek other remedies arising from or relating to the foregoing, including for any past or ongoing infringement, misuse, or misappropriation.

"<u>SplitCo Liabilities</u>" means the following Liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all Liabilities of the SplitCo Group and the SplitCo Group Entities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all Liabilities to the extent relating to, arising out of or resulting from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the operation or conduct of the SplitCo Business as conducted at any time prior to the Separation Closing (including any Liability to the extent relating to, arising out of or resulting from any act or failure to act by any director, officer, employee, agent or representative (whether or not such act or failure to act is or was within such Person's authority), which act or failure to act relates to the SplitCo Business);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the operation or conduct of the SplitCo Business or any other business conducted by SplitCo or any other member of the SplitCo Group at any time after the Separation Closing (including any Liability relating to, arising out of or resulting from any act or failure to act by any director, officer, employee, agent or representative (whether or not such act or failure to act is or was within such Person's authority));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;any terminated, divested or discontinued businesses or operations of the SplitCo Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the SplitCo Assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;all Liabilities reflected as liabilities or obligations on the SplitCo Business Balance Sheet, and all Liabilities arising or assumed after the date of the SplitCo Business Balance Sheet that, had they arisen or been assumed on or before such date and been existing obligations as of such date, would have been reflected on the SplitCo Business Balance Sheet if

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prepared in accordance with GAAP applied on a consistent basis, subject to any discharge of such Liabilities subsequent to the date of the SplitCo Business Balance Sheet;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the Liabilities listed or described on <u>Schedule VII</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;any obligations related to the SplitCo Portion of any Shared Contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;the SplitCo Environmental Liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;all other Liabilities that are expressly provided by this Agreement or any Ancillary Agreement as Liabilities to be assumed or retained by, or allocated to, any member of the SplitCo Group; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;all Liabilities to the extent relating to, arising out of or resulting from any untrue statement or alleged untrue statement of a material fact or omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading, with respect to all information contained in, or incorporated by reference into, the IPO Registration Statement and any other documents filed with the Commission in connection with the Initial Public Offering or as contemplated by this Agreement, other than with respect to the Medtronic Disclosure Sections.

Notwithstanding the foregoing, except as set forth in <u>Section 2.02</u>, the SplitCo Liabilities shall not include (i) any Medtronic Retained Liabilities, (ii) any Liabilities governed by the TMA, (iii) any Liabilities governed by the EMA, (iv) any obligations related to the Medtronic Portion of any Shared Contract, (v) any Medtronic Environmental Liabilities, (vi) any D&O Indemnification Liabilities and (vii) any Liabilities of the SplitCo Group to the extent relating to, arising out of or resulting from (x) the operation or conduct of the Medtronic Business as conducted at any time prior to the Separation Closing (unless otherwise expressly provided in this Agreement), (y) any terminated, divested or discontinued businesses or operations of the Medtronic Business or (z) the Medtronic Assets.

"<u>SplitCo Merger</u>" has the meaning set forth in the Preamble to this Agreement.

"<u>SplitCo Non-Voting Stock</u>" means any class or series of SplitCo's capital stock, and any warrant, option or right in such stock, other than SplitCo Voting Stock.

"<u>SplitCo Parent</u>" has the meaning set forth in the Preamble to this Agreement.

"<u>SplitCo Patents</u>" means the Patents listed on Exhibit B to each of the IP Agreements.

"<u>SplitCo Policy Pre-Separation Insurance Claims</u>" means any Action (whether made before, on, or after the Separation Date) made against any member of the SplitCo Group or Medtronic Group, and reported to the applicable insurer(s) that arises from any event, act or omission occurring prior to the Separation Date and that is covered under an insurance policy of the SplitCo Group in effect prior to the Separation Date.

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"<u>SplitCo Portion</u>" has the meaning set forth in <u>Section 2.04</u>.

"<u>SplitCo Real Property</u>" means any property or facility owned, leased or operated by SplitCo or any other member of the SplitCo Group.

"<u>SplitCo Trade Secrets</u>" means the Trade Secrets that are owned by any member of the Medtronic Group or SplitCo Group as of immediately prior to the Separation Closing and that are exclusively used in or related to the SplitCo Business.

"<u>SplitCo Trademarks</u>" means the Trademarks identified on <u>Schedule XVII</u>.

"<u>SplitCo Voting Stock</u>" means all classes of the then outstanding capital stock of SplitCo entitled to vote generally with respect to the election of directors.

"<u>Step Plan</u>" means the restructuring step plan attached as <u>Exhibit B</u>.

"<u>Subsidiary</u>" of any Person means any corporation or other organization, whether incorporated or unincorporated, of which at least a majority of the securities or interests having by the terms thereof ordinary voting power to elect at least a majority of the board of directors or others performing similar functions with respect to such corporation or other organization, is directly or indirectly owned or controlled by such Person or by any one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries.

"<u>Supply Agreement</u>" means the Transition Manufacturing and Supply Agreement dated as of the date of this Agreement by and between Internal Distributing and Medtronic MiniMed Inc.

"<u>Tax Certificates</u>" has the meaning set forth in the TMA.

"<u>Tax Contest</u>" has the meaning set forth in the TMA.

"<u>Tax Records</u>" has the meaning set forth in the TMA.

"<u>Tax Return</u>" has the meaning set forth in the TMA.

"<u>Taxes</u>" has the meaning set forth in the TMA.

"<u>Third-Party Claim</u>" means any assertion by a Person (including any Governmental Authority) who is not a member of the Medtronic Group or the SplitCo Group of any claim, or the commencement by any such Person of any Action, against any member of the Medtronic Group or the SplitCo Group.

"<u>Third-Party Proceeds</u>" has the meaning set forth in <u>Section 6.04</u>.

"<u>TMA</u>" means the Tax Matters Agreement dated as of the date of this Agreement by and between Medtronic and SplitCo.

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"<u>Trade Secrets</u>" means all (i) confidential or proprietary information and (ii) all other forms and types of financial, business, scientific, technical, economic or engineering information, including patterns, plans, compilations, program devices, formulas, designs, prototypes, methods, techniques, processes, procedures, know-how, programs or codes, whether tangible or intangible, and whether or how stored, compiled or memorialized physically, electronically, graphically, photographically or in writing, to the extent that the owner thereof has taken reasonable measures to keep such information secret and the information derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable through proper means by, the public.

"<u>Trademark Co-Existence Agreement</u>" means the Trademark Co-Existence Agreement dated as of the date of this Agreement by and between Medtronic and SplitCo.

"<u>Transaction Expenses</u>" means all reasonable out-of-pocket fees, costs and expenses incurred by any member of the Medtronic Group or the SplitCo Group in connection with the Separation, the Initial Public Offering or any of the other transactions contemplated by this Agreement or the Ancillary Agreements (other than the Divestment and the Other Disposition); <u>provided</u>, that Transaction Expenses shall not include (i) any Taxes covered by the TMA or (ii) any amounts required to be paid between a member of the Medtronic Group, on the one hand, and a member of the SplitCo Group, on the other hand, pursuant to the terms of an Ancillary Agreement.

"<u>Transitional Trademark Cross-License Agreement</u>" means the Transitional Trademark Cross-License Agreement dated as of the date of this Agreement by and between Medtronic and SplitCo.

"<u>Treasury Regulations</u>" has the meaning set forth in the TMA.

"<u>TSA</u>" means the Transition Services Agreement dated as of the date of this Agreement by and between Medtronic and SplitCo.

"<u>Underwriters</u>" means the managing underwriters for the Initial Public Offering.

"<u>Underwriting Agreement</u>" means the Underwriting Agreement to be entered into by and among SplitCo Parent and the Underwriters in connection with the offering of SplitCo Common Stock by SplitCo Parent in the Initial Public Offering.

"<u>Undisclosed Agency Agreement</u>" means the Undisclosed Agency Agreement dated as of the date of this Agreement by and between Internal Distributing and Internal Controlled.

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Article II

<u>The Separation</u>

SECTION 2.01. <u>Transfer of Assets and Assumption of Liabilities</u>. In accordance with the Step Plan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Prior to the Initial Public Offering, and subject to <u>Section 2.01(e)</u>, <u>Section</u> <u>2.01(f)</u> and <u>Section 2.07</u>, the Parties shall cause, or shall have caused, the Internal Transactions to be completed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to <u>Section 2.01(e)</u>, <u>Section 2.01(f)</u> and <u>Section 2.07</u>, on or prior to the Internal Separation Date, the Parties shall, and shall cause their respective Group members to, execute such Conveyancing and Assumption Instruments and take such other corporate actions as are necessary to (i) transfer and convey to one or more members of the SplitCo Group all of the right, title and interest of the Medtronic Group in, to and under all SplitCo Assets not already owned by the SplitCo Group, (ii) transfer and convey to one or more members of the Medtronic Group all of the right, title and interest of the SplitCo Group in, to and under all Medtronic Assets not already owned by the Medtronic Group, (iii) cause one or more members of the SplitCo Group to assume all of the SplitCo Liabilities to the extent such Liabilities would otherwise remain obligations of any member of the Medtronic Group and (iv) cause one or more members of the Medtronic Group to assume all of the Medtronic Liabilities to the extent such Liabilities would otherwise remain obligations of any member of the SplitCo Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event that it is discovered any time after the Internal Separation Date that there was an omission of (i) the transfer or conveyance by SplitCo (or a member of the SplitCo Group) or the acceptance or assumption by Medtronic (or a member of the Medtronic Group) of any Medtronic Asset or Medtronic Liability, as the case may be, or (ii) the transfer or conveyance by Medtronic (or a member of the Medtronic Group) or the acceptance or assumption by SplitCo (or a member of the SplitCo Group) of any SplitCo Asset or SplitCo Liability, as the case may be, the Parties shall, subject to <u>Section 2.01(e)</u>, <u>Section 2.01(f)</u> and <u>Section 2.07</u>, use reasonable best efforts to promptly effect such transfer, conveyance, acceptance or assumption of such Asset or Liability. The Party to whom the applicable Asset is to be transferred or conveyed or by whom the applicable Liability is to be accepted or assumed shall reimburse the other Party for any costs directly related to retaining or maintaining such Asset, or managing or defending such Liability, promptly after receiving a request therefor. Any transfer, conveyance, acceptance or assumption made pursuant to this <u>Section 2.01(c)</u> shall be treated by the Parties for all purposes as if it had occurred on the earlier of (i) immediately prior to the Separation Closing and (ii) the time such Assets and Liabilities would have been transferred, conveyed, accepted or assumed had they been subject to the Conveyancing and Assumption Instrument for the jurisdiction to which such Assets relate, in each case except as otherwise required by applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In the event that it is discovered any time after the Internal Separation Date that there was (i) a transfer or conveyance by SplitCo (or a member of the SplitCo Group) to, or the acceptance or assumption by, Medtronic (or a member of the Medtronic Group) of any

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SplitCo Asset or SplitCo Liability, as the case may be, or (ii) a transfer or conveyance by Medtronic (or a member of the Medtronic Group) to, or the acceptance or assumption by, SplitCo (or a member of the SplitCo Group) of any Medtronic Asset or Medtronic Liability, as the case may be, the Parties shall use reasonable best efforts to promptly transfer or convey such Asset or Liability back to the transferring or conveying Party or to rescind any acceptance or assumption of such Asset or Liability, as the case may be. The Party to whom the applicable Asset is to be transferred or conveyed or by whom the applicable Liability is to be accepted or assumed shall reimburse the other Party for any costs directly related to retaining or maintaining such Asset, or managing or defending such Liability, promptly after receiving a request therefor. Any transfer or conveyance made or acceptance or assumption rescinded pursuant to this <u>Section</u> <u>2.01(d)</u> shall be treated by the Parties for all purposes as if such Asset or Liability had never been originally transferred, conveyed, accepted or assumed, as the case may be, except as otherwise required by applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) To the extent that any transfer or conveyance of any Asset (other than (i) as set forth in <u>Section 2.07(d)</u>, (ii) Shared Contracts, which are governed solely by <u>Section 2.04</u>, and (iii) Deferred SplitCo Local Businesses, which are governed solely by <u>Section 2.07</u>) or acceptance or assumption of any Liability (other than (i) as set forth in <u>Section 2.07(d)</u>, (ii) Shared Contracts, which are governed solely by <u>Section 2.04</u>, and (iii) Deferred SplitCo Local Businesses, which are governed solely by <u>Section 2.07</u>) required by this Agreement to be so transferred, conveyed, accepted or assumed shall not have been completed on or prior to the Internal Separation Date, the Parties shall use reasonable best efforts to effect such transfer, conveyance, acceptance or assumption as promptly following the Internal Separation Date as shall be reasonably practicable. In the event that any such transfer, conveyance, acceptance or assumption (as applicable) has not been completed effective on or prior to the Internal Separation Date, unless otherwise expressly agreed in writing by the Parties, the Party retaining such Asset or Liability (or the member of the Party's Group retaining such Asset or Liability) shall thereafter hold such Asset for the use and benefit of the Party entitled thereto (at the expense of the Party entitled thereto, who shall reimburse the other Party for any costs directly related to retaining or maintaining such Asset or managing or defending such Liability promptly after receiving a request therefor) or retain such Liability for the account, and at the expense, of the Party by whom such Liability should have been assumed or accepted pursuant to this Agreement, as the case may be, and take such other actions as may be required by Law, including the terms and conditions of any applicable order, decree, ruling judgment, agreement or Action pending or in effect as of the Internal Separation Date with respect to such Asset or Liability, or otherwise reasonably requested by the Party to which such Asset should have been transferred or conveyed, or by whom such Liability should have been assumed or accepted, as the case may be, in order to place both Parties, insofar as reasonably possible, in the same position as would have existed had such Asset or Liability been transferred, conveyed, accepted or assumed (as applicable) as contemplated by this Agreement, including with respect to possession, use, risk of loss, potential for gain and control over such Asset or Liability. As and when any such Asset or Liability becomes transferable or assumable, the Parties shall use reasonable best efforts to promptly effect such transfer, conveyance, acceptance or assumption (as applicable). Any transfer, conveyance, acceptance or assumption made pursuant to this <u>Section 2.01(e)</u> shall be treated by the Parties for all purposes as if it had occurred on the earlier of (i) immediately prior to the

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Internal Separation Closing and (ii) the time such Assets and Liabilities would have been transferred, conveyed, accepted or assumed had they been subject to the Conveyancing and Assumption Instrument for the jurisdiction to which such Assets and Liabilities relate, in each case except as otherwise required by applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Nothing in this Agreement shall be deemed to require the transfer or conveyance of any Assets or the acceptance or assumption of any Liabilities which by their terms or operation of Law cannot be so transferred, conveyed, accepted or assumed; <u>provided</u>, <u>however</u>, that the Parties shall use reasonable best efforts to obtain and submit any necessary Governmental Approvals or other Consents for the transfer, conveyance, acceptance or assumption (as applicable) of all Assets and Liabilities required by this Agreement to be so transferred, conveyed, accepted or assumed including, to the extent applicable, the substitution of a member of the SplitCo Group for a member of the Medtronic Group in connection with any order, decree, ruling, judgment, agreement or Action pending or in effect as of the Internal Separation Date with respect to any SplitCo Liabilities or the substitution of a member of the Medtronic Group for a member of the SplitCo Group in connection with any order, decree, ruling, judgment, agreement or Action pending or in effect as of the Internal Separation Date with respect to any Medtronic Liabilities; <u>provided</u>, <u>further</u>, that neither Party nor any member of its Group shall be required to pay or grant any consideration or concession in any form (including providing any letter of credit, guaranty or other financial accommodation) to any Person in order to obtain or submit any such Governmental Approval or Consent (other than reasonable out-of-pocket expenses, attorneys' fees and filing, recording or similar fees, all of which, if incurred following the Separation Closing, shall be borne by SplitCo (and SplitCo shall promptly reimburse members of the Medtronic Group upon request for any such expenses or fees incurred thereby)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Except as set forth in <u>Section 2.01(f)</u> or <u>Section 2.07</u>, the Party retaining any Asset or Liability due to the deferral of the transfer and conveyance of such Asset or the deferral of the acceptance and assumption of such Liability pursuant to this <u>Article II</u> or otherwise shall not be obligated by this Agreement, in connection with this <u>Article II</u>, to expend any money or take any action that would require the expenditure of money unless and to the extent the Party entitled to such Asset or the Party intended to assume such Liability advances or agrees to reimburse it for the applicable expenditures.

SECTION 2.02. <u>Certain Matters Governed Exclusively by Ancillary Agreements</u>. Each of Medtronic and SplitCo agrees on behalf of itself and the members of its Group that, except as expressly provided in this Agreement or any Ancillary Agreement, (a) the TMA shall exclusively govern all matters relating to Taxes between such parties, (b) the EMA shall exclusively govern all matters related to employees and employee benefits between such parties (it being understood that any Assets and Liabilities allocated pursuant to the EMA shall constitute SplitCo Assets, SplitCo Liabilities, Medtronic Assets or Medtronic Liabilities, as applicable, for purposes of <u>Article VI</u> hereof), (c) the TSA shall exclusively govern all matters relating to the provision of certain services identified therein to be provided by each Party to the other on a transitional basis following the date thereof and (d) the Supply Agreement shall exclusively govern all matters relating to the supply of the services identified therein. In the case of any conflict between this

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Agreement and either the TMA or the EMA in relation to any matters related to Taxes, the TMA or the EMA, as applicable, shall prevail.

SECTION 2.03. <u>Termination of Intercompany Agreements and Intercompany Accounts</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as set forth in <u>Section 2.03(c)</u> or as otherwise provided by the Step Plan, in furtherance of the releases and other provisions of <u>Section 6.01</u>, effective as of the consummation of the Second Internal Contribution on the Internal Separation Date (in the case of Intercompany Agreements in effect as of such time) or as of the Separation on the Separation Date (in the case of Intercompany Agreements entered into after the Second Internal Contribution (if any)), SplitCo and each other member of the SplitCo Group, on the one hand, and Medtronic and each other member of the Medtronic Group, on the other hand, hereby terminate any and all agreements, arrangements, commitments and understandings, oral or written, between such parties as of such date ("<u>Intercompany Agreements</u>") including all intercompany accounts payable or accounts receivable between such parties ("<u>Intercompany</u> <u>Accounts</u>") and in effect or accrued as of such time. No such terminated Intercompany Agreement or Intercompany Account (including any provision thereof that purports to survive termination) shall be of any further force or effect after the Internal Separation Date or the Separation Date, as applicable. Each Party shall, at the reasonable request of the other Party, take, or cause to be taken, such other actions as may be necessary to effect the foregoing. The Parties, on behalf of the members of their respective Groups, hereby waive any advance notice provision or other termination requirements with respect to any Intercompany Agreement. For the avoidance of doubt, the termination of Intercompany Agreements pursuant to this <u>Section</u> <u>2.03(a)</u> shall be effective as of the Internal Separation Date or the Separation Date, as applicable, regardless of whether all amounts owing under such Intercompany Agreements have been settled as of such date. The settlement of amounts owing under terminated Intercompany Agreements shall be governed by <u>Section 2.03(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In connection with the termination of Intercompany Accounts described in <u>Section 2.03(a)</u>, each of Medtronic and SplitCo shall use its reasonable best efforts to cause each Intercompany Account between a member of the SplitCo Group, on the one hand, and a member of the Medtronic Group, on the other hand, that is outstanding as of the Internal Separation Closing or the Separation Closing, as applicable, to be settled at or as promptly as practicable following the Internal Separation Closing or the Separation Closing, as applicable, in accordance with the Step Plan. Within ninety (90) days following the Separation Closing, to the extent (i) there exist Intercompany Accounts that were not settled within ninety (90) days following the Separation Closing and (ii) such Intercompany Accounts have an aggregate outstanding balance in excess of $5 million (the "<u>Material Unsettled Intercompany Accounts</u>"), the Parties shall reconcile all such Intercompany Accounts. The Parties shall work together in good faith to determine the final amounts payable with respect to the Material Unsettled Intercompany Accounts, and any amounts so determined shall be paid by the applicable Party within fifteen (15) Business Days following such determination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The provisions of <u>Section 2.03(a)</u> and <u>Section 2.03(b)</u> shall not apply to any of the following Intercompany Agreements or Intercompany Accounts (or to any of the provisions

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thereof): (i) this Agreement and the Ancillary Agreements (and each other Intercompany Agreement or Intercompany Account expressly contemplated by this Agreement or any Ancillary Agreement to be entered into by either Party or any other member of its Group); (ii) any Intercompany Agreements that this Agreement, the Step Plan or any Ancillary Agreement expressly contemplates will survive the Separation Closing; (iii) any Intercompany Agreements or Intercompany Accounts between a Deferred SplitCo Local Business, on the one hand, and a member of the Medtronic Group, on the other hand, prior to the legal transfer of such Deferred SplitCo Local Business to the SplitCo Group and (iv) any other Intercompany Agreements or Intercompany Accounts set forth on <u>Schedule IX</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each of Medtronic and SplitCo shall, and shall cause their respective Subsidiaries to, take all necessary actions to remove each member of the SplitCo Group from all Cash Management Arrangements to which such member of the SplitCo Group is a party, in each case prior to the Separation Date; <u>provided</u>, that this <u>Section 2.03(d)</u> shall not require any members of the SplitCo Group that comprise a Deferred SplitCo Local Business to be removed from any such Cash Management Arrangements prior to the legal transfer of such Deferred SplitCo Local Business to the SplitCo Group.

SECTION 2.04. <u>Shared Contracts</u>. The Parties shall, and shall cause the members of their respective Groups to, use their respective reasonable best efforts to work together (and, if necessary and desirable, to work with the third party to such Shared Contract) in an effort to divide, partially assign, modify or replicate (in whole or in part) the respective rights and obligations under and in respect of any Shared Contract, such that (a) a member of the SplitCo Group is the beneficiary of the rights and is responsible for the obligations related to that portion of such Shared Contract relating to the SplitCo Business (the "<u>SplitCo Portion</u>"), which rights shall be a SplitCo Asset and which obligations shall be a SplitCo Liability, and (b) a member of the Medtronic Group is the beneficiary of the rights and is responsible for the obligations related to such Shared Contract not relating to the SplitCo Business (the "<u>Medtronic Portion</u>"), which rights shall be a Medtronic Asset and which obligations shall be a Medtronic Liability. If the Parties, or their respective Group members, as applicable, are not able to enter into an arrangement to formally divide, partially assign, modify or replicate such Shared Contract on or prior to the Separation Date as contemplated by the previous sentence, then the Parties shall, and shall cause their respective Group members to, reasonably cooperate in any lawful arrangement to provide that, following the Separation Closing and until the earlier of two (2) years after the Separation Date and such time as the formal division, partial assignment, modification or replication of such Shared Contract as contemplated by the previous sentence is effected, a member of the SplitCo Group shall receive the interest in the benefits and obligations of the SplitCo Portion under such Shared Contract and a member of the Medtronic Group shall receive the interest in the benefits and obligations of the Medtronic Portion under such Shared Contract; <u>provided</u>, that if, following such two-year period, any such Shared Contract remains in effect and the formal division, partial assignment, modification or replication of such Shared Contract as contemplated by the previous sentence has not yet been effected, the Parties shall discuss in good faith extending any such lawful arrangement then in place; provided that, for the avoidance of doubt, no Party shall have any obligation to so extend any such lawful arrangement then in place. Nothing in this <u>Section 2.04</u> shall require (x) the division, partial assignment, modification or

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replication of a Shared Contract unless and until any necessary Consents are obtained or made, as applicable, or (y) unless otherwise agreed by the Parties, either Party or any member of their respective Groups to pay or grant any consideration or concession in any form (including providing any letter of credit, guaranty or other financial accommodation) to any Person (other than reasonable out-of-pocket expenses, attorneys' fees and recording or similar fees, all of which, if incurred following the Separation Closing, shall be borne by SplitCo (and SplitCo shall promptly reimburse members of the Medtronic Group upon request for any such expenses or fees incurred thereby)).

SECTION 2.05. <u>Disclaimer of Representations and Warranties</u>. Each of Medtronic (on behalf of itself and each other member of the Medtronic Group) and SplitCo (on behalf of itself and each other member of the SplitCo Group) understands and agrees that, except as expressly set forth in this Agreement, any Ancillary Agreement or the Tax Certificates, no party to this Agreement, any Ancillary Agreement or any other agreement or document contemplated by this Agreement or any Ancillary Agreement, nor any other Person, is representing or warranting in any way as to any Assets or Liabilities transferred or assumed as contemplated hereby or thereby, as to the sufficiency of the Assets or Liabilities transferred or assumed hereby or thereby for the conduct and operations of the SplitCo Business or the Medtronic Business, as applicable, as to any Governmental Approvals or other Consents required in connection therewith or in connection with any past transfers of the Assets or assumptions of the Liabilities, as to the value or freedom from any Security Interests of, or any other matter concerning, any Assets or Liabilities of such party, or as to the absence of any defenses or rights of setoff or freedom from counterclaim with respect to any claim or other Asset, including any accounts receivable, of any such party, or as to the legal sufficiency of any assignment, document or instrument delivered hereunder to convey title to any Asset or thing of value upon the execution, delivery and filing hereof or thereof. Except as may expressly be set forth herein or in any Ancillary Agreement or the Tax Certificates, any such Assets are being transferred on an "as is," "where is" basis and the respective transferees shall bear the economic and legal risks that (a) any conveyance shall prove to be insufficient to vest in the transferee good and marketable title, free and clear of any Security Interest, and (b) any necessary Governmental Approvals or other Consents are not obtained or that any requirements of Laws or judgments are not complied with.

SECTION 2.06. <u>Conveyancing and Assumption Instruments</u>. In connection with, and in furtherance of, the transfers of Assets and the acceptance and assumptions of Liabilities contemplated by this Agreement, the Parties and certain other members of the respective Groups (a) have executed prior to the date hereof certain Conveyancing and Assumption Instruments and (b) shall execute and deliver to each other or cause to be executed and delivered, on or after the date hereof by the appropriate entities, any Conveyancing and Assumption Instruments, in each case necessary to evidence the valid and effective assumption by the applicable Party or a member of such Party's Group of its assumed Liabilities and the valid transfer to the applicable Party or member of such Party's Group of all right, title and interest in and to its transferred Assets for such assumptions and transfers to be effected pursuant to Delaware Law, the Laws of one of the other states of the United States or the Laws of the country in which such Assets are located, as applicable, including the transfer of real property with deeds as may be appropriate and in form and substance as may be required by the jurisdiction in which the real property is

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located. Except to the extent required by applicable Law, the Conveyancing and Assumption Instruments shall not contain any representations or warranties or indemnities, shall not conflict with this Agreement and, to the extent that any provision of a Conveyancing and Assumption Instrument does conflict with any provision of this Agreement, this Agreement shall govern and control unless specifically stated otherwise in such Conveyancing and Assumption Instrument. The transfer of capital stock may be effected by means of executed stock powers and notation on the stock record books of the corporation or other legal entities involved, or by such other means as may be required in any jurisdiction to transfer title to stock and, only to the extent required by applicable Law, by notation on public registries or other required procedure.

SECTION 2.07. <u>Deferred Markets</u>. (a) Notwithstanding anything to the contrary herein, in order to ensure compliance with applicable Law, to obtain necessary Governmental Approvals and other Consents and for other business reasons, the Parties will defer until after the Internal Separation Date the transfer and conveyance of legal title to all or a portion of the SplitCo Assets to, and the assumption of all or a portion of the SplitCo Liabilities by, SplitCo or a member of the SplitCo Group, in each case, in each of the jurisdictions listed on <u>Schedule XIV</u> (each, a "<u>Deferred Market</u>" and the SplitCo Assets and SplitCo Liabilities in any such Deferred Market, a "<u>Deferred SplitCo Local Business</u>"), and Medtronic or a member of the Medtronic Group will continue to operate certain activities of the SplitCo Business in the Deferred Markets following the Separation in accordance with <u>Section 2.07(b)</u>. Notwithstanding the foregoing, any Deferred SplitCo Local Business shall constitute SplitCo Assets or SplitCo Liabilities, as applicable, for all other purposes of this Agreement. The transfer of each Deferred SplitCo Local Business shall occur in accordance with the terms and conditions set forth in the Net Economic Benefit Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) With respect to any Deferred SplitCo Local Business between the Internal Separation Date and such time as the Deferred SplitCo Local Business has been transferred to SplitCo (the "<u>Deferred Separation Date</u>"), and subject to the Net Economic Benefit Agreement: (i) Medtronic shall, and shall cause each member of the Medtronic Group to, use reasonable best efforts to (A) provide SplitCo with the economic and operational claims, rights, benefits and burdens that would accrue to it if such Deferred SplitCo Local Businesses were conveyed and transferred to (or assumed by) it as of the Internal Separation Date, including the net profits or losses associated with the ownership of such Deferred SplitCo Local Business (it being understood, that such net profits or losses shall be net of all Taxes incurred by Medtronic or a member of the Medtronic Group, the Deferred SplitCo Local Business or their respective affiliates in connection with the operation (or ownership) of the relevant Deferred SplitCo Local Business between the Internal Separation Date and the applicable Deferred Separation Date), and Medtronic and SplitCo shall use reasonable best efforts after the date hereof to enter into an arrangement to document the foregoing and (B) reasonably cooperate with SplitCo, at SplitCo's expense, to enforce any rights of the Deferred SplitCo Local Business that are available against any third party; (ii) Medtronic and, if applicable, such Deferred SplitCo Local Business shall hold in trust for and pay to the SplitCo or a member of the SplitCo Group promptly upon receipt thereof, any income, proceeds and other monies received in respect of the Deferred SplitCo Local Business, net of any Liabilities and Taxes with respect thereto; (iii) SplitCo shall (I) pay, perform and discharge (whether as agent or subcontractor or otherwise) fully when due all

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obligations, burdens, and Liabilities, including Taxes of the Deferred SplitCo Local Business and indemnify the Medtronic Group in respect of the foregoing and (II) provide such Deferred SplitCo Local Business, Medtronic and any member of the Medtronic Group, as applicable, such maintenance, support or other services, products or payments as may be required in furtherance of the provisions of this <u>Section 2.07(b)</u>; and (iv) the Parties acknowledge and agree that Medtronic Group shall perform the aforementioned operation and management of the Deferred SplitCo Local Business solely in its capacity as service provider to, and as third party agent acting on behalf, at the direction and for the benefit of, the SplitCo Group, and that the SplitCo Group will bear the profit and/or loss associated with ownership of the Deferred SplitCo Local Business from and after the Internal Separation Date in the manner described in this Agreement and the transactions contemplated hereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) With respect to the SplitCo Assets and SplitCo Liabilities described in <u>Section</u> <u>2.07(a)</u> and any Deferred SplitCo Local Business, each of Medtronic and SplitCo shall, and shall cause the members of its respective Group to (i) treat for all purposes, including U.S. federal (and applicable U.S. state and local) income Tax purposes (A) the SplitCo Assets as assets having been transferred to and owned by the SplitCo Group not later than the Internal Separation Closing, (B) the SplitCo Liabilities as Liabilities having been assumed and owed by the SplitCo Group not later than the Internal Separation Closing, and (C) the Deferred SplitCo Local Business having been transferred to the SplitCo Group not later than the Internal Separation Closing, in each case except as otherwise required by applicable Law or as otherwise expressly provided in the Net Economic Benefit Agreement and any applicable Conveyancing and Assumption Instrument; and (ii) neither report nor take any Tax position (on a Tax Return or otherwise) inconsistent with such treatment (unless required by a change in applicable Law or good faith resolution of a Tax Contest).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding anything to the contrary in this Agreement, certain Assets and Contracts that are subject to Undisclosed Agency Agreements shall not transfer at or prior to the Separation Closing but shall instead transfer on a delayed basis following the Separation Closing. The identification of such Assets and Contracts, and the timing, terms, and conditions governing such delayed transfers, shall be as set forth in the applicable Undisclosed Agency Agreement.

SECTION 2.08. <u>Waiver of Bulk Sales</u>. SplitCo hereby waives compliance by each and every member of the Medtronic Group with the requirements and provisions of any "bulk-sale" or "bulk-transfer" Laws of any jurisdiction that may otherwise be applicable with respect to the transfer or sale of any or all of the SplitCo Assets to any member of the SplitCo Group. Medtronic hereby waives compliance by each and every member of the SplitCo Group with the requirements and provisions of any "bulk-sale" or "bulk-transfer" Laws of any jurisdiction that may otherwise be applicable with respect to the transfer or sale of any or all of the Medtronic Assets to any member of the Medtronic Group.

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Article III

<u>Credit Support</u>

SECTION 3.01. <u>Replacement of Medtronic Credit Support</u>. (a) Other than as set forth on <u>Schedule XVIII-A</u>, SplitCo shall use reasonable best efforts to arrange, at its sole cost and expense and effective on or prior to the Separation Date, the termination or replacement of all guarantees, covenants, indemnities, surety bonds, letters of credit or similar assurances or credit support ("<u>Credit Support Instruments</u>") provided by or through Medtronic or any other member of the Medtronic Group for the benefit of SplitCo or any other member of the SplitCo Group ("<u>Medtronic Credit Support Instruments</u>") with alternate arrangements that do not require any credit support from Medtronic or any other member of the Medtronic Group, and shall use reasonable best efforts to obtain from the beneficiaries of such Medtronic Credit Support Instruments written releases (which (i) in the case of a letter of credit or bank guarantee would be effective upon surrender of the original Medtronic Credit Support Instrument to the originating bank and such bank's confirmation to Medtronic of cancelation thereof and (ii) shall expressly release any collateral in respect of such Medtronic Credit Support Instrument) indicating that Medtronic or such other member of the Medtronic Group will, effective upon the Separation Closing, have no liability with respect to such Medtronic Credit Support Instruments, in each case reasonably satisfactory to Medtronic.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In furtherance of <u>Section 3.01(a)</u>, to the extent required to obtain a removal or release from a Medtronic Credit Support Instrument, SplitCo or an appropriate member of the SplitCo Group shall execute an agreement substantially in the form of the existing Medtronic Credit Support Instrument or such other form as is agreed to by the relevant parties to such agreement, except to the extent that such existing Medtronic Credit Support Instrument contains representations, covenants or other terms or provisions (i) with which SplitCo or the appropriate member of the SplitCo Group would be reasonably unable to comply or (ii) which would be reasonably expected to be breached by SplitCo or the appropriate member of the SplitCo Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If SplitCo is unable to obtain, or is not required to obtain, or to cause to be obtained, all releases from Medtronic Credit Support Instruments pursuant to <u>Section 3.01(a)</u> and <u>Section 3.01(b)</u> on or prior to the Separation Date, (i) without limiting SplitCo's obligations under <u>Article VI</u>, SplitCo shall, and shall cause the relevant member of the SplitCo Group that has assumed the Liability with respect to such Medtronic Credit Support Instrument, to indemnify and hold harmless the guarantor or obligor for any Liability arising from or relating thereto in accordance with the provisions of <u>Article VI</u> and to, as agent or subcontractor for such guarantor or obligor, pay, perform and discharge fully all the obligations or other Liabilities of such guarantor or obligor thereunder, (ii) with respect to each such Medtronic Credit Support Instrument, SplitCo, on behalf of itself and the other members of the SplitCo Group, agrees, except as otherwise expressly required by the terms of a Contract with a third party in effect as of the Separation Date, not to renew or extend the term of, increase its obligations under or transfer to a third Person any loan, guarantee, lease, sublease, license, Contract or other obligation for which Medtronic or any other member of the Medtronic Group is or may be liable under such Medtronic Credit Support Instrument unless all obligations of Medtronic and the other members

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of the Medtronic Group with respect thereto are thereupon terminated by documentation reasonably satisfactory in form and substance to Medtronic, and (iii) with respect to each such Medtronic Credit Support Instrument, SplitCo shall prepare and provide, or cause to be prepared and provided, as promptly as reasonably practicable following reasonable written request by Medtronic, to the extent reasonably necessary for Medtronic to prepare financial statements or complete an audit or review of financial statements or an audit of internal control over financial reporting, any relevant information or data regarding the Liability with respect to such Medtronic Credit Support Instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) On and after the Separation Date, SplitCo shall, and shall cause each member of the SplitCo Group to, comply with the obligations set forth on <u>Schedule XVIII-B</u> with respect to the Medtronic Credit Support Instruments and related Contracts set forth therein.

SECTION 3.02. <u>Replacement of SplitCo Credit Support</u>. (a) Medtronic shall use reasonable best efforts to arrange, at its sole cost and expense and effective on or prior to the Separation Date, the termination or replacement of all Credit Support Instruments provided by or through SplitCo or any other member of the SplitCo Group for the benefit of Medtronic or any other member of the Medtronic Group ("<u>SplitCo Credit Support Instruments</u>") with alternate arrangements that do not require any credit support from SplitCo or any other member of the SplitCo Group, and shall use reasonable best efforts to obtain from the beneficiaries of such SplitCo Credit Support Instruments written releases (which (i) in the case of a letter of credit or bank guarantee would be effective upon surrender of the original SplitCo Credit Support Instrument to the originating bank and such bank's confirmation to SplitCo of cancelation thereof and (ii) shall expressly release any collateral in respect of such Credit Support Instrument) indicating that SplitCo or such other member of the SplitCo Group will, effective upon the Separation Closing, have no liability with respect to such SplitCo Credit Support Instruments, in each case reasonably satisfactory to SplitCo.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In furtherance of (a), to the extent required to obtain a removal or release from a SplitCo Credit Support Instrument, Medtronic or an appropriate member of the Medtronic Group shall execute an agreement substantially in the form of the existing SplitCo Credit Support Instrument or such other form as is agreed to by the relevant parties to such agreement, except to the extent that such existing SplitCo Credit Support Instrument contains representations, covenants or other terms or provisions (i) with which Medtronic or the appropriate member of the Medtronic Group would be reasonably unable to comply or (ii) which would be reasonably expected to be breached by Medtronic or the appropriate member of the Medtronic Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If Medtronic is unable to obtain, or to cause to be obtained, all releases from SplitCo Credit Support Instruments pursuant to <u>Section 3.02(a)</u> and <u>Section 3.02(b)</u> on or prior to the Separation Date, (i) without limiting Medtronic's obligations under <u>Article VI</u>, Medtronic shall, and shall cause the relevant member of the Medtronic Group that has assumed the Liability with respect to such SplitCo Credit Support Instrument to, indemnify and hold harmless the guarantor or obligor for any Liability arising from or relating thereto in accordance with the provisions of <u>Article VI</u> and to, as agent or subcontractor for such guarantor or obligor, pay,

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perform and discharge fully all the obligations or other Liabilities of such guarantor or obligor thereunder, (ii) with respect to each such SplitCo Credit Support Instrument, Medtronic, on behalf of itself and the other members of the Medtronic Group, agrees, except as otherwise expressly required by the terms of a Contract with a third party in effect as of the Separation Date, not to renew or extend the term of, increase its obligations under or transfer to a third Person, any loan, guarantee, sublease, license, Contract or other obligation for which SplitCo or any other member of the SplitCo Group is or may be liable under such SplitCo Credit Support Instrument unless all obligations of SplitCo and the other members of the SplitCo Group with respect thereto are thereupon terminated by documentation reasonably satisfactory in form and substance to SplitCo and (iii) with respect to each such SplitCo Credit Support Instrument, Medtronic shall prepare and provide, or cause to be prepared and provided, as promptly as reasonably practicable following reasonable written request by SplitCo, to the extent reasonably necessary for SplitCo to prepare financial statements or complete an audit or review of financial statements or an audit of internal control over financial reporting, any relevant information or data regarding the Liability with respect to such SplitCo Credit Support Instrument.

SECTION 3.03. <u>Written Notice of Credit Support Instruments</u>. Medtronic and SplitCo shall use reasonable best efforts to provide each other with written notice of the existence of all Credit Support Instruments within a reasonable period prior to the Separation.

Article IV

<u>Actions Pending the Separation</u>

SECTION 4.01. <u>Actions Prior to the Separation</u>. Subject to the conditions specified in <u>Section</u> <u>4.02</u> and subject to <u>Section 4.04</u>, Medtronic and SplitCo shall use reasonable best efforts to consummate the Separation and Initial Public Offering. Such efforts shall include taking the actions specified in this <u>Section 4.01</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) SplitCo shall prepare, file with the Commission and use its reasonable best efforts to cause to become effective the IPO Registration Statement and any registration statements or amendments thereto required to effect the establishment of, or amendments to, any employee benefit and other plans necessary or appropriate in connection with the transactions contemplated by this Agreement or any of the Ancillary Agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Medtronic and SplitCo shall take all such action as may be necessary or appropriate under the securities or blue sky laws of the states or other political subdivisions of the United States or of other foreign jurisdictions in connection with the Initial Public Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) SplitCo shall prepare and file, and shall use reasonable best efforts to have approved prior to the completion of the Initial Public Offering, an application for the listing of the SplitCo Common Stock to be offered and sold in the Initial Public Offering on the Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Prior to the Separation Closing, Medtronic shall have duly elected the individuals listed as director nominees to the SplitCo board of directors in the IPO Registration

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Statement, and such individuals shall be the members of the SplitCo board of directors effective as of immediately prior to the Separation Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Prior to the Separation Closing, Medtronic shall have duly appointed the individuals listed as executive officers of SplitCo in the IPO Registration Statement, and such individuals shall be the executive officers of SplitCo as of immediately prior to the Separation Closing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Immediately prior to the Separation Closing, the Amended and Restated Certificate of Incorporation and the Amended and Restated By-laws of SplitCo, each in substantially the form filed as an exhibit to the IPO Registration Statement, shall be in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) SplitCo shall enter into the Underwriting Agreement, in form and substance reasonably satisfactory to Medtronic, and shall comply with its obligations thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) SplitCo shall participate in the preparation of materials and presentations as any of Medtronic and the Underwriters shall deem reasonably desirable in connection with the Initial Public Offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Medtronic and SplitCo shall, subject to <u>Section 4.04</u>, take all reasonable steps necessary and appropriate to cause the conditions set forth in <u>Section 4.02</u> to be satisfied and to effect the Separation (to the extent not already consummated) and the Initial Public Offering on the Separation Date.

SECTION 4.02. <u>Conditions Precedent to Consummation of the Separation</u>. The obligations of the Parties to consummate the Separation (other than the Internal Transactions that are contemplated by the Step Plan to occur prior to the Separation Date) and the Initial Public Offering shall be conditioned on the satisfaction, or waiver by Medtronic, of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the board of directors of Medtronic Parent shall have authorized and approved the Separation and the Initial Public Offering and not withdrawn such authorization and approval;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) each Ancillary Agreement (other than any Conveyancing and Assumption Instruments to be executed at or following the Separation Closing, including with respect to the Deferred Markets) shall have been executed by each party to such agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Commission shall have declared effective the IPO Registration Statement, no stop order suspending the effectiveness of the IPO Registration Statement shall be in effect and no proceedings for that purpose shall be pending before or threatened by the Commission;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the SplitCo Common Stock shall have been accepted for listing on the Exchange or another national securities exchange approved by Medtronic Parent, subject to official notice of issuance;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Internal Transactions that are contemplated by the Step Plan to occur on or prior to the Separation Date shall have been completed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Medtronic Parent shall be satisfied in its sole discretion that it will, directly or indirectly, own at least 80.1% of the outstanding SplitCo Common Stock (and that it will have "control" of SplitCo within the meaning of Section 368(c) of the Code) following the Initial Public Offering, and Medtronic shall be satisfied in its sole discretion that all other conditions to permit the Divestment to qualify for the Intended Tax Treatment shall, to the extent applicable as of the time of the Initial Public Offering, be satisfied, and there shall be no event or condition that is likely to cause any of such conditions not to be satisfied as of the time of the Divestment or thereafter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) no order, injunction or decree issued by any Governmental Authority of competent jurisdiction or other legal restraint or prohibition preventing the consummation of the Separation or the Initial Public Offering shall be in effect, and no other event shall have occurred or failed to occur that prevents the consummation of the Separation or the Initial Public Offering;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) no other events or developments shall have occurred prior to the Separation and the Initial Public Offering that, in the judgment of the board of directors of Medtronic, would result in the Separation or the Initial Public Offering having a material adverse effect on Medtronic or the shareholders of Medtronic;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) SplitCo shall have entered into the Underwriting Agreement and all conditions to the obligations of SplitCo and the Underwriters thereunder shall have been satisfied or waived by the party that is entitled to the benefit thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) the actions set forth in Sections <u>4.01(d)</u>, <u>(e)</u> and <u>(f)</u> shall have been completed.

The foregoing conditions are for the sole benefit of Medtronic and shall not give rise to or create any duty on the part of Medtronic or the Medtronic board of directors to waive or not waive such conditions or in any way limit the right of Medtronic to terminate this Agreement as set forth in <u>Article X</u> or alter the consequences of any such termination from those specified in such <u>Article X</u>. Any determination made by the Medtronic board of directors prior to the Separation concerning the satisfaction or waiver of any or all of the conditions set forth in this <u>Section 4.02</u> shall be conclusive.

SECTION 4.03. <u>Separation Date; Cash Consideration; MiniMed BV Note</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to the terms and conditions of this Agreement, the consummation of the Separation and the Initial Public Offering shall take place remotely via the electronic exchange of documents and signature pages on the date on which the Initial Public Offering closes or in such other manner or on such other date as Medtronic and SplitCo may mutually agree upon in writing. The day on which such closing of the Initial Public Offering takes place being the "<u>Separation Date</u>".

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In connection with the direct or indirect transfer of SplitCo Assets to SplitCo pursuant to this Agreement, SplitCo shall cause (i) MiniMed Holding B.V. to pay to Internal Distributing or one of its designated Affiliates, by wire transfer of immediately available funds to an account designated by Internal Distributing to SplitCo in writing, an amount of Cash of the SplitCo Group sufficient to repay all or a portion of the MiniMed BV Note (any unpaid portion of such MiniMed BV Note, the "<u>MiniMed BV Note Remainder Amount</u>") and (ii) if applicable, and as partial consideration for the SplitCo Assets contributed to Kangaroo US HoldCo Inc. ("<u>Kangaroo US HoldCo</u>") in the Medtronic, Inc. Contribution, Kangaroo US HoldCo to pay to Internal Distributing, by wire transfer of immediately available funds to an account designated by Internal Distributing to SplitCo in writing, an amount of Cash of the SplitCo Group as determined by Internal Distributing, in each case of clauses (i) and (ii), on the closing date of the Initial Public Offering, and, to the extent and in the manner contemplated by the Step Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If, after giving effect to the payments contemplated in <u>Section 4.03(b)</u>, the MiniMed BV Note Remainder Amount exceeds the maximum amount of the Cash that may be received in connection with the exercise of the underwriters' over-allotment option in connection with the Initial Public Offering (such option, the "<u>Greenshoe</u>", and such amount, the "<u>Maximum</u> <u>Greenshoe Amount</u>"), Internal Distributing shall contribute a portion of its receivable under the MiniMed BV Note in an amount equal to such excess, as reasonably determined by Internal Distributing, to Kangaroo US HoldCo in partial consideration for the constructive stock of Kangaroo US HoldCo issued to Internal Distributing in the Medtronic, Inc. Contribution. The balance of the MiniMed BV Note, if any, shall remain outstanding and payable to Internal Distributing or its designee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Parties intend that following the transactions contemplated by <u>Section</u> <u>4.03(b)</u>, the SplitCo Group shall retain an amount in Cash, determined based on a good faith estimate by Medtronic, equal to the Target Cash Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The amount payable to Internal Distributing pursuant to <u>Section 4.03(b)</u> and the amount retained by SplitCo pursuant to <u>Section 4.03(d)</u> shall be determined pursuant to <u>Schedule X</u>, after giving effect to (i) the Initial Public Offering, (ii) the SplitCo Financing Arrangements, (iii) the settlement of Intercompany Accounts as contemplated by the Internal Transactions and <u>Section 2.03(b)</u>, (iv) Cash received in connection with the exercise of the Greenshoe (the "<u>Greenshoe Amount</u>") and (v) such other transactions, facts and circumstances as Medtronic otherwise determines are relevant in its sole discretion (the "<u>Calculation Factors</u>"). The Parties shall determine the final amounts that are intended to be paid to Internal Distributing and retained by SplitCo Group pursuant to this <u>Section 4.03</u> and in accordance with the provisions of <u>Schedule X</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) If, after giving effect to the payments contemplated in <u>Section 4.03(b)</u> and <u>Section 4.03(e)</u> and the contribution of a portion of the receivable under the MiniMed BV Note pursuant to <u>Section 4.03(c)</u>, there are amounts remaining outstanding with respect to the MiniMed BV Note, Medtronic Inc. shall contribute the remaining outstanding receivable under the MiniMed BV Note to Kangaroo US HoldCo in partial consideration for the constructive

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stock of Kangaroo US HoldCo issued to Internal Distributing in the Medtronic, Inc. Contribution.

SECTION 4.04. <u>Sole Discretion of Medtronic</u>. Prior to the Separation Closing, Medtronic shall, in its sole and absolute discretion, determine all terms of the Separation and the Initial Public Offering, including the form, structure and terms of any transactions or offerings to effect the Separation and the timing of and conditions to the consummation thereof. In addition and notwithstanding anything to the contrary set forth below, Medtronic may at any time and from time to time until the Separation Closing decide to abandon, modify or change any or all of the terms of the Separation or the Initial Public Offering, including by accelerating or delaying the timing of the consummation of all or part of the Separation. For the purposes of this <u>Section 4.04</u> only, the term "Separation" shall include any transfers contemplated by <u>Section 2.07</u>.

Article V

<u>The Initial Public Offering; Divestment or Other Disposition</u>

SECTION 5.01. <u>The Initial Public Offering</u>. SplitCo shall consult with, and cooperate in all respects with and take all actions reasonably requested by, Medtronic in connection with the Initial Public Offering.

SECTION 5.02. <u>The Divestment or Other Disposition</u>. (a) Subject to applicable Law, Medtronic Parent shall, in its sole and absolute discretion, determine (i) whether and when to proceed with all or part of the Divestment or Other Disposition and (ii) all terms of the Divestment or Other Disposition, as applicable, including the form, structure and terms of any transaction(s) or offering(s) to effect the Divestment or Other Disposition and the timing of and conditions to the consummation of the Divestment or Other Disposition. In addition, in the event that Medtronic Parent determines to proceed with the Divestment or Other Disposition, Medtronic Parent may, subject to applicable Law, at any time and from time to time until the completion of the Divestment or Other Disposition abandon, modify or change any or all of the terms of the Divestment or Other Disposition, including by accelerating or delaying the timing of the consummation of all or part of the Divestment or Other Disposition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) SplitCo shall cooperate with Medtronic Parent and any member of the Medtronic Group to accomplish the Divestment or Other Disposition and shall, at Medtronic Parent's reasonable request, promptly take any and all actions necessary or desirable to effect the Divestment or Other Disposition, including the registration under the Securities Act of the offering of the SplitCo Common Stock on an appropriate registration form as reasonably designated by Medtronic Parent, the filing of any necessary documents pursuant to the Exchange Act and the filing of any necessary application or related documents with the Exchange in connection with listing the SplitCo Common Stock that is the subject of such Divestment or Other Disposition. Subject to applicable Law and contractual requirements among the Parties, Medtronic Parent shall select any investment bank, manager, transfer agent, underwriter or dealer manager in connection with the Divestment or Other Disposition, as well as any financial printer, solicitation or exchange agent and financial, legal, accounting, tax and other advisors and service providers in connection with the Divestment or Other Disposition, as applicable. Medtronic

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Parent and SplitCo, as the case may be, will provide to the exchange agent, if any, all share certificates and any information required in order to complete the Divestment or Other Disposition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything to the contrary contained in this Agreement, the Registration Rights Agreement shall control the terms and conditions of any Other Disposition to the extent contemplated therein.

Article VI

<u>Mutual Releases; Indemnification</u>

SECTION 6.01. <u>Release of Pre-Separation Claims</u>. (a) Except as provided in <u>Section 6.01(d)</u> or elsewhere in this Agreement or the Ancillary Agreements, effective as of the Internal Separation Closing (or, to the extent any relevant SplitCo Liabilities arise thereafter, the Separation Closing), SplitCo does hereby, for itself and each other member of the SplitCo Group, their respective Affiliates, and to the extent it may legally do so, successors and assigns and all Persons who at any time on or prior to the Internal Separation Closing or the Separation Closing, as applicable, have been shareholders, directors, officers, agents or employees of any member of the SplitCo Group (in each case, in their respective capacities as such), remise, release and forever discharge Medtronic and the other members of the Medtronic Group, their respective successors and assigns and all Persons who at any time on or prior to the Internal Separation Closing or the Separation Closing, as applicable, have been shareholders, directors, officers, agents or employees of any member of the Medtronic Group (in each case, in their respective capacities as such), and their respective heirs, executors, administrators, successors and assigns, from any and all SplitCo Liabilities whatsoever, whether at Law or in equity (including any right of contribution or recovery and including any remedy under Environmental Laws), whether arising under any Contract, by operation of Law or otherwise, existing or arising from any acts or events occurring or failing to occur or alleged to have occurred or to have failed to occur or any conditions existing or alleged to have existed on or before the Internal Separation Closing or the Separation Closing, as applicable, including in connection with the Separation, the Initial Public Offering and any Divestment or Other Disposition and all other activities to implement any such transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as provided in <u>Section 6.01(d)</u> or elsewhere in this Agreement or the Ancillary Agreements, effective as of the Internal Separation Closing (or, to the extent any relevant Medtronic Liabilities arise thereafter, the Separation Closing), Medtronic does hereby, for itself and each other member of the Medtronic Group, their respective Affiliates, and to the extent it may legally do so, successors and assigns and all Persons who at any time on or prior to the Internal Separation Closing or the Separation Closing, as applicable, have been shareholders, directors, officers, agents or employees of any member of the Medtronic Group (in each case, in their respective capacities as such), remise, release and forever discharge SplitCo and the other members of the SplitCo Group, their respective successors and assigns and all Persons who at any time on or prior to the Internal Separation Closing or the Separation Closing, as applicable, have been shareholders, directors, officers, agents or employees of any member of the SplitCo Group (in each case, in their respective capacities as such), and their respective heirs, executors,

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administrators, successors and assigns, from any and all Medtronic Liabilities whatsoever, whether at Law or in equity (including any right of contribution or recovery and including any remedy under Environmental Laws), whether arising under any Contract, by operation of Law or otherwise, existing or arising from any acts or events occurring or failing to occur or alleged to have occurred or to have failed to occur or any conditions existing or alleged to have existed on or before the Internal Separation Closing or the Separation Closing, as applicable, including in connection with the Separation, the Initial Public Offering and any Divestment or Other Disposition and all other activities to implement any such transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Parties expressly understand and acknowledge that it is possible that unknown losses or claims exist or might come to exist or that present losses may have been underestimated in amount, severity, or both. Accordingly, the Parties are deemed expressly to understand and acknowledge any federal, state or non-U.S. Law or right, rule or legal principle of the State of Delaware or any other jurisdiction that may be applicable herein which provides that: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH A CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN SUCH CREDITOR'S FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY SUCH CREDITOR MUST HAVE MATERIALLY AFFECTED SUCH CREDITOR'S SETTLEMENT WITH A DEBTOR. The Parties are hereby deemed to agree that any such or similar federal, state or non-U.S. Laws or rights, rules or legal principles of the State of Delaware or any other jurisdiction that may be applicable herein, are hereby knowingly and voluntarily waived and relinquished with respect to the releases in <u>Section 6.01(a)</u> and <u>Section 6.01(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Nothing contained in <u>Section 6.01(a)</u> or <u>Section 6.01(b)</u> shall impair any right of any Person to enforce this Agreement, any Ancillary Agreement or any Intercompany Agreement or Intercompany Account that is specified in <u>Section 2.03(c)</u> not to terminate as of the Separation Closing, in each case in accordance with its terms. Nothing contained in <u>Section</u> <u>6.01(a)</u> or <u>(b)</u> shall release:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any Person from any Liability provided in or resulting from any Contract among any members of the Medtronic Group or the SplitCo Group that is specified in <u>Section</u> <u>2.03(c)</u> as not to terminate as of the Separation, or any other Liability specified in such <u>Section</u> <u>2.03(c)</u> as not to terminate as of the Separation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any Person from any Liability, contingent or otherwise, assumed, transferred, assigned or allocated to the Group of which such Person is a member in accordance with, or any other Liability of any member of any Group under, this Agreement or any Ancillary Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) any Person from any Liability provided in or resulting from any other Contract that is entered into after the Separation between one Party (or a member of such Party's Group), on the one hand, and the other Party (or a member of such Party's Group), on the other hand; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any Person from any Liability that the Parties may have with respect to indemnification or contribution pursuant to this Agreement or any Ancillary Agreement for claims brought against the Parties, the members of their respective Groups or any of their

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respective directors, officers, employees or agents, by third Persons, which Liability shall be governed by the provisions of this <u>Article VI</u> or, if applicable, the appropriate provisions of the relevant Ancillary Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) SplitCo shall not make, and shall not permit any other member of the SplitCo Group to make, any claim or demand, or commence any Action asserting any claim or demand, including any claim of contribution or any indemnification, against Medtronic or any other member of the Medtronic Group, or any other Person released pursuant to <u>Section 6.01(a)</u>, with respect to any Liabilities released pursuant to <u>Section 6.01(a)</u>. Medtronic shall not make, and shall not permit any other member of the Medtronic Group to make, any claim or demand, or commence any Action asserting any claim or demand, including any claim of contribution or any indemnification against SplitCo or any other member of the SplitCo Group, or any other Person released pursuant to <u>Section 6.01(b)</u>, with respect to any Liabilities released pursuant to <u>Section</u> <u>6.01(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) It is the intent of each of Medtronic and SplitCo, by virtue of the provisions of this <u>Section 6.01</u>, to provide for a full and complete release and discharge of all Liabilities existing or arising from all acts and events occurring or failing to occur or alleged to have occurred or to have failed to occur and all conditions existing or alleged to have existed on or before the Separation Date, between or among SplitCo or any other member of the SplitCo Group, on the one hand, and Medtronic or any other member of the Medtronic Group, on the other hand (including any contractual agreements or arrangements existing or alleged to exist between or among any such members on or before the Separation Date), except as set forth in <u>Section 6.01(d)</u> or elsewhere in this Agreement or in any Ancillary Agreement. At any time, at the request of the other Party, each Party shall cause each member of its respective Group to execute and deliver releases reflecting the provisions hereof.

SECTION 6.02. <u>Indemnification by SplitCo</u>. Subject to <u>Section 6.04</u>, SplitCo shall indemnify, defend and hold harmless Medtronic, each other member of the Medtronic Group and each of their respective former and current shareholders, directors, officers, agents and employees, and each of the heirs, executors, successors and assigns of any of the foregoing (collectively, the "<u>Medtronic Indemnitees</u>"), from and against any and all Liabilities of the Medtronic Indemnitees relating to, arising out of or resulting from any of the following items (without duplication):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the SplitCo Liabilities, including the failure of SplitCo or any other member of the SplitCo Group or any other Person to pay, perform or otherwise promptly discharge any SplitCo Liability in accordance with its terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any breach by SplitCo or any other member of the SplitCo Group of this Agreement or any Ancillary Agreement unless such Ancillary Agreement expressly provides for separate indemnification therein (which shall be controlling); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any breach by SplitCo of any of the representations and warranties made by SplitCo on behalf of itself and the members of the SplitCo Group in <u>Section 11.01(c)</u>.

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SECTION 6.03. <u>Indemnification by Medtronic</u>. Subject to <u>Section 6.04</u>, Medtronic shall indemnify, defend and hold harmless SplitCo, each other member of the SplitCo Group and each of their respective former and current shareholders, directors, officers, agents and employees, and each of the heirs, executors, successors and assigns of any of the foregoing (collectively, the "<u>SplitCo Indemnitees</u>"), from and against any and all Liabilities of the SplitCo Indemnitees relating to, arising out of or resulting from any of the following items (without duplication):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Medtronic Liabilities, including the failure of Medtronic or any other member of the Medtronic Group or any other Person to pay, perform or otherwise promptly discharge any Medtronic Liability in accordance with its terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any breach by Medtronic or any other member of the Medtronic Group of this Agreement or any Ancillary Agreement unless such Ancillary Agreement expressly provides for separate indemnification therein (which shall be controlling); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any breach by Medtronic of any of the representations and warranties made by Medtronic on behalf of itself and the members of the Medtronic Group in <u>Section 11.01(c)</u>.

SECTION 6.04. <u>Indemnification Obligations Net of Insurance Proceeds and Third-Party</u> <u>Proceeds</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Parties intend that any Liability subject to indemnification or reimbursement pursuant to this Agreement will be net of (i) Insurance Proceeds that actually reduce the amount of, or are paid to the applicable Indemnitee in respect of, such Liability and (ii) other amounts recovered from any third party that actually reduce the amount of, or are paid to the applicable Indemnitee in respect of, such Liability ("<u>Third-Party Proceeds</u>"). Accordingly, the amount that either Party (an "<u>Indemnifying Party</u>") is required to pay to any Person entitled to indemnification or reimbursement pursuant to this Agreement (an "<u>Indemnitee</u>") will be reduced by any Insurance Proceeds or Third-Party Proceeds theretofore actually recovered by or on behalf of the Indemnitee from a third party in respect of the related Liability. If an Indemnitee receives a payment required by this Agreement from an Indemnifying Party in respect of any Liability (an "<u>Indemnity Payment</u>") and subsequently receives Insurance Proceeds or Third-Party Proceeds in respect of such Liability, then the Indemnitee will pay to the Indemnifying Party an amount equal to the excess of the Indemnity Payment received over the amount of the Indemnity Payment that would have been due if such Insurance Proceeds or Third-Party Proceeds had been received, realized or recovered before the Indemnity Payment was made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No provision in this Agreement or any Ancillary Agreement is intended to relieve any Insurer of any responsibility to pay any claim, grant any insurer any subrogation rights with respect to any claim or provide any Insurer with a "wind-fall" (i.e., a benefit they would not be entitled to receive, or the reduction or elimination of an insurance coverage provision obligation that they would otherwise have, in the absence of such provision). Notwithstanding the foregoing, an Indemnifying Party may not delay making an indemnification payment required under the terms of this Agreement, or otherwise satisfying any indemnification obligation, pending the outcome of any Actions to collect or recover any Insurance Proceeds, and an Indemnitee need not attempt to collect any Insurance Proceeds prior to making a claim for

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indemnification or receiving any Indemnity Payment otherwise owed to it under this Agreement or any Ancillary Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The calculation and Tax treatment of any Indemnity Payments required by this Agreement shall be subject to Section 5.4 of the TMA.

SECTION 6.05. <u>Procedures for Indemnification of Third-Party Claims</u>. If an Indemnitee shall receive notice or otherwise learn of a Third-Party Claim with respect to which an Indemnifying Party may be obligated to provide indemnification to such Indemnitee pursuant to this Agreement or any Ancillary Agreement, such Indemnitee shall give such Indemnifying Party written notice thereof as soon as reasonably practicable, but no later than 30 calendar days after becoming aware of such Third-Party Claim. Any such notice shall describe the Third-Party Claim in reasonable detail and include copies of all notices and documents (including court papers) received by the Indemnitee relating to the Third-Party Claim; provided however, that any such notice need only specify such information to the knowledge of the Indemnitee as of the date of such notice and shall not limit or prejudice any of the rights or remedies of any Indemnitee on the basis of any limitations on the information included in such notice, including any such limitations made in good faith to preserve the attorney-client privilege, work product doctrine or any other privilege. Notwithstanding anything to the contrary set forth in this <u>Section 6.05</u> and <u>Section 6.06</u>, the failure of any Indemnitee or other Person to give notice as provided in this <u>Section 6.05</u> or <u>Section 6.06</u> shall not relieve the related Indemnifying Party of its obligations under this <u>Article VI</u>, except to the extent that such Indemnifying Party is actually prejudiced by such failure to give notice in accordance with this <u>Section 6.05</u>. Any Third-Party Claim shall be managed by Medtronic and SplitCo in accordance with the provisions of <u>Section 6.12</u>, as if such Third-Party Claim were an Action.

SECTION 6.06. <u>Additional Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Any claim on account of a Liability that does not result from a Third-Party Claim shall be asserted by written notice given by the Indemnitee to the Indemnifying Party. The Indemnifying Party shall have a period of 30 calendar days after the receipt of such notice within which to respond thereto. If the Indemnifying Party does not respond within such 30-day period or rejects such claim in whole or in part, such Indemnitee shall be free to pursue such remedies as may be available to such Indemnitee as contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event of payment by or on behalf of an Indemnifying Party to any Indemnitee in connection with any Third-Party Claim, such Indemnifying Party shall be subrogated to and shall stand in the place of such Indemnitee as to any events or circumstances in respect of which such Indemnitee may have any right, defense or claim relating to such Third-Party Claim against any claimant or plaintiff asserting such Third-Party Claim or against any other Person. Such Indemnitee shall cooperate with the Indemnifying Party in a reasonable manner, and at the cost and expense of the Indemnifying Party, in prosecuting any subrogated right, defense or claim.

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SECTION 6.07. <u>Right to Contribution</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If any right of indemnification contained in <u>Section 6.02</u> or <u>Section 6.03</u> is held unenforceable, is unavailable for any reason, or is insufficient to hold harmless any Indemnitee in respect of any Liability for which such Indemnitee is entitled to indemnification hereunder, then the Indemnifying Party shall contribute to the amounts paid or payable by any Indemnitees as a result of such Liability (or actions in respect thereof) in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party and the members of its Group, on the one hand, and such Indemnitee and any other Indemnitees entitled to contribution in respect of such Liability, on the other hand, as well as any other relevant equitable considerations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Solely for purposes of determining relative fault pursuant to this <u>Section 6.07</u>: (i) any fault associated with the business conducted with SplitCo Assets or the SplitCo Liabilities or with the ownership, operation or activities of the SplitCo Business prior to the Separation Closing shall be deemed to be the fault of SplitCo and the other members of the SplitCo Group, and no such fault shall be deemed to be the fault of Medtronic or any other member of the Medtronic Group; and (ii) any fault associated with the business conducted with Medtronic Assets or the Medtronic Liabilities or with the ownership, operation or activities of the Medtronic Business prior to the Separation Closing shall be deemed to be the fault of Medtronic and the other members of the Medtronic Group, and no such fault shall be deemed to be the fault of SplitCo or any other member of the SplitCo Group.

SECTION 6.08. <u>Remedies Cumulative</u>. The remedies provided in this <u>Article VI</u> shall be cumulative and, subject to the provisions of <u>Article X</u>, shall not preclude assertion by any Indemnitee of any other rights or the seeking of any and all other remedies against any Indemnifying Party.

SECTION 6.09. <u>Survival of Indemnities</u>. The rights and obligations of each of Medtronic and SplitCo and their respective Indemnitees under this <u>Article VI</u> shall survive the sale or other transfer by any Party or its Affiliates of any Assets or businesses or the assignment by it of any Liabilities.

SECTION 6.10. <u>Limitation on Liability</u>. None of Medtronic, SplitCo or any other member of either Group shall in any event have any Liability to the other or to any other member of the other's Group, or to any other Medtronic Indemnitee or SplitCo Indemnitee, as applicable, under this Agreement for any indirect, special, punitive or consequential damages, whether or not caused by or resulting from negligence or breach of obligations hereunder and whether or not informed of the possibility of the existence of such damages; <u>provided</u>, <u>however</u>, that the provisions of this <u>Section 6.10</u> shall not limit an Indemnifying Party's indemnification obligations hereunder with respect to any Liability any Indemnitee may have to any third party not affiliated with any member of the Medtronic Group or the SplitCo Group for any indirect, special, punitive or consequential damages.

SECTION 6.11. <u>Covenant Not to Sue</u>. Each Party hereby covenants and agrees that none of it, the members of its Group or any Person claiming on behalf of it or its Group shall bring suit or

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otherwise assert any claim against any Indemnitee, or assert a defense against any claim asserted by any Indemnitee, before any Governmental Authority, alleging that: (a) the assumption or retention of any SplitCo Liabilities by SplitCo or any other member of the SplitCo Group on the terms and conditions set forth in this Agreement or any Ancillary Agreement is void or unenforceable for any reason; (b) the assumption or retention of any Medtronic Liabilities by Medtronic or any other member of the Medtronic Group on the terms and conditions set forth in this Agreement or any Ancillary Agreement is void or unenforceable for any reason; or (c) the provisions of this <u>Article VI</u> are void or unenforceable for any reason.

SECTION 6.12. <u>Management of Actions</u>. This <u>Section 6.12</u> shall govern the management and direction of pending and future Actions in which members of the Medtronic Group or the SplitCo Group are named as parties, but shall not alter the allocation of Liabilities set forth in <u>Article II</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) From and after the Separation Closing, the SplitCo Group shall direct the defense or prosecution of, and otherwise manage, any (i) Actions set forth on <u>Schedule XI</u> and (ii) Actions (other than Actions set forth on <u>Schedule XII</u> or <u>Schedule XIII</u>) that solely relate to (A) the SplitCo Business, SplitCo Liabilities or SplitCo Assets or (B) activities of the SplitCo Group following the Separation Closing (such Actions in <u>clauses (i)</u> and <u>(ii)</u>, "<u>SplitCo Actions</u>"). If a member of the Medtronic Group is named as a party or otherwise made subject to any SplitCo Action, (x) SplitCo and Medtronic shall use their reasonable best efforts to have SplitCo substituted for such member of the Medtronic Group (or to otherwise cause such member of the Medtronic Group to be removed as a party to such SplitCo Action) and (y) such member of the Medtronic Group shall not admit any liability with respect to, or settle, compromise or discharge, such SplitCo Action without the prior written consent of SplitCo (such consent not to be unreasonably withheld, conditioned or delayed).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) From and after the Separation Closing, the Medtronic Group shall direct the defense or prosecution of, and otherwise manage, any (i) Actions set forth on <u>Schedule XII</u> and (ii) Actions (other than Actions set forth on <u>Schedule XI</u> or <u>Schedule XIII</u>) that solely relate to (A) the Medtronic Business, Medtronic Liabilities or Medtronic Assets or (B) activities of the Medtronic Group following the Separation Closing (such Actions in <u>clauses (i)</u> and <u>(ii)</u>, "<u>Medtronic Actions</u>"). If a member of the SplitCo Group is named as a party or otherwise made subject to any Medtronic Action, (x) Medtronic and SplitCo shall use their reasonable best efforts to have Medtronic substituted for such member of the SplitCo Group (or to otherwise cause such member of the SplitCo Group to be removed as a party to such SplitCo Action) and (y) such member of the SplitCo Group shall not admit any liability with respect to, or settle, compromise or discharge, such Medtronic Action without the prior written consent of Medtronic (such consent not to be unreasonably withheld, conditioned or delayed).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) From and after the Separation Closing, the Parties shall separately but cooperatively manage (including as co-defendants or co-plaintiffs or Actions in which only one Party is named) any (i) Actions set forth in <u>Schedule XIII</u> and (ii) Actions (other than Actions set forth on <u>Schedule XI</u> or <u>Schedule XII</u>) that relate to both the Medtronic Business, Medtronic Assets or Medtronic Liabilities, on the one hand, and the SplitCo Business, SplitCo Assets or

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SplitCo Liabilities, on the other hand (such Actions in <u>clauses (i)</u> and <u>(ii)</u>, the "<u>Mixed Actions</u>"). The Parties shall reasonably cooperate and consult with each other, and to the extent legally permissible and necessary or advisable, maintain a joint defense in a manner that would preserve for both Parties and their respective Affiliates any attorney-client privilege, joint defense or other privilege with respect to any Mixed Action. In any Mixed Action, each of Medtronic and SplitCo may pursue separate defenses, claims, counterclaims or settlements to those claims relating to the Medtronic Business or the SplitCo Business, respectively; <u>provided</u> that each Party shall in good faith use its reasonable best efforts to avoid adverse effects on the other Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) No Party managing an Action pursuant to <u>Section 6.12(a)</u> or <u>(b)</u> shall consent to entry of any judgment or enter into any settlement of or compromise any such Action without the prior written consent of the other Party (not to be unreasonably withheld, conditioned or delayed) if such entry of judgment, settlement or compromise (i) contains any finding or admission of any violation of Law or any violation of the rights of any Person by such other Party, (ii) would result in any non-monetary remedy or relief being imposed upon any member of such other Party's Group (other than customary non-disclosure obligations) or (iii) to the extent such other Party (or a member of such other Party's Group) is named as a party to such Action, does not include a full and unconditional release of such other Party (or such member of such other Party's Group).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Notwithstanding anything to the contrary herein, in the event any such pending or future Action requires, results in or relates to any Real Property Remedial Action, such Real Property Remedial Action shall be managed in accordance with the provisions of <u>Schedule XIX</u>.

SECTION 6.13. <u>TMA Governs</u>. The above provisions of <u>Section 6.05,</u> <u>Section 6.06</u> and Section 6.12 do not apply to Taxes (it being understood and agreed that Taxes and Tax matters, including the control of Tax Contests, shall be governed by the TMA).

SECTION 6.14. <u>Additional Environmental Terms and Procedures</u>. Notwithstanding any provision of this Agreement to the contrary, Schedule <u>XIX</u> shall govern the conduct and management of any Environmental Liabilities that are subject to indemnification or reimbursement pursuant to this Agreement.

Article VII

<u>Access to Information; Confidentiality</u>

SECTION 7.01. <u>Agreement for Exchange of Information; Archives</u>.

(a) Except in the case of an Adversarial Action or threatened Adversarial Action, and subject to <u>Section 7.01(b)</u> and each Party's applicable document retention and destruction policies as in effect from time to time, each of Medtronic and SplitCo, on behalf of its respective Group, shall provide, or cause to be provided, to the other Party, as soon as reasonably practicable after written request therefor, any Information (or a copy thereof) created on or prior to the Separation Date that remains in the possession or under the control of such respective Group, which

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Medtronic or SplitCo, or any member of its respective Group, as applicable, reasonably needs (i) at any time after the Separation Closing, to comply with reporting, disclosure, filing, notification or other requirements applicable to Medtronic or SplitCo, or any member of its respective Group, as applicable (including under applicable securities laws), by any national securities exchange or by any Governmental Authority having jurisdiction over Medtronic or SplitCo, or any member of its respective Group, as applicable, (ii) at any time after the Separation Closing, but prior to the fifth (5<sup>th</sup>) anniversary of the Separation Date, for use in any other judicial, regulatory, administrative or other Action, internal investigation or internal audit or in order to satisfy audit, accounting, regulatory, litigation, regulatory request for information or other similar requirements or (iii) at any time after the Separation Closing, to comply with its obligations under this Agreement, any Ancillary Agreement or any other Contract in effect as of the Separation Closing. The receiving Party shall use any Information received pursuant to this <u>Section 7.01(a)</u> solely to the extent reasonably necessary to satisfy the applicable obligations or requirements described in <u>clause (i)</u>, <u>(ii)</u> or <u>(iii)</u> of the immediately preceding sentence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event that either Medtronic or SplitCo reasonably determines that the disclosure of any Information pursuant to <u>Section 7.01(a)</u> could (i) be competitively sensitive, (ii) violate any Law or Contract or (iii) waive or jeopardize any attorney-client privilege or attorney work product protection for which such Party has the sole right to control the assertion or waiver under Section 7.08, such Party shall not be required to provide access to or furnish such Information to the other Party; <u>provided</u>, <u>however</u>, that, if any access or Information is withheld by a Party pursuant to this <u>Section 7.01(b)</u>, such Party shall inform the other Party as to the general nature of what is being withheld and the basis for withholding such access or Information, and both Parties shall use reasonable best efforts to permit compliance with <u>Section</u> <u>7.01(a)</u> in a manner that avoids any such harm or consequence. Both Medtronic and SplitCo intend that any provision of access to or the furnishing of Information pursuant to this <u>Section</u> <u>7.01</u> that would otherwise be within the ambit of any legal privilege shall not operate as waiver of such privilege.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything to the contrary herein, nothing in this <u>Section 7.01</u> shall apply to the provision of any Information to the extent relating to Tax matters or Tax Records (such matters being governed by the TMA) or employee, compensation and benefits matters (such matters being governed by the EMA).

SECTION 7.02. <u>Ownership of Information</u>. The provision of Information to a requesting Party hereunder shall not be deemed, in and of itself, to transfer ownership of such Information. Except as specifically set forth herein or in the Ancillary Agreements, nothing herein shall be construed as granting or conferring rights of license or otherwise in any such Information.

SECTION 7.03. <u>Compensation for Providing Information</u>. The Party receiving access to any Information pursuant to this <u>Article VII</u> shall reimburse the providing Party for the reasonable costs, if any, in complying with a request for Information pursuant to this <u>Article VII</u>.

SECTION 7.04. <u>Record Retention</u>. To facilitate the possible exchange of Information pursuant to this <u>Article VII</u> and other provisions of this Agreement, each Party shall and shall cause each other member of such Party's respective Group, and solely with respect to the Information

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required to be shared under this <u>Article VII</u>, (a) implement and maintain commercially reasonable and legally compliant information retention policies and procedures applicable to its systems and any records of the other Party in its possession (including quality records, FCA records and similar records) and (b) use reasonable best efforts to comply with such policies. For the avoidance of doubt, such policies and procedures set forth in the preceding clause (a) and (b) shall be deemed to apply solely to any Information in a Party's possession or control on or after the Separation Date relating to (i) the other Party or any member of its Group or (ii) any Liabilities for which the other Party or members of its Group are responsible under this Agreement or any Ancillary Agreement. The Parties agree that Medtronic's information retention policies and procedures currently in use as of the date of this Agreement are deemed to be commercially reasonable and legally compliant for purposes of the foregoing clauses (a) and (b). In addition to the foregoing, each Party shall establish, continue and enforce legally compliant information retention policies and procedures (including, litigation holds, legal hold notices and similar preservation measures where applicable) so as to preserve potentially relevant Information and mitigate the risk of sanctions for loss or destruction of materials in pending or future reasonably anticipated litigation, investigations or regulatory matters, including, for the avoidance of doubt, all matters identified in <u>Schedule XI</u>, <u>Schedule XII</u> and <u>Schedule XIII</u>. Notwithstanding anything to the contrary set forth in this <u>Section 7.04</u>, Tax Records in the Information shall be retained in compliance with any additional retention protocols set forth in the TMA and, in case of conflict, the TMA shall prevail.

SECTION 7.05. <u>Disclosure and Financial Reporting</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Reporting Period Obligations</u>. The Parties agree that the obligations set forth in this <u>Section 7.05(a)</u> shall apply for so long as Medtronic Parent is required under GAAP to consolidate the results of operations and financial position of SplitCo and any other members of the SplitCo Group, or account for its investment in SplitCo or any other member of the SplitCo Group under the equity method of accounting (determined in accordance with GAAP consistently applied and consistent with Commission reporting requirements), including if any restatement is required with respect to such period (the "<u>Reporting Period</u>"). SplitCo shall provide all information, cooperation and support reasonably necessary for Medtronic Parent to comply with applicable financial reporting and disclosure requirements promulgated or enforced by the Commission and any other applicable governing bodies and local regulators:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Disclosure and Financial Controls</u>. SplitCo will, and will cause each other member of the SplitCo Group to, maintain, as of and after the Separation Date, (i) disclosure controls and procedures and internal control over financial reporting as defined in Exchange Act Rule 13a-15 and (ii) internal systems and procedures that provide reasonable assurance that (A) SplitCo's Financial Statements are reliable and timely prepared in accordance with GAAP and applicable Law, (B) all transactions of members of the SplitCo Group are recorded as necessary to permit the preparation of SplitCo's Financial Statements, (C) the receipts and expenditures of members of the SplitCo Group are authorized at the appropriate level within SplitCo and (D) unauthorized use or disposition of the assets of any member of the SplitCo Group that could have a material effect on SplitCo's Financial Statements is prevented or detected and communicated in a timely manner.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Fiscal Year and Monthly Accounting Periods</u>. SplitCo will, and will cause each member of the SplitCo Group to, maintain a fiscal year for purposes of GAAP reporting that commences and ends on the same calendar days as Medtronic Parent's fiscal year commences and ends and maintain monthly accounting periods for purposes of GAAP reporting that commence and end on the same calendar days as Medtronic Parent's monthly accounting periods commence and end.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Financial Reporting</u>. SplitCo will, and will cause each member of the SplitCo Group to, deliver to Medtronic Parent monthly, quarterly and annual financial reports and such supporting schedules, workpapers, and other financial information, as Medtronic Parent may reasonably request in accordance with Medtronic Parent's policies, procedures, practices and timelines with respect to the provision of financial information to Medtronic Parent in effect as of the Separation Date, as such policies, procedures, practices and timelines may be reasonably modified by Medtronic Parent from time to time. SplitCo shall deliver such information within such timeframes as Medtronic Parent may reasonably specify to meet its reporting calendar, provided that Medtronic Parent shall provide SplitCo with reasonable advance notice of its reporting requirements and deadlines.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) <u>Quarterly and Annual Financial Statements</u>. As soon as practicable after the end of each quarterly and annual accounting period of SplitCo, SplitCo will deliver to Medtronic Parent drafts of (A) the consolidated financial statements of SplitCo and notes thereto (including all underlying schedules, workpapers, reconciliations, analyses, tie-outs, and other support reasonably necessary for Medtronic Parent to prepare its consolidated financial statement footnotes and related disclosures) for such period, including applicable comparisons to prior periods, all in reasonable detail and prepared in accordance with Regulation S-X and GAAP and (B) a discussion and analysis by management of the SplitCo Group's financial condition and results of operations for such period, including an explanation of any material period-to-period change and any off-balance sheet transactions, all in reasonable detail and prepared in accordance with Items 303(a) and 305 of Regulation S-K (the information set forth in <u>clauses (A)</u> and <u>(B)</u>, the "<u>Financial Statements</u>"). From and after the delivery of such draft Financial Statements, SplitCo shall deliver to Medtronic Parent all revisions to such drafts as and when such revisions are made. No later than one (1) Business Day prior to the date SplitCo publicly files any Financial Statements with the Commission or otherwise makes such Financial Statements publicly available, SplitCo will deliver to Medtronic Parent the final form of such Financial Statements; <u>provided</u>, <u>however</u>, that SplitCo may continue to revise such Financial Statements prior to the filing thereof in order to make corrections and non-substantive changes so long as such corrections and changes are delivered to Medtronic Parent by SplitCo as soon as practicable, and in any event within eight (8) hours of the making thereof; <u>provided</u>, <u>further</u>, that Medtronic Parent's and SplitCo's financial representatives will actively consult with each other regarding any changes that SplitCo considers making to the Financial Statements and related disclosures during the period after delivery of the final form of Financial Statements pursuant to this sentence. In addition, SplitCo shall notify Medtronic Parent within eight (8) hours after any officer, employee, or agent of SplitCo becomes aware of (a) any error, inaccuracy, or omission in any Financial Statements or other financial information previously delivered to Medtronic Parent that could reasonably be expected to affect Medtronic Parent's financial statements or

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Commission filings, or (b) any significant deficiency or material weakness in the design or operation of internal controls over financial reporting. Notwithstanding anything to the contrary in this <u>(iv)</u>, Medtronic Parent and SplitCo will use reasonable best efforts to ensure that its Financial Statements for any fiscal period are filed in accordance with the scheduling requirements set forth on <u>Schedule XVI</u>, unless otherwise required by applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>SplitCo Reports Generally</u>. SplitCo shall, and shall cause each other member of the SplitCo Group that files information with the Commission to, deliver to Medtronic Parent drafts, as soon as the same are prepared, of (A) all releases, reports, notices and proxy and information statements to be sent or made available by any such member of the SplitCo Group to its security holders or the public, (B) all regular, periodic and other reports to be filed or furnished under Sections 13, 14 and 15 of the Exchange Act (including reports on Forms 10-K, 10-Q and 8-K and annual reports to shareholders) and (C) all registration statements and prospectuses to be filed by any such member of the SplitCo Group with the Commission or any securities exchange (the documents identified in <u>clauses (A)</u>, <u>(B)</u> and <u>(C)</u>, the "<u>SplitCo Public</u> <u>Documents</u>"). From and after the delivery of such draft SplitCo Public Documents, SplitCo shall, and shall cause each such other member of the SplitCo Group to, deliver to Medtronic Parent all material revisions to such drafts as and when such revisions are made. No later than five (5) Business Days (or, with respect to reports on Form 8-K, no later than one (1) Business Day) prior to the earliest of the dates the same are printed, sent or filed, SplitCo shall, and shall cause each such other member of the SplitCo Group to, deliver to Medtronic Parent substantially final drafts of SplitCo Public Documents; <u>provided</u>, however, that SplitCo may continue to revise such SplitCo Public Documents prior to the filing thereof so long as any such revisions are delivered to Medtronic Parent by SplitCo as soon as practicable, and in any event within eight (8) hours of the making thereof; <u>provided</u>, <u>further</u>, that Medtronic Parent's and SplitCo's financial representatives will actively consult with each other regarding any changes that SplitCo considers making to the SplitCo Public Documents and related disclosures during the period prior to any anticipated filing with the Commission. In addition, SplitCo shall notify Medtronic Parent immediately upon becoming aware of any event or circumstance that could reasonably be expected to require disclosure in a Form 8-K filing by SplitCo or Medtronic Parent. To the extent that both Medtronic Parent and SplitCo are required to file a Form 8-K in connection with the same or a related triggering event, the parties shall coordinate in good faith with respect to the timing of such filings; provided, that Medtronic Parent shall have the right to file its Form 8-K immediately prior to the filing of SplitCo's Form 8-K in connection with such triggering event. Notwithstanding anything to the contrary in this <u>Section 7.05(a)(v)</u>, SplitCo will not file its Form 10-K or Form 10-Q for the corresponding fiscal period with the Commission prior to the time that Medtronic Parent files its Form 10-K or Form 10-Q for the corresponding fiscal period with the Commission unless otherwise required by applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) <u>Budgets and Financial Projections</u>. SplitCo will deliver to Medtronic Parent budgets and financial projections relating to SplitCo on a consolidated basis consistent with the manner and timing that SplitCo prepared such information as of the Separation Date in accordance with Medtronic Parent's policies, procedures, practices and timelines with respect to the preparation of budgets and financial projections in effect as of the Separation Date, as such policies, procedures, practices and timelines may be reasonably modified by Medtronic Parent

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from time to time. SplitCo will provide Medtronic Parent an opportunity to meet with management of SplitCo to discuss such budgets and projections (it being understood that such obligation shall not grant Medtronic Parent any control over or authority with regards to SplitCo's budgets and financial projections); provided, that, for the avoidance of doubt, SplitCo shall have sole and exclusive authority over the preparation, approval and implementation of its budgets and financial projections.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) <u>Additional Information</u>. SplitCo shall promptly deliver to Medtronic Parent any financial and other data with respect to the SplitCo Group and its business, properties, financial position, results of operations and prospects as is reasonably requested by Medtronic Parent in connection with the preparation of Medtronic Parent's annual and quarterly financial statements and reports. Such information shall include, on a quarterly basis, comprehensive reports identifying all internal control deficiencies (regardless of severity level) and copies of all internal audit reports completed during such quarter, together with management's remediation plans and status updates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) <u>Earnings Releases and Financial Guidance</u>. SplitCo and Medtronic Parent will consult with each other as to the timing of their annual and quarterly earnings releases and any interim financial guidance for a current or future period and will give each other the opportunity to review the information therein relating to the SplitCo Group and to comment thereon. Medtronic Parent and SplitCo will use their reasonable best efforts to issue their respective annual and quarterly earnings releases, and to hold any related conference calls, in accordance with the scheduling requirements set forth on <u>Schedule XVI</u>. No later than three (3) Business Days prior to the date that SplitCo intends to publish its regular annual or quarterly earnings release or any financial guidance for a current or future period, SplitCo will deliver to Medtronic Parent copies of drafts of all related press releases, investor presentations and other statements to be made available to SplitCo's employees or to the public; <u>provided</u>, that SplitCo shall also deliver substantially final drafts of any such materials at least one (1) Business Day prior to the issuance thereof, and shall consult with Medtronic Parent regarding any changes (other than typographical or other similar minor changes) to such substantially final drafts. Notwithstanding anything to the contrary in this <u>Section 7.05(a)(viii)</u>, SplitCo will not issue its annual and quarterly earnings releases for a fiscal period prior to the time that Medtronic Parent issues its earnings release for the corresponding fiscal period without the express consent of Medtronic Parent unless otherwise required by applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) <u>Cooperation on Medtronic Filings</u>. SplitCo will cooperate fully with Medtronic Parent to the extent reasonably requested by Medtronic Parent in the preparation of (A) all releases, reports, notices and proxy and information statements to be sent or made available by any member of the Medtronic Group to its security holders or the public, (B) all regular, periodic and other reports to be filed or furnished under Sections 13, 14 and 15 of the Exchange Act (including reports on Forms 10-K, 10-Q and 8-K and annual reports to shareholders) and (C) all registration statements and prospectuses to be filed by any member of the Medtronic Group with the Commission or any securities exchange (the documents identified in <u>clauses (A)</u>, <u>(B)</u> and <u>(C)</u>, the "<u>Medtronic Public Documents</u>"). SplitCo agrees to provide to Medtronic Parent all information that Medtronic Parent reasonably requests in connection with

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any Medtronic Public Documents or that, in the judgment of Medtronic Parent's counsel, is required to be disclosed or incorporated by reference therein under applicable Law. SplitCo will provide such information in a timely manner on the dates reasonably requested by Medtronic Parent (which may be earlier than the dates on which SplitCo otherwise would be required to have such information available) to enable Medtronic Parent to prepare, print and release all Medtronic Public Documents on such dates as Medtronic Parent may determine. SplitCo will use its reasonable best efforts to cause the SplitCo Auditors to consent to any reference to them as experts in any Medtronic Public Documents required under applicable Law. If and to the extent requested by Medtronic Parent, SplitCo will diligently and promptly review all drafts of such Medtronic Public Documents and prepare in a diligent and timely fashion any portion of such Medtronic Public Documents pertaining to SplitCo. Prior to any printing or public release of any Medtronic Public Document, an appropriate executive officer of SplitCo will, if requested by Medtronic Parent, certify that the information relating to any member of the SplitCo Group or the SplitCo Business in such Medtronic Public Document is accurate, true, complete and correct in all material respects. Unless otherwise required by applicable Law, SplitCo will not publicly release any financial or other information that conflicts with the information with respect to any member of the SplitCo Group or the SplitCo Business that is included in any Medtronic Public Document without Medtronic Parent's prior written consent. Prior to the release or filing thereof, Medtronic Parent will provide SplitCo with a draft of any portion of a Medtronic Public Document containing information relating to the SplitCo Group and will give SplitCo an opportunity to review such information and comment thereon; <u>provided</u> that Medtronic Parent will determine in its sole and absolute discretion the final form and content of all Medtronic Public Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) <u>Selection of SplitCo Auditors</u>. Unless required by Law, SplitCo will not select an accounting firm other than PricewaterhouseCoopers LLP (or its affiliate accounting firms) (unless so directed by Medtronic Parent in accordance with a change by Medtronic Parent in its accounting firm) to serve as its independent certified public accountants ("<u>SplitCo Auditors</u>") without Medtronic Parent's prior written consent, not to be unreasonably withheld, conditioned or delayed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) <u>Information Needed by Auditors</u>. SplitCo shall provide all required financial information with respect to the SplitCo Group to the SplitCo Auditors in a sufficient and reasonable time and in sufficient detail to permit the SplitCo Auditors to take all steps and provide all reviews necessary to provide sufficient assistance to PricewaterhouseCoopers LLP (the "<u>Medtronic Auditors</u>") with respect to information to be included or contained in Medtronic Parent's annual and quarterly financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) <u>Access to SplitCo Auditors</u>. SplitCo will authorize the SplitCo Auditors to make available to the Medtronic Auditors both the personnel who performed, or are performing, the annual audit and quarterly reviews of SplitCo and work papers related to the annual audit and quarterly reviews of SplitCo, in all cases within a reasonable time prior to the SplitCo Auditors' opinion date, so that the Medtronic Auditors are able to perform the procedures they consider necessary to take responsibility for the work of the SplitCo Auditors as it relates to the Medtronic Auditors' report on Medtronic Parent's financial statements, all within sufficient time to enable

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Medtronic Parent to meet its timetable for the printing, filing and public dissemination of Medtronic Parent's annual financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) <u>Access to Records</u>. If Medtronic Parent determines in good faith that there may be some inaccuracy in the financial statements of a member of the SplitCo Group or a deficiency or inadequacy in the internal accounting controls or operations of a member of the SplitCo Group that could materially impact Medtronic Parent's financial statements, at Medtronic Parent's request, SplitCo will provide the Medtronic Auditors and Medtronic Parent's other representatives with access to the SplitCo Group's books and records so that Medtronic Parent may conduct reasonable audits relating to the financial statements provided by SplitCo under this Agreement as well as to the internal accounting controls and operations of the SplitCo Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) <u>Notice of Changes</u>. SplitCo will give Medtronic Parent as much prior notice as reasonably practicable of any proposed determination of, or any significant changes in, SplitCo's accounting estimates or accounting policies and principles from those in effect on the Separation Date. SplitCo will consult with Medtronic Parent and, if requested by Medtronic Parent, SplitCo will consult with the Medtronic Auditors with respect thereto. Unless otherwise required by applicable Law, SplitCo will not make any such determination or changes without Medtronic Parent's prior written consent if such a determination or a change would be sufficiently material to be required to be disclosed in SplitCo's or Medtronic Parent's financial statements as filed with the Commission or otherwise publicly disclosed therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) <u>Special Reports of Deficiencies or Violations</u>. SplitCo will report in reasonable detail to Medtronic Parent the following events or circumstances promptly after any executive officer of SplitCo or any member of the board of directors of SplitCo becomes aware of such matter: (i) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect SplitCo's ability to record, process, summarize and report financial information, (ii) any fraud, whether or not material, that involves management or other employees who have a significant role in SplitCo's internal controls over financial reporting, (iii) any illegal act within the meaning of Section 10A(b) and (f) of the Exchange Act, (iv) any report of a material violation of Law that an attorney representing any member of the SplitCo Group has formally made to any officers or directors of SplitCo pursuant to the Commission's attorney conduct rules, (v) any determination that there may be some inaccuracy in the financial statements of a member of the SplitCo group or a deficiency or inadequacy in the internal accounting controls or operations of a member of the SplitCo Group that could materially impact Medtronic Parent's Financial Statements and (vi) the occurrence of any event following a reporting period that would reasonably be expected to be required by GAAP to be disclosed as a subsequent event in the consolidated financial statements of Medtronic Parent or SplitCo.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) <u>Certifications</u>. In order to enable the principal executive officer(s) and principal financial and accounting officer(s) (as such terms are defined in the rules and regulations of the Commission) of Medtronic Parent to make any certifications required of them under Section 302 or 906 of the Sarbanes-Oxley Act of 2002, SplitCo shall, within a reasonable

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period of time following a request from Medtronic Parent in anticipation of filing such reports, cause its principal executive officer(s), principal accounting officer(s) and principal financial officer(s) to provide Medtronic Parent with certifications of such officers, in a form reasonably acceptable to Medtronic Parent, in support of the certifications of Medtronic Parent's principal executive officer(s) and principal financial officer(s) required under Section 302 or 906 of the Sarbanes-Oxley Act of 2002 with respect to each Quarterly Report on Form 10-Q and Annual Report on Form 10-K of Medtronic Parent for which Medtronic Parent is required by Law to consolidate the financial results or financial position of SplitCo and any other members of the SplitCo Group in its financial statements (either on a consolidation or equity accounting basis, determined in accordance with GAAP and consistent with Commission reporting requirements) or complete a financial statement audit for any period during which the financial results or financial position of the SplitCo Group were consolidated with those of Medtronic Parent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii) <u>Designees</u>. Except as expressly set forth in this <u>Section 7.05</u>, all reports, drafts, statements, data, certifications or other information required to be delivered to a Party pursuant to this <u>Section 7.05</u> shall be required to be delivered to the designees of such Party set forth on <u>Schedule XVI</u>. Each Party may, by notice to the other Party, change the designees to which such information is required to be delivered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Post-Reporting Period Audit Obligations</u>. Following the end of the Reporting Period, the Parties agree that the obligations set forth in this subsection (b) shall apply for so long as Medtronic Parent's financial statements are subject to audit or review for financial reporting purposes under the Irish Companies Act 2014, as amended, or the Securities Exchange Act of 1934, as amended, for any fiscal year or interim period during which the Reporting Period occurred, which period shall end upon the later of the filing of Medtronic Parent's Form 10-K with the Commission and Medtronic Parent's Irish statutory financial statements with the Irish Companies Registration Office for the final fiscal year in which the Reporting Period occurred, including if any restatement is required with respect to such period. During such period, SplitCo shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Cooperation on Medtronic Filings</u>. SplitCo will cooperate fully with Medtronic Parent and provide such schedules, workpapers, footnote support schedules, and other financial information as Medtronic Parent may reasonably request to complete its Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K for periods that include any portion of the Reporting Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Selection of SplitCo Auditors</u>. Unless required by Law, SplitCo will not select an accounting firm other than PricewaterhouseCoopers LLP (or its affiliate accounting firms) (unless so directed by Medtronic Parent in accordance with a change by Medtronic Parent in its accounting firm) to serve as its SplitCo Auditors without Medtronic Parent's prior written consent, not to be unreasonably withheld, conditioned or delayed, for so long as Medtronic Parent's financial statements remain subject to audit or review under the Irish Companies Act 2014 or the Securities Exchange Act of 1934 for any fiscal year or interim period during which the Reporting Period occurred.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Access to SplitCo Auditors</u>. SplitCo will authorize the SplitCo Auditors to make available to the Medtronic Auditors both the personnel who performed, or are performing, the annual audit and quarterly reviews of SplitCo and work papers related to the annual audit and quarterly reviews of SplitCo, in all cases within a reasonable time prior to the SplitCo Auditors' opinion date, so that the Medtronic Auditors are able to perform the procedures they consider necessary to take responsibility for the work of the SplitCo Auditors as it relates to the Medtronic Auditors' report on Medtronic Parent's financial statements, all within sufficient time to enable Medtronic Parent to meet its timetable for the printing, filing and public dissemination of Medtronic Parent's annual financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) <u>Access to Records</u>. If Medtronic Parent determines in good faith that there may be some inaccuracy in the financial statements of a member of the SplitCo Group or a deficiency or inadequacy in the internal accounting controls or operations of a member of the SplitCo Group relating to the Reporting Period that could materially impact Medtronic Parent's financial statements, at Medtronic Parent's request, SplitCo will provide the Medtronic Auditors and Medtronic Parent's other representatives with access to the SplitCo Group's books and records relating to the Reporting Period so that Medtronic Parent may conduct reasonable audits relating to the financial statements provided by SplitCo under this Agreement as well as to the internal accounting controls and operations of the SplitCo Group during the Reporting Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>Special Reports of Deficiencies or Violations</u>. SplitCo will report in reasonable detail to Medtronic Parent promptly upon discovery of: (A) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting that existed during the Reporting Period which are reasonably likely to have adversely affected SplitCo's ability to record, process, summarize and report financial information during such period, (B) any fraud, whether or not material, that involves management or other employees who have a significant role in SplitCo's internal controls over financial reporting that occurred during the Reporting Period, (C) any illegal act within the meaning of Section 10A(b) and (f) of the Exchange Act that occurred during the Reporting Period, (D) any report of a material violation of Law that an attorney representing any member of the SplitCo Group has formally made to any officers or directors of SplitCo pursuant to the Commission's attorney conduct rules relating to the Reporting Period, (E) any determination that there may be some inaccuracy in the financial statements of a member of the SplitCo Group or a deficiency or inadequacy in the internal accounting controls or operations of a member of the SplitCo Group relating to the Reporting Period that could materially impact Medtronic Parent's financial statements and (F) the occurrence of any event following a reporting period within the Reporting Period that would reasonably be expected to be required by GAAP to be disclosed as a subsequent event in the consolidated financial statements of Medtronic Parent or SplitCo.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) <u>Designees</u>. Except as expressly set forth in this subsection (b), all reports, drafts, statements, data, or other information required to be delivered to a Party pursuant to this subsection (b) shall be required to be delivered to the designees of such Party set forth on <u>Schedule XVI</u>. Each Party may, by notice to the other Party, change the designees to which such information is required to be delivered.

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SECTION 7.06. <u>No Liability</u>. Neither Medtronic nor SplitCo shall have any Liability to the other Party in the event that any Information exchanged or provided pursuant to this Agreement that is an estimate or forecast, or that is based on an estimate or forecast, is found to be inaccurate in the absence of willful misconduct by the providing Person. Neither Medtronic nor SplitCo shall have any Liability to the other Party hereunder if any Information is destroyed after reasonable best efforts by SplitCo or Medtronic, as applicable, to comply with the provisions of <u>Section 7.04</u>.

SECTION 7.07. <u>Production of Witnesses; Records; Cooperation</u>. (a) Without limiting any of the rights or obligations or the Parties pursuant to <u>Section 7.01</u> or <u>Section 7.04</u>, after the Separation Date, except in the case of an Adversarial Action or threatened or contemplated Adversarial Action, each of Medtronic and SplitCo shall cooperate with and provide reasonable assistance to the other Party in connection with any Action (whether threatened or contemplated) or internal investigation or audit in which the other Party or any Person in its Group may from time to time be involved. Such cooperation and assistance shall include, upon written request and to the extent reasonably practicable, making individuals available for interviews, depositions, testimony or other participation, and providing access to books, records and other documents within the assisting Party's control and possession. The requesting Party shall bear all reasonable costs and expenses in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Without limiting the foregoing, Medtronic and SplitCo shall use their reasonable best efforts to cooperate and consult with each other to the extent reasonably necessary with respect to any Actions, threatened or contemplated Actions or internal investigations or internal audits (including in connection with preparation for any such Action, investigation or audit), other than an Adversarial Action or threatened or contemplated Adversarial Action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The obligation of Medtronic and SplitCo to use reasonable best efforts to make available former, current and future directors, officers, employees and other personnel and agents or provide witnesses and experts pursuant to this <u>Section 7.07</u> is intended to be interpreted in a manner so as to facilitate cooperation and shall include the obligation to make available employees and other officers without regard to whether such individual or the employer of such individual could assert a possible business conflict (other than in the case of any Adversarial Action or threatened or contemplated Adversarial Action).

SECTION 7.08. <u>Privileged Matters</u>. (a) The Parties recognize that legal and other professional services that have been and will be provided prior to the Separation Closing (whether by outside counsel, in-house counsel or other legal professionals) have been and will be rendered for the collective benefit of each of the members of the Medtronic Group and the SplitCo Group, and that each of the members of the Medtronic Group and the SplitCo Group shall be deemed to be the client with respect to such services for the purposes of asserting all privileges which may be asserted under applicable Law in connection therewith. The Parties recognize that legal and other professional services will be provided following the Separation Closing, which services will be rendered solely for the benefit of the Medtronic Group or the SplitCo Group, as the case may be.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Medtronic shall be entitled, in perpetuity, to control the assertion or waiver of all privileges and immunities in connection with any privileged Information: (x) that relates solely to the Medtronic Business and not to the SplitCo Business; or (y) that relates solely to any Medtronic Assets or Medtronic Liabilities and not any SplitCo Assets or SplitCo Liabilities in connection with any Actions that are now pending or may be asserted in the future, whether or not the privileged Information is in the possession or under the control of any member of the Medtronic Group or any member of the SplitCo Group. Any disclosure of Medtronic's privileged Information shall require Medtronic's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) SplitCo shall be entitled, in perpetuity, to control the assertion or waiver of all privileges and immunities in connection with any privileged Information: (x) created after the Separation Date that relates solely to the SplitCo Business and not to the Medtronic Business; or (y) created after the Separation Date that relates solely to any SplitCo Assets or SplitCo Liabilities and not any Medtronic Assets or Medtronic Liabilities in connection with any Actions that are now pending or may be asserted in the future. Any disclosure of SplitCo's privileged Information shall require SplitCo's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Medtronic and SplitCo shall jointly control the assertion or waiver of all privileges and immunities in connection with any privileged Information created before the Separation Date that relates solely to the SplitCo Business, SplitCo Assets, or SplitCo Liabilities in connection with any Actions that are now pending or may be asserted in the future; provided that neither Party may waive such privilege without the other Party's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) If the Parties do not agree as to whether certain information is privileged Information, then such Information shall be treated as privileged Information, and the Party that believes that such information is privileged Information shall be entitled to control the assertion or waiver of all privileges and immunities in connection with any such information until such time as it is finally judicially determined that such information is not privileged Information or unless the Parties otherwise agree.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Subject to the remaining provisions of this <u>Section 7.08</u>, the Parties agree that Medtronic shall be entitled, in perpetuity, to control the assertion or waiver with respect to all privileges and immunities not allocated pursuant to <u>Section 7.08(b)</u> in connection with any Actions or threatened or contemplated Actions or other matters that involve both Parties (or one or more members of their respective Groups) and in respect of which both Parties have Liabilities under this Agreement. Upon the reasonable request of Medtronic, in connection with any Action or threatened or contemplated Action contemplated by this <u>Article VII</u>, other than any Adversarial Action or threatened or contemplated Adversarial Action, Medtronic and SplitCo will enter into a mutually acceptable common interest agreement so as to maintain to the extent practicable any applicable attorney-client privilege or work product immunity of any member of either Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If any dispute arises between the Parties or any members of their respective Group regarding whether a privilege or immunity should be waived to protect or advance the

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interests of either Party or any member of their respective Groups, each Party agrees that it shall (i) negotiate with the other Party in good faith, (ii) endeavor to minimize any prejudice to the rights of the other Party and the members of its Group and (iii) not unreasonably withhold, delay or condition consent to any request for waiver by the other Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Upon receipt by either Party, or by any member of its respective Group, of any subpoena, discovery or other request (or of written notice that it will or has received such subpoena, discovery or other request) that may reasonably be expected to result in the production or disclosure of privileged Information subject to a shared privilege or immunity or as to which the other Party has the sole right hereunder to assert a privilege or immunity, or if either Party obtains knowledge or becomes aware that any of its, or any member of its respective Group's, current or former directors, officers, agents or employees have received any subpoena, discovery or other requests (or have received written notice that they will or have received such subpoena, discovery or other requests) that may reasonably be expected to result in the production or disclosure of such privileged Information, such Party shall promptly notify the other Party of the existence of any such subpoena, discovery or other request and shall provide the other Party a reasonable opportunity to review the privileged Information and to assert any rights it or they may have under this <u>Section 7.08</u> or otherwise, to prevent the production or disclosure of such privileged Information; <u>provided</u> that if such Party is prohibited by applicable Law from disclosing the existence of such subpoena, discovery or other request, such Party shall provide written notice of such related information for which disclosure is not prohibited by applicable Law and use reasonable best efforts to inform the other Party of any related information such Party reasonably determines is necessary or appropriate for the other Party to be informed of to enable the other Party to review the privileged Information and to assert its rights, under this <u>Section 7.08</u> or otherwise, to prevent the production or disclosure of such privileged Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Parties agree that their respective rights to any access to Information, witnesses and other Persons, the furnishing of notices and documents and other cooperative efforts between the Parties contemplated by this Agreement, and the transfer of privileged Information between the Parties and members of their respective Groups pursuant to this Agreement, shall not be deemed a waiver of any privilege that has been or may be asserted under this Agreement or otherwise. The Parties further agree that (i) the exchange by one Party to the other Party of any Information that should not have been exchanged pursuant to the terms of <u>Section 7.09</u> shall not be deemed to constitute a waiver of any privilege or immunity that has been or may be asserted under this Agreement or otherwise with respect to such privileged Information and (ii) the Party receiving such privileged Information shall promptly return such privileged Information to the Party who has the right to assert the privilege or immunity.

SECTION 7.09. <u>Confidential Information</u>. (a) Each of Medtronic and SplitCo, on behalf of itself and each Person in its respective Group, agrees to hold, and cause its and their respective directors, officers, employees, agents, accountants, counsel and other advisors and representatives to hold, in strict confidence, not release or disclose, and protect, with at least the same degree of care, but no less than a reasonable degree of care, that Medtronic applies to its own confidential and proprietary information pursuant to policies in effect immediately prior to

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the Separation Date, all Information concerning the other Group or its business that is either in its possession (including Information in its possession prior to the Separation Closing) or furnished by the other Group or its respective directors, officers, employees, agents, accountants, counsel and other advisors and representatives at any time pursuant to this Agreement, and shall not use any such Information other than for such purposes as shall be expressly permitted hereunder, except, in each case, to the extent that such Information is (i) in the public domain through no fault of any member of the Medtronic Group or the SplitCo Group, as applicable, or any of its respective directors, officers, employees, agents, accountants, counsel and other advisors and representatives, (ii) later lawfully acquired from other sources by any member of the Medtronic Group or the SplitCo Group, as applicable, or any of its respective directors, officers, employees, agents, accountants, counsel or other advisors or representatives, as applicable, which sources are not themselves bound by a confidentiality obligation to the knowledge of any member of the Medtronic Group or the SplitCo Group, as applicable, (iii) independently generated after the date hereof without reference to any proprietary or confidential Information of the Medtronic Group or the SplitCo Group, as applicable, or (iv) required to be disclosed by Law; <u>provided</u>, <u>however</u>, that the Person required to disclose such Information pursuant to this <u>clause (iv)</u> gives the applicable Person prompt, and to the extent reasonably practicable and legally permissible, prior notice of such disclosure and an opportunity to contest such disclosure and shall use reasonable best efforts to cooperate, at the expense of the requesting Person, in seeking any reasonable protective arrangements requested by such Person. In the event that such appropriate protective order or other remedy is not obtained, the Person that is required to disclose such Information shall furnish, or cause to be furnished, only that portion of such Information that is legally required to be disclosed and shall use reasonable best efforts to ensure that confidential treatment is accorded such Information. Notwithstanding the foregoing, each of Medtronic and SplitCo may release or disclose, or permit to be released or disclosed, any such Information concerning the other Group (x) to the members of its Group and its and their respective directors, officers, employees, agents, accountants, counsel and other advisors and representatives who need to know such Information (who shall be advised of the obligations hereunder with respect to such Information), and (y) prior to the Separation Date, to any nationally recognized statistical rating organization as it reasonably deems necessary, solely for the purpose of obtaining a rating of securities or other debt instruments upon customary terms and conditions; <u>provided</u>, <u>however</u>, that the Party whose Information is being disclosed or released to such rating organization is promptly notified thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Without limiting the foregoing, when any Information concerning the other Group or its business is no longer needed for the purposes contemplated by this Agreement or any Ancillary Agreement, each of Medtronic and SplitCo will, reasonably promptly after the request of the other Party, either return all Information in a tangible form (including all copies thereof and all notes, extracts or summaries based thereon) or certify to the other Party, as applicable, that it has destroyed such Information, other than, in each case, any such Information electronically preserved or recorded within any computerized data storage device or component (including any hard-drive or database) pursuant to automatic or routine backup or storage procedures.

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Article VIII

<u>Insurance</u>

SECTION 8.01. <u>Maintenance of Insurance</u>. Except as otherwise expressly permitted in this <u>Article VIII</u>, Medtronic and SplitCo acknowledge that, as of immediately prior to the Separation Date, Medtronic intends to take such action as it may deem necessary or desirable to remove the members of the SplitCo Group and their respective employees, officers and directors as insured parties under the Medtronic Insurance Policies. Subject to <u>Section 8.02</u>, the SplitCo Group will not be entitled, on or following the Separation Date, absent the mutual agreement of SplitCo and Medtronic, to make any claims for insurance thereunder to the extent such claims are based upon facts, circumstances, events or matters occurring on or after the Separation Date. No member of the Medtronic Group shall be deemed to have made any representation or warranty to a member of the SplitCo Group or otherwise as to the availability of any coverage under any such Medtronic Insurance Policy. Notwithstanding the foregoing, for a period of two (2) years following the Separation Date, Medtronic shall, and shall cause the other members of the Medtronic Group to, use reasonable best efforts to take such actions as are necessary to cause the Medtronic Insurance Policies that immediately prior to the Separation Date provide coverage to or with respect to the SplitCo Liabilities to continue to provide such coverage with respect to acts, omissions or events occurring prior to the Separation Date in accordance with their terms as if the Separation Closing had not occurred.

SECTION 8.02. <u>Claims under Medtronic Insurance Policies</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On and after the Separation Date, the members of each of the Medtronic Group and the SplitCo Group shall have the right to assert Medtronic Policy Pre-Separation Insurance Claims with respect to SplitCo Liabilities and the members of the SplitCo Group shall have the right to participate with Medtronic to resolve such Medtronic Policy Pre-Separation Insurance Claims under the applicable Medtronic Insurance Policies up to the full extent of the applicable and available limits of liability of such Medtronic Insurance Policy. Medtronic shall have primary control over all Medtronic Policy Pre-Separation Insurance Claims for which the Medtronic Group or the SplitCo Group, respectively, bears the underlying loss, subject to the terms and conditions of the relevant policy of insurance governing such control. If a member of the SplitCo Group is unable to assert a Medtronic Policy Pre-Separation Insurance Claim because it is no longer an "insured" under a Medtronic Insurance Policy, then Medtronic shall, to the extent permitted by applicable Law and the terms of such insurance policy, assert such claim in its own name and deliver the Insurance Proceeds to SplitCo.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) With respect to Medtronic Policy Pre-Separation Insurance Claims relating to SplitCo Liabilities, whether or not known or reported on or prior to the Separation Date, SplitCo shall, or shall cause the applicable member of the SplitCo Group to, report such claims as soon as practicable to each of Medtronic and the applicable insurer(s), and SplitCo shall, or shall cause the applicable member of SplitCo Group to, jointly, assume and be responsible (including, upon the request of Medtronic, by reimbursement to Medtronic for amounts paid or payable by it) for the reimbursement liability (including any deductible, coinsurance or retention payment) related to its portion of the liability, unless otherwise agreed in writing by Medtronic.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) On or before March 1 of each calendar year commencing with the first full calendar year following the Separation Date, SplitCo shall pay to Medtronic an upfront payment (the "<u>Annual Upfront Claims Payment</u>") in an amount not to exceed $1,000,000 per calendar year. The Annual Upfront Claims Payment shall be determined as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) For each calendar year commencing with the first full calendar year following the Separation Date, the Parties shall mutually determine in good faith the Annual Upfront Claims Payment no later than February 1 of such calendar year, taking into account, as applicable, (x) in respect of each calendar year including and after the second full calendar year following the Separation Date, the aggregate amount of Medtronic Policy Pre-Separation Insurance Claims actually paid during the immediately preceding calendar year, and (y) the Parties' good faith projections of anticipated Medtronic Policy Pre-Separation Insurance Claims for the upcoming calendar year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If the Parties are unable to mutually agree on the Annual Upfront Claims Payment by February 1, such amount shall be (x) for the first full calendar year following the Separation Date, Medtronic's reasonable estimate of such amount and (y) for subsequent calendar years, the aggregate amount of Medtronic Policy Pre-Separation Insurance Claims actually paid during the immediately preceding calendar year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Following the end of each calendar year, the Parties shall conduct an annual true-up to determine the unused portion of the Annual Upfront Claims Payment for such calendar year (the "<u>Roll-Forward Amount</u>"). Any Roll-Forward Amount shall be carried forward and credited dollar-for-dollar against SplitCo's Annual Upfront Claims Payment obligation for the immediately succeeding calendar year. The Parties shall cooperate in good faith with respect to the administration and management of the Annual Upfront Claims Payment, including by (i) confirming the Roll-Forward Amount as part of the annual true-up process, and (ii) meeting on an annual basis (or more frequently as reasonably requested by either Party) to discuss the adequacy of the Annual Upfront Claims Payment based on actual Medtronic Policy Pre-Separation Insurance Claims experience and anticipated future Medtronic Policy Pre-Separation Insurance Claims.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) To the extent Medtronic advances or otherwise pays any amounts on account of such Medtronic Policy Pre-Separation Insurance Claims that are subject to reimbursement by SplitCo pursuant to this <u>Section 8.02</u>, Medtronic shall invoice SplitCo on a quarterly basis for any such reimbursable amounts, and, to the extent the aggregate amount of such Medtronic Policy Pre-Separation Insurance Claims exceeds the amount of the Annual Upfront Claims Payment actually paid by SplitCo in respect of a calendar year, SplitCo shall remit (or cause to be remitted) payment in full in the amount of such unpaid excess to the account(s) designated in such invoice within thirty (30) days following receipt of each such invoice. Any amounts owed by SplitCo to Medtronic pursuant to this <u>Section 8.02(e)</u> that are not paid within thirty (30) days of Medtronic's written demand for reimbursement shall bear interest from the date of Medtronic's payment through the date of SplitCo's reimbursement at a rate equal to the Cost of Capital.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Each of Medtronic and SplitCo shall, and shall cause each member of the Medtronic Group and SplitCo Group, respectively, to, cooperate and assist the applicable member of the SplitCo Group and the Medtronic Group, as applicable, with respect to such Medtronic Policy Pre-Separation Insurance Claims. Medtronic agrees that Medtronic Policy Pre-Separation Insurance Claims of members of the SplitCo Group shall receive the same priority as Medtronic Policy Pre-Separation Insurance Claims of members of the Medtronic Group and, subject to the other provisions of this <u>Section 8.02</u>, be treated equitably in all respects, including in connection with deductibles, retentions and coinsurance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) To the extent applicable and not in conflict with the foregoing provisions of this <u>Section 8.02</u> or any other provision of this Agreement, Medtronic and SplitCo shall follow the policies and procedures set forth on <u>Schedule XX</u> with respect to Medtronic Policy Pre-Separation Insurance Claims.

SECTION 8.03. <u>Claims under SplitCo Insurance Policies</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On and after the Separation Date, the members of each of the SplitCo Group and the Medtronic Group shall have the right to assert SplitCo Policy Pre-Separation Insurance Claims and the members of the Medtronic Group shall have the right to participate with SplitCo to resolve SplitCo Policy Pre-Separation Insurance Claims under the applicable SplitCo insurance policies up to the full extent of the applicable and available limits of liability of such policy. SplitCo or Medtronic, as the case may be, shall have primary control over those SplitCo Policy Pre-Separation Insurance Claims for which the SplitCo Group or the Medtronic Group, respectively, bears the underlying loss, subject to the terms and conditions of the relevant policy of insurance governing such control. If a member of the Medtronic Group is unable to assert a SplitCo Policy Pre-Separation Insurance Claim because it is no longer an "insured" under a SplitCo insurance policy, then SplitCo shall, to the extent permitted by applicable Law and the terms of such insurance policy, assert such claim in its own name and deliver the Insurance Proceeds to Medtronic.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) With respect to SplitCo Policy Pre-Separation Insurance Claims, whether or not known or reported on or prior to the Separation Date, Medtronic shall, or shall cause the applicable member of the Medtronic Group to, report such claims arising from the Medtronic Business as soon as practicable to each of SplitCo and the applicable insurer(s), and Medtronic shall, or shall cause the applicable member of Medtronic Group to, individually, and not jointly, assume and be responsible (including, upon the request of SplitCo, by reimbursement to SplitCo for amounts paid or payable by it) for the reimbursement liability (including any deductible, coinsurance or retention payment) related to its portion of the liability, unless otherwise agreed in writing by SplitCo. Each of SplitCo and Medtronic shall, and shall cause each member of the SplitCo Group and Medtronic Group, respectively, to, cooperate and assist the applicable member of the Medtronic Group and the SplitCo Group, as applicable, with respect to such SplitCo Policy Pre-Separation Insurance Claims. SplitCo agrees that SplitCo Policy Pre-Separation Insurance Claims of members of the Medtronic Group shall receive the same priority as SplitCo Policy Pre-Separation Insurance Claims of members of the SplitCo Group and be

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treated equitably in all respects, including in connection with deductibles, retentions and coinsurance.

SECTION 8.04. <u>Insurance Proceeds</u>. Any Insurance Proceeds received by the Medtronic Group for members of the SplitCo Group or by the SplitCo Group for members of the Medtronic Group shall be for the benefit, respectively, of the SplitCo Group and the Medtronic Group. Any Insurance Proceeds received for the benefit of both the Medtronic Group and the SplitCo Group shall be distributed pro rata based on the respective share of the underlying loss.

SECTION 8.06. <u>Certain Limitations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Medtronic (or the applicable member of the Medtronic Group) shall retain the exclusive right to control the insurance policies and programs (including the Medtronic Insurance Policies) of the Medtronic Group, including to terminate, exhaust, settle, release, commute, buy-back, amend, modify, waive any rights under or otherwise resolve disputes with respect to any such insurance policies and programs, irrespective of whether any such insurance policies or programs apply to SplitCo Liabilities and/or claims that SplitCo has made or could make in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For the avoidance of doubt, from and after the Separation Closing, neither SplitCo nor any member of the SplitCo Group shall have access to, nor the right to make claims under, the Medtronic Insurance Policies to the extent such access or claims are based upon facts, circumstances, events or matters occurring on or after the Separation Date.

SECTION 8.07. <u>Coverage After the Separation</u>. It is the responsibility of the SplitCo Group to obtain continuing insurance coverage for the Assets of the SplitCo Group and for the Liabilities of the SplitCo Group that arise following the Separation Closing. Medtronic shall provide, and shall cause the other members of the Medtronic Group to provide, such cooperation as is reasonably requested by SplitCo in order for SplitCo to have in effect after the Separation

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Closing such new insurance policies and programs as SplitCo deems reasonably appropriate to operate its business.

SECTION 8.08. <u>No Assignment of Entire Insurance Policies</u>. This Agreement shall not be considered an attempted assignment of any Medtronic Insurance Policy or any other insurance policy, nor shall it be construed to be a Contract of insurance. Further this Agreement shall not be construed to waive any right or remedy of any member of the Medtronic Group under or with respect to any Medtronic Insurance Policy or any other Contract or insurance policy.

SECTION 8.09. <u>Director and Officer Liability Insurance</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Until the Separation Closing, Medtronic shall maintain directors and officers liability insurance policies or fiduciary liability insurance policies (collectively, "<u>D&O Insurance</u> <u>Policies</u>") for officers and directors of the SplitCo Group to the extent commercially available and at premiums not materially different than the coverage in effect as of the date hereof, and shall not take any action that would adversely and disproportionately affect the coverage available to officers and directors of the SplitCo Group for D&O Indemnification Liabilities as compared to the officers and directors of the Medtronic Group; <u>provided</u>, <u>however</u>, that, notwithstanding anything to the contrary in this Agreement, during the period between the Separation Closing and the Divestment Date, Medtronic may elect, in its sole discretion, to cover the applicable Liabilities of the Medtronic Group and the SplitCo Group under D&O Insurance Policies that cover both the Medtronic Group and the SplitCo Group in the same policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) On and after the Separation Closing, to the extent that any claims have been duly reported before the Separation Closing or are otherwise covered under the D&O Insurance Policies maintained by members of the Medtronic Group, Medtronic shall not, and shall cause the members of the Medtronic Group not to, take any action intended to limit the coverage of the individuals who acted as directors or officers of SplitCo (or other members of the SplitCo Group) prior to the Separation Closing for D&O Indemnification Liabilities under any D&O Insurance Policies maintained by the members of the Medtronic Group. On and after the Separation Closing, Medtronic shall, and shall cause the other members of the Medtronic Group to, reasonably cooperate with the individuals who acted as directors and officers of SplitCo (or other members of the SplitCo Group) prior to the Separation Closing in their pursuit of any coverage claims under such D&O Insurance Policies for D&O Indemnification Liabilities which could inure to the benefit of such individuals. SplitCo acknowledges that it is the responsibility of the SplitCo Group to obtain continuing insurance coverage for the directors and officers of the members of the SplitCo Group for Liabilities occurring after the Separation Closing.

Article IX

<u>Further Assurances and Additional Covenants</u>

SECTION 9.01. <u>Further Assurances</u>. (a) In addition to the actions specifically provided for elsewhere in this Agreement, each of the Parties shall, subject to <u>Section 4.04</u> and <u>Section</u> <u>5.02(a)</u>, use reasonable best efforts, prior to, on and after the Separation Date, to take, or cause to be taken, all actions, and to do, or cause to be done, all things, reasonably necessary, proper or

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advisable under applicable Laws and agreements to consummate and make effective the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Without limiting the foregoing, prior to, on and after the Separation Date, each Party shall cooperate with the other Party (i) to execute and deliver, or use reasonable best efforts to execute and deliver, or cause to be executed and delivered, all Conveyancing and Assumption Instruments as such Party may reasonably be requested to execute and deliver by the other Party, (ii) to make, or cause to be made, all filings with, and to obtain, or cause to be obtained, all Governmental Approvals or other Consents required by Law or otherwise necessary or advisable under any ruling, judgment, Permit, Contract, indenture or other instrument, (iii) to obtain, or cause to be obtained, any Governmental Approvals or other Consents required to effect the Separation, any transfers pursuant to <u>Section 2.07</u>, the Initial Public Offering, the Divestment or the Other Disposition and (iv) to take, or cause to be taken, all such other actions as such Party may reasonably be requested to take by the other Party from time to time, consistent with the terms of this Agreement and the Ancillary Agreements, in order to effectuate the provisions and purposes of this Agreement and any transfers of Assets or assignments and assumptions of Liabilities hereunder and the other transactions contemplated hereby; <u>provided</u>, that neither Party nor any member of its Group shall be required to pay or grant any consideration or concession in any form (including providing any letter of credit, guaranty or other financial accommodation) to any Person in order to obtain or submit any such Governmental Approval or Consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) On or prior to the Separation Date, Medtronic and SplitCo, in their respective capacities as direct and indirect shareholders of their respective Subsidiaries, shall each ratify any actions that are reasonably necessary or desirable to be taken by SplitCo or any other Subsidiary of Medtronic, as the case may be, to effectuate the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Prior to the Divestment Date, SplitCo will not, without the prior written consent of Medtronic (which it may withhold in its sole and absolute discretion), issue (i) any shares of SplitCo Voting Stock or any rights, warrants or options to acquire SplitCo Voting Stock (including, securities convertible into or exchangeable for SplitCo Voting Stock) or (ii) any share of SplitCo Non-Voting Stock; <u>provided</u> that, regardless of whether or not Medtronic shall have consented thereto, in no case shall any such issuance (after giving effect to such issuance and considering all the shares of SplitCo Voting Stock or SplitCo Non-Voting Stock acquirable pursuant to any rights, warrants and options that may be outstanding on the date of such issuance (whether or not then exercisable) and any other relevant Contracts or arrangements), result in Medtronic owning directly or indirectly less than the number of shares necessary to (x) constitute control of SplitCo within the meaning of Section 368(c) of the Code or (y) meet the stock-ownership requirements described in Section 1504(a)(2) of the Code (in each case, if the number 80.1 were substituted for the number 80 each time it appears in such Sections).

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Article X

<u>Termination</u>

SECTION 10.01. <u>Termination</u>. This Agreement may be terminated by Medtronic at any time, in its sole discretion, prior to the Separation Closing.

SECTION 10.02. <u>Effect of Termination</u>. In the event of any termination of this Agreement prior to the Separation Closing, neither Party (nor any of its directors or officers) shall have any Liability or further obligation to the other Party under this Agreement or the Ancillary Agreements.

Article XI

<u>Miscellaneous</u>

SECTION 11.01. <u>Counterparts; Entire Agreement; Corporate Power</u>. (a) This Agreement may be executed in one or more counterparts, all of which counterparts shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each Party and delivered to the other Party. This Agreement may be executed by facsimile or PDF signature and a facsimile or PDF signature shall constitute an original for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Agreement, the Ancillary Agreements and the Exhibits and Schedules hereto and thereto contain the entire agreement between the Parties with respect to the subject matter hereof and supersede all previous agreements, negotiations, discussions, writings, understandings, commitments and conversations with respect to such subject matter, and there are no agreements or understandings between the Parties with respect to the subject matter hereof other than those set forth or referred to herein or therein. Notwithstanding any other provisions in this Agreement to the contrary, it is the intention of the Parties that this Agreement shall be consistent with the terms of the Ancillary Agreements. If there is a conflict between any provision of this Agreement and any specific provision of an applicable Ancillary Agreement, such Ancillary Agreement shall control; <u>provided</u> that with respect to any Conveyancing and Assumption Instrument, this Agreement shall control unless specifically stated otherwise in such Conveyancing and Assumption Instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Medtronic represents on behalf of itself and each other member of the Medtronic Group, and SplitCo represents on behalf of itself and each other member of the SplitCo Group, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) each such Person has the requisite corporate or other power and authority and has taken all corporate or other action necessary in order to execute, deliver and perform each of this Agreement and each Ancillary Agreement to which it is a party and to consummate the transactions contemplated hereby and thereby; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) this Agreement and each Ancillary Agreement to which it is a party has been (or, in the case of any Ancillary Agreement, will be on or prior to the Separation Date) duly

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executed and delivered by it and constitutes, or will constitute, a valid and binding agreement of it enforceable in accordance with the terms thereof.

SECTION 11.02. <u>Governing Law; Dispute Resolution; Jurisdiction</u>. (a) This Agreement shall be governed by, and construed in accordance with, the Laws of the State of Delaware, regardless of the Laws that might otherwise govern under applicable principles of conflicts of Laws thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Unless otherwise set forth in this Agreement, in the event of any dispute arising under this Agreement between the Parties (a "<u>Dispute</u>"), either Party may refer such Dispute to the respective senior officers of such Parties by delivering written notice of such Dispute to the other Party (a "<u>Negotiation Notice</u>"). Upon delivery of a Negotiation Notice, each Party shall attempt in good faith to resolve such Dispute by negotiation among their respective senior officers who hold, at a minimum, the title of Vice President and who have authority to settle such Dispute ("<u>Senior Negotiation</u>"). Notwithstanding the foregoing, the Parties may mutually agree in writing to waive the Senior Negotiation and proceed directly to the Mediation Process pursuant to <u>Section 11.02(c)</u> or, if both Parties so agree in writing, to waive both the Senior Negotiation and the Mediation Process and proceed directly to litigation pursuant to <u>Section 11.02(e)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the Parties are unable to resolve any Dispute within 30 calendar days of the delivery of a Negotiation Notice, then either Party shall have the right to initiate non-binding mediation (the "<u>Mediation Process</u>") by delivering written notice to the other Party (a "<u>Mediation</u> <u>Notice</u>"). Upon delivery of a Mediation Notice, the applicable Dispute shall be promptly submitted for non-binding mediation, and the Parties shall participate in such mediation in good faith for a period of 30 calendar days or such longer period as the Parties may mutually agree in writing (the "<u>Mediation Period</u>"). Notwithstanding the foregoing, the Parties may mutually agree in writing to waive the Mediation Process and proceed directly to litigation pursuant to <u>Section</u> <u>11.02(e)</u>. In connection with such mediation, the Parties shall cooperate with each other in selecting a neutral mediator with relevant industry experience and in scheduling the mediation proceedings; provided that, if the Parties fail to agree on a neutral mediator within 30 calendar days of the Mediation Notice, then the Parties will proceed directly to litigation pursuant to <u>Section 11.02(e)</u>. The Parties agree to bear equally the costs of any mediation, including any fees or expenses of the applicable mediator; <u>provided</u>, that each Party shall bear its own costs in connection with participating in such mediation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) For the avoidance of doubt, any negotiations or mediation conducted in accordance with <u>Section 11.02(b)</u> or <u>Section 11.02(c)</u> shall be subject to Federal Rule of Civil Procedure 408 or any applicable state Law equivalent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If the Parties are unable to resolve any Dispute via negotiation or mediation in accordance with <u>Section 11.02(b)</u> and <u>Section 11.02(c)</u>, then, following the Mediation Period, either Party may commence litigation in a court of competent jurisdiction pursuant to <u>Section</u> <u>11.02(f)</u>. For the avoidance of doubt, except as set forth in <u>Section 11.02(g)</u>, neither Party may commence litigation with respect to a Dispute until and unless the Parties first fail to resolve such Dispute via negotiation and mediation in accordance with <u>Section 11.02(b)</u> and <u>Section</u> <u>11.02(c)</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Each Party irrevocably consents to the exclusive jurisdiction, forum and venue of the Court of Chancery of the State of Delaware or, if (and only if) the Court of Chancery of the State of Delaware finds it lacks subject matter jurisdiction, the federal court of the United States sitting in Delaware or, if (and only if) the federal court of the United States sitting in Delaware finds it lacks subject matter jurisdiction, the Superior Court of the State of Delaware, and appellate courts thereof, over any and all claims, disputes, controversies or disagreements between the Parties or any of their respective Subsidiaries, Affiliates, successors and assigns under or related to this Agreement or any document executed pursuant to this Agreement or any of the transactions contemplated hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Notwithstanding anything in this Agreement to the contrary, a Party may seek a temporary restraining order or a preliminary injunction from any court of competent jurisdiction, at any time, in order to prevent immediate and irreparable injury, loss or damage on a provisional basis, pending the resolution of any dispute hereunder, including under <u>Section</u> <u>11.02(b)</u> or <u>(c)</u> hereof.

SECTION 11.03. <u>Assignability</u>. Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in part, by operation of Law or otherwise by either Party without the prior written consent of the other Party. Any purported assignment without such consent shall be void. Subject to the preceding sentences, this Agreement will be binding upon, inure to the benefit of, and be enforceable by, the Parties and their respective successors and assigns. Notwithstanding the foregoing, (a) Medtronic may assign this Agreement (or any provision thereof) to any Affiliate of Medtronic and (b) either Party may assign this Agreement without consent of the other Party in connection with (i) a merger transaction in which such Party is not the surviving entity and the surviving entity acquires or assumes all or substantially all of such Party's Assets, or (ii) the sale of all or substantially all of such Party's Assets; <u>provided</u>, <u>however</u>, that the assignee expressly assumes in writing all of the obligations of the assigning Party under this Agreement, and the assigning Party provides written notice and evidence of such assignment and assumption to the non-assigning Party; provided, further, that upon the effective time of the SplitCo Merger, SplitCo Parent shall, automatically and without any action from any other Person (including the requirements described in the immediately foregoing proviso), succeed to all of SplitCo's rights and obligations under this Agreement and shall expressly assume and agree to perform, discharge, and be bound by all of SplitCo's obligations, covenants, and liabilities under this Agreement and all Ancillary Agreements to which the Initial SplitCo Party is a party as of the effective time of the SplitCo Merger. No assignment permitted by this <u>Section 11.03</u> shall release the assigning Party from liability for the full performance of its obligations under this Agreement.

SECTION 11.04. <u>Third-Party Beneficiaries</u>. Except for the indemnification rights under this Agreement of any Medtronic Indemnitee or SplitCo Indemnitee in their respective capacities as such, (a) the provisions of this Agreement are solely for the benefit of the Parties hereto and their successors and permitted assigns and are not intended to confer upon any Person except the Parties hereto and their successors and permitted assigns any rights or remedies hereunder and (b) there are no third-party beneficiaries of this Agreement and this Agreement shall not provide

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any third person with any remedy, claim, liability, reimbursement, cause of action or other right in excess of those existing without reference to this Agreement.

SECTION 11.05. <u>Notices</u>. All notices or other communications under this Agreement shall be in writing and shall be deemed to be duly given (a) when delivered in person, (b) on the date received, if sent by a nationally recognized delivery or courier service or (c) upon the earlier of confirmed receipt or the fifth Business Day following the date of mailing if sent by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

If to Medtronic, to:

Medtronic, Inc.

Medtronic Operational Headquarters

710 Medtronic Parkway

Minneapolis, MN 55432

Attention: Vice President, Corporate Development & Ventures

Senior Legal Director, Business Development

Email:&nbsp;&nbsp;&nbsp;&nbsp;

with a copy (which shall not constitute notice) to:

Cleary Gottlieb Steen & Hamilton LLP

650 California Street

San Francisco, CA 94108

Attention:&nbsp;&nbsp;&nbsp;&nbsp;Benet J. O'Reilly

Email: &nbsp;&nbsp;&nbsp;&nbsp;

and

Cleary Gottlieb Steen & Hamilton LLP

One Liberty Plaza

New York, NY 10006

Attention:&nbsp;&nbsp;&nbsp;&nbsp;Kimberly R. Spoerri

Email: &nbsp;&nbsp;&nbsp;&nbsp;

If to SplitCo, to:

Kangaroo US HoldCo, Inc.

1800 Devonshire Street

Northridge, CA

Attention Courtney Nelson Wills, General Counsel

Email:&nbsp;&nbsp;&nbsp;&nbsp;

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with a copy (which shall not constitute notice) to:

Cleary Gottlieb Steen & Hamilton LLP

650 California Street

San Francisco, CA 94108

Attention:&nbsp;&nbsp;&nbsp;&nbsp;Benet J. O'Reilly

Email: &nbsp;&nbsp;&nbsp;&nbsp;

and

Cleary Gottlieb Steen & Hamilton LLP

One Liberty Plaza

New York, NY 10006

Attention:&nbsp;&nbsp;&nbsp;&nbsp;Kimberly R. Spoerri

Email: &nbsp;&nbsp;&nbsp;&nbsp;

Either Party may, by notice to the other Party, change the address to which such notices are to be given.

SECTION 11.06. <u>Severability</u>. If any provision of this Agreement or the application thereof to any Person or circumstance is determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to Persons or circumstances or in jurisdictions other than those as to which it has been held invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to either Party. Upon any such determination, any such provision, to the extent determined to be invalid, void or unenforceable, shall be deemed replaced by a provision that such court determines is valid and enforceable and that comes closest to expressing the intention of the invalid, void or unenforceable provision.

SECTION 11.07. <u>Publicity</u>. Other than in connection with an Adversarial Action, each of Medtronic and SplitCo shall consult with the other, and shall, subject to the requirements of <u>Section 7.09</u>, provide the other Party the opportunity to review and comment upon, any press releases or other public statements in connection with the Separation, the Initial Public Offering, the Divestment or the Other Disposition or any of the other transactions contemplated hereby and any filings with any Governmental Authority or national securities exchange with respect thereto, in each case prior to the issuance or filing thereof, as applicable (including the IPO Registration Statement, the Parties' respective Current Reports on Form 8-K to be filed on the Divestment Date, the Parties' respective Quarterly Reports on Form 10-Q filed with respect to the fiscal quarter during which the Divestment Date occurs, or if such quarter is the fourth fiscal quarter, the Parties' respective Annual Reports on Form 10-K filed with respect to the fiscal year during which the Divestment Date occurs (each such Quarterly Report on Form 10-Q or Annual Report on Form 10-K, a "<u>First Post-Divestment Report</u>")). Each Party's aforementioned obligations in this <u>Section 11.07</u> shall terminate on the date on which such Party's First Post-

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Divestment Report is filed with the Commission. SplitCo shall issue a press release upon the closing of the Initial Public Offering, which press release shall be subject to Medtronic's prior approval and consent, and Medtronic shall retain the right to issue a press release or public statement regarding the closing of the Initial Public Offering or any other transactions contemplated hereby at any time in its sole discretion.

SECTION 11.08. <u>Expenses</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as expressly set forth in this Agreement or in any Ancillary Agreement, or as otherwise agreed to in writing by the Parties, (i) Medtronic shall bear and pay all Transaction Expenses incurred at or prior to the Separation Closing and (ii) SplitCo shall bear and pay all Transaction Expenses incurred after the Separation Closing; <u>provided</u>, that, notwithstanding this <u>clause (ii)</u>, Medtronic shall bear and pay (A) any Transaction Expenses that are primarily related to the stand-up of members of the Medtronic Group and (B) any Transaction Expenses incurred in connection with services expressly requested by Medtronic in writing following the Separation Closing and SplitCo shall bear the Underwriters' discount arising from the Initial Public Offering and any financing fees arising from the SplitCo Financing Arrangements. For the avoidance of doubt, this <u>Section 11.08</u> shall not affect each Party's responsibility to indemnify the SplitCo Liabilities and the Medtronic Liabilities, as applicable, arising from the transactions contemplated by the Divestment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If any Party (or a member of its Group) actually pays any Transaction Expenses (such Party, the "<u>Actual Payor</u>") that were required to have been borne and paid by the other Party pursuant to this <u>Section 11.08</u> or otherwise (such other Party, the "<u>Required Payor</u>"), the Actual Payor may invoice the Required Payor for the amount of such Transaction Expenses on a quarterly basis (which such invoice shall include reasonable documentation of the amount of such Transaction Expenses), and the Required Payor shall be required to pay such amount to the Actual Payor within sixty (60) days after receipt of such invoice. Any payment not received by the Actual Payor by such date and not otherwise the subject of a good faith dispute shall be subject to a late payment interest charge using the 1-month term secured overnight financing rate (Term SOFR), determined as of such date, plus 0.5%; provided that in the event of any good faith dispute, interest shall not be due on that part of the invoice subject to dispute until after settlement or other resolution of such dispute; provided, further, that a resolution in favor of the Required Payor shall not result in the incurrence of any late-payment interest charges.

SECTION 11.09. <u>Headings</u>. The article, section and paragraph headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

SECTION 11.10. <u>Survival of Covenants</u>. Except as expressly set forth in this Agreement, the covenants in this Agreement and the liabilities for the breach of any obligations in this Agreement shall survive the Separation, the Initial Public Offering and any Divestment or Other Disposition, as applicable, and shall remain in full force and effect.

SECTION 11.11. <u>Waivers of Default</u>. No failure or delay of any Party (or the applicable member of its Group) in exercising any right or remedy under this Agreement or any Ancillary

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Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or power. Waiver by any Party of any default by the other Party of any provision of this Agreement shall not be deemed a waiver by the waiving Party of any subsequent or other default.

SECTION 11.12. <u>Specific Performance</u>. Subject to <u>Section 4.04</u> and <u>Section 5.02(a)</u>, in the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the affected Party shall have the right to specific performance and injunctive or other equitable relief of its rights under this Agreement, in addition to any and all other rights and remedies at Law or in equity, and all such rights and remedies shall be cumulative. The Parties agree that the remedies at Law for any breach or threatened breach hereof, including monetary damages, are inadequate compensation for any loss and that any defense in any action for specific performance that a remedy at Law would be adequate is waived. Any requirements for the securing or posting of any bond with such remedy are waived.

SECTION 11.13. <u>No Admission of Liability</u>. The allocation of Assets and Liabilities herein is solely for the purpose of allocating such Assets and Liabilities between Medtronic and the other members of the Medtronic Group, on the one hand, and SplitCo and the other members of the SplitCo Group, on the other hand, and is not intended as an admission of liability or responsibility for any alleged Liabilities vis-à-vis any third party.

SECTION 11.14. <u>Amendments; Waivers</u>. No provisions of this Agreement shall be deemed amended, supplemented or modified by any Party, unless such amendment, supplement or modification is in writing and signed by an authorized representative of each Party, and no waiver of any provisions of this Agreement shall be effective unless in writing and signed by an authorized representative of the Party sought to be bound by such waiver.

SECTION 11.15. <u>Right of Set-Off</u>. Each Party (and its Affiliates) may set off any amounts owed to it by the other Party (or its Affiliates) under this Agreement or any other Ancillary Agreement against any amounts it owes to the other Party (or its Affiliates) under any such Contracts. The Party exercising set-off rights shall provide prompt written notice to the other Party.

SECTION 11.16. <u>Interpretation</u>. Words in the singular shall be held to include the plural and vice versa and words of one gender shall be held to include the other gender as the context requires. The terms "hereof," "herein" and "herewith" and words of similar import, unless otherwise stated, shall be construed to refer to this Agreement as a whole (including all of the schedules hereto) and not to any particular provision of this Agreement. Article, Section or Schedule references are to the articles, sections and schedules of or to this Agreement unless otherwise specified. Any capitalized terms used in any Schedule to this Agreement or to any Ancillary Agreement but not otherwise defined therein shall have the meaning as defined in this Agreement or the Ancillary Agreement to which such Schedule is attached, as applicable. Any definition of or reference to any agreement, instrument or other document herein (including any reference herein to this Agreement) shall be construed to refer to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified from time to time (subject to any restrictions on such amendments, supplements or modifications as set forth

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herein). The word "including" and words of similar import when used in this Agreement shall mean "including, without limitation," unless the context otherwise requires or unless otherwise specified. The word "or" shall not be exclusive. The words "will" and "shall" shall be interpreted to have the same meaning. In the event that an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favoring or disfavoring either Party by virtue of the authorship of any provisions hereof.

SECTION 11.17. <u>Waiver of Jury Trial</u>. EACH OF THE PARTIES ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH OF THE PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT. EACH OF THE PARTIES CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT, IN THE EVENT OF ANY LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH OF THE PARTIES UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH OF THE PARTIES MAKES THIS WAIVER VOLUNTARILY AND (D) EACH OF THE PARTIES HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 11.17</u>.

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IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their duly authorized representatives.

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| | | |
|:---|:---|:---|
| MEDTRONIC GROUP HOLDING, INC. | MEDTRONIC GROUP HOLDING, INC. | MEDTRONIC GROUP HOLDING, INC. |
| | by | |
| | | /s/ Brian Sandstrom |
| | | Name: Brian Sandstrom |
| | | Title: Vice President and Secretary |

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---

| | | |
|:---|:---|:---|
| KANGAROO US HOLDCO 2, INC. | KANGAROO US HOLDCO 2, INC. | KANGAROO US HOLDCO 2, INC. |
| | by | |
| | | /s/ Chris Eso |
| | | Name: Chris Eso |
| | | Title: President |

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## Exhibit 10.2

**Exhibit 10.2**

**TAX MATTERS AGREEMENT**

**by and between**

**MEDTRONIC GROUP HOLDING, INC.**

**and**

**KANGAROO US HOLDCO 2, INC.**

**Dated as of March 1, 2026**

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**TABLE OF CONTENTS**

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| | | |
|:---|:---|:---|
| ARTICLE I | ARTICLE I | ARTICLE I |
| **DEFINITIONS** | **DEFINITIONS** | **DEFINITIONS** |
| 1.1 | Definitions | 2 |
| ARTICLE II | ARTICLE II | ARTICLE II |
| **PAYMENTS AND TAX REFUNDS** | **PAYMENTS AND TAX REFUNDS** | **PAYMENTS AND TAX REFUNDS** |
| 2.1 | Allocation of Tax Liabilities. | 10 |
| 2.2 | EMA Taxes | 10 |
| 2.3 | Tax Refunds | 11 |
| 2.4 | Tax Benefits | 11 |
| 2.5 | Prior Agreements | 12 |
| 2.6 | Determination of Taxes Attributable to the SplitCo Business. | 12 |
| ARTICLE III | ARTICLE III | ARTICLE III |
| **PREPARATION AND FILING OF TAX RETURNS** | **PREPARATION AND FILING OF TAX RETURNS** | **PREPARATION AND FILING OF TAX RETURNS** |
| 3.1 | Medtronic's Responsibility | 13 |
| 3.2 | SplitCo's Responsibility | 13 |
| 3.3 | Right To Review Tax Returns | 13 |
| 3.4 | Cooperation | 14 |
| 3.5 | Tax Reporting Practices | 14 |
| 3.6 | Reporting of the Transactions | 15 |
| 3.7 | Payment of Taxes | 15 |
| 3.8 | Amended Returns and Carrybacks | 15 |
| 3.9 | Tax Attributes | 16 |
| ARTICLE IV | ARTICLE IV | ARTICLE IV |
| **INTENDED TAX TREATMENT OF THE TRANSACTIONS** | **INTENDED TAX TREATMENT OF THE TRANSACTIONS** | **INTENDED TAX TREATMENT OF THE TRANSACTIONS** |
| 4.1 | Representations and Warranties | 17 |
| 4.2 | Certain Restrictions Relating to the Intended Tax Treatment of the Transactions | 18 |
| ARTICLE V | ARTICLE V | ARTICLE V |
| **INDEMNITY OBLIGATIONS** | **INDEMNITY OBLIGATIONS** | **INDEMNITY OBLIGATIONS** |
| 5.1 | Indemnity Obligations | 21 |

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| | | |
|:---|:---|:---|
| 5.2 | Indemnification Payments | 22 |
| 5.3 | Payment Mechanics | 23 |
| 5.4 | Treatment of Tax Indemnity Payments | 23 |
| ARTICLE VI | ARTICLE VI | ARTICLE VI |
| **TAX CONTESTS** | **TAX CONTESTS** | **TAX CONTESTS** |
| 6.1 | Notice | 24 |
| 6.2 | Joint Returns | 24 |
| 6.3 | Separate Returns | 24 |
| 6.4 | Obligation of Continued Notice | 25 |
| 6.5 | Tax Contest Cooperation Rights | 25 |
| ARTICLE VII | ARTICLE VII | ARTICLE VII |
| **COOPERATION** | **COOPERATION** | **COOPERATION** |
| 7.1 | General | 26 |
| ARTICLE VIII | ARTICLE VIII | ARTICLE VIII |
| **RETENTION OF RECORDS; ACCESS** | **RETENTION OF RECORDS; ACCESS** | **RETENTION OF RECORDS; ACCESS** |
| 8.1 | Retention of Records | 27 |
| 8.2 | Access to Tax Records | 27 |
| 8.3 | Preservation of Privilege | 27 |
| ARTICLE IX | ARTICLE IX | ARTICLE IX |
| **DISPUTE RESOLUTION** | **DISPUTE RESOLUTION** | **DISPUTE RESOLUTION** |
| 9.1 | Dispute Resolution | 28 |
| ARTICLE X | ARTICLE X | ARTICLE X |
| **MISCELLANEOUS** | **MISCELLANEOUS** | **MISCELLANEOUS** |
| 10.1 | Survival | 28 |
| 10.2 | Notices | 28 |
| 10.3 | Waiver | 30 |
| 10.4 | Modification or Amendment | 30 |
| 10.5 | No Assignment; Binding Effect | 30 |
| 10.6 | Payment Terms | 31 |

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10.7 Interest on Late Payments 31

10.8 No Set-Off 31

10.9 No Circumvention 31

10.10 Subsidiaries 31

10.11 Third Party Beneficiaries 32

10.12 Titles and Headings 32

10.13 Exhibits and Schedules 32

10.14 Governing Law 32

10.15 Specific Performance 32

10.16 Severability 33

10.17 Construction 33

10.18 Entire Agreement 33

10.19 Counterparts 33

10.20 Confidentiality 33

10.21 WAIVER OF JURY TRIAL 34

10.22 Third-Party Beneficiaries 34

10.23 Separation Agreement 34

10.24 Force Majeure 34

10.25 Tax Matters Agreement Controls 35

**EXHIBIT(S)**

Exhibit A&nbsp;&nbsp;&nbsp;&nbsp;ATB Entities

Exhibit B&nbsp;&nbsp;&nbsp;&nbsp;Intended Tax Treatments

Exhibit C&nbsp;&nbsp;&nbsp;&nbsp;Certain Tax Matters

Exhibit D&nbsp;&nbsp;&nbsp;&nbsp;Certain Non-U.S. Tax Restrictions

**SCHEDULE(S)**

Schedule A &nbsp;&nbsp;&nbsp;&nbsp;Separation Taxes

Schedule B&nbsp;&nbsp;&nbsp;&nbsp;Specified Tax Attribute

iii

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**<u>TAX MATTERS AGREEMENT</u>**

THIS TAX MATTERS AGREEMENT (this "<u>Agreement</u>"), is dated as of March 1, 2026, by and between (i) Medtronic Group Holding, Inc., a Minnesota corporation ("<u>Medtronic</u>") and (ii) Kangaroo US HoldCo 2, Inc., a Delaware corporation (Kangaroo US HoldCo 2, Inc., prior to the SplitCo Merger (as defined below), "SplitCo") (each a "<u>Party</u>" and together, the "<u>Parties</u>"), which on or before the Separation Date shall be merged with and into MiniMed Group, Inc., a Delaware corporation ("<u>SplitCo Parent</u>" whether prior to or following the SplitCo Merger), and, following the SplitCo Merger, ("<u>SplitCo</u>") with SplitCo Parent surviving such merger (the "<u>SplitCo Merger</u>") and continuing as "SplitCo" hereunder. Capitalized terms used in this Agreement and not defined herein shall have the meanings ascribed to such terms in the Separation Agreement, dated as of the date hereof, by and among the Parties (the "<u>Separation</u> <u>Agreement</u>").

**<u>R E C I T A L S</u>**

WHEREAS, Medtronic plc, an Irish public limited company and the ultimate parent company of Medtronic ("<u>Medtronic Parent</u>"), acting through itself and its direct and indirect Subsidiaries, currently conducts the Medtronic Business and the SplitCo Business;

WHEREAS, the board of directors of Medtronic Parent has determined that it is in the best interests of Medtronic Parent and its shareholders to create a new publicly traded company that will operate the SplitCo Business;

WHEREAS, in furtherance of the foregoing, the board of directors of Medtronic Parent has determined that it is desirable and appropriate to effect the transactions constituting the Separation to transfer certain assets and liabilities to SplitCo, a wholly owned Subsidiary of Medtronic Parent, on the terms and conditions set forth in the Separation Agreement;

WHEREAS, to effect the Separation, certain members of the Medtronic Group shall contribute, convey, transfer, assign and deliver to members of the SplitCo Group, and members of the SplitCo Group shall accept and assume from members of the Medtronic Group, all of the right, title and interest of the members of the Medtronic Group in, to and under certain of the Assets and Liabilities relating to the SplitCo Business, in each case on the terms and subject to the conditions of the Separation Agreement;

WHEREAS, following the consummation of the SplitCo Merger, SplitCo Parent will be the successor to Kangaroo US HoldCo 2, Inc. and will continue as "SplitCo" for all purposes of this Agreement, with all of the accompanying rights and obligations;

WHEREAS, the board of directors of Medtronic Parent has determined in connection with the Separation, on the terms contemplated hereby, to cause SplitCo Parent to offer and sell in the Initial Public Offering a number of shares of SplitCo Common Stock constituting no more than 19.9% of the outstanding shares of SplitCo Common Stock;

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WHEREAS, Medtronic Parent will cause SplitCo Parent to implement the Initial Public Offering;

WHEREAS, following the Initial Public Offering, Medtronic Parent intends to transfer at least 80.1% of the shares of SplitCo Common Stock to shareholders of Medtronic Parent by means of a divestment by Medtronic Parent to its shareholders of shares of SplitCo Common Stock, an offer to shareholders of Medtronic Parent to exchange shares of Medtronic Parent Ordinary Shares for shares of SplitCo Common Stock, or any combination thereof (the "<u>Divestment</u>"), it being understood that Medtronic Parent, in its sole discretion (as further described in Section 5.02 of the Separation Agreement), may choose not to implement the Divestment or to effect a disposition of shares of SplitCo Common Stock pursuant to one or more public or private offerings or other similar transactions, or transfer, exchange or otherwise dispose of shares of SplitCo Common Stock in one or more transactions (including in connection with any debt-for-equity exchange or a subsequent divestment or exchange offer of SplitCo Common Stock) (the "<u>Other Disposition</u>") instead of the Divestment;

WHEREAS, for U.S. federal income tax purposes, the Divestment, if effected, is intended to qualify as a transaction that is generally tax-free for U.S. federal income tax purposes under Section 355 of the United States Internal Revenue Code of 1986, as amended (the "<u>Code</u>");

WHEREAS, the Separation Agreement sets forth the principal corporate transactions required to effect the Separation and the Initial Public Offering and describes certain other agreements that will govern certain matters relating to the Separation, the Initial Public Offering and the Divestment or the Other Disposition, as applicable, and the relationship of Medtronic Parent, Medtronic, SplitCo and their respective Subsidiaries following the Separation; and

WHEREAS, the Parties desire to (i) provide for the payment of Tax liabilities and entitlement to refunds thereof, allocate responsibility for, and cooperation in, the filing of Tax Returns and provide for certain other matters relating to Taxes and (ii) set forth certain covenants and indemnities relating to the preservation of the Intended Tax Treatment.

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained in this Agreement, the Parties, intending to be legally bound, hereby agree as follows:

ARTICLE I

**<u>DEFINITIONS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Definitions</u>. As used in this Agreement, the following terms shall have the meanings set forth below:

"<u>Accounting Firm</u>" has the meaning set forth in <u>Section 9.1</u>.

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"<u>Adjustment</u>" means an adjustment of any item of income, gain, loss, deduction, credit or any other item affecting Taxes of a taxpayer pursuant to a Final Determination.

"<u>Agreement</u>" has the meaning set forth in the preamble.

"<u>ATB Entities</u>" means the entities listed on <u>Exhibit A</u>.

"<u>Code</u>" has the meaning set forth in the Recitals to this Agreement.

"<u>Controlling Party</u>" means, with respect to a Tax Contest, the Party entitled to control such Tax Contest pursuant to <u>Sections 6.2</u> and <u>6.3</u>.

"<u>Divestment</u>" has the meaning set forth in the Recitals to this Agreement.

"<u>Divestment Date</u>" means the date of the Divestment or if no Divestment has occurred, the date that Medtronic Parent ceases to control (as defined in the definition of "Affiliate" in the Separation Agreement) SplitCo.

"<u>Final Determination</u>" means the final resolution of liability for any Tax for any taxable period, by or as a result of (i) a final decision, judgment, decree or other order by any court of competent jurisdiction that can no longer be appealed, (ii) a final settlement with the IRS, a closing agreement or accepted offer in compromise under Section 7121 or 7122 of the Code or a comparable agreement under the Laws of a state, local or non-U.S. taxing jurisdiction, which resolves the entire Tax liability for any taxable period, (iii) any allowance of a refund or credit in respect of an overpayment of Tax, but only after the expiration of all periods during which such refund or credit may be recovered (including by way of withholding or offset) by the jurisdiction imposing the Tax or (iv) any other final resolution, including by reason of the expiration of the applicable statute of limitations or the execution of a pre-filing agreement with the IRS or other Taxing Authority.

"<u>Force Majeure Event</u>" has the meaning set forth in <u>Section 10.24</u>.

"<u>Group</u>" means either the Medtronic Group or the SplitCo Group, as the context requires.

"<u>Indemnifying Party</u>" has the meaning set forth in <u>Section 5.2</u>.

"<u>Indemnitee</u>" has the meaning set forth in <u>Section 5.2</u>.

"<u>Intended Tax Treatment</u>" means (i) the qualification of the Divestment as a transaction in which the SplitCo Common Stock distributed to holders of Medtronic Parent Ordinary Shares is "qualified property" for purposes of Sections 355(c) of the Code, (ii) the nonrecognition of income, gain or loss by Medtronic Parent, SplitCo and holders of Medtronic Parent Ordinary Shares on the divestment and receipt of the SplitCo Common Stock in the Divestment under Sections 355 and 1032 of the Code (except with respect to any cash received by such holders in lieu of fractional SplitCo Common Stock), (iii) the qualification of each Internal Divestment as a tax-free transaction under Section 355 and/or Section 368(a)(1)(D) of the Code, (iv) the qualification of the SplitCo Merger as a reorganization under Section 368(a) of the Code, and (v)

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the qualification of each of the transactions described on <u>Exhibit B</u> as being free from Tax to the extent set forth therein.

"<u>Internal Distribution</u>" means any transaction (or series of transactions) effected as part of the Transactions (excluding the Divestment) that is intended to qualify as a tax-free transaction under Section 355 and/or Section 368(a)(1)(D) of the Code, as described in the Tax Materials.

"<u>IPO Effective Date</u>" means the date of the closing of the Initial Public Offering.

"<u>IRS</u>" means the U.S. Internal Revenue Service or any successor agency, including, but not limited to, its agents, representatives and attorneys.

"<u>Joint Return</u>" means any Tax Return that includes, by election or otherwise, one or more members of the Medtronic Group and one or more members of the SplitCo Group.

"<u>Medtronic</u>" has the meaning set forth in the preamble.

"<u>Medtronic International</u>" means Medtronic International Trading S.a r.l., a *société à responsabilité limitée* organized under the laws of Switzerland and a member of the Medtronic Group.

"<u>Medtronic Parent</u>" has the meaning set forth in the preamble.

"<u>Medtronic Separate Return</u>" means any Tax Return of or including any member of the Medtronic Group (including any consolidated, combined or unitary return) that does not include any member of the SplitCo Group.

"<u>Medtronic Distribution</u>" means the distribution by Medtronic of all of the stock of SplitCo Parent to its sole shareholder.

"<u>Non-Controlling Party</u>" means, with respect to a Tax Contest, the Party that is not the Controlling Party with respect to such Tax Contest.

"<u>Parties</u>" has the meaning set forth in the preamble.

"<u>Past Practices</u>" has the meaning set forth in <u>Section 3.5</u>.

"<u>Post-IPO Period</u>" means any taxable period (or portion thereof) beginning after the IPO Effective Date, including the portion of any Straddle Period beginning after the IPO Effective Date.

"<u>Pre-IPO Period</u>" means any taxable period (or portion thereof) ending on or before the IPO Effective Date, including the portion of any Straddle Period ending at the end of the day on the IPO Effective Date.

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"<u>Preparing Party</u>" means, with respect to a Tax Return, the Party that is required to prepare and file any such Tax Return pursuant to <u>Section 3.1</u> or <u>Section 3.2</u>, as applicable.

"<u>Proposed Acquisition Transaction</u>" means a transaction or series of transactions (or any agreement, understanding or arrangement, within the meaning of Section 355(e) of the Code and Treasury Regulations Section 1.355-7, or any other Treasury Regulations promulgated thereunder, to enter into a transaction or series of transactions), whether such transaction is supported by SplitCo management or shareholders, is a hostile acquisition or otherwise, as a result of which SplitCo (or any successor thereto) would merge or consolidate with any other Person or as a result of which one or more Persons would (directly or indirectly) acquire, or have the right to acquire, from SplitCo (or any successor thereto) and/or one or more holders of SplitCo Capital Stock, respectively, any amount of SplitCo Capital Stock, that would, when combined with any other direct or indirect changes in ownership of SplitCo Capital Stock pertinent for purposes of Section 355(e) of the Code and the Treasury Regulations promulgated thereunder, comprise thirty-five percent (35%) or more of (i) the value of all outstanding shares of stock of SplitCo as of immediately after such transaction or in the case of a series of transactions, immediately after the last transaction of such series or (ii) the total combined voting power of all outstanding shares of voting stock of SplitCo as of immediately after such transaction or in the case of a series of transactions, immediately after the last transaction of such series. Notwithstanding the foregoing, a Proposed Acquisition Transaction shall not include (i) the adoption by SplitCo of a shareholder rights plan or (ii) issuances by SplitCo that satisfy Safe Harbor VIII (relating to acquisitions in connection with a person's performance of services) or Safe Harbor IX (relating to acquisitions by a retirement plan of an employer) of Treasury Regulations Section 1.355-7(d). For purposes of determining whether a transaction constitutes an indirect acquisition, any recapitalization resulting in a shift of voting power or any redemption of shares of stock shall be treated as an indirect acquisition of shares of stock by the non-exchanging shareholders. This definition and the application thereof are intended to monitor compliance with Section 355(e) of the Code and the Treasury Regulations promulgated thereunder and shall be interpreted accordingly. Any clarification of, or change in, the statute or Treasury Regulations promulgated under Section 355(e) of the Code shall be incorporated in this definition and its interpretation.

"<u>PRDT</u>" means the Puerto Rico Department of the Treasury (*Departamento de Hacienda de Puerto Rico*) or any successor agency, including, but not limited to, its agents, representatives and attorneys.

"<u>PRDT Ruling</u>" shall mean the Tax ruling Medtronic, or one of its Subsidiaries, has obtained from the PRDT dated September 8, 2025, as amended from time to time, covering Puerto Rican corporate income and sales and use tax consequences in relation to the Transactions.

"<u>PRDT Ruling Request</u>" shall mean the letter filed by Medtronic, or one of its Subsidiaries, with the PRDT dated March 26, 2025, and any subsequent requests to amend the PRDT Ruling from time to time, requesting a ruling regarding certain Puerto Rican corporate

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income and sales and use tax consequences of the Transactions, together with any supplements or amendments thereto.

"<u>Reasonable Basis</u>" means a reasonable basis within the meaning of Section 6662(d)(2)(B)(ii)(II) of the Code and the Treasury Regulations promulgated thereunder (or such other level of confidence required by the Code or other applicable Tax Law at that time to avoid the imposition of penalties).

"<u>Refund</u>" means any refund, reimbursement, offset, credit or other similar benefit in respect of Taxes (including any overpayment of Taxes that can be refunded or, alternatively, applied against other Taxes payable), including any interest paid on or with respect to such refund of Taxes.

"<u>Responsible Party</u>" means, with respect to any Tax Return, the Party having responsibility for preparing and filing such Tax Return pursuant to this Agreement.

"<u>Restricted Period</u>" means the period which begins with the date hereof and ends two (2) years after the Divestment Date.

"<u>Reviewing Party</u>" means, with respect to a Tax Return, the Party that is not the Preparing Party.

"<u>Ruling</u>" shall mean (i) the PRDT Ruling and (ii) any other ruling issued by a Taxing Authority in connection with the Transactions.

"<u>Ruling Request</u>" shall mean (i) the PRDT Ruling Request and (ii) any other ruling request submitted to a Taxing Authority, including the exhibits attached thereto and all related amendments or supplements.

"<u>Section 336(e) Election</u>" has the meaning set forth in <u>Section 3.6</u>.

"<u>Separate Return</u>" means a Medtronic Separate Return or a SplitCo Separate Return, as the case may be.

"<u>Separation</u>" has the meaning set forth in the Separation Agreement.

"<u>Separation Agreement</u>" has the meaning set forth in the preamble.

"<u>Separation Taxes</u>" shall mean those Taxes listed on Schedule A, in each case, without regard to (x) the amounts shown on Schedule A and (y) whether such Taxes arose, resulted or were incurred, or were paid or otherwise satisfied, prior to, on, or after the Divestment Date, arising as a result of the Transactions (as determined by Medtronic in its discretion), except for (i) any Tax resulting from a breach by any Party of any covenant in this Agreement and (ii) any Tax attributable to any action set out in <u>Section 4.2</u>.

"<u>Specified Tax Attribute</u>" has the meaning set forth in Schedule B.

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"<u>SplitCo</u>" has the meaning set forth in the preamble.

"<u>SplitCo Capital Stock</u>" means all classes or series of capital stock of SplitCo, including (i) SplitCo Common Stock, (ii) all options, warrants and other rights to acquire such capital stock and (iii) all other instruments properly treated as stock of SplitCo for U.S. federal income tax purposes.

"<u>SplitCo Disqualifying Action</u>" means (i) any action (or failure to take any action) by any member of the SplitCo Group (including entering into any agreement, understanding, arrangement or negotiations with respect to any transaction or series of transactions), (ii) any event (or series of events) after the Divestment involving SplitCo Capital Stock or the assets of any member of the SplitCo Group or (iii) any breach by any member of the SplitCo Group of any representation, warranty or covenant made by them in this Agreement, that, in each case, would adversely affect or could reasonably be expected to adversely affect the Intended Tax Treatment; <u>provided</u>, <u>however</u>, that the term "SplitCo Disqualifying Action" shall not include any action entered into pursuant to any Ancillary Agreement (other than this Agreement) or that is undertaken pursuant to the Separation or the Divestment.

"<u>SplitCo Merger</u>" has the meaning set forth in the Recitals.

"<u>SplitCo Separate Return</u>" means any Tax Return of or including any member of the SplitCo Group (including any consolidated, combined or unitary return) that does not include any member of the Medtronic Group.

"<u>SplitCo Switzerland NewCo</u>" means MiniMed International Trading S.a r.l., a société à responsabilité limitée organized under the laws of Switzerland and a member of the SplitCo Group.

"<u>SplitCo Trade or Business</u>" means the business conducted by each of the ATB Entities (or an entity disregarded as separate from such ATB Entities for U.S. federal income tax purposes) as of the applicable Divestment Date as listed on <u>Exhibit A</u>.

"<u>Straddle Period</u>" means any taxable period that begins on or before, and ends after, the IPO Effective Date.

"<u>Swiss Demerger</u>" means the transfer of certain business assets by way of equity contribution by Medtronic International into SplitCo Switzerland NewCo and the subsequent distribution of SplitCo Switzerland NewCo to Medtronic Holding Switzerland GmbH.

"<u>Swiss Distribution Date</u>" means the date of the distribution by Medtronic International of all of the equity interests in SplitCo Switzerland NewCo to Medtronic Holding Switzerland GmbH.

"<u>Tax</u>" or "<u>Taxes</u>" means (i) all taxes, charges, fees, duties, levies, imposts, rates or other assessments or governmental charges of any kind imposed by any U.S. federal, state, local or non-U.S. governmental entity or political subdivision thereof, including, without limitation,

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income, gross receipts, employment, estimated, excise, severance, stamp, occupation, premium, windfall profits, environmental, custom duties, property, sales, use, license, capital stock, transfer, franchise, registration, payroll, withholding, social security, unemployment, disability, value added, alternative or add-on minimum or other taxes or contributions, whether disputed or not, and including any interest, penalties, charges or additions attributable thereto, (ii) liability for the payment of any amount of the type described in clause (i) above arising as a result of being (or having been) a member of any consolidated, combined, unitary or similar group or being (or having been) included or required to be included in any Tax Return related thereto and (iii) liability for the payment of any amount of the type described in clauses (i) or (ii) above as a result of any express or implied obligation to indemnify or otherwise assume or succeed to the liability of any other Person, whether by contract, by operation of Law or otherwise.

"<u>Tax Advisor</u>" means a tax counsel or accountant of recognized national standing.

"<u>Tax Attribute</u>" means for U.S. federal, state, local and non-U.S. income Tax purposes, net operating losses, capital losses, research and experimentation credit carryovers, investment tax credit carryovers, earnings and profits, foreign tax credit carryovers, overall non-U.S. losses, overall domestic losses, previously taxed earnings and profits, separate limitation losses, all other items that are determined or computed on an affiliated group basis (as defined in Section 1504(a) of the Code determined without regard to the exclusion contained in Section 1504(b)(3) of the Code) and similar Tax items determined under applicable Tax Law and any other losses, deductions, credits or other comparable items that could affect a Tax liability for a past or future taxable period.

"<u>Tax Certificates</u>" means any officer's or representative's certificates, representation letters or similar documents provided by Medtronic Parent or SplitCo to (i) Skadden, Arps, Slate, Meagher & Flom LLP or a nationally recognized accounting firm or (ii) any reputable non-U.S. law firms in connection with the Tax Opinions delivered or deliverable to Medtronic Parent in connection with the Transactions.

"<u>Tax Contest</u>" has the meaning set forth in <u>Section 6.1</u>.

"<u>Tax Item</u>" means any item of income, gain, loss, deduction or credit or any other item which increases or decreases Taxes paid or payable in any taxable period.

"<u>Tax Law</u>" means the Law of any governmental entity or political subdivision thereof relating to any Tax.

"<u>Tax Materials</u>" has the meaning set forth in <u>Section 4.1(a)</u>.

"<u>Tax Opinions</u>" means the (i) written opinions delivered or deliverable to Medtronic Parent by Skadden, Arps, Slate, Meagher & Flom LLP and a nationally recognized accounting firm and (ii) any other written opinion or memorandum delivered or deliverable to Medtronic Parent by reputable non-U.S. law firms regarding the tax consequences of the Transactions.

"<u>Tax Records</u>" has the meaning set forth in <u>Section 8.1</u>.

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"<u>Tax-Related Losses</u>" means, with respect to any Taxes, (i) all reasonable accounting, legal and other professional fees and court costs incurred in connection with such Taxes, as well as any other reasonable out-of-pocket costs incurred in connection with such Taxes and (ii) all costs, expenses and damages associated with stockholder litigation or controversies and any amounts paid by Medtronic (or any of its Affiliates) or SplitCo (or any of its Affiliates) in respect of the liability of shareholders, whether paid to shareholders or to the IRS or any other Taxing Authority.

"<u>Tax Return</u>" means any return, report, certificate, form or similar statement or document (including any related supporting information or schedule attached thereto and any information return, amended tax return, claim for refund or declaration of estimated tax) supplied to or filed with, or required to be supplied to or filed with, a Taxing Authority, or any bill for or notice related to ad valorem or other similar Taxes received from a Taxing Authority, in each case, in connection with the determination, assessment or collection of any Tax or the administration of any Laws, regulations or administrative requirements relating to any Tax.

"<u>Taxing Authority</u>" means any governmental authority or any subdivision, agency, commission or entity thereof having jurisdiction over the assessment, determination, collection or imposition of any Tax (including the IRS).

"<u>Transactions</u>" means the Separation, the Divestment, any other transaction described in the Step Plan and any related transactions.

"<u>Treasury Regulations</u>" means the regulations promulgated from time to time under the Code as in effect for the relevant taxable period.

"<u>Unanticipated Separation Taxes</u>" shall mean all Taxes imposed on or with respect to the Transactions, in each case where such Tax is not a Separation Tax (as determined by Medtronic in its discretion), except for (i) any Tax resulting from a breach by any Party of any covenant in this Agreement and (ii) any Tax attributable to any action set out in <u>Section 4.2</u>.

"<u>Unqualified Tax Opinion</u>" means an unqualified "will" opinion of a Tax Advisor, which Tax Advisor is acceptable to Medtronic Parent and Medtronic and on which Medtronic Parent and Medtronic may rely to the effect that a transaction will not affect the Intended Tax Treatment. Any such opinion must assume that the Transactions would have qualified for Intended Tax Treatment if the transaction in question did not occur.

"<u>VAT</u>" means: (i) any Tax imposed in compliance with the Council Directive of 28 November 2006 on the common system of value added tax (EC Directive 2006/112), including in the United Kingdom in accordance with VATA 1994; (ii) any type of goods and services Tax; (iii) any type of consumption Tax; and (iv) any other Tax of a similar nature, whether imposed in substitution for, or levied in addition to, such tax referred to in clauses (i)-(iii).

"<u>VAT Credit</u>" means any credit, offset or receivable arising out of a payment of VAT where liability for such VAT is allocated to the Medtronic under this Agreement.

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ARTICLE II

**<u>PAYMENTS AND TAX REFUNDS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Allocation of Tax Liabilities</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in this Agreement, Medtronic shall be responsible for and shall pay or cause to be paid the following Taxes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;any and all Taxes due with respect to or required to be reported on any Joint Return (including any increase in such Tax as a result of a Final Determination) for all Pre-IPO Periods;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any and all Taxes due with respect to or required to be reported on any Joint Return (including any increase in such Tax as a result of a Final Determination) for all Post-IPO Periods, other than those Taxes described in <u>Section 2.1(b)(i)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;any and all Taxes due with respect to or required to be reported on any Medtronic Separate Return (including any increase in such Tax as a result of a Final Determination) for all taxable periods;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;any and all Separation Taxes; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;50% of any and all Unanticipated Separation Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in this Agreement, SplitCo shall be responsible for and shall pay or cause to be paid the following Taxes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;any and all Taxes due with respect to or required to be reported on any Joint Return (including any increase in such Tax as a result of a Final Determination) for all Post-IPO Periods that are attributable to the SplitCo Business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;any and all Taxes due with respect to or required to be reported on any SplitCo Separate Return (including any increase in such Tax as a result of a Final Determination) for all taxable periods; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;50% of any and all Unanticipated Separation Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>EMA Taxes</u>. The provisions of Sections 7.07, 7.08, 7.09, 9.01(d), 11.01, 11.05, and 12.12 of the EMA shall govern with respect to the responsibility for applicable Taxes, allocation of deductions relating to Taxes, and Tax reporting obligations described therein. Allocations of Taxes and obligations relating to Taxes not described in such sections of the EMA shall be governed and allocated in accordance with this Agreement (including <u>Section 2.1</u>).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Refunds.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Medtronic shall be entitled to all Refunds related to Taxes the liability for which is allocated to Medtronic pursuant to this Agreement. SplitCo shall be entitled to all Refunds related to Taxes the liability for which is allocated to SplitCo pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in this Agreement, Medtronic shall be entitled to all Refunds related to matters set forth in Exhibit C, and Medtronic shall (i) retain sole control over any proceedings, submissions and correspondence with relevant Taxing Authorities relating to such matters and (ii) retain the sole and exclusive right to amend or cause to be amended (including by members of the SplitCo Group) Tax Returns in connection with, or as a result of matters set forth in Exhibit C (or the outcomes thereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo shall pay to Medtronic any Refund received by SplitCo or any member of the SplitCo Group that is allocable to Medtronic pursuant to this <u>Section 2.3</u> no later than thirty (30) days after the receipt of such Refund. Medtronic shall pay to SplitCo any Refund received by Medtronic or any member of the Medtronic Group that is allocable to SplitCo pursuant to this <u>Section 2.3</u> no later than thirty (30) days after the receipt of such Refund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo shall cooperate in good faith with any reasonable request by Medtronic to pursue any Refund to which Medtronic may be entitled under this <u>Section 2.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this <u>Section 2.3</u>, any Refund that arises as a result of an offset, credit or other similar benefit in respect of Taxes other than a receipt of cash shall be deemed to be received on the earlier of (i) the date on which a Tax Return is filed claiming such offset, credit or other similar benefit and (ii) the date on which payment of the Tax which would have otherwise been paid absent such offset, credit or other similar benefit is due (determined without taking into account any applicable extensions). To the extent that the amount of any Refund in respect of which a payment was made under this <u>Section 2.3</u> is later reduced by a Taxing Authority or in a Tax Contest, such reduction shall be allocated to the Party to which such Refund was allocated pursuant to this <u>Section 2.3</u> and an appropriate adjusting payment shall be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Benefits</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If Medtronic determines, in its good faith discretion, that (i) one Party is responsible for a Tax pursuant to this Agreement or under applicable Law and (ii) the other Party is entitled to a deduction, credit or other Tax benefit (including an increase in Tax basis) in respect of such Tax, then the Party entitled to such deduction, credit or other Tax benefit shall pay to the Party responsible for such Tax the amount of the Tax benefit actually realized in cash arising from such deduction, credit or other Tax benefit, no later than thirty (30) days after such Tax benefit is realized. To the extent that the amount of any Tax benefit in respect of which a payment was made under this <u>Section 2.4</u> is later reduced by a Taxing Authority or in a Tax Contest, the Party that received such payment shall reimburse such payment to the Party that made such payment to the extent of such reduction.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In the event that a member of the SplitCo Group realizes, in a Post-IPO Period, (i) a Specified Tax Attribute or (ii) a deduction, credit or other Tax benefit arising from a VAT Credit, then in the case of clause (i), SplitCo shall make a payment to Medtronic in an amount equal to the actual cash Tax savings attributable to such Specified Tax Attribute, as determined on a with and without basis, no later than ninety (90) days following the end of the taxable year in which SplitCo realizes such cash Tax savings from such Specified Tax Attribute for Tax purposes, and in the case of clause (ii), such deduction, credit or other Tax benefit (net of any reasonable out-of-pocket expenses incurred in obtaining such deduction, credit or other Tax benefit) no later than thirty (30) days after such deduction, credit or other Tax benefit is received or otherwise realized for Tax purposes; <u>provided</u>, that, to the extent that the SplitCo Group has not realized (determined on a with and without basis) an actual cash Tax savings attributable to a Specified Tax Attribute as of the end of the second taxable year of SplitCo to end after the Separation Date, SplitCo shall make a payment to Medtronic no later than ninety (90) days following the end of such second taxable year in an amount equal to the product of such Specified Tax Attribute that has not resulted in an actual cash Tax savings, multiplied by the highest marginal U.S. federal and applicable state income Tax rates of the relevant SplitCo Group member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Prior Agreements</u>. Except as set forth in this Agreement and in consideration of the mutual indemnities and other obligations of this Agreement, any and all prior Tax sharing or allocation agreements or practices between any member of the Medtronic Group and any member of the SplitCo Group shall be terminated with respect to the Medtronic Group and the SplitCo Group as of the IPO Effective Date. No member of the SplitCo Group or the Medtronic Group shall have any continuing rights or obligations to any member of the other Group under any such agreement, and this Agreement shall be the sole Tax sharing agreement between the members of the Medtronic Group, on the one hand, and the members of the SplitCo Group, on the other hand. Each Party shall, after the Divestment, at the reasonable request of the other Party, take, or cause to be taken, such other actions as may be necessary to effect the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Determination of Taxes Attributable to the SplitCo Business</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;For purposes of <u>Section 2.1(b)(i)</u>, the amount of Taxes attributable to the SplitCo Business shall be reasonably determined by Medtronic on a pro forma Joint Return prepared:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;including only Tax Items of members of the SplitCo Group that were included in the relevant Joint Return; <u>provided</u>, <u>however</u>, that no carryforward of (A) any losses, (B) other deductible Tax Items or (C) Tax Attributes, in each case, shall be treated as attributable to the SplitCo Business for these purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;except as provided in <u>Section 2.6(a)(iv)</u> hereof, using all elections, accounting methods and conventions used on the relevant Joint Tax Return for such taxable period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;applying the highest statutory marginal applicable Tax rate in effect for such taxable period; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;assuming that the SplitCo Group elects not to carry back any Tax Item or other Tax Attributes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The amount of Taxes attributable to the SplitCo Business with respect to any Joint Return for any taxable period shall not be less than zero.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo shall reimburse Medtronic for all reasonable costs and expenses paid or incurred by the Medtronic Group in connection with determining the amount of Taxes attributable to the SplitCo Business with respect to any Joint Return.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;To the extent other assumptions and/or determinations are required to be made in connection with the determination of the Taxes attributable to the SplitCo Business, Medtronic shall make all such assumptions and/or determinations in good faith and otherwise in a manner consistent with the principles of this <u>Section 2.6</u>.

ARTICLE III

**<u>PREPARATION AND FILING OF TAX RETURNS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Medtronic's Responsibility</u>. Medtronic shall prepare and file, or shall cause to be prepared and filed, when due (taking into account any applicable extensions) (a) all Joint Returns and (b) all Tax Returns required to be filed by any member of the Medtronic Group under applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>SplitCo's Responsibility</u>. SplitCo shall prepare and file, or shall cause to be prepared and filed, when due (taking into account any applicable extensions) all Tax Returns required to be filed by any member of the SplitCo Group under applicable Law other than those Tax Returns which Medtronic is required to prepare and file under <u>Section 3.1</u>, including any amended Tax Returns. SplitCo shall prepare any transfer pricing documentation required to be prepared with respect to a Tax Return required to be prepared and filed under this <u>Section 3.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Right To Review Tax Returns</u>. To the extent that the positions taken on any Tax Return (i) directly relate to matters for which the Reviewing Party may have an indemnification obligation to the Preparing Party, or that may give rise to a refund to which the Reviewing Party would be entitled under this Agreement or (ii) would reasonably be expected to materially affect the Tax position of the Reviewing Party, the Preparing Party (at its own cost and expense) shall provide a draft of such Tax Return (or the relevant portion thereof) to the Reviewing Party for its review and comment at least thirty (30) days prior to the due date for such Tax Return (taking into account any applicable extensions), and shall use commercially reasonable efforts to modify such Tax Return before filing to include the Reviewing Party's reasonable comments; <u>provided</u>, <u>however</u>, that nothing herein shall prevent the Preparing Party from timely filing any such Tax Return. The Parties shall attempt in good faith to resolve any issues arising out of the review of any such portion of a Tax Return. SplitCo shall provide to Medtronic any transfer pricing documentation required to be prepared with respect to a Tax Return for any taxable period that begins on or before the second (2<sup>nd</sup>) anniversary of the Divestment Date with respect to which SplitCo is the Preparing Party at least thirty (30) days prior to the finalization of such transfer

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pricing documentation, and Medtronic shall be entitled to review and provide comments on such transfer pricing documentation (which documentation shall include, for the avoidance of doubt, the transfer pricing master file of SplitCo). SplitCo shall modify such transfer pricing documentation prior to its finalization to include all reasonable comments of Medtronic.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Cooperation</u>. The Parties shall provide, and shall cause their Affiliates to provide, assistance and cooperation to one another in accordance with <u>Article VII</u> with respect to the preparation and filing of Tax Returns, including providing information required to be provided under <u>Article VIII</u>. Notwithstanding anything to the contrary in this Agreement, Medtronic shall not be required to disclose to SplitCo any consolidated, combined, unitary or other similar Joint Return of which a member of the Medtronic Group is the common parent or any information related to such a Joint Return other than information relating solely to the SplitCo Group; <u>provided</u>, <u>however</u>, that Medtronic shall provide to SplitCo the transfer pricing master file of Medtronic and its Subsidiaries for any taxable year ending prior to or on the IPO Effective Date. If an amended Separate Return that SplitCo is responsible for filing under this <u>Article III</u> is required to be filed as a result of an amendment made to a Joint Return pursuant to an audit adjustment, the Parties shall cooperate to ensure that such amended Separate Return can be prepared and filed in a manner that preserves confidential information including through the use of third-party preparers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Reporting Practices</u>. Except as provided in <u>Section 3.6</u> or pursuant to a Final Determination, with respect to any Tax Return for any taxable period that begins on or before the second (2<sup>nd</sup>) anniversary of the Divestment Date with respect to which SplitCo is the Responsible Party, such Tax Return shall be prepared in a manner (a) consistent with past practices, accounting methods and any similar standards, elections and conventions, including with respect to transfer pricing, used with respect to the Tax Returns in question ("<u>Past Practices</u>") (unless there is no Reasonable Basis for the use of such Past Practices) and to the extent any items are not covered by Past Practices (or in the event that there is no Reasonable Basis for the use of such Past Practices), in accordance with reasonable Tax accounting practices selected by SplitCo and (b) that, to the extent consistent with clause (a), minimizes the overall amount of Taxes due and payable on such Tax Return for all of the Parties by cooperating in making such elections or applications for group or other relief or allowances available in the taxing jurisdiction in which such Tax Return is filed. SplitCo shall not take any action inconsistent with the assumptions made (including with respect to any Tax Attribute or other Tax Item) in determining all estimated or advance payments of Taxes on or prior to the Divestment Date. SplitCo (i) shall not be permitted, and shall not permit any member of the SplitCo Group, without Medtronic's prior written consent, to make a change in any of its methods of accounting for Tax purposes for any taxable period that begins on or before the second (2<sup>nd</sup>) anniversary of the Divestment Date (unless there is no Reasonable Basis for not making such change) and (ii) shall notify Medtronic of, and consider in good faith any reasonable comments provided by Medtronic regarding, any such change in method of accounting for any taxable period that begins after the second (2<sup>nd</sup>) anniversary of the Divestment Date and on or before the fifth (5<sup>th</sup>) anniversary of the Divestment Date. Such notification and consideration described in clause (ii) of the preceding sentence shall occur prior to the making of any such change in method of accounting.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Reporting of the Transactions</u>. Unless and until there has been a Final Determination to the contrary, each Party agrees not to, and shall ensure each member of its respective Group agrees not to and does not, take any position on any Tax Return, in connection with any Tax Contest, or otherwise that is inconsistent with (i) the Tax Materials, (ii) the Intended Tax Treatment or (iii) the treatment of payments between the Medtronic Group and the SplitCo Group as set forth in <u>Section 5.4</u>. If Medtronic determines, in its sole and absolute discretion, that a protective election under Section 336(e) of the Code should be made with respect to the Divestment with respect to SplitCo and any other members of the SplitCo Group that are a domestic corporation for U.S. federal income tax purposes (a "<u>Section 336(e) Election</u>"), SplitCo agrees to take any such action that is necessary to effect such Section 336(e) Election, including any corresponding Section 336(e) Elections with respect to any of its Subsidiaries, as determined by Medtronic in its sole and absolute discretion. If such Section 336(e) Election is made, this Agreement shall be amended in such a manner as is determined by Medtronic in its good faith discretion to compensate Medtronic for any tax benefits realized by SplitCo as a result of such Section 336(e) Election. To the extent a Section 336(e) Election becomes effective, each Party agrees not to take any position (and to cause each of its Affiliates not to take any position) that is inconsistent with the Section 336(e) Election on any Tax Return, in connection with any Tax Contest or otherwise, except as may be required by a Final Determination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment of Taxes</u>. With respect to any Tax Return required to be filed pursuant to this Agreement, the Responsible Party shall remit or cause to be remitted to the applicable Taxing Authority in a timely manner any Taxes due in respect of any such Tax Return. In the case of any Tax Return for which the Party that is not the Responsible Party is obligated pursuant to this Agreement to pay all or a portion of the Taxes reported as due on such Tax Return, the Responsible Party shall notify the other Party, in writing, of its obligation to pay such Taxes and, in reasonably sufficient detail, its calculation of the amount due by such other Party, and the Party receiving such notice shall pay such amount to the Responsible Party upon the later of ten (10) days prior to the date on which such payment is due and thirty (30) days after the receipt of such notice. With respect to any estimated Taxes, the Party that is or will be the Responsible Party with respect to any Tax Return that will reflect (or otherwise give credit for) such estimated Taxes shall remit or cause to be remitted to the applicable Taxing Authority in a timely manner any estimated Taxes due. In the case of any estimated Taxes for which the Party that is not the Responsible Party is obligated pursuant to this Agreement to pay all or a portion of the Taxes that will be reported as due on any Tax Return that will reflect (or otherwise give credit for) such estimated Taxes, the Responsible Party shall notify the other Party, in writing, of its obligation to pay such estimated Taxes and, in reasonably sufficient detail, its calculation of the amount due by such other Party, and the Party receiving such notice shall pay such amount to the Responsible Party upon the later of ten (10) days prior to the date on which such payment is due and thirty (30) days after the receipt of such notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Amended Returns and Carrybacks</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo shall not, and shall not permit any member of the SplitCo Group to, file or allow to be filed any request for an Adjustment for any Pre-IPO Period, including any

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Straddle Period ending at the end of the day on the IPO Effective Date, without the prior written consent of Medtronic, such consent to be exercised in Medtronic's sole and absolute discretion, to the extent that any such request for Adjustment (i) directly relates to matters for which Medtronic may have an indemnification obligation to SplitCo or that may give rise to a refund to which Medtronic would be entitled under this Agreement or (ii) would reasonably be expected to materially affect the Tax position of Medtronic.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Medtronic shall not, and shall not permit any member of the Medtronic Group to, file or allow to be filed any request for an Adjustment for any Pre-IPO Period without the prior written consent of SplitCo, such consent to be exercised in SplitCo's sole and absolute discretion, to the extent that any such request for Adjustment (i) directly relates to matters for which the SplitCo may have an indemnification obligation to Medtronic or that may give rise to a refund to which SplitCo would be entitled under this Agreement or (ii) would reasonably be expected to materially affect the Tax position of SplitCo.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo shall, and shall cause each member of the SplitCo Group to, make any available elections to waive the right to carry back any Tax Attribute from a Post-IPO Period to a Pre-IPO Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo shall not, and shall cause each member of the SplitCo Group not to, without the prior written consent of Medtronic, make any affirmative election to carry back any Tax Attribute from a Post-IPO Period to a Pre-IPO Period, such consent to be exercised in Medtronic's sole and absolute discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Receipt of consent by SplitCo or a member of the SplitCo Group from Medtronic pursuant to the provisions of this <u>Section 3.8</u> shall not limit or modify SplitCo's continuing indemnity obligations pursuant to <u>Article V</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Attributes</u>. Upon written request by SplitCo, Medtronic shall use commercially reasonable efforts to advise SplitCo in good faith in writing of the amount (if any) of any Tax Attributes which Medtronic determines, in its sole and absolute discretion, shall be allocated or apportioned to any member of the SplitCo Group under applicable Tax Law. SplitCo and all members of the SplitCo Group shall prepare all Tax Returns in accordance with such written notice. SplitCo agrees that it shall not dispute any determination of Tax Attributes made by Medtronic pursuant to this <u>Section 3.9</u>. Nothing in this Agreement shall require Medtronic to create or cause to be created any books and records or reports or other documents based thereon (including, without limitation, any "E&P studies," "basis studies" or similar determinations) that it does not maintain or prepare in its ordinary course of business. The Parties agree that (i) Medtronic is not providing a representation, warrantee or guarantee regarding the amount of any Tax Attribute pursuant to this <u>Section 3.9</u> and (ii) Medtronic shall not be liable to any member of the SplitCo Group for any failure of any determination under this <u>Section 3.9</u> to be accurate under applicable Law.

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ARTICLE IV

**<u>INTENDED TAX TREATMENT OF THE TRANSACTIONS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Medtronic, on behalf of itself and all other members of the Medtronic Group, hereby represents and warrants that (i) it has examined the Rulings, the Ruling Requests, the Tax Opinions, the Tax Certificates, the Step Plan and any other materials delivered or deliverable in connection with the issuance of the Rulings and the rendering of the Tax Opinions, in each case, as they exist as of the Divestment Date (collectively, the "<u>Tax Materials</u>") and (ii) the facts presented and representations made therein, to the extent descriptive of or otherwise relating to Medtronic or any member of the Medtronic Group or the Medtronic Business, were or will be, at the time presented or represented and from such time until and including the Divestment Date, true, correct and complete in all material respects. Medtronic, on behalf of itself and all other members of the Medtronic Group, hereby confirms and agrees to comply with any and all covenants and agreements in the Tax Materials applicable to Medtronic, any member of the Medtronic Group or the Medtronic Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo, on behalf of itself and all other members of the SplitCo Group, hereby represents and warrants that (i) it has examined the Tax Materials and (ii) the facts presented and representations made therein, to the extent descriptive of or otherwise relating to SplitCo or any member of the SplitCo Group or the SplitCo Business, were or will be, at the time presented or represented and from such time until and including the Divestment Date, true, correct and complete in all material respects. SplitCo, on behalf of itself and all other members of the SplitCo Group, hereby confirms and agrees to comply with any and all covenants and agreements in the Tax Materials applicable to SplitCo, any member of the SplitCo Group or the SplitCo Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Each of Medtronic, on behalf of itself and all other members of the Medtronic Group, and SplitCo, on behalf of itself and all other members of the SplitCo Group, represents and warrants that it knows of no fact or circumstance (after due inquiry) that may cause the Transactions to fail to qualify for the Intended Tax Treatment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Each of Medtronic on behalf of itself and all other members of the Medtronic Group, and SplitCo, on behalf of itself and all other members of the SplitCo Group, represents and warrants that it has no plan or intention to take, fail to take or cause or permit to be taken any action which is inconsistent with any of the statements or representations made or set forth in the Tax Materials or that may cause the Transactions to fail to qualify for the Intended Tax Treatment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Each of the Parties hereby represents and warrants that it has the power and authority to execute, deliver and perform this Agreement, that this Agreement has been duly authorized by all necessary corporate action on the part of such Party, that this Agreement constitutes a legal, valid and binding obligation of each such Party enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization,

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moratorium or other similar Laws affecting creditors' rights generally and general equity principles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Restrictions Relating to the Intended Tax Treatment of the Transactions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo, on behalf of itself and all other members of the SplitCo Group, hereby covenants and agrees that no member of the SplitCo Group will take, fail to take or cause or permit to be taken (i) any action where such action or failure to act would be inconsistent with or cause to be untrue any statement, information, covenant or representation in the Tax Materials or (ii) any action where such action or failure to act constitutes a SplitCo Disqualifying Action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Specific Restrictions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;During the Restricted Period, SplitCo shall continue, and cause to be continued, the active conduct of each SplitCo Trade or Business for purposes of Section 355(b)(2) of the Code, taking into account Section 355(b)(3) of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;During the Restricted Period, SplitCo shall not voluntarily dissolve or liquidate itself or any of its Affiliates (including any action that is treated as a liquidation for U.S. federal income tax purposes);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;During the Restricted Period, SplitCo shall not (1) enter into any Proposed Acquisition Transaction or, to the extent SplitCo has the right to prohibit any Proposed Acquisition Transaction, permit any Proposed Acquisition Transaction to occur, (2) redeem or otherwise repurchase (directly or through an Affiliate) any SplitCo stock, or rights to acquire SplitCo stock, except to the extent such repurchases satisfy Section 4.05(1)(b) of Revenue Procedure 96-30 (as in effect prior to the amendment of such Revenue Procedure by Revenue Procedure 2003-48), (3) amend its certificate of incorporation (or other organizational documents) or take any other action, whether through a stockholder vote or otherwise, affecting the relative voting rights of SplitCo Capital Stock (including through the conversion of any class of SplitCo Capital Stock into another class of SplitCo Capital Stock) or (4) take any other action or actions (including any action or transaction that would be reasonably likely to be inconsistent with any of the statements and representations made or set forth in the Tax Materials) which in the aggregate, when combined with any other direct or indirect changes in ownership of SplitCo Capital Stock pertinent for purposes of Section 355(e) of the Code, would be reasonably likely to have the effect of causing or permitting one or more Persons (whether or not acting in concert) to acquire directly or indirectly stock representing a thirty-five percent (35%) or greater interest in SplitCo (or in any Affiliate of SplitCo that was a party to an Internal Distribution) or otherwise jeopardize the Intended Tax Treatment; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;During the Restricted Period, SplitCo shall not, and shall not cause or permit any member of the SplitCo Group to, sell, transfer or otherwise dispose of or agree to, sell, transfer or otherwise dispose of (including in any transaction treated for U.S. federal income tax purposes as a sale, transfer or disposition) assets (including any

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shares of capital stock of a Subsidiary) that, in the aggregate, constitute more than twenty percent (20%) of the gross assets of any SplitCo Trade or Business or more than twenty percent (20%) of the consolidated gross assets of SplitCo or the SplitCo Group. The foregoing sentence shall not apply to (1) sales, transfers or dispositions of assets in the ordinary course of business, (2) any cash paid to acquire assets from an unrelated Person in an arm's-length transaction, (3) any assets transferred to a Person that is disregarded as an entity separate from the transferor for U.S. federal income tax purposes or (4) any mandatory or optional repayment (or prepayment) of any indebtedness of SplitCo or any member of the SplitCo Group. For any such transactions that would occur on or after the Divestment Date, the percentages of gross assets or consolidated gross assets of SplitCo or the SplitCo Group, as the case may be, sold, transferred or otherwise disposed of, shall be based on the fair market value of the gross assets of SplitCo and the members of the SplitCo Group as of the Divestment Date. For purposes of this <u>Section 4.2(b)(iii)</u>, a merger of SplitCo or one of its Subsidiaries with and into any Person that is not a wholly owned Subsidiary of SplitCo shall constitute a disposition of all of the assets of SplitCo or such Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Swiss Tax Restrictions</u>. From the date hereof until the first Business Day after the third (3<sup>rd</sup>) anniversary of the Swiss Divestment Date, SplitCo shall not, and shall not cause or permit any member of the SplitCo Group to, take any action or enter into any transaction that would:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;result in SplitCo Switzerland NewCo ceasing to substantially continue the business activity transferred from Medtronic International within Switzerland (including, but not limited to, a transfer of the business activity to a place outside of Switzerland or an actual or *de facto* liquidation of SplitCo Switzerland NewCo);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;result in SplitCo Switzerland NewCo earning remuneration inconsistent with the historic transfer pricing practices of the Medtronic Group; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;effectuate a merger of SplitCo Switzerland NewCo with and into another Swiss entity or a demerger of SplitCo Switzerland NewCo.

These restrictions described under this <u>Section 4.2(b)(v)</u> shall be interpreted in a manner consistent with the Direct Federal Tax Act of Switzerland.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the restrictions imposed by <u>Section 4.2(b)</u>, SplitCo or a member of the SplitCo Group may take any of the actions or transactions described therein if SplitCo either (i) obtains a Tax ruling with an appropriate Taxing Authority or an Unqualified Tax Opinion, at the election of Medtronic (and in the case of a transaction described in <u>Section 4.2(b)(v)(3)</u>, obtains a Tax ruling issued by the competent Swiss Taxing Authority stating that such merger or demerger (A) will be non-taxable for Swiss Tax purposes, (B) will not retroactively affect the tax-free or tax-neutral nature of the Swiss Demerger and (C) will not result in any other adverse Swiss Tax consequences to Medtronic International), in form and substance satisfactory to Medtronic in Medtronic's sole and absolute discretion or (ii) obtains the

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prior written consent of Medtronic waiving the requirement that SplitCo obtain a Tax ruling or an Unqualified Tax Opinion, such waiver to be provided in Medtronic's sole and absolute discretion. Medtronic's evaluation of a Tax ruling or an Unqualified Tax Opinion, as applicable, may consider, among other factors, the appropriateness of any underlying assumptions, representations and covenants made in connection with such ruling or opinion (and, for the avoidance of doubt, Medtronic may determine that no ruling or opinion would be acceptable to Medtronic). SplitCo shall bear all costs and expenses of securing any such Tax ruling or an Unqualified Tax Opinion and shall reimburse Medtronic for all reasonable out-of-pocket expenses (including reasonable fees of external legal counsel and external Tax Advisors) that Medtronic or any of its Affiliates may incur in good faith in seeking to obtain or evaluate any such Tax ruling or Unqualified Tax Opinion. Neither the delivery of a Tax ruling or an Unqualified Tax Opinion nor Medtronic's waiver of SplitCo's obligation to deliver Tax ruling or an Unqualified Tax Opinion shall limit or modify SplitCo's continuing indemnity obligations pursuant to <u>Article V</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Parties each (i) shall timely file (or cause to be timely filed) any appropriate information and statements to report the applicable steps of the Transactions as qualifying for the Intended Tax Treatment and (ii) shall not (and shall not cause or permit any of their respective Affiliates to) take any position on any Tax Return, financial statement or other document (or otherwise with a Taxing Authority) that is inconsistent with such qualifications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Base Erosion Payment Restrictions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;For each taxable year of Medtronic ending on or before the Divestment (and in the case of the taxable year of Medtronic during which the Divestment occurs, for the portion of such taxable year ending on the date of the Divestment), SplitCo shall, and shall cause the members of the SplitCo Group, to take all actions necessary to have a "base erosion percentage" (as defined in Section 59A(c)(4) of the Code) of less than three percent (3%) (or such percentage as may be applicable under any amendments to Section 59A of the Code to taxpayers that are not banks and securities dealers); <u>provided</u> that for purposes of this sentence, the "base erosion percentage" shall be determined pursuant to Treasury Regulation Section 1.59A-2(e) and by treating SplitCo as the "applicable taxpayer" of an "aggregate group" that excludes Medtronic Parent and its Subsidiaries (other than SplitCo and its Subsidiaries) (the "<u>SplitCo BEAT Group</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo shall promptly notify Medtronic if it expects that SplitCo and the SplitCo Group will not satisfy the covenant in <u>Section 4.2(e)(i)</u>. With respect to each taxable year of SplitCo (or any member of the SplitCo Group) that ends on or before the Divestment (and in the case of the taxable year of SplitCo (and each member of the SplitCo Group) during which the Divestment occurs, for the portion of such taxable year ending on the date of the Divestment), SplitCo shall, at the request of Medtronic, as determined by Medtronic in its sole discretion to be necessary to cause the SplitCo BEAT Group to have a "base erosion percentage" less than three percent (3%) or such percentage as may be applicable under any amendments to Section 59A of the Code to

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taxpayers that are not banks and securities dealers) during the applicable taxable year (or portion of a taxable year) of Medtronic, as determined under and for purposes of <u>Section 4.2(e)(i)</u>, waive, and cause applicable members of the SplitCo Group to waive, deductions for U.S. federal income tax purposes as permitted under Treasury Regulation Section 1.59A-3 such that the "base erosion percentage" of the SplitCo BEAT Group is less than three percent (3%) <u>provided</u>, that, Medtronic's non-exercise of its right pursuant to this <u>Section 4.2(e)(ii)</u> shall not limit SplitCo's indemnity obligations as determined under <u>Section 5.1(b)</u>. To effectuate any such waivers, SplitCo shall (1) prepare an election as described in Treasury Regulation Section 1.59A-3(c)(6) consistent with Medtronic's request in this <u>Section 4.2(e)(ii)</u> (a "<u>Deduction Waiver Election</u>"), (2) provide such Deduction Waiver Election to Medtronic at least thirty (30) days prior to the filing of the earliest Tax Return with which such Deduction Waiver Election is to be filed and (3) incorporate into such Deduction Waiver Election any reasonable comments provided by Medtronic at least five (5) days prior to the filing of such Tax Return.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Qualified Expenditure Elections</u>. For each taxable year of SplitCo that begins on or before or includes the Divestment Date, SplitCo shall, and shall cause the members of the SplitCo Group, as applicable, to make an election pursuant to Section 59(e) of the Code to deduct "qualified expenditures," as such term is defined under Section 59(e)(2) of the Code, ratably over the period applicable to such expenditures as described in Section 59(e)(1) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Other Tax Restrictions</u>. During the applicable period set forth on <u>Exhibit D</u>, SplitCo shall not, and shall not cause or permit any member of the SplitCo Group, to take any actions described on <u>Exhibit D</u>.

ARTICLE V

**<u>INDEMNITY OBLIGATIONS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnity Obligations</u>. Notwithstanding anything to the contrary in this Agreement (but, for the avoidance of doubt, subject to <u>Section 10.10</u>):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Medtronic shall indemnify and hold harmless SplitCo from and against and will reimburse SplitCo for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;all liability for Taxes allocated to Medtronic pursuant to <u>Article II</u> (other than liabilities described in, and for which SplitCo is responsible, pursuant to <u>Sections 5.1(b)(ii)</u> and <u>5.1(b)(iii)</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;all Taxes and Tax-Related Losses arising out of, based upon, or relating or attributable to any breach of or inaccuracy in, or failure to perform, as applicable, any representation, covenant or obligation of any member of the Medtronic Group pursuant to this Agreement;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the amount of any Refund received by any member of the Medtronic Group that is allocated to SplitCo pursuant <u>Section 2.3(c)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Without regard to whether a Tax ruling or an Unqualified Tax Opinion may have been provided or whether any action is permitted or consented to hereunder, SplitCo shall indemnify and hold harmless Medtronic from and against and will reimburse Medtronic for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;all liability for Taxes allocated to SplitCo pursuant to <u>Article II</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;all Taxes and Tax-Related Losses arising out of, based upon or relating or attributable to any breach of or inaccuracy in, or failure to perform, as applicable, any representation, covenant or obligation of any member of the SplitCo Group pursuant to this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;any Taxes and Tax-Related Losses attributable to any SplitCo Disqualifying Action;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;all Taxes and Tax-Related Losses arising out of, based upon or relating or attributable to any breach of the covenants or obligations in <u>Section 4.2</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;the amount of any Refund received by any member of the SplitCo Group that is allocated to Medtronic pursuant to <u>Section 2.3(a)</u>; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;any Taxes and Tax-Related Losses arising from the application of Section 59A of the Code if there is a breach of any of the covenants or obligations in <u>Section 4.2(e)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;To the extent that any Tax or Tax-Related Loss is subject to indemnity pursuant to both <u>Section 5.1(a)(ii)</u> (on the one hand) and <u>Section 5.1(b)(ii)</u> or <u>(iii)</u> or <u>Section 5.1(b)(iv)</u> (on the other hand), responsibility for such Tax or Tax-Related Loss shall be shared by Medtronic and SplitCo according to relative fault as determined by Medtronic in its good faith discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification Payments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in this Agreement, if either Party (or its Affiliate) (the "<u>Indemnitee</u>") is required to pay to a Taxing Authority a Tax or to another Person a payment in respect of a Tax for which the other Party (the "<u>Indemnifying Party</u>") is liable under this Agreement, including as a result of a Final Determination, the Indemnitee shall notify the Indemnifying Party, in writing, of the Indemnitee's requirement to pay such Tax and, in reasonably sufficient detail (and shall include any relevant Tax Return, statement, bill or invoice relating to Taxes, costs, expenses or other amounts due and owing), the Indemnitee's calculation of the amount due by such Indemnifying Party to the Indemnitee, including any Tax-Related Losses attributable thereto. The Indemnifying Party shall pay such amount, including any Tax-Related Losses attributable thereto, to the Indemnitee no later than thirty (30) days after the receipt of notice from the other Party.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If, as a result of any change or redetermination, any amount previously allocated to and borne by one Party pursuant to the provisions of <u>Article II</u> is thereafter allocated to the other Party, then, no later than thirty (30) days after such change or redetermination, such other Party shall pay to the first Party the amount previously borne by such Party which is allocated to such other Party as a result of such change or redetermination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment Mechanics</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;All payments under this Agreement shall be made by Medtronic or, at the discretion of Medtronic, by Medtronic Parent on behalf of Medtronic, directly to SplitCo and by SplitCo directly to Medtronic or, if requested by Medtronic, to Medtronic Parent; <u>provided</u>, <u>however</u>, that if the Parties mutually agree with respect to any such indemnification payment, any member of the Medtronic Group, on the one hand, may make such indemnification payment to any member of the SplitCo Group, on the other hand, and vice versa. All indemnification payments shall be treated in the manner described in <u>Section 5.4</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In the case of any payment of Taxes made by a Responsible Party or Indemnitee pursuant to this Agreement for which such Responsible Party or Indemnitee, as the case may be, has received a payment from the other Party, such Responsible Party or Indemnitee shall provide to the other Party a copy of any official Taxing Authority receipt received with respect to the payment of such Taxes to the applicable Taxing Authority (or, if no such official governmental or Taxing Authority receipts are available, executed bank payment forms or other reasonable evidence of payment).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Treatment of Tax Indemnity Payments</u>. The Parties agree that any indemnity payments made between the Parties pursuant to this Agreement (and under the Separation Agreement and the EMA), unless otherwise required by a Final Determination, shall be treated for all U.S. federal income tax purposes, to the extent permitted by Law, as either (i) a non-taxable contribution by Medtronic to SplitCo or (ii) a distribution by SplitCo to Medtronic, in each case, made immediately prior to the Medtronic Distribution <u>provided</u>, <u>however</u>, that following the SplitCo Merger, any indemnity payments shall be made by or to SplitCo Parent (as successor and on behalf of SplitCo). Notwithstanding the foregoing, Medtronic shall notify SplitCo if it determines that any indemnity payments made pursuant to this Agreement is to be treated, for any Tax purposes, in a different manner, including, but not limited to, as a payment made by Medtronic or SplitCo, as the case may be, acting as an agent of one of such Person's Subsidiaries to the other Person acting as an agent of one of such other Person's Subsidiaries, and the Parties agree to treat any such payment accordingly; <u>provided</u>, <u>however</u>, that in no event should any indemnity payments under this Agreement (or the Separation Agreement and the EMA) be treated as a contribution by Medtronic Parent to SplitCo or a distribution by SplitCo to Medtronic Parent. In the event that any Taxes are imposed on or attributable to any Tax indemnity payment made by a Party (or a Subsidiary of such Party) under this Agreement (and under the Separation Agreement and the EMA), such indemnity payment shall be increased as necessary so that after making all indemnity payments in respect of such Taxes, the recipient Party (or Subsidiary of such Party) receives an amount equal to the sum it would have received had no such Taxes been imposed, respectively decreased to take into account any Tax benefit

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actually realized by the Indemnitee resulting from the incurrence of the liability in respect of which the indemnity payment by the Indemnifying Party is made.

ARTICLE VI

**<u>TAX CONTESTS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice</u>. Each Party shall notify the other Party in writing within ten (10) days after receipt by such Party or any member of its Group of a written communication from any Taxing Authority with respect to any pending or threatened audit, examination, claim, dispute, suit, action, proposed assessment or other proceeding (a "<u>Tax Contest</u>") concerning any Taxes for which the other Party may be liable pursuant to this Agreement and/or any Taxes in respect of payments between the Medtronic Group and the SplitCo Group and thereafter shall promptly forward or make available to such Party copies of notices and communications relating to such Tax Contest. A failure by an Indemnitee to give notice as provided in this <u>Section 6.1</u> (or to promptly forward any such notices or communications) shall not relieve the Indemnifying Party of its indemnification obligation under this Agreement, except to the extent that the Indemnifying Party shall have been materially prejudiced by such failure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Joint Returns</u>. In the case of any Tax Contest with respect to any Joint Return, Medtronic shall have the sole responsibility and right to control the prosecution of such Tax Contest, including the exclusive right to communicate with agents of the applicable Taxing Authority and to control, resolve, settle or agree to any deficiency, claim or adjustment proposed, asserted or assessed in connection with or as a result of such Tax Contest, subject to <u>Sections 6.1</u> and <u>6.5</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Separate Returns</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <u>Section 2.3(b),</u> in the case of any Tax Contest with respect to a Separate Return, the Party having the liability for the Tax pursuant to <u>Article II</u> shall have the sole responsibility and right to control the prosecution of such Tax Contest, including the exclusive right to communicate with agents of the applicable Taxing Authority and to control, resolve, settle or agree to any deficiency, claim or adjustment proposed, asserted or assessed in connection with or as a result of such Tax Contest; <u>provided</u>, that, in the case of any such Tax Contest that relates both to Taxes for which Medtronic has liability pursuant to <u>Section 2.1(a)</u> and to Taxes for which SplitCo has liability pursuant to <u>Section 2.1(b)</u>, (i) any Tax Contest that relates to the treatment of payments between the Medtronic Group and the SplitCo Group shall be jointly controlled by the Parties and (ii) in the case of any other Tax Contest described in this proviso, the Party that has the largest amount of potential Tax liability arising out of such Tax Contest shall be the Controlling Party and the other Party shall be the Non-Controlling Party (with the rights set forth in <u>Sections 6.1</u> and <u>6.5</u>, respectively); <u>provided</u>, <u>further</u>, that the Controlling Party in any Tax Contest described in clause (ii) of the preceding proviso shall not resolve, settle or agree to any deficiency, claim or adjustment proposed, asserted or assessed in connection with or as a result of such Tax Contest without the prior written consent of the Non-Controlling Party if any such action would cause the Non-Controlling Party to be liable for an

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amount of Taxes and Tax-Related Losses in excess of $3,000,000 USD pursuant to this Agreement or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in <u>Section 6.3(a)</u> above, Medtronic shall have the sole responsibility and right to control the prosecution of any Tax Contest with respect to a Separate Return that could reasonably affect the ability of a Transaction to qualify for the Intended Tax Treatment, including the exclusive right to communicate with agents of the applicable Taxing Authority and to control, resolve, settle or agree to any deficiency, claim or adjustment proposed, asserted or assessed in connection with or as a result of such Tax Contest; <u>provided</u>, that Medtronic shall not resolve, settle or agree to any deficiency, claim or adjustment proposed, asserted or assessed in connection with or as a result of such Tax Contest without the prior written consent of SplitCo if any such action would cause SplitCo to be liable for an amount of Taxes and Tax-Related Losses in excess of $3,000,000 USD pursuant to this Agreement or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Obligation of Continued Notice</u>. During the pendency of any Tax Contest or threatened Tax Contest, each of the Parties shall provide prompt notice to the other Party of any written communication received by it or a member of its respective Group from a Taxing Authority regarding any Tax Contest for which it is indemnified by the other Party hereunder or for which it may be required to indemnify the other Party hereunder. Such notice shall attach copies of the pertinent portion of any written communication from a Taxing Authority and contain factual information (to the extent known) describing any asserted Tax liability in reasonable detail and shall be accompanied by copies of any notice and other documents received from any Taxing Authority in respect of any such matters. Such notice shall be provided in a reasonably timely fashion; <u>provided</u>, <u>however</u>, that in the event that timely notice is not provided, a Party shall be relieved of its obligation to indemnify the other Party only to the extent that such delay results in material increased costs or material prejudice to such other Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Contest Cooperation Rights</u>. Unless waived by the Parties in writing, in connection with any potential adjustment in a Tax Contest as a result of which adjustment the Non-Controlling Party may reasonably be expected to become liable to make any indemnification payment to the Controlling Party under this Agreement, (i) the Controlling Party shall keep the Non-Controlling Party informed in a timely manner of all actions taken or proposed to be taken by the Controlling Party with respect to such potential adjustment in such Tax Contest, (ii) the Controlling Party shall timely provide the Non-Controlling Party copies of any written materials relating to such potential adjustment in such Tax Contest received from any Taxing Authority, (iii) the Controlling Party shall timely provide the Non-Controlling Party with copies of any correspondence or filings submitted to any Taxing Authority or judicial authority in connection with such potential adjustment in such Tax Contest, (iv) the Controlling Party shall consult with the Non-Controlling Party and offer the Non-Controlling Party a reasonable opportunity to comment before submitting any written materials prepared or furnished in connection with such potential adjustment in such Tax Contest and (v) the Controlling Party shall defend such Tax Contest diligently and in good faith. The failure of the Controlling Party to take any action specified in the preceding sentence with respect to the Non-Controlling Party shall not relieve the Non-Controlling Party of any liability or obligation which it may have to the

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Controlling Party under this Agreement, and in no event shall such failure relieve the Non-Controlling Party from any other liability or obligation which it may have to the Controlling Party.

ARTICLE VII

**<u>COOPERATION</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;<u>General</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Party shall fully cooperate, and shall cause all members of such Party's Group to fully cooperate and in a timely manner (considering the other Party's normal internal processing or reporting requirements), with all reasonable requests in writing from the other Party, or from an agent, representative or advisor of such Party, in connection with the preparation and filing of any Tax Return, claims for Refunds, the conduct of any Tax Contest and calculations of amounts required to be paid pursuant to this Agreement, in each case, related or attributable to or arising in connection with Taxes of either Party or any member of either Party's Group covered by this Agreement and the establishment of any reserve required in connection with any financial reporting (a "<u>Tax Matter</u>"). Such cooperation shall include the provision of any information reasonably necessary by the other Party in connection with the preparation of Tax Returns or financial accounting statements, audits, litigation or the resolution of items under this Agreement and shall include, without limitation, at each Party's own cost:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;the provision of any Tax Returns of either Party or any member of either Party's Group, books, records (including information regarding ownership and Tax basis of property), documentation and other information relating to such Tax Returns, including accompanying schedules, related work papers and documents relating to rulings or other determinations by Taxing Authorities (in each case, subject to <u>Section 3.4</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;the execution of any document (including any power of attorney) that may be reasonably helpful in connection with any Tax Contest of either Party or any member of either Party's Group or the filing of a Tax Return or a Refund claim of either Party or any member of either Party's Group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;the use of the Party's commercially reasonable efforts to obtain any documentation and to provide any additional facts, insights or views as requested by the other Party that may be reasonably helpful in connection with a Tax Matter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;the use of the Party's commercially reasonable efforts to obtain any Tax Returns (including accompanying schedules, related work papers and documents), documents, books, records or other information that may be reasonably helpful in connection with the filing of any Tax Returns of either Party or any member of either Party's Group; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;the use of the Party's commercially reasonable efforts to resolve any outstanding requests from any Taxing Authority or otherwise cooperate with such Taxing Authority in connection with the issuance of a Tax ruling.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Party shall make its and its Subsidiaries' employees and facilities available, as reasonably requested, and available, without charge, on a mutually convenient basis to facilitate such cooperation.

ARTICLE VIII

**<u>RETENTION OF RECORDS; ACCESS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Retention of Records</u>. For so long as the contents thereof may become material in the administration of any matter under applicable Tax Law, but in any event until the later of (i) sixty (60) days after the expiration of any applicable statutes of limitation (including any waivers or extensions thereof) and (ii) seven (7) years after the IPO Effective Date, the Parties shall retain records, documents, accounting data and other information (including computer data) necessary for the preparation and filing of all Tax Returns (collectively, "<u>Tax Records</u>") in respect of Taxes of any member of either the Medtronic Group or the SplitCo Group for any Pre-IPO Period or Straddle Period or for any Tax Contests relating to such Tax Returns. At any time after the IPO Effective Date when the SplitCo Group proposes to destroy any Tax Records, SplitCo shall first notify Medtronic in writing, and the Medtronic Group shall be entitled to receive, at the cost and expense of the Medtronic Group, such records or documents proposed to be destroyed. The Parties will notify each other in writing of any waivers or extensions of the applicable statute of limitations that may affect the period for which the foregoing records or other documents must be retained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Access to Tax Records</u>. Subject to <u>Section 3.4</u>, the Parties and their respective Affiliates shall make available to each other for inspection and copying, during normal business hours upon reasonable notice, all Tax Records (including, for the avoidance of doubt, any pertinent underlying data accessed or stored on any computer program or information technology system) in their possession, to the extent reasonably required by the other Party in connection with the preparation of Tax Returns or financial accounting statements, audits, litigation or the resolution of items under this Agreement. Each of the Parties shall permit the other Party and its Affiliates, authorized agents and representatives and any representative of a Taxing Authority or other Tax auditor direct access, during normal business hours upon reasonable notice, to any computer program or information technology system used to access or store any Tax Records, in each case to the extent reasonably required by the other Party in connection with the preparation of Tax Returns or financial accounting statements, audits, litigation or the resolution of items pursuant to this Agreement and subject to any security procedures reasonably required by the Party giving access to protect its information technology systems. The Party seeking access to the records of the other Party shall bear all out-of-pocket third-party costs and expenses associated with such access, including any reasonable professional fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Preservation of Privilege</u>. No member of the SplitCo Group shall provide access to, copies of or otherwise disclose to any Person any documentation relating to Taxes existing as

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of the date hereof to which attorney-client privilege may reasonably be asserted without the prior written consent of Medtronic, such consent not to be unreasonably withheld.

ARTICLE IX

**<u>DISPUTE RESOLUTION</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Dispute Resolution</u>. In the event of any dispute between the Parties as to any matter covered by this Agreement, the Parties shall appoint a nationally recognized independent public accounting firm (the "<u>Accounting Firm</u>") to resolve such dispute. In this regard, the Accounting Firm shall make determinations with respect to the disputed items based solely on representations made by Medtronic, SplitCo and their respective representatives, and not by independent review, and shall function only as an expert and not as an arbitrator and shall be required to make a determination in favor of one Party only. The Parties shall require the Accounting Firm to resolve all disputes no later than thirty (30) days after the submission of such dispute to the Accounting Firm, but in no event later than the due date for the payment of Taxes or the filing of the applicable Tax Return, if applicable, and agree that all decisions by the Accounting Firm with respect thereto shall be final and conclusive and binding on the Parties. The Accounting Firm shall resolve all disputes in a manner consistent with this Agreement and, to the extent not inconsistent with this Agreement, in a manner consistent with the Past Practices of Medtronic and its Affiliates, except as otherwise required by applicable Law. The Parties shall require the Accounting Firm to render all determinations in writing and to set forth, in reasonable detail, the basis for such determination. The fees and expenses of the Accounting Firm shall be borne equally by the Parties.

ARTICLE X

**<u>MISCELLANEOUS</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival</u>. Except as otherwise contemplated by this Agreement, all representations, covenants and agreements of the Parties contained in this Agreement shall survive the Divestment and remain in full force and effect in accordance with their applicable terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Notices, requests, instructions or other documents to be given under this Agreement shall be in writing and shall be deemed to have been properly delivered, given and received, (a) on the date of transmission if sent via email (<u>provided</u>, <u>however</u>, that notice given by email shall not be effective unless either (i) a duplicate copy of such email notice is promptly given by one of the other methods described in this <u>Section 10.2</u> or (ii) the receiving Party delivers a written confirmation of receipt of such notice either by email or any other method described in this <u>Section 10.2</u> (excluding "out of office" or other automated replies)), (b) when delivered, if delivered personally to the intended recipient and (c) one Business Day later, if sent by overnight delivery via a national courier service (providing proof of delivery), and in each case, addressed to a Party at the address for such Party set forth below (or at such other address

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for a Party as shall be specified from time to time in a notice given in accordance with this <u>Section 10.2</u>):

If to Medtronic:

Medtronic, Inc.

Medtronic Operational Headquarters

710 Medtronic Parkway

Minneapolis, MN 55432

Attention: Vice President, Corporate Development & Ventures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Legal Director, Business Development

Email:&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

with a copy (which shall not constitute notice) to:

Skadden, Arps, Slate, Meagher & Flom LLP

One Manhattan West

New York, NY 10036

Attn: B. Chase Wink

Email:

And

Cleary Gottlieb Steen & Hamilton LLP

650 California Street

San Francisco, CA 94108

Attn: Benet J. O'Reilly

Email:

Cleary Gottlieb Steen & Hamilton LLP

One Liberty Plaza

New York, NY 10006

Attn: Kimberly R. Spoerri

Email:

If to SplitCo (including as predecessor to SplitCo Parent):

Kangaroo US HoldCo, Inc.

1800 Devonshire Street

Northridge, CA

Attention Courtney Nelson Wills, General Counsel

Email:

with a copy (which shall not constitute notice) to:

Skadden, Arps, Slate, Meagher & Flom LLP

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One Manhattan West

New York, NY 10036

Attn: B. Chase Wink

Email:

Cleary Gottlieb Steen & Hamilton LLP

650 California Street

San Francisco, CA 94108

Attention: Benet J. O'Reilly

Email: &nbsp;&nbsp;&nbsp;&nbsp;

and

Cleary Gottlieb Steen & Hamilton LLP

One Liberty Plaza

New York, NY 10006

Attention:Kimberly R. Spoerri

Email:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Any provision of this Agreement may be waived if, and only if, such waiver is in writing and signed by the Party against whom the waiver is to be effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;No failure or delay of any Party (or the applicable member of its Group) in exercising any right or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or power.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Waiver by any Party of any default by the other Party of any provision of this Agreement shall not be deemed a waiver by the waiving Party of any subsequent or other default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Modification or Amendment</u>. No provisions of this Agreement shall be deemed amended, supplemented or modified by any Party, unless such amendment, supplement, or modification is in writing and signed by an authorized representative of each Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5&nbsp;&nbsp;&nbsp;&nbsp;<u>No Assignment; Binding Effect</u>. Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in part, by operation of Law or otherwise by either Party without the prior written consent of the other Party. Any purported assignment without such consent shall be void. Subject to the preceding sentences, this Agreement will be binding upon, inure to the benefit of, and be enforceable by, the Parties and their respective successors and assigns. Notwithstanding the foregoing, (a) Medtronic may assign this Agreement (or any provision thereof) to any Affiliate of Medtronic and (b) either Party may assign this Agreement without consent of the other Party in connection with (i) a merger transaction in which such Party is not the surviving entity and the surviving entity acquires or

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assumes all or substantially all of such Party's Assets, or (ii) the sale of all or substantially all of such Party's Assets; <u>provided</u>, <u>however</u>, that the assignee expressly assumes in writing all of the obligations of the assigning Party under this Agreement, and the assigning Party provides written notice and evidence of such assignment and assumption to the non-assigning Party; provided, further, that upon the effective time of the SplitCo Merger, SplitCo Parent shall, automatically and without any action from any other Person (including the requirements described in the immediately foregoing proviso), succeed to all of SplitCo's rights and obligations under this Agreement and shall expressly assume and agree to perform, discharge, and be bound by all of SplitCo's obligations, covenants, and liabilities under this Agreement to which Kangaroo US HoldCo, Inc. is a party as of the effective time of the SplitCo Merger. No assignment permitted by this <u>Section 10.5</u> shall release the assigning Party from liability for the full performance of its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment Terms</u>. Except as expressly provided in this Agreement, any amount payable pursuant to this Agreement by one Party (or any member of such Party's Group) shall be paid within thirty (30) days after presentation of an invoice or a written demand by the party entitled to receive such payments. Such demand shall include documentation (or reasonable explanation if such documentation would be unreasonable to produce or procure) setting forth the basis for the amount payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Interest on Late Payments</u>. With respect to any payment between the Parties pursuant to this Agreement not made by the due date set forth in this Agreement for such payment, the outstanding amount will accrue interest at a rate per annum equal to the rate in effect for underpayments under Section 6621 of the Code from such due date to and including the payment date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.8&nbsp;&nbsp;&nbsp;&nbsp;<u>No Set-Off</u>. Except as expressly set forth in the Separation Agreement or any Ancillary Agreement or as otherwise mutually agreed to in writing by the Parties, neither Party nor any member of any Party's Group shall have any right of set-off or other similar rights with respect to (a) any amounts received pursuant to this Agreement or any other Ancillary Agreement or the Separation Agreement or (b) any other amounts claimed to be owed to the other Party or any member of its Group arising out of this Agreement or any other Ancillary Agreement or the Separation Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.9&nbsp;&nbsp;&nbsp;&nbsp;<u>No Circumvention</u>. The Parties agree not to directly or indirectly take any actions, act in concert with any Person who takes an action, or cause or allow any member of any such Party's Group to take any actions (including the failure to take a reasonable action) such that the resulting effect is to materially undermine the effectiveness of any of the provisions of this Agreement (including adversely affecting the rights or ability of any Party to successfully pursue indemnification, contribution or payment pursuant to <u>Article V</u>).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Subsidiaries</u>. Each of the Parties shall cause (or with respect to an Affiliate that is not a Subsidiary or a direct or indirect parent owning all of the equity of such Party, shall use commercially reasonable efforts to cause) to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any Subsidiary or Affiliate of such Party or by any entity that becomes a Subsidiary or Affiliate of

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such Party on and after the Divestment. This Agreement is being entered into by Medtronic, and SplitCo on behalf of themselves and the members of the Medtronic Group (in the case of Medtronic) and the SplitCo Group (in the case of SplitCo). This Agreement shall constitute a direct obligation of each such entity and shall be deemed to have been readopted and affirmed on behalf of any entity that becomes a Subsidiary or Affiliate of such Party on and after the Divestment. Either Party shall have the right, by giving notice to the other Party, to require that any Subsidiary of the other Party execute a counterpart to this Agreement to become bound by the provisions of this Agreement applicable to such Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Third Party Beneficiaries</u>. This Agreement is solely for the benefit of each Party hereto and its respective Affiliates, successors or permitted assigns, and it is not the intention of the Parties to confer third party beneficiary rights upon any other Person and should not be deemed to confer upon any third party any remedy, claim, liability, reimbursement, proceedings or other right in excess of those existing without reference to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Titles and Headings</u>. The article, section and paragraph headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Exhibits and Schedules</u>. The exhibits and schedules hereto shall be construed with and be an integral part of this Agreement to the same extent as if the same had been set forth verbatim herein. Nothing in the exhibits or schedules constitutes an admission of any liability or obligation of any member of the Medtronic Group or the SplitCo Group or any of their respective Affiliates to any third party, nor, with respect to any third party, an admission against the interests of any member of the Medtronic Group or the SplitCo Group or any of their respective Affiliates. The inclusion of any item or liability or category of item or liability on any exhibit or schedule is made solely for purposes of allocating potential liabilities among the Parties and shall not be deemed as or construed to be an admission that any such liability exists.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u>. Any disputes arising out of, related to or in connection with this Agreement, including, without limitation, to its execution, performance, or enforcement, shall be governed by, and construed in accordance with, the Laws of the State of Delaware, regardless of the Laws that might otherwise govern under applicable principles of conflicts of Laws thereof. Each Party irrevocably consents to the exclusive jurisdiction, forum and venue of the Court of Chancery of the State of Delaware or, if (and only if) the Court of Chancery of the State of Delaware finds it lacks subject matter jurisdiction, the federal court of the United States sitting in Delaware or, if (and only if) the federal court of the United States sitting in Delaware finds it lacks subject matter jurisdiction, the Superior Court of the State of Delaware, and appellate courts thereof, over any and all claims, disputes, controversies or disagreements between the Parties or any of their respective Subsidiaries, Affiliates, successors and assigns under or related to this Agreement or any document executed pursuant to this Agreement or any of the transactions contemplated hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Specific Performance</u>. Subject to <u>Article IX</u>, in the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the affected Party shall have the right to specific performance and injunctive or other equitable

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relief of its rights under this Agreement, in addition to any and all other rights and remedies at Law or in equity, and all such rights and remedies shall be cumulative. The Parties agree that the remedies at Law for any breach or threatened breach hereof, including monetary damages, are inadequate compensation for any loss and that any defense in any action for specific performance that a remedy at Law would be adequate is waived. Any requirements for the securing or posting of any bond with such remedy are waived.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If any provision of this Agreement or the application thereof to any Person or circumstance is determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to Persons or circumstances or in jurisdictions other than those as to which it has been held invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to either Party. Upon any such determination, any such provision, to the extent determined to be invalid, void or unenforceable, shall be deemed replaced by a provision that such court determines is valid and enforceable and that comes closest to expressing the intention of the invalid, void or unenforceable provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Construction</u>. The rules of interpretation set forth in Section 11.16 of the Separation Agreement are incorporated by reference into this Agreement, *mutatis mutandis*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.18&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>. This Agreement, the Separation Agreement, the other Ancillary Agreements and the Exhibits and Schedules hereto and thereto contain the entire agreement between the Parties with respect to the subject matter hereof and supersede all previous agreements, negotiations, discussions, writings, understandings, commitments and conversations with respect to such subject matter, and there are no agreements or understandings between the Parties with respect to the subject matter hereof other than those set forth or referred to herein or therein. Nothing contained in this Agreement is intended or shall be construed to amend or modify in any respect, or constitute a waiver of, any of the rights and obligations of the parties under the Separation Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.19&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Agreement may be executed in one or more counterparts, all of which counterparts shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each Party and delivered to the other Party. This Agreement may be executed by facsimile or PDF signature and a facsimile or PDF signature shall constitute an original for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.20&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidentiality</u>. Each Party hereby acknowledges that confidential Information of such Party or members of its Group may be exposed to employees and agents of the other Party or its Group who have a need to know such confidential Information as a result of, or in connection with, the activities contemplated by this Agreement. Each Party agrees, on behalf of itself and its Affiliates, that such Party's obligation (and the obligation of members of its Group) to use and keep confidential such Information of the other Party or its Group shall be governed by Section 7.09 of the Separation Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.21&nbsp;&nbsp;&nbsp;&nbsp;<u>WAIVER OF JURY TRIAL</u>. EACH OF THE PARTIES ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH OF THE PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT. EACH OF THE PARTIES CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT, IN THE EVENT OF ANY LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH OF THE PARTIES UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH OF THE PARTIES MAKES THIS WAIVER VOLUNTARILY AND (D) EACH OF THE PARTIES HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 10.21</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.22&nbsp;&nbsp;&nbsp;&nbsp;<u>Third-Party Beneficiaries</u>. Except for the indemnification rights under this Agreement of Medtronic or SplitCo in their respective capacities as such, (a) the provisions of this Agreement are solely for the benefit of the Parties hereto and are not intended to confer upon any Person except the Parties hereto any rights or remedies hereunder and (b) there are no third-party beneficiaries of this Agreement and this Agreement shall not provide any third person with any remedy, claim, liability, reimbursement, cause of action or other right in excess of those existing without reference to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.23&nbsp;&nbsp;&nbsp;&nbsp;<u>Separation Agreement</u>

. The Parties agree that, in the event of a conflict between the terms of this Agreement and the Separation Agreement with respect to the subject matter hereof, the terms of this Agreement shall govern.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.24&nbsp;&nbsp;&nbsp;&nbsp;<u>Force Majeure</u>. In case performance of any terms or provisions hereof shall be delayed or prevented, in whole or in part, because of or related to compliance with any Law or requirement of any national securities exchange, or because of riot, war, public disturbance, strike, labor dispute, fire, explosion, storm, flood, earthquake, pandemic, shortage of necessary equipment, materials or labor, or restrictions thereon or limitations upon the use thereof, delays in transportation, act of God or act of terrorism, in each case, that is not within the control of the Party whose performance is interfered with and which, by the exercise of reasonable diligence, such Party is unable to prevent, or for any other reason which is not within the control of such Party whose performance is interfered with and which, by the exercise of reasonable diligence, such Party is unable to prevent (each, a "<u>Force Majeure Event</u>"), then, upon prompt written notice stating the date and extent of such interference and the cause thereof by such Party to the other Party, such Party shall be excused from its obligations hereunder during the period such Force Majeure Event or its effects continue, and no liability shall attach against either Party on account thereof; <u>provided</u>, <u>however</u>, that the Party whose performance is interfered with promptly resumes the required performance upon the cessation of the Force Majeure Event or its

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effects. No Party shall be excused from performance if such Party fails to use commercially reasonable efforts to remedy the situation and remove the cause and effects of the Force Majeure Event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.25&nbsp;&nbsp;&nbsp;&nbsp;<u>Tax Matters Agreement Controls</u>. Except to the extent required by applicable Law, to the extent that any provision of a Conveyancing and Assumption Instrument conflicts with any provision of this Agreement, this Agreement shall govern and control unless specifically stated otherwise in such Conveyancing and Assumption Instrument or the Separation Agreement.

[*Signature page follows. The remainder of this page is intentionally left blank.*]

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IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the date first above written.

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| | |
|:---|:---|
| **MEDTRONIC GROUP HOLDING, INC.** | **MEDTRONIC GROUP HOLDING, INC.** |
| By: | /s/ Julian Oldaker |
| Name: | Julian Oldaker |
| Title: | Vice President |
| **KANGAROO US HOLDCO 2, INC.** | **KANGAROO US HOLDCO 2, INC.** |
| By: | /s/ Jason A. Pundsack |
| Name: | Jason Pundsack |
| Title: | Treasurer |

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[*Tax Matters Agreement Signature Page*]

## Exhibit 10.3

**Exhibit 10.3**

EMPLOYEE MATTERS AGREEMENT

by and between

MEDTRONIC GROUP HOLDING, INC.

and

KANGAROO US HOLDCO 2, INC.

Dated as of March 1, 2026

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**TABLE OF CONTENTS**

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| | |
|:---|:---|
| **Page** | **Page** |
| ARTICLE I Definitions | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 1.01. Definitions | 1 |
| ARTICLE II General | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 2.01. Employment of SplitCo Employees | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 2.02. Refusal Employees | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 2.03. Comparable Compensation and Benefits | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 2.04. General Allocation of Employee Liabilities | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 2.05. General Treatment of Employee Benefits | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 2.06. Non-Termination of Employment or Benefits | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 2.07. Power to Amend | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 2.08. No Right to Continued Employment | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 2.09. Personnel Records | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 2.10. Deferred Markets | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 2.11. Post-Standup Date SplitCo Employee Determination | 15 |
| ARTICLE III Collective Bargaining Agreements | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 3.01. Continuity and Performance of Agreements | 17 |
| ARTICLE IV Welfare Plans | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 4.01. General | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 4.02. Participation in SplitCo Welfare Plans | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 4.03. Claims Incurred | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 4.04. Transition Services | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 4.05. No Transfer of Assets Pertaining to Welfare Plans | 20 |
| ARTICLE V Pension Plans | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 5.01. General | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 5.02. Transferring Pension Plan Assets and Liabilities | 20 |
| ARTICLE VI Defined Contribution Plans | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 6.01. Establishment of SplitCo U.S. Savings Plan | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 6.02. Transfer and Assumption of Liabilities | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 6.03. Trust to Trust Transfer of Assets | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 6.04. Plan Fiduciaries | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 6.05. Limitation of Liability | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 6.06. Non-U.S. Defined Contribution Plans | 23 |

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| | |
|:---|:---|
| ARTICLE VII Equity-Based Incentive Compensation Awards | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.01. SplitCo Stock Plan | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.02. Restricted Share Unit Awards | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.03. Performance Share Unit Awards | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.04. Deferred Share Awards. | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.05. Option Awards | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.06. Equity Awards Granted in Certain Non-U.S. Jurisdictions | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.07. Settlement; Tax Reporting and Withholding | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.08. Administrative Arrangements | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.09. Retained Medtronic Award Liabilities | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.10. Registration and Other Regulatory Requirements | 28 |
| ARTICLE VIII Certain Other Arrangements | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 8.01. Annual Incentive Awards | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 8.02. Long-Term Cash Incentive Awards | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 8.03. Restrictive Covenants in Individual Agreements | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 8.04. Severance | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 8.05. SplitCo Employee Stock Purchase Plan | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 8.06. Individual Agreements | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 8.07. Director Compensation | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 8.08. Vacation and Other Paid Time Off | 32 |
| ARTICLE IX Non-Qualified Deferred Compensation | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 9.01. Treatment of Medtronic Non-Qualified Plans | 32 |
| ARTICLE X [Reserved] | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 10.01. Reserved. | 33 |
| ARTICLE XI Cooperation; Payroll Services; Liabilities/Assets and Actions; Access to Information; Confidentiality; Tax Deductions; Indemnification | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 11.01. Cooperation | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 11.02. Payroll Services | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 11.03. Liabilities/Assets and Actions | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 11.04. Access to Information; Confidentiality | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 11.05. Tax Deductions | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 11.06. Indemnification | 35 |
| ARTICLE XII Miscellaneous | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.01. Counterparts; Entire Agreement; Corporate Power | 35 |

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.02. Governing Law; Dispute Resolution; Jurisdiction | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.03. Assignability | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.04. Third-Party Beneficiaries | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.05. Notices | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.06. Severability | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.07. Headings | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.08. Survival of Covenants | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.09. Waivers of Default | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.10. Specific Performance | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.11. No Admission of Liability | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.12. Section 409A | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.13. Termination | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.14. Amendments | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;SECTION 12.15. Interpretation | 37 |

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EMPLOYEE MATTERS AGREEMENT, dated as of March 1, 2026, by and between Medtronic Group Holding, Inc., a Minnesota corporation ("<u>Medtronic</u>") and Kangaroo US Holdco 2, Inc., a Delaware corporation ("<u>SplitCo</u>" and, each of Medtronic and SplitCo, a "<u>Party</u>" and together, the "<u>Parties</u>"). Capitalized terms used in this Agreement and not defined herein shall have the meanings ascribed to such terms in the Separation Agreement, dated as of the date hereof, by and between the Parties (the "<u>Separation Agreement</u>").

R E C I T A L S

WHEREAS, Medtronic and SplitCo have entered into a Separation Agreement, which sets forth the principal corporate transactions required to effect the Separation and the Initial Public Offering and describes certain other agreements that will govern certain matters relating to the Separation, the Initial Public Offering and the Divestment or the Other Disposition, as applicable, and the relationship of Medtronic, SplitCo and their respective Subsidiaries following the Separation;

WHEREAS, in connection therewith, the Parties have agreed to enter into this Agreement to allocate between them assets, liabilities and responsibilities with respect to certain employee compensation, pension and benefit plans, programs and arrangements and other employment matters.

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained in this Agreement, the Parties, intending to be legally bound, hereby agree as follows:

ARTICLE I

<u>Definitions</u>

SECTION 1.01. <u>Definitions</u>. For purposes of this Agreement, the following terms shall have the following meanings.

"<u>Active Participant</u>" has the meaning set forth in <u>Section 5.01</u>.

"<u>Administrative Model</u>" has the meaning set forth in <u>Section 7.08</u>.

"<u>Agreement</u>" means this Employee Matters Agreement.

"<u>Benefit Plan</u>" means, with respect to an entity or any of its Subsidiaries, any plan, program, policy, agreement, arrangement or understanding that is an employment, consulting, deferred compensation, executive compensation, incentive bonus or other bonus, employee pension, profit sharing, savings, retirement, supplemental retirement, stock option, stock purchase, stock appreciation right, restricted stock, restricted stock unit, performance unit, deferred stock unit or other equity-based compensation, severance pay, retention, change in control, salary continuation, life insurance, death benefit, health, hospitalization, workers compensation, welfare benefits, perquisites, sick leave, vacation pay, disability or accident

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insurance or other employee benefit plan, program, agreement or arrangement, including any "employee benefit plan" (as defined in Section 3(3) of ERISA), whether or not subject to ERISA.

"<u>CAP</u>" has the meaning set forth in <u>Section 9.01(a)</u>.

"<u>CBA</u>" means either the Medtronic CBA or the SplitCo CBA, as the context requires.

"<u>COBRA</u>" means Part 6 of Subtitle B of Title I of ERISA, Section 4980B of the Code and any similar state Law.

"<u>Collective Bargaining Agreement</u>" means any collective bargaining, works council or other similar agreement, Contract or arrangement with any labor union, works council or other labor representative applicable to any SplitCo Employee.

"<u>Continuation Period</u>" means the period from the Standup Date (or, in respect of Deferred Market Employees or SplitCo Visa Employees, the Deferred Separation Date or the Deferred Employee Date, respectively), through the later of (a) any continuation period required by applicable Law or CBA, and (b) a period of twelve (12) months following the Standup Date (or, in respect of Deferred Market Employees or SplitCo Visa Employees, the Deferred Separation Date or the Deferred Employee Date, respectively).

"<u>Conversion Ratio</u>" means the quotient, rounded to four (4) decimal places, of (a) the average closing trading price of a Medtronic Parent Ordinary Share for the last three consecutive regular trading days (9:30 am to 4:00 pm EST) on the Exchange, ending on the last regular trading day (9:30 am to 4:00 pm EST) ending immediately preceding the Separation Date, *divided by* (b) the average closing trading price of a share of SplitCo Common Stock for three consecutive regular trading days (9:30 am to 4:00 pm EST) on the Exchange, starting with and including the first regular trading day (9:30 am to 4:00 pm EST) on which the Separation occurs.

"<u>Deferred Employee Date</u>" has the meaning set forth in <u>Section 2.01(d)</u>.

"<u>Deferred Market Employee</u>" has the meaning set forth in <u>Section 2.10</u>.

"<u>Dispute</u>" has the meaning set forth in <u>Section 2.11(e)</u>.

"<u>Employment Records</u>" has the meaning set forth in <u>Section 2.09</u>.

"<u>ERISA</u>" means the U.S. Employee Retirement Income Security Act of 1974, as amended. Reference to a specific provision of ERISA also includes any proposed, temporary or final regulation in effect thereunder.

"<u>FICA</u>" has the meaning set forth in <u>Section 9.01(d)</u>.

"<u>Former Medtronic Employee</u>" means each individual who, as of the Standup Date, is a former employee of a Medtronic Entity and who is not a Former SplitCo Employee.

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"<u>Former SplitCo Employee</u>" means (a) each former employee who separated from employment with a SplitCo Entity prior to the Standup Date and (b) each former employee who separated from employment with a Medtronic Entity prior to the Standup Date and who was primarily dedicated to the SplitCo Business as of immediately prior to his or her separation from employment. For purposes of clause (b), an employee shall be deemed "primarily dedicated to the SplitCo Business" if, immediately prior to such individual's separation from employment, (x) such employee was accounted for in the external reporting of the SplitCo Business in Medtronic's financial accounting systems, or (y) the majority (more than 50%) of such employee's working time was allocated to the SplitCo Business.

"<u>German Works Council Completion</u>" means the date on which Medtronic reaches an agreement with the applicable works council of the relevant member of the Medtronic Group on a balance of interest agreement (*Interessenausgleich*) or, if an agreement is not reached following an arbitration (*Eingungsstelle*), the date on which arbitration has failed.

"<u>Individual Agreement</u>" means any individual (a) employment contract, (b) retention, severance or change in control agreement, (c) expatriate (including any international assignee) contract or agreement (including agreements and obligations regarding repatriation, relocation, equalization of Taxes and living standards in the host country), or (d) other agreement containing restrictive covenants (including confidentiality, noncompetition and non-solicitation provisions) between a Medtronic Entity or SplitCo Entity, on the one hand, and a SplitCo Employee, on the other hand, in each case as in effect immediately prior to the Standup Date.

"<u>Medtronic</u>" has the meaning set forth in the preamble.

"<u>Medtronic Benefit Plan</u>" means any Benefit Plan (a) that is sponsored, maintained or contributed to by, or required to be sponsored, maintained or contributed to by, any Medtronic Entity or (b) that is an Individual Agreement to which a Medtronic Entity is a party, but in each case excluding any SplitCo Benefit Plan.

"<u>Medtronic CBA</u>" means each Collective Bargaining Agreement covering Medtronic Employees.

"<u>Medtronic Deferred PSU Award</u>" means a performance share unit granted under the Medtronic Stock Plans (i) that has vested as the Separation Date and remains outstanding as a Medtronic DSU Award, and (ii) for which the holder has elected to defer distribution until a future date in accordance with the terms of the applicable Medtronic Stock Plan, including upon the holder's retirement or termination of employment.

"<u>Medtronic Dividend Equivalent Unit</u>" means a dividend equivalent unit denominated in Medtronic Parent Ordinary Shares that is credited in respect of a Medtronic RSU Award or Medtronic PSU Award.

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"<u>Medtronic DSU Award</u>" means an award representing a contractual right to receive Medtronic Parent Ordinary Shares granted pursuant to the Medtronic Stock Plans that is outstanding immediately prior to the Effective Time.

"<u>Medtronic Employee</u>" means each employee of the Medtronic Group or the SplitCo Group who is not a SplitCo Employee.

"<u>Medtronic Employee Liabilities</u>" means the following Liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all Liabilities (including those arising under any Action) arising under or related to a Medtronic Benefit Plan and the Retained Medtronic Awards, other than as provided in this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all Liabilities (including those arising under any Action) arising under or related to any Action with respect to all Medtronic Employees or Former Medtronic Employees at any time prior to, on or after the Standup Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;all Liabilities with respect to the employment and termination of all Medtronic Employees and Former Medtronic Employees, whether arising before, on or after the Standup Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;all other Liabilities that are expressly provided by this Agreement or any Ancillary Agreement as Liabilities to be assumed or retained by, or allocated to, any member of the Medtronic Group, including pursuant to <u>Section 5.02</u>, <u>Schedule VI</u> and prong (f) of the definition of "SplitCo Employee Liabilities" hereof.

"<u>Medtronic Entity</u>" means any member of the Medtronic Group.

"<u>Medtronic ESPP</u>" means the Medtronic plc 2024 Employee Stock Purchase Plan, as amended from time to time.

"<u>Medtronic Non-Qualified Plan</u>" means each Medtronic Benefit Plan that is a nonqualified deferred compensation plan or arrangement, including any such plan that is an excess defined benefit or defined contribution plan.

"<u>Medtronic Option Award</u>" means an option to purchase Medtronic Parent Ordinary Shares granted under the Medtronic Stock Plans and outstanding as of immediately prior to the Separation Date.

"<u>Medtronic OUS Pension Plan</u>" means each Medtronic Benefit Plan that is a defined benefit plan providing lump sum and/or pension benefits on retirement and/or leaving service that is maintained in or is contributed to in respect of current or former employees who are or were principally employed in, any jurisdiction outside of the United States.

"<u>Medtronic 2024 PSU Award</u>" means a performance share unit with respect to Medtronic Parent Ordinary Shares granted in fiscal year 2024 for the fiscal years 2024-2026

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performance period under the Medtronic Stock Plans and outstanding as of immediately prior to the Separation Date.

"<u>Medtronic 2025 PSU Award</u>" means a performance share unit with respect to Medtronic Parent Ordinary Shares granted in fiscal year 2025 for the fiscal years 2025-2027 performance period under the Medtronic Stock Plans and outstanding as of immediately prior to the Separation Date.

"<u>Medtronic 2026 PSU Award</u>" means a performance share unit with respect to Medtronic Parent Ordinary Shares granted in fiscal year 2026 for the fiscal years 2026-2028 performance period under the Medtronic Stock Plans and outstanding as of immediately prior to the Separation Date.

"<u>Medtronic PSU Award</u>" means a performance share unit with respect to Medtronic Parent Ordinary Shares granted under the Medtronic Stock Plans and outstanding as of immediately prior to the Separation Date but specifically excluding the Medtronic 2024 PSU Awards.

"<u>Medtronic RSU Award</u>" means a restricted share unit (including any restricted share unit that, as of the Separation Date, was previously earned based on performance-based vesting conditions but remains subject solely to service-based vesting conditions) with respect to Medtronic Parent Ordinary Shares granted under the Medtronic Stock Plans and outstanding as of immediately prior to the Separation Date.

"<u>Medtronic Stock Plans</u>" means the Medtronic 2003 Long-Term Incentive Plan, the Medtronic 2008 Stock Award and Incentive Plan, the Medtronic 2013 Stock Award and Incentive Plan, and the Medtronic plc 2021 Long-Term Incentive Plan, each as amended and restated from time to time.

"<u>Medtronic Welfare Plan</u>" means a Welfare Plan that is a Medtronic Benefit Plan.

"<u>Netherlands Works Council Completion</u>" means the date on which the applicable works council of the relevant member of the Medtronic Group has rendered a neutral or positive opinion in writing and Medtronic has taken a decision in line with the opinion or until Medtronic reasonably concludes that, as a matter of Dutch Law, the applicable works council of the Dutch Medtronic Entity is deemed to have been consulted and to have rendered a negative opinion and Medtronic has taken a decision that is not in line with the negative opinion and the one-month waiting period has lapsed in which the works council has not initiated legal proceedings before the Enterprise Chamber of the Amsterdam Court of Appeal, or the works council has waived the one-month waiting period, in accordance with the provisions of Dutch Law, or in case the works council initiated legal proceedings before the Enterprise Chamber of the Amsterdam Court of Appeal in accordance with the provisions of Dutch Law and the Enterprise Chamber of the Amsterdam Court of Appeal rules that the Dutch Medtronic Entity can implement the decision.

"<u>Non-U.S. DC Plan</u>" has the meaning set forth in <u>Section 6.06</u>.

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"<u>NRPS</u>" has the meaning set forth in <u>Section 9.01(a)</u>.

"<u>Party</u>" has the meaning set forth in the preamble.

"<u>Payroll Transition Date</u>" has the meaning set forth in <u>Section 6.01</u>.

"<u>Periodic Review</u>" has the meaning set forth in <u>Section 2.11(c)</u>.

"<u>Puerto Rico Code</u>" has the meaning set forth in <u>Section 6.01</u>.

"<u>Refusal Employee</u>" has the meaning set forth in <u>Section 2.02</u>.

"<u>Retained Medtronic Awards</u>" means, collectively, (i) each Medtronic 2024 PSU Award held by any SplitCo Employee as of the Separation Date, and (ii) each Medtronic Option Award held by any SplitCo Employee as of the Separation Date.

"<u>Savings Plan Transfer Date</u>" has the meaning set forth in <u>Section 6.02</u>.

"<u>Second Step Transaction</u>" means the Divestment or the Other Disposition, as applicable.

"<u>Separation Agreement</u>" has the meaning set forth in the preamble.

"<u>Shared-Services Employee</u>" means any employee who, immediately prior to such individual's Standup Date (or, for any such Shared-Services Employee that is a SplitCo Leave Employee, immediately prior to the date on which such individual became a SplitCo Leave Employee), allocated 50% or less of such employee's working to the SplitCo Business but who occupies a role or position that is listed on <u>Schedule I</u> attached hereto (it being understood that such roles and positions provide support to the SplitCo Business and have been selected by the Parties in good faith and in accordance with the methodology mutually established by Parties prior to the date hereof).

"<u>SplitCo</u>" has the meaning set forth in the preamble.

"<u>SplitCo Benefit Plan</u>" means any Benefit Plan (a) that is solely sponsored, maintained or contributed to by, or required to be sponsored, maintained or contributed to by, any SplitCo Entity, (b) that is an Individual Agreement to which a SplitCo Entity and/or a SplitCo Employee or Former SplitCo Employee is a party, (c) that is solely for the benefit of SplitCo Employees and/or Former SplitCo Employees, or (d) assumed or adopted by SplitCo pursuant to the terms of this Agreement.

"<u>SplitCo CBA</u>" means each Collective Bargaining Agreement covering SplitCo Employees or the SplitCo Business.

"<u>SplitCo CBA Liabilities</u>" means all Liabilities arising under or related to any SplitCo CBA, including any Liabilities related to a Medtronic CBA covering SplitCo Employees or Former SplitCo Employee.

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"<u>SplitCo Dividend Equivalent Unit</u>" means a dividend equivalent unit denominated in shares of SplitCo Common Stock that is credited in respect of a SplitCo RSU Award or SplitCo PSU Award in accordance with <u>Section 7.02</u> or <u>Section 7.03</u>, as applicable.

"<u>SplitCo DSU Award</u>" has the meaning set forth in <u>Section 7.02</u>.

"<u>SplitCo Employee</u>" means each employee, including any such employee who is hired or engaged by Medtronic, SplitCo or any of their Affiliates following the date of this Agreement, as of immediately prior to the Standup Date, who is (a) employed by a SplitCo Entity, (b) a SplitCo Transfer Employee, or (c) a SplitCo Offer Employee, including all Shared-Services Employees. During the period commencing on the date hereof and ending on the Divestment Date, the Parties shall work together in good faith to consider and agree (in writing) pursuant to <u>Section 2.11</u> hereof if any additional employees, roles or positions not listed on <u>Schedule I</u> attached hereto, including any Medtronic Employees agreed among the Parties to temporarily support SplitCo following the Standup Date as a result of the transactions contemplated by this Agreement, the Separation Agreement and/or the TSA, shall be considered SplitCo Employees.

"<u>SplitCo Employee Liabilities</u>" means the following Liabilities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;all Liabilities (including those arising under any Action) arising under or related to a SplitCo Benefit Plan other than as provided in this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;all Liabilities (including those arising under any Action) arising under or related to any Action with respect to all SplitCo Employees or Former SplitCo Employees (including SplitCo Leave Employees) at any time prior to, on or after the Standup Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;all Liabilities with respect to the employment and termination of all SplitCo Employees and Former SplitCo Employees (including SplitCo Leave Employees), whether arising before, on or after the Standup Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;the SplitCo CBA Liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;all Liabilities arising under or related to SplitCo Employees, to the extent relating to, arising out of or resulting from the ownership, operation or conduct of the SplitCo Business; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;all other Liabilities that are expressly provided by this Agreement or any Ancillary Agreement as Liabilities to be assumed or retained by, or allocated to, any member of the SplitCo Group, including pursuant to <u>Section 5.02</u> and as set forth on <u>Schedule III</u> hereof; <u>provided</u>, that with respect to any Shared-Services Employee, the aforementioned Liabilities, solely to the extent incurred prior such Shared-Services Employee's Standup Date, shall be allocated between Medtronic and SplitCo pro-rata based on, and consistent with, the good-faith allocation of such employee's working time between the respective businesses during the twelve (12) months immediately preceding such Shared-Services Employee's Standup Date (or, for any

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such Shared-Services Employee that is a SplitCo Leave Employee, immediately prior to the date on which such individual became a SplitCo Leave Employee).

"<u>SplitCo Entity</u>" means any member of the SplitCo Group.

"<u>SplitCo ESPP</u>" has the meaning set forth in <u>Section 8.05(a)</u>.

"<u>SplitCo Leave Employee</u>" means each SplitCo Employee who is (a) receiving long-term disability benefits as of immediately prior to the Standup Date pursuant to a Medtronic Benefit Plan principally covering employees employed in the United States; or (b) employed in an EMEA jurisdiction and who is on an approved long-term leave of absence (including but not limited to long-term illness absence, maternity leave or parental leave) as of immediately prior to and on the Standup Date.

"<u>SplitCo Nonqualified Plans</u>" has the meaning set forth in <u>Section 9.01(a)</u>.

"<u>SplitCo Offer Employee</u>" means any employee who (a)(i) is primarily dedicated to the SplitCo Business, or (ii) occupies a role or position that is listed on <u>Schedule I</u> attached hereto (it being understood that such roles and positions provide support to the SplitCo Business and have been selected by the Parties in good faith and in accordance with the methodology mutually established by Parties prior to the date hereof), and (b) is employed in a jurisdiction where the local employment Laws do not provide for the automatic transfer of employees upon the transfer of a business or part of a business as a going concern (or in any jurisdiction where the local employment Laws do provide for the automatic transfer of employees upon the transfer of a business or part of a business as a going concern but applicable Law requires that such employee receives an offer of employment or for any reason). For purposes of clause (a)(i), an employee shall be deemed "primarily dedicated to the SplitCo Business" if, immediately prior to such individual's Standup Date, (x) such employee was accounted for in the external reporting of the SplitCo Business in Medtronic's financial accounting systems, or (y) the majority (more than 50%) of such employee's working time was allocated to the SplitCo Business.

"<u>SplitCo Pension Plan</u>" has the meaning set forth in <u>Section 5.01</u>.

"<u>SplitCo RSU Award</u>" has the meaning set forth in <u>Section 7.02</u>.

"<u>SplitCo Stock Plan</u>" has the meaning set forth in <u>Section 7.01</u>.

"<u>SplitCo Transfer Employee</u>" means any employee who (a) is assigned to the SplitCo Business, and (b) is employed in a jurisdiction where the local employment Laws provide for automatic transfer of employees upon the transfer of a business or part of a business as a going concern, including those who are employed in a jurisdiction listed in <u>Schedule II</u> attached hereto. For purposes of clause (a), an employee shall be deemed "assigned to the SplitCo Business" if, immediately prior to such individual's Standup Date, such employee was assigned to the SplitCo Business as prescribed under the local employment Laws providing for automatic transfer of employees upon the transfer of a business or part of a business as a going concern.

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"<u>SplitCo U.S. Savings Plan</u>" has the meaning set forth in <u>Section 6.01</u>.

"<u>SplitCo Visa Employee</u>" has the meaning set forth in <u>Section 2.01(d)</u>.

"<u>SplitCo Welfare Plan</u>" has the meaning set forth in <u>Section 4.01</u>.

"<u>Standup Date</u>" means (a) for SplitCo Employees located in the United Kingdom, January 24, 2026, (b) for SplitCo Employees located in the United States and Puerto Rico, February 28, 2026, and (c) for all other SplitCo Employees, March 1, 2026; <u>provided</u>, that for any SplitCo Employee that is also a SplitCo Visa Employee and/or a Deferred Market Employee, the "Standup Date" shall instead refer to the Deferred Employee Date or Deferred Separation Date, respectively and as applicable.

"<u>Taxes</u>" shall have the meaning set forth in the TMA.

"<u>Transferring Pension Plan</u>" has the meaning set forth in <u>Section 5.02(a)</u>.

"<u>Transfer Regulations</u>" means the Acquired Rights Directive 2001/23 EC of the European Council dated March 12, 2001, and such applicable Law, agreement or other measure in each Directive Country that implements or extends the Directive which shall for the purpose of this Agreement include the Transfer of Undertakings (Protection of Employment) Regulations 2006 and any other legislation under the applicable Laws of any jurisdiction having the effect of automatically transferring employees' employment on the transfer of a business or undertaking.

"<u>Welfare Plan</u>" means any "welfare plan" (as defined in Section 3(1) of ERISA) or a "cafeteria plan" under Section 125 of the Code, and any benefits offered thereunder, and any other plan offering health benefits (including medical, prescription drug, dental, vision, mental health, substance abuse and retiree health), disability benefits, or life, accidental death and dismemberment, and business travel insurance, pre-Tax premium conversion benefits, dependent care assistance programs, employee assistance programs, paid time-off programs, contribution funding toward a health savings account or flexible spending accounts.

ARTICLE II

<u>General</u>

SECTION 2.01. <u>Employment of SplitCo Employees</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *<u>Employee Transfers</u>*. Subject to applicable local law, and in respect of SplitCo Transfer Employees located in Germany, subject to the German Works Council Completion, and in respect of SplitCo Transfer Employees located in the Netherlands, the Netherlands Works Council Completion, the Parties intend that the contracts of employment of each SplitCo Transfer Employee, will have effect on or prior to the Standup Date (or, in respect of Deferred Market Employees or SplitCo Visa Employees, the Deferred Separation Date or the Deferred Employee Date, respectively), as if originally made between a member of the SplitCo Group and such SplitCo Employees under the applicable Transfer Regulations. If the contract of any SplitCo Transfer Employee does not transfer, or is alleged not to transfer pursuant to the

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applicable Transfer Regulations other than as a result of such employee's objection to such transfer (where such right exists), such employee shall still be considered a SplitCo Offer Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *<u>SplitCo Offer Employees</u>*. For each SplitCo Offer Employee, and in respect of SplitCo Offer Employees located in Germany, subject to the German Works Council Completion, and in respect of SplitCo Offer Employees located in the Netherlands, the Netherlands Works Council Completion, a SplitCo Entity shall, at least 30 days prior to the Standup Date, Deferred Employee Date or Deferred Separation Date, as applicable, provide to each SplitCo Offer Employee a written offer of employment with a member of the SplitCo Group to commence upon the Standup Date, Deferred Employee Date or Deferred Separation Date, as applicable, or upon such later date as agreed between the Parties. All such offers shall (i) comply with the requirements set forth in, and provide for compensation and benefits on terms that are consistent with, this Agreement and (ii) set forth other terms that satisfy all requirements of applicable Law and are sufficient to avoid triggering redundancy, severance, termination or similar entitlements in connection with the transfer of employment from a member of the Medtronic Group to a member of the SplitCo Group. Any offer of employment to a SplitCo Leave Employee will be made in accordance with <u>Section 2.01(c)</u> below. Any offers of employment provided pursuant to this <u>Section 2.01(b)</u> shall be subject to advance review and comment by Medtronic, and SplitCo shall consider in good faith and accept all such reasonable comments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *<u>SplitCo Leave Employees</u>*. With the exception of SplitCo Employees who are automatically transferred pursuant to the applicable Transfer Regulations, in the event that any SplitCo Leave Employee returns to work from his or her leave of absence within one (1) year following the Standup Date, then a SplitCo Entity shall make an offer of employment to such individual as soon as practicable, but in no event later than ten (10) days, following such individual's eligibility to return to active service; <u>provided</u>, that with respect to each such SplitCo Leave Employee who is subject to a SplitCo CBA, the Medtronic Group and the SplitCo Group shall comply with any return-to-work provisions set forth in the applicable SplitCo CBA, and if such SplitCo Leave Employee has a right to return to the Medtronic Group, such SplitCo Leave Employee shall be considered a Medtronic Employee. Offers of employment described in this <u>Section 2.01(c)</u> shall comply with the requirements set forth in, and provide for compensation and benefits on terms that are consistent with, this Agreement. Unless otherwise specified in this Agreement or for purposes of this <u>Section 2.01</u>, for any SplitCo Leave Employee, references in this Agreement to the "Standup Date" or "Separation Date" shall be treated as references to the first day and time at which the applicable SplitCo Leave Employee commences employment with the SplitCo Group following such SplitCo Leave Employee's return to work. Each SplitCo Leave Employee shall, until the date such SplitCo Leave Employee commences employment with a SplitCo Entity in accordance with this <u>Section 2.01(c)</u>, remain on Medtronic's payroll and covered by any applicable Medtronic Benefit Plans and any Liabilities incurred as a result of, arising out of or relating to such continuance of payroll and benefits shall be Medtronic Employee Liabilities; <u>provided</u>, that for all other purposes of this Agreement (including if a SplitCo Leave Employee is unable to return to work within one (1) year of the Standup Date), a SplitCo Leave Employee shall be considered a Former SplitCo Employee, unless and until he or

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she (i) commences active employment with a member of the SplitCo Group or (ii) becomes treated as a Medtronic Employee pursuant to the first sentence of this <u>Section 2.01(c)</u>. In the event that Medtronic terminates a SplitCo Leave Employee as a result of their ineligibility to return to active service within one (1) year of the Standup Date or refusal to accept an offer of employment delivered pursuant to this <u>Section 2.01(c)</u>, any Liabilities (including, but not limited to, any claim for severance or other similar payments or benefits, claims of discrimination, retaliation or violation of leave or employment rights under applicable Law, and/or any related legal or outside counsel fees and expenses) incurred as a result of, arising out of or relating to such termination shall be SplitCo Employee Liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *<u>SplitCo Visa Employees</u>*. If any SplitCo Employee requires a visa, work permit or other approval for his or her employment to commence with, transfer to or continue with a member of the SplitCo Group on or after the Standup Date or Deferred Separation Date (as applicable) (each, a "<u>SplitCo Visa Employee</u>"), the SplitCo Group shall promptly file any necessary applications or documents and will take all reasonable actions needed to secure the necessary visa, permit or other approval to allow such SplitCo Visa Employee to commence work with effect from the Standup Date or Deferred Separation Date (as applicable), and Medtronic will provide such assistance as reasonably requested by SplitCo in connection therewith; <u>provided</u>, that SplitCo shall be solely responsible for any costs, fees or expenses incurred in connection with such SplitCo Visa Employee applications and actions. If the necessary work approval is not in place in respect of a SplitCo Visa Employee as at the Standup Date or Deferred Separation Date (as applicable), the transfer of any such SplitCo Visa Employee will be deferred until the date that such visa, work permit or other approval is in place (the "<u>Deferred Employee Date</u>"), and such SplitCo Visa Employee shall, until the Deferred Employee Date, remain on Medtronic's payroll and covered by any applicable Medtronic Benefit Plans; <u>provided</u>, that any Liabilities incurred as a result of, arising out of or relating to such continuance of payroll and benefits shall be SplitCo Employee Liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) *<u>At-Will Status</u>*. Nothing in this Agreement shall create any obligation on the part of any member of the Medtronic Group or any member of the SplitCo Group to (i) continue the employment of any SplitCo Employee or permit the return from a leave of absence for any period after the date of this Agreement (except as required by applicable Law or CBA) or (ii) change the employment status of any SplitCo Employee from "at-will," to the extent that such SplitCo Employee is an "at-will" employee under applicable Law.

SECTION 2.02. <u>Refusal Employees</u>. In the event that a SplitCo Employee is not employed by a SplitCo Entity on the Standup Date, Deferred Employee Date or Deferred Separation Date (as applicable) solely as a result of such individual rejecting an offer of employment that is otherwise compliant with the requirements set forth in, and provides for compensation and benefits on terms that are consistent with, this Agreement (each a "<u>Refusal</u> <u>Employee</u>"), such Refusal Employee's employment shall remain with the Medtronic Group as at the Standup Date, Deferred Employee Date or Deferred Separation Date (as applicable); <u>provided</u>, that the relevant member of the Medtronic Group may terminate such Refusal Employee's employment within six (6) calendar months of the Standup Date, Deferred Employee Date or Deferred Separation Date (as applicable) and any Liabilities arising from or

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incurred in connection with any such termination (including, without limitation, claims for severance and/or any related legal or outside counsel fees and expenses) shall be Medtronic Employee Liabilities. For the avoidance of doubt, nothing in this Agreement shall create any obligation on the part of any member of the Medtronic Group to continue the employment of any Refusal Employee (except as required by applicable Law or CBA).

SECTION 2.03. <u>Comparable Compensation and Benefits</u>. During the Continuation Period, SplitCo shall provide to each SplitCo Employee: (a) a base salary or wage rate that is not less than that in effect for such SplitCo Employee immediately prior to the Standup Date, (b) short-term incentive compensation opportunities that are no less favorable than those in effect for each such SplitCo Employee immediately prior to the Standup Date, and (c) employee benefits that, in the aggregate, are substantially comparable to those in effect for each such SplitCo Employee immediately prior to the Standup Date (excluding long-term or equity-based incentive compensation, retention payments and other one-time or non-recurring compensation payments and any defined benefit pension plans except where required by applicable Law). Any period of continuous service of a SplitCo Employee with a Medtronic Entity which ends on the Standup Date shall be treated as if it were service with a SplitCo Entity for the purposes of determining eligibility for membership of, vesting of benefits under, and other service-related provisions of, any SplitCo Benefit Plan except to the extent (i) not permitted by applicable Law; (ii) which would result in a duplication of benefits for the SplitCo Employee; or (c) recognized for benefit accrual under defined benefit pension schemes.

SECTION 2.04. <u>General Allocation of Employee Liabilities</u>. Except as otherwise expressly provided in this Agreement, effective as of the Standup Date, (a) a member of the SplitCo Group shall assume or retain, and the members of the SplitCo Group hereby agree to perform, fulfill, pay and discharge in accordance with their respective terms, the SplitCo Employee Liabilities, and (b) a member of the Medtronic Group shall assume or retain, and the members of the Medtronic Group hereby agree to perform, fulfill, pay and discharge in accordance with their respective terms, the Medtronic Employee Liabilities. No Party shall be required to reimburse the other Party for Liabilities to the extent that such Liabilities have been satisfied prior to the Standup Date. To the extent that this Agreement does not address particular Liabilities under any Benefit Plan and the Parties later determine that they should be allocated in connection with the Separation or Divestment, the Parties shall agree in good faith on the allocation, taking into account the handling of comparable Liabilities under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *<u>SplitCo Indemnification</u>*. In the event that any transfer of Assets and/or Liabilities pursuant to this <u>Section 2.04</u> (each, a "<u>Transfer</u>") is delayed past the time contemplated by this Agreement or otherwise not effectuated in accordance with provisions of this Agreement, the SplitCo Group shall indemnify, defend and hold harmless the members of the Medtronic Group from and against all Liabilities incurred by the Medtronic Group to the extent relating to, arising out of or resulting from such delay or failure, including (A) administrative costs and expenses incurred by the Medtronic Group in connection with retaining or administering any Assets or Liabilities subject to a Transfer that should have been transferred or assumed by the SplitCo Group, and (B) other Liabilities incurred by the Medtronic Group as a result of such delay or failure; <u>provided</u>, that the SplitCo Group shall have no indemnification

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obligation under this <u>Section 2.04(a)</u> to the extent such delay or failure results exclusively from requirements of applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *<u>Medtronic Indemnification</u>*. In the event that any Transfer is delayed past the time contemplated by this Agreement or otherwise not effected in a timely manner as a result of Medtronic's failure to reasonably cooperate with SplitCo or otherwise fulfill its obligations under this <u>Section 2.04</u>, the Medtronic Group shall indemnify, defend and hold harmless the members of the SplitCo Group from and against all Liabilities incurred by the SplitCo Group to the extent relating to, arising out of or resulting from such delay or failure; <u>provided</u>, that the Medtronic Group shall have no indemnification obligation under this <u>Section 2.04(b)</u> to the extent such delay or failure results exclusively from (1) requirements of applicable Law, (2) a required approval or consent from a third party that has not been obtained despite the Medtronic Group's reasonable best efforts, or (3) any act or omission of any member of the SplitCo Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Indemnification Procedures</u>. Any indemnification obligation arising under this <u>Section 2.04</u> shall be subject to, and administered in accordance with, the indemnification procedures set forth in Article VI of the Separation Agreement (including Section 6.04 (*Indemnification Obligations Net of Insurance Proceeds and Third-Party Proceeds*), Section 6.05 (*Procedures for Indemnification of Third-Party Claims*) and Section 6.06 (*Additional Matters*)), which procedures are incorporated herein by reference.

SECTION 2.05. <u>General Treatment of Employee Benefits</u>. The Parties acknowledge and agree that, except as otherwise provided in this Agreement, the Separation Agreement or any Ancillary Agreement or as required by the terms of any Medtronic Benefit Plan or by applicable Law, the Medtronic Group will take all actions necessary or appropriate so that active participation in Medtronic Benefit Plans (other than any equity-compensation plans) by all SplitCo Employees will terminate as of immediately prior to the Standup Date (other than in the case Deferred Market Employees or SplitCo Visa Employees, who shall terminate active participation on Deferred Separation Date or the Deferred Employee Date, respectively) and each member of the SplitCo Group will cease to be a participating employer under the terms of such Medtronic Benefit Plans as of such time.

SECTION 2.06. <u>Non-Termination of Employment or Benefits</u>. Except as otherwise required by applicable Law or an Individual Agreement, neither this Agreement, the Separation Agreement nor any Ancillary Agreement shall be construed to create any right or accelerate any entitlement to any compensation or benefit on the part of any Medtronic Employee, SplitCo Employee, Former Medtronic Employee or Former SplitCo Employee. Without limiting the generality of the foregoing, except as otherwise required by applicable Law or an Individual Agreement, neither the Initial Public Offering, the Second Step Transaction nor the transfers of employment contemplated by <u>Section 2.01</u> shall cause any individual to be deemed to have incurred a termination of employment or to have created any entitlement to any severance payments or benefits or the commencement of any other benefits under any Medtronic Benefit Plan or any SplitCo Benefit Plan. Neither the Initial Public Offering nor the Second Step Transaction shall constitute a "change in control" (or term of similar meaning) for purposes of any Medtronic Benefit Plan or any SplitCo Benefit Plan.

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SECTION 2.07. <u>Power to Amend</u>. Subject to the Parties' compliance with the remaining terms of this Agreement, nothing in this Agreement shall prevent any member of the SplitCo Group or any member of the Medtronic Group from amending, merging, modifying, terminating, eliminating, reducing or otherwise altering in any respect any SplitCo Benefit Plan or Medtronic Benefit Plan, any benefit under any SplitCo Benefit Plan or Medtronic Benefit Plan or any trust, insurance policy or funding vehicle related to any SplitCo Benefit Plan or Medtronic Benefit Plan, as applicable.

SECTION 2.08. <u>No Right to Continued Employment</u>. Nothing contained in this Agreement shall confer any right to continued employment on any Medtronic Employee or SplitCo Employee. Except as otherwise expressly provided in this Agreement, this Agreement shall not limit the ability of any member of the SplitCo Group or any member of the Medtronic Group to change the position, compensation or benefits of any of its employees for performance-related, business or any other reasons or require any such entity to continue the employment of any such employee for any period of time; <u>provided</u>, <u>however</u>, that in the event of any such termination of employment or modification of the terms and conditions of employment, any associated Liabilities shall be SplitCo Employee Liabilities or Medtronic Employee Liabilities, as applicable.

SECTION 2.09. <u>Personnel Records</u>. Transmission, access to, storage, retention and the use of any information and records regarding the employment and personnel matters of the Medtronic Employees, SplitCo Employees, Former Medtronic Employees and Former SplitCo Employees (collectively, "<u>Employment Records</u>") shall be governed by Article VII of the Separation Agreement, except as otherwise explicitly provided herein. The Medtronic Group shall, subject to applicable Law, collect and transfer to the SplitCo Group all Employment Records primarily relating to the SplitCo Employees and Former SplitCo Employees as soon as reasonably practicable following the Standup Date; <u>provided</u>, that (a) the collection and transfer of any Employment Records shall be subject to (i) any restrictions or review and approval procedures required by any Collective Bargaining Agreement or (ii) where the Medtronic Group determines it to be necessary or desirable, review and approval by any works council or other employee representative body; and (b) the Medtronic Group shall not be required to collect and transfer any Employment Records where it determines, in its reasonable discretion, that it is not practical to do so, such as in the case of intermingled hard-copy records. Notwithstanding the foregoing, the Medtronic Group shall retain access to and use of all Employment Records relating to SplitCo Employees through the Divestment Date as reasonably necessary for purposes of administering payroll, benefits, and other employment-related obligations following the Standup Date in compliance with applicable data protection Laws. To the extent any Employment Records are transferred to the SplitCo Group prior to the Divestment Date, the Medtronic Group shall retain copies of such records, and the SplitCo Group shall provide the Medtronic Group with reasonable access to the original Employment Records as necessary for the Medtronic Group to fulfill its payroll and administrative obligations through the Divestment Date. Following the Standup Date, the SplitCo Group may reasonably request the collection and transfer of any additional Employment Records primarily related to the SplitCo Employees and Former SplitCo Employees, and the Medtronic Group shall use commercially reasonable efforts to fulfill any such request, taking into consideration applicable Law, the requirements of any

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Collective Bargaining Agreement, the requirements and requests of any works council or other employee representative body and the effort involved in collecting and transferring such Employment Records, including in separating any intermingled Employment Records. Except where prohibited by applicable Law, the Medtronic Group shall be permitted to retain copies of all Employment Records transferred to the SplitCo Group for the maximum period of time permitted by applicable Law. The SplitCo Group shall indemnify and hold harmless the Medtronic Group from and against any and all Liabilities that arise from the SplitCo Group's possession or use of any transferred Employment Records to the extent caused by the SplitCo Group's breach of this Agreement or applicable Law. The Medtronic Group shall indemnify and hold harmless the SplitCo Group from and against any and all Liabilities that arise from the Medtronic Group's possession or use of Employment Records in violation of this Agreement or applicable Law.

SECTION 2.10. <u>Deferred Markets</u>. Notwithstanding anything to the contrary herein, the Parties will defer until after the Separation Date the transfer of any individual who is employed by a member of the Medtronic Group in a Deferred Market and provides services to the SplitCo Business (a "<u>Deferred Market Employee</u>"), and such Deferred Market Employee shall, until the applicable Deferred Separation Date, remain on Medtronic's payroll and covered by any applicable Medtronic Benefit Plan. Notwithstanding the foregoing, any Deferred Market Employee will be considered a SplitCo Employee for all purposes of this Agreement. The transfer of each Deferred Market Employee shall occur on the applicable Deferred Separation Date in accordance with the terms and conditions set forth in Section 2.07 of the Separation Agreement, and Medtronic and SplitCo shall comply with Section 2.07 of the Separation Agreement with respect to the accrual and allocation of all costs and expenses incurred with respect to any Deferred Market Employee between the Separation Date and the applicable Deferred Separation Date. Unless otherwise specified in this Agreement, for any Deferred Market Employee, references in this Agreement to the "Standup Date" or "Separation Date" shall be treated as references to the applicable Deferred Separation Date. In the event SplitCo (a) directs Medtronic to terminate a Deferred Market Employee prior to such Deferred Market Employee's Deferred Separation Date, or (b)(i) fails to make an offer of employment to a Deferred Market Employee that is a SplitCo Offer Employee as of the applicable Deferred Separation Date in accordance with <u>Section 2.01(b)</u> and (ii) the relevant member of the Medtronic Group terminates such Deferred Market Employee, any Liabilities arising from or incurred in connection with any such termination (including, without limitation, claims for severance and/or any related legal or outside counsel fees and expenses) shall be SplitCo Employee Liabilities. Medtronic shall transfer any SplitCo Assets and SplitCo Employee Liabilities that are assumed by SplitCo in connection with this <u>Section 2.11(b)</u>, and the Parties shall prepare their financial statements with respect to such assumptions, in each case in accordance with GAAP.

<u>SECTION 2.11. Post-Standup Date SplitCo Employee Determination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *<u>Ongoing Determination and Status Change</u>*. Following the date of this Agreement, Medtronic and SplitCo shall cooperate in good faith to (i) determine whether any additional individuals should be deemed "SplitCo Employees" for purposes of this Agreement,

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and (ii) assess whether any individuals previously designated as SplitCo Employees should be removed from, or reclassified within, the SplitCo Business, in each case due to changes in employment status, business assignment, or role and/or function. Such cooperation shall include evaluating individuals who may fall within the categories of employees contemplated by this Agreement, including any individuals whose employment status or business assignment was not finally determined or ascertained as of the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *<u>Process for Schedule Updates; Removals and Reclassifications</u>*. Upon Medtronic and SplitCo's mutual determination that an individual shall be deemed a SplitCo Employee, removed as a SplitCo Employee, or reclassified within the SplitCo Business, the Parties shall (i) update <u>Schedule I</u> attached hereto and any other applicable employee schedules or exhibits to reflect such determination, removal or reclassification within ten (10) Business Days of the Parties' mutual determination, and (ii) cooperate to implement any necessary payroll, tax withholding, employee benefit plan participation, equity compensation adjustments, and records updates with respect to such individual; <u>provided</u>, that with respect to any individual deemed a SplitCo Employee that is a SplitCo Offer Employee, a SplitCo Entity shall also make an offer of employment to commence on a date to be agreed between the Parties that complies with the requirements set forth in, and provide for compensation and benefits on terms that are consistent with, this Agreement. For any such individual, references in this Agreement to the "Standup Date" or "Separation Date" shall be treated as references to the first day and time at which the applicable individual commences employment with the SplitCo Group. The Parties recognize that transfers of Assets and/or Liabilities will require an initial transfer based on data available several months before the Standup Date, followed by one or more "true-up" adjustments to reflect changes between the time of the initial calculation and the effective date of the applicable transfer of any individual deemed a SplitCo Employee pursuant to this <u>Section 2.11</u>. The Parties shall cooperate to determine and effectuate the "true-up" adjustments, with such adjustments for any relevant Medtronic or SplitCo Benefit Plan to be completed in accordance with an agreed schedule that is acceptable to the plans' actuaries and other service providers and in accordance with the terms of <u>Section 2.04</u> hereof, the Separation Agreement and/or the Net Economic Benefit Agreement, as applicable. Medtronic shall transfer any SplitCo Assets and SplitCo Employee Liabilities that are assumed by SplitCo in connection with the true-up adjustments described in this <u>Section 2.11(b)</u>, and the Parties shall prepare their financial statements with respect to such assumptions, in each case in accordance with GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *<u>Periodic Reviews</u>*. For the period commencing on the date hereof and ending on the final Deferred Separation Date, Medtronic shall conduct periodic reviews of the SplitCo Employee Schedules (including <u>Schedules I</u> through <u>II</u> attached hereto) to identify necessary additions, removals and reclassifications, considering current staffing, business needs, and role and/or function assignments (each such review, a "<u>Periodic Review</u>"). Periodic Reviews shall be conducted quarterly (with the first Periodic Review to occur on the date that is six (6) months following the date hereof), unless otherwise agreed by the Parties in writing. In addition to quarterly Periodic Reviews, Medtronic shall conduct an additional Periodic Review within sixty (60) days prior to any Deferred Separation Date to confirm the Schedules are current and accurate as of such date. For each Periodic Review, (i) Medtronic shall provide SplitCo with written notice of each upcoming Periodic Review at least thirty (30) days prior to the

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commencement of such review, and (ii) within fifteen (15) days following such notice, Medtronic shall share with SplitCo a written summary of proposed Schedule updates, which summary shall include: (A) the specific employees proposed to be added to, removed from, or reclassified within the Schedules; (B) the rationale for each proposed change, including reference to the relevant staffing, business need, or role and/or function assignment supporting such change; and (C) the proposed effective date for each change. SplitCo shall have fifteen (15) Business Days following receipt of Medtronic's information to review such information and provide written comments, questions, or proposed modifications to Medtronic. Medtronic shall consider in good faith any comments that SplitCo timely provides during such fifteen (15) Business Day period. The Parties shall use good faith efforts to agree upon the proposed Schedule updates within ten (10) Business Days following Medtronic's receipt of SplitCo's comments. Any agreed-upon updates shall be documented in writing and signed by authorized representatives of both Parties. The updated Schedules shall be deemed to amend and restate the applicable Schedules attached hereto as of the effective date specified in the written agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *<u>Interim Changes; Effective Dates and Administration</u>*. For any changes in the SplitCo Employee population that occur between Periodic Reviews, Medtronic shall use commercially reasonable efforts to notify SplitCo within ten (10) Business Days of any employee departures, role and/or function changes, or other events affecting any SplitCo Employee status and propose corresponding Schedule updates. Medtronic shall have no obligation to implement new tracking systems, modify its existing human resources information systems, change its accounting practices or principles, or otherwise alter its ordinary course business operations or practices to identify or report such changes. Unless otherwise agreed, removals from the SplitCo Business due to departure or role and/or function change shall be effective as of the date such employee ceases to primarily or materially serve the SplitCo Business, and reclassifications within the SplitCo Business shall be effective as of the date the new role and/or function commences. The Parties shall coordinate effective dates for payroll, tax withholding, benefit plan participation, equity award adjustments and records changes to minimize disruption and ensure compliance to the extent reasonably practicable and consistent with Medtronic's existing systems and ordinary course practices, subject to the true-up adjustments described in <u>Section 2.11(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) *<u>Dispute Resolution</u>*. If the Parties cannot agree on (i) whether an individual should be deemed a SplitCo Employee, (ii) whether an individual should be removed from or reclassified within the SplitCo Business, or (iii) the timing or content of the true-up adjustments described in <u>Section 2.11(b)</u> (a "<u>Dispute</u>"), such Dispute shall be resolved in accordance with the terms and conditions set forth in Section 11.02 of the Separation Agreement.

ARTICLE III

<u>Collective Bargaining Agreements</u>

SECTION 3.01. <u>Continuity and Performance of Agreements</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) From and after the Standup Date (or such other date as is required by applicable Law), to the extent one or more members of the SplitCo Group becomes, or may

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become, a successor employer to the applicable member of the Medtronic Group under a SplitCo CBA pursuant to applicable Law or the terms of such SplitCo CBA, then such members hereby agree to become a successor employer to such SplitCo CBA, to comply with, honor and fulfill their obligations under such SplitCo CBA. Subject to the foregoing, such members of the SplitCo Group assume responsibility for, and Medtronic or the relevant member of the Medtronic Group shall cease to be responsible for or to otherwise have any Liability in respect of, such SplitCo CBA to the extent it pertains to any SplitCo Employee on or after the Standup Date; <u>provided</u>, <u>however</u>, that Medtronic shall retain Liabilities related to a SplitCo CBA that arise with respect to periods occurring prior to the Standup Date solely to the extent such Liabilities arose due to Medtronic's material noncompliance with such SplitCo CBA prior to the Standup Date. To the extent the foregoing sentence is not applicable with respect to a SplitCo CBA, then, with respect to the SplitCo Employees subject to such SplitCo CBA, the members of the SplitCo Group shall be responsible for, and shall comply with, all obligations under applicable Law relating to collective bargaining and representation, including any that may be triggered as a result of the transactions contemplated by this Agreement, the Separation Agreement or any Ancillary Agreement, and shall indemnify the members of the Medtronic Group from any failure to so comply and for any obligations to such SplitCo Employees that may arise under the SplitCo CBAs on or after the Standup Date. Notwithstanding the foregoing, in the event the SplitCo Group negotiates, proposes, implements, or otherwise effectuates any modifications, amendments, replacements or terminations of any SplitCo CBA (collectively, "<u>CBA</u> <u>Modifications</u>") following the Standup Date, (i) all such CBA Modifications shall be undertaken in compliance with all applicable labor and employment Laws, including without limitation any required consultation periods, information and consultation procedures, or advance notice requirements; any requirements for union consent, agreement, or good faith bargaining; any regulatory notifications, approvals, or authorizations; and any other procedural or substantive requirements imposed by the labor and employment Laws of the applicable jurisdiction, and (ii) Medtronic and the members of the Medtronic Group shall have no Liability whatsoever for, and SplitCo shall indemnify and hold harmless Medtronic and the members of the Medtronic Group from and against, any and all Liabilities, claims, demands, actions, suits, proceedings, losses, damages, costs, and expenses (including reasonable attorneys' fees) arising out of or relating to (x) any CBA Modifications proposed, negotiated, or implemented by SplitCo or any member of the SplitCo Group after the Divestment Date, (y) any failure by SplitCo or any member of the SplitCo Group to comply with applicable labor and employment Laws in connection with any such CBA Modifications, or (z) any disputes, grievances, unfair labor practice charges, or other proceedings initiated by any labor organization, works council, employee representative body, or SplitCo Employee in connection with any such CBA Modifications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To the extent required by applicable Law, any SplitCo CBA, Medtronic CBA or any other Collective Bargaining Agreement, each Party shall cooperate and consult in good faith to provide notice, engage in consultation and take any similar action which may be required on its part in connection with the Initial Public Offering or the Second Step Transaction.

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ARTICLE IV

<u>Welfare Plans</u>

SECTION 4.01. <u>General</u>. The Parties agree and acknowledge that, except as otherwise provided in any Ancillary Agreement, as of the Standup Date (or such earlier date as agreed between the Parties), one or more members of the SplitCo Group have established or caused to be established Welfare Plans for the benefit of the SplitCo Employees and their dependents, including any Former SplitCo Employees and their dependents (each such plan, a "<u>SplitCo Welfare Plan</u>"). The SplitCo Group shall be responsible for all Liabilities relating to, arising out of or resulting from health and welfare coverage or claims incurred by or on behalf of SplitCo Employees or their dependents under a SplitCo Welfare Plan on or after the Standup Date.

SECTION 4.02. <u>Participation in SplitCo Welfare Plans</u>. The Parties agree and acknowledge that, except as otherwise provided in any Ancillary Agreement, as of the Standup Date (or such earlier date as agreed between the Parties), the SplitCo Employees shall have become eligible to participate in the SplitCo Welfare Plans, subject to the terms of such plans and such other terms as to which the Parties may agree. Except where prohibited by the terms of an insurance agreement required to establish the SplitCo Welfare Plans, the SplitCo Group has caused, or shall cause the SplitCo Welfare Plans to (i) waive all limitations as to preexisting conditions, exclusions, service conditions and waiting period limitations and any evidence of insurability requirements applicable to any SplitCo Employees and their dependents, other than such limitations, exclusions, conditions and requirements that were in effect with respect to such SplitCo Employees as of immediately prior to the date the applicable SplitCo Employee commenced participation in the SplitCo Welfare Plans, in each case under the applicable Medtronic Welfare Plan, and (ii) for SplitCo Welfare Plans established primarily for the benefit of SplitCo employees in the U.S. and Puerto Rico, use commercially reasonable efforts to honor any deductibles, out-of-pocket maximums and co-payments incurred by the SplitCo Employees under the applicable Medtronic Welfare Plan in satisfying the applicable deductibles, out-of-pocket maximums or co-payments under such SplitCo Welfare Plans for the plan year in which the applicable SplitCo Employee commenced participation in the SplitCo Welfare Plans; <u>provided</u>, that there shall be no duplication of benefits for SplitCo Employees under such SplitCo Welfare Plans.

SECTION 4.03. <u>Claims Incurred</u>. For purposes of this Agreement, claims shall be considered to be incurred as follows: (i) medical, vision, dental and/or prescription drug benefits (including hospital expenses), upon provision of the services, materials or supplies comprising any such benefits; and (ii) short-term and long-term disability, life, accidental death and dismemberment and business travel accident insurance benefits, upon the death, illness, injury or accident giving rise to such benefits. For the avoidance of doubt, the SplitCo Group shall be solely and exclusively responsible for all claims incurred under a SplitCo Welfare Plan on or after the Standup Date, and the Medtronic Group shall maintain responsibility for any claims incurred under a Welfare Plan prior to the Standup Date.

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SECTION 4.04. <u>Transition Services</u>. The Parties acknowledge that the Medtronic Group or the SplitCo Group may provide administrative services for certain of the other Party's compensation and benefit plans for a transitional period under the terms of the TSA, which such administrative services shall be governed by, and provided in accordance with, the terms and conditions of the TSA.

SECTION 4.05. <u>No Transfer of Assets Pertaining to Welfare Plans</u>. Nothing in this Agreement shall require any member of the Medtronic Group or any Medtronic Welfare Plan to transfer Assets or reserves with respect to the Medtronic Welfare Plans to any member of the SplitCo Group or any SplitCo Welfare Plan.

ARTICLE V

<u>Pension Plans</u>

SECTION 5.01. <u>General</u>. Medtronic shall take all such actions as may be necessary to ensure that each SplitCo Employee who was actively accruing benefits under a Medtronic OUS Pension Plan immediately prior to the Standup Date (an "<u>Active Participant</u>") shall cease to be an active participant under such Pension Plan effective as of the Standup Date, regardless of whether such SplitCo Employee remains employed in a position that would otherwise be covered by the applicable Medtronic OUS Pension Plan but for the transfer to the SplitCo Group; <u>provided</u>, <u>however</u>, that such cessation of participation shall occur earlier to the extent required under the terms of the applicable Medtronic OUS Pension Plan or applicable Law. SplitCo shall take all such actions as may be necessary to ensure that each Active Participant shall become a participant in one or more plans established or designated by SplitCo which provide pension and/or lump sum benefits on retirement and/or leaving service (collectively, the "<u>SplitCo Pension Plan</u>") effective as of the Standup Date (or such earlier date to the extent required under the terms of the applicable Medtronic OUS Pension Plan or applicable Law). For the avoidance of doubt, the U.S. defined benefit qualified retirement plans, the "Medtronic Retirement Plan" and the "Medtronic Retirement Plan for Certain Participants and Beneficiaries," will remain with Medtronic and no assets or liabilities will be transferred to SplitCo with respect to such plans. References in this <u>Article V</u> to the "Standup Date" shall be treated as references to the "Deferred Separation Date" or the "Deferred Employee Date" in the case of Deferred Market Employees or SplitCo Visa Employees, respectively.

SECTION 5.02. <u>Transferring Pension Plan Assets and Liabilities</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *<u>General</u>*. Where Assets and/or Liabilities of a Medtronic OUS Pension Plan are required to transfer to one or more members of the SplitCo Group or to a SplitCo Pension Plan under applicable Law or the governing documentation of the Medtronic OUS Pension Plan as a result of any of the transactions contemplated by this Agreement, or where a transfer of Assets and/or Liabilities upon any such event is otherwise agreed between the Parties, as set forth, respectively, on <u>Schedule IV</u> or <u>Schedule V</u> hereof, as applicable (in each such case, the applicable Medtronic OUS Pension Plan shall be a "<u>Transferring Pension Plan</u>"), the Parties shall cooperate to ensure that (i) the relevant SplitCo Entity shall provide, or procure the provision of, rights for and in respect of each SplitCo Employee to which such transfer relates which are

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substantially comparable in the aggregate to those for and in respect of each such SplitCo Employee in the relevant Transferring Pension Plan at the effective date of transfer, unless otherwise agreed between the Parties; (ii) if there is to be a transfer of Assets: (A) on or prior to the Standup Date, one or more members of the SplitCo Group shall establish or cause to be established a SplitCo Pension Plan, including any related trust, which is capable of accepting such transfer of Assets; and (B) the amount of Assets to be transferred shall be (x) such amount as is determined in accordance with applicable Law or the governing documentation of the Medtronic OUS Pension Plan; (y) if applicable Law or the governing documentation do not specify an amount, the amount held to or for the benefit of each relevant SplitCo Employee, or (z) if neither (x) nor (y) apply, a proportion of the Assets of the Medtronic OUS Pension Plan which is equal, or referable, to the proportion or allocation of the Liabilities which are being transferred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *<u>Indemnification</u>*. In the event that any transfer of Liabilities and/or Assets pursuant to this <u>Section 5.02</u> occurs after the Standup Date, the SplitCo Group shall indemnify, defend and hold harmless the members of the Medtronic Group and the applicable Transferring Pension Plan from and against all Liabilities incurred by the Medtronic Group or the Transferring Pension Plan relating to, arising out of or resulting from such delayed transfer, but only to the extent such delay is caused by SplitCo's failure to reasonably cooperate with Medtronic or other failure to take actions required of it under this Agreement, including (i) the administrative costs and expenses incurred by the Medtronic Group or the Transferring Pension Plan relating to the continued participation of any SplitCo Employees and each of their beneficiaries in the Transferring Pension Plan after the Standup Date, (ii) other Liabilities incurred by the Medtronic Group or the Transferring Pension Plan as a result of the Medtronic Group permitting the SplitCo Employees and each of their beneficiaries to participate in the Transferring Pension Plan after the Standup Date, (iii) Liabilities incurred by the Medtronic Group or the Transferring Pension Plan as a result of the termination of employment, or changes to the employment terms, of any SplitCo Employee by the SplitCo Group after the Standup Date and (iv) in the event that any transaction contemplated by such arrangement requires the consent of any SplitCo Employee, any payments or benefits that the Medtronic Group makes or provides to such SplitCo Employee in order to obtain such consent, as reasonably determined by the Medtronic Group after consultation with the SplitCo Group. For the avoidance of doubt, the SplitCo Group shall have no indemnification obligation under this <u>Section 5.02</u> to the extent any delay in transfer results exclusively from (A) requirements of applicable Law, (B) a required approval or consent from a third party, or (C) any act or omission of any member of the Medtronic Group.

ARTICLE VI

<u>Defined Contribution Plans</u>

SECTION 6.01. <u>Establishment of SplitCo U.S. Savings Plan</u>. The Parties acknowledge and agree that one or more members of the SplitCo Group has established or caused to be established one or more defined contribution plans and trusts with respect to each Medtronic U.S. Savings Plan for the benefit of the SplitCo Employees (each such plan, a

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"<u>SplitCo U.S. Savings Plan</u>"). The members of the SplitCo Group have taken, or shall take, all necessary and appropriate actions to establish, maintain and administer the SplitCo U.S. Savings Plans so that they qualify under Section 401(a) of the Code and the related trusts thereunder are exempted from U.S. federal income Tax under Section 501(a)(1) of the Code or, to the extent applicable, the applicable provisions of the Internal Revenue Code of Puerto Rico and the regulations and guidance thereunder (the "<u>Puerto Rico Code</u>").

SECTION 6.02. <u>Transfer and Assumption of Liabilities</u>. Subject to the transfer of Assets described in <u>Section 6.03</u>, the Parties acknowledge and agree that, effective as of the Standup Date or such other date to which the Parties have mutually agreed (the "<u>Savings Plan</u> <u>Transfer Date</u>"), members of the SplitCo Group and the applicable SplitCo U.S. Savings Plan have assumed and become solely responsible for all Liabilities under the corresponding Medtronic U.S. Savings Plan for or relating to SplitCo Employees. From and after the Standup Date, the members of the SplitCo Group are responsible for all ongoing rights of or relating to SplitCo Employees for future participation (including the right to make contributions through payroll deductions) in the SplitCo U.S. Savings Plans. SplitCo shall take all necessary action, if any, to qualify the SplitCo U.S. Savings Plans under the applicable provisions of the Code or the Puerto Rico Code and shall make any and all filings and submissions to the appropriate Governmental Authority required to be made by it in connection with the transfer of Assets described in <u>Section 6.03</u>.

SECTION 6.03. <u>Trust to Trust Transfer of Assets</u>. Members of the Medtronic Group have caused, or as soon as practicable following the Standup Date shall cause, the account balances (including outstanding loan balances, if any) in each Medtronic U.S. Savings Plan (or its related trust) attributable to SplitCo Employees to be transferred in cash and in-kind (including participant loans) to the applicable SplitCo U.S. Savings Plan (or its related trust), and members of the SplitCo Group have caused, or shall cause, the applicable SplitCo U.S. Savings Plan (or its related trust) to accept such transfer of account balances (including participant loans), subject in each case to <u>Section 6.04</u>. Such transfers shall be conducted in accordance with applicable Law (including, to the extent applicable, Section 414(l) of the Code, Treasury Regulation Section 1.414(l)-1, Section 208 of ERISA and the Puerto Rico Code). Without limiting the generality of the foregoing, the fiduciaries of the SplitCo U.S. Savings Plans and the Medtronic U.S. Savings Plans shall cooperate in good faith to effect the transfers contemplated by this <u>Section 6.03</u> in an efficient and effective manner and in the best interests of participants and beneficiaries, including determining whether and to what extent any investments held under the Medtronic U.S. Savings Plans (other than participant loans) shall be transferred in-kind or liquidated or remain in the Medtronic U.S. Savings Plan, as will be the case for investments in the Medtronic stock fund, prior to the date of such transfer in order to enable the value of such investments to be transferred to the SplitCo U.S. Savings Plans in cash or cash equivalents.

<u>SECTION 6.04. Plan Fiduciaries</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) For all periods on and after the Standup Date, the Parties agree that the applicable fiduciaries of each of the Medtronic U.S. Savings Plans and the SplitCo U.S. Savings Plan, respectively, shall have the authority with respect to the Medtronic U.S. Savings Plans and

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the SplitCo U.S. Savings Plan, respectively, to determine the investment alternatives, the terms and conditions with respect to those investment alternatives and such other matters as are within the scope of their duties under ERISA and the terms of the applicable plan documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Medtronic and SplitCo shall assume sole responsibility for ensuring that their respective savings plans are maintained in compliance with applicable Laws (including the fiduciary requirements under ERISA) with respect to holding shares of their respective common stock and common stock of the other Party.

SECTION 6.05. <u>Limitation of Liability</u>. For the avoidance of doubt, members of the Medtronic Group shall have no responsibility for any failure of any member of the SplitCo Group to properly administer the SplitCo U.S. Savings Plans in accordance with their terms and applicable Law, including any failure to properly administer the accounts of SplitCo Employees and their respective beneficiaries. For clarity, this does not apply to failures to the extent arising exclusively out of Medtronic's acts or omissions (including the provision of inaccurate, incomplete, or untimely data).

SECTION 6.06. <u>Non-U.S. Defined Contribution Plans</u>. Medtronic shall take all such actions to ensure that each SplitCo Employee who is an active participant in a Medtronic Benefit Plan that is a defined contribution plan for the benefit of employees outside of the United States (each, a "<u>Non-U.S. DC Plan</u>") shall cease active participation in such plan as from the Standup Date. One or more members of the SplitCo Group shall procure that, as of the Standup Date and in compliance with <u>Section 2.03</u> hereof and applicable Law, such SplitCo Employees will be offered participation in a pension plan established or designated by a SplitCo Entity. The Parties shall be under no obligation to effect the transfer of any Liabilities under a Non-U.S. DC Plan attributable to service of SplitCo Employees for the period prior to the Standup Date, except as required by applicable Law or the governing documentation of any Non-U.S. DC Plan, and Medtronic shall continue to be liable for such Liabilities except in relation to any such Liabilities which are transferred from such Non-U.S. DC Plan; <u>provided</u>, that where, in order to comply with applicable Law or the governing documentation of such Non-U.S. DC Plan or with the aim of ensuring compliance with <u>Section 2.03</u> hereof, Medtronic has commenced, or committed to, making any enhanced benefits or other employer-funded contributions or payments to any SplitCo Employee or to any Benefit Plan under or in connection with the SplitCo Employee's membership of any Non-U.S. DC Plan (each a "<u>DC Compliance Payment</u>"), which payment is to be made in installments or on a deferred basis after the Standup Date, one or more members of the SplitCo Group shall, from and after the Standup Date, assume and be obligated to continue making such DC Compliance Payments to the applicable SplitCo Employees in accordance with the payment schedule and amounts that would have been payable absent the Separation. SplitCo shall be solely responsible for any and all Liabilities arising out of or relating to post-Standup Date installments of all DC Compliance Payments, including without limitation (a) any funding obligations or shortfalls, (b) compliance with applicable Law governing the timing, amount, and priority of such payments, (c) all administrative obligations and costs associated with making such payments, and (d) any claims, penalties, or other Liabilities resulting from failure to make such payments when due or in the amounts required; <u>provided</u>, <u>further</u>, that Medtronic shall remain responsible for any portion of such DC Compliance Payments that are settled or required

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to be settled prior to the Standup Date in accordance with applicable Law, the terms of any relevant Benefit Plan or otherwise. References in this <u>Article VI</u> to the "Standup Date" shall be treated as references to the "Deferred Separation Date" or the "Deferred Employee Date" in the case of Deferred Market Employees or SplitCo Visa Employees, respectively.

ARTICLE VII

<u>Equity-Based Incentive Compensation Awards</u>

SECTION 7.01. <u>SplitCo Stock Plan</u>. Prior to the Separation Date, the SplitCo Group shall adopt, establish and maintain an equity compensation plan (the "<u>SplitCo Stock</u> <u>Plan</u>"); <u>provided</u>, that the SplitCo Group shall not grant any equity-based incentive compensation awards pursuant to the SplitCo Stock Plan or otherwise prior to the Divestment Date without Medtronic's prior written consent.

SECTION 7.02. <u>Restricted Share Unit Awards</u>. Effective as of the Separation Date, (a) each Medtronic RSU Award that is outstanding and unvested as of immediately prior to the Separation Date and held by a SplitCo Employee shall be converted, as of the Separation Date, into a SplitCo restricted share unit award granted under the SplitCo Stock Plan (a "<u>SplitCo</u> <u>RSU Award</u>"), with such number of shares of SplitCo Common Stock subject to the SplitCo RSU Award equal to the number of Medtronic Parent Ordinary Shares subject to the Medtronic RSU Award as of immediately prior to the Separation Date multiplied by the Conversion Ratio, and (b) all Medtronic Dividend Equivalent Units if any, accrued but unpaid as of immediately prior to the Separation Date with respect to each such Medtronic RSU Award shall be converted into SplitCo Dividend Equivalent Units, with the number of SplitCo Dividend Equivalent Units equal to the number of Medtronic Dividend Equivalent Units as of immediately prior to the Separation Date multiplied by the Conversion Ratio, with such SplitCo RSU Award and SplitCo Dividend Equivalent Units collectively rounded to the nearest whole share, and such converted SplitCo Dividend Equivalent Units shall be assumed by SplitCo and become an obligation in connection with the applicable SplitCo RSU Award. Each SplitCo RSU Award and SplitCo Dividend Equivalent Unit shall have substantially the same terms and conditions (including with respect to vesting) as the corresponding Medtronic RSU Award or Medtronic Dividend Equivalent Unit, as applicable, to which it relates, except as provided herein, and shall continue to vest based on continued service with the SplitCo Group.

SECTION 7.03. <u>Performance Share Unit Awards</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Effective as of the Separation Date, (i) each Medtronic PSU Award that is outstanding and unvested as of immediately prior to the Separation Date and held by a SplitCo Employee shall be converted, as of the Separation Date, into a SplitCo RSU Award, with such number of shares of SplitCo Common Stock subject to the SplitCo RSU Award equal to (1) the number of Medtronic Parent Ordinary Shares subject to the Medtronic PSU Award as of immediately prior to the Separation Date assuming achievement of performance targets based on (x) in the case of the Medtronic 2025 PSU Awards, the projected level of performance as of the Separation Date, as determined by the Compensation and Talent Committee of the Medtronic Board, and (y) in the case of the Medtronic 2026 PSU Awards, the target level of performance,

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multiplied by (2) the Conversion Ratio, and (ii) all Medtronic Dividend Equivalent Units, if any, accrued but unpaid as of immediately prior to the Separation Date with respect to each such Medtronic PSU Award shall be converted into SplitCo Dividend Equivalent Units, with the number of SplitCo Dividend Equivalent Units equal to the number of Medtronic Dividend Equivalent Units as of immediately prior to the Separation Date multiplied by the Conversion Ratio, with such SplitCo RSU Award and SplitCo Dividend Equivalent Units collectively rounded to the nearest whole share, and such converted SplitCo Dividend Equivalent Units shall be assumed by SplitCo and become an obligation in connection with the applicable SplitCo RSU Award. Each SplitCo RSU Award and SplitCo Dividend Equivalent Unit shall have substantially the same terms and conditions (including with respect to vesting, except that such award shall not be subject to any performance-based vesting conditions) as the corresponding Medtronic PSU Award or Medtronic Dividend Equivalent Unit, as applicable, to which it relates, except as provided herein, and shall continue to vest based on continued service with the SplitCo Group. Any SplitCo RSU Award that was converted from a Medtronic PSU Award that is subject to an existing deferral election shall continue to be subject to such election and, following the applicable vesting date, shall be credited to the applicable participant's account as an award of deferred stock units settled in stock relating to shares of SplitCo Common Stock (a "<u>SplitCo</u> <u>DSU Award</u>") under the applicable SplitCo Nonqualified Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As of the Separation Date, each Medtronic 2024 PSU Award that is outstanding and unvested as of immediately prior to the Separation Date held by any SplitCo Employee as of the Separation Date shall remain denominated in Medtronic Parent Ordinary Shares and continue to be eligible to vest based on such SplitCo Employee's continued service with the Medtronic Group or the SplitCo Group, as applicable, through the vesting date, and the actual level of performance through the Medtronic 2026 fiscal year, as determined by the Compensation and Talent Committee of the Medtronic Board. Medtronic may adjust the terms of the Medtronic 2024 PSU Award as Medtronic determines, in its sole discretion, to be appropriate to preserve the intrinsic value of such awards as of immediately prior to and immediately following the Separation Date, which adjustment shall not result in any Liability to the SplitCo Group. Medtronic shall retain all Liabilities with respect to each such Medtronic 2024 PSU Award, other than those that are subject to an existing deferral election under the CAP, and shall settle each such vested Medtronic 2024 PSU Award that is not subject to an existing deferral election in Medtronic Parent Ordinary Shares. Following vesting of the Medtronic 2024 PSU Awards in accordance with the Medtronic Stock Plans (which vesting is expected to occur in April 2026), (A) each Medtronic 2024 PSU Award that is subject to an existing deferral election under the CAP shall be converted into a SplitCo DSU Award, with the number of shares of SplitCo Common Stock subject to the SplitCo DSU Award equal to (x) the number of Medtronic Parent Ordinary Shares earned pursuant to such Medtronic 2024 PSU Award (as determined in accordance with the first sentence of this <u>Section 7.03(b)</u>), multiplied by (y) the Conversion Ratio, and (B) all Medtronic Dividend Equivalent Units, if any, accrued but unpaid as of immediately prior to the Separation Date with respect to each such Medtronic 2024 PSU Award subject to an existing deferral election under the CAP shall be converted into SplitCo Dividend Equivalent Units, with the number of SplitCo Dividend Equivalent Units equal to the number of Medtronic Dividend Equivalent Units as of immediately prior to the Separation Date multiplied by the Conversion Ratio, with such SplitCo DSU Award and SplitCo Dividend Equivalent Units

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collectively rounded to the nearest whole share, and such converted SplitCo Dividend Equivalent Units shall be assumed by SplitCo and become an obligation in connection with the applicable SplitCo DSU Award. All SplitCo DSU Awards and accrued but unpaid SplitCo Dividend Equivalent Units shall be credited to the participant's account under the applicable SplitCo Nonqualified Plan as soon as reasonably practicable following the vesting date of such Medtronic 2024 PSU Awards.

SECTION 7.04. <u>Deferred Share Awards</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Effective as of the Separation Date, each Medtronic DSU Award (including any Medtronic Deferred PSU Award for which the applicable performance period ended prior to the Medtronic 2026 fiscal year) and that has been settled and credited to a participant's account under the CAP as a Medtronic DSU Award shall be converted, as of the Separation Date, into a SplitCo DSU Award, with the number of shares of SplitCo Common Stock subject to the SplitCo DSU Award equal to (i) the number of Medtronic Parent Ordinary Share units subject to the Medtronic DSU Award as of immediately prior to the Separation Date, multiplied by (ii) the Conversion Ratio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The SplitCo Group shall cause the applicable SplitCo Nonqualified Plan to recognize and maintain all deferral and distribution elections and beneficiary designations made by SplitCo Employees with respect to Medtronic DSU Awards, including as set forth in <u>Section 7.04(a)</u> and <u>(b)</u>, unless and until such time as a new election that by its terms supersedes the original election is made by the applicable SplitCo Employee in accordance with applicable Law (including Section 409A of the Code) and the terms and conditions of the applicable SplitCo Nonqualified Plan. The conversion of Medtronic DSU Awards pursuant to this <u>Section 7.04</u> shall be automatic and mandatory, and no action by, or consent of, the holder of any such award shall be required to effectuate such conversion. No holder of a Medtronic DSU Award shall have any discretion to elect an alternative treatment with respect to such award. The treatment of Medtronic DSU Awards under this <u>Section 7.04</u> shall be coordinated with the provisions of <u>Article IX</u> (Non-Qualified Deferred Compensation), and the SplitCo Group shall assume all Liabilities and obligations with respect to SplitCo Employees under the CAP relating to Medtronic DSU Awards, which Liabilities and obligations shall be transferred to and administered under the applicable SplitCo Nonqualified Plans in accordance with <u>Section 9.01(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Parties acknowledge that none of the transactions contemplated by this Agreement, the Separation Agreement or any Ancillary Agreement shall trigger a payment or distribution of compensation of the Medtronic DSU Awards (including Medtronic Deferred PSU Awards) and, consequently, the payment or distribution of any compensation to which any such participant is entitled under such award shall occur only upon such participant's separation from service from the SplitCo Group, as applicable, or at such other time as provided pursuant to the terms of the applicable award.

SECTION 7.05. <u>Option Awards</u>. With respect to each Medtronic Option Award that is outstanding and unvested as of immediately prior to the Separation Date and held by any SplitCo Employee as of the Separation Date, Medtronic shall cause such Medtronic Option

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Award to be vested as of immediately prior to the Separation Date, and such Medtronic Option Award shall remain denominated in Medtronic Parent Ordinary Shares. In consideration for such acceleration of vesting with respect to the unvested portion of outstanding Medtronic Option Awards, the term of each Medtronic Option Award held by any SplitCo Employee, whether vested or unvested as of immediately prior to the Separation Date, shall be shortened to the earlier of (a) five (5) years from the Separation Date and (b) the remaining term of such Medtronic Option Award. Medtronic may further adjust the terms of the Medtronic Option Award as Medtronic determines, in its sole discretion, to be appropriate to preserve the intrinsic value of such awards as of immediately prior to and immediately following the Separation Date, which adjustment shall not result in any Liability to the SplitCo Group. Medtronic shall retain all Liabilities with respect to each such Medtronic Option Award.

SECTION 7.06. <u>Equity Awards Granted in Certain Non-U.S. Jurisdictions</u>. Notwithstanding the foregoing provisions of this <u>Article VII</u>, the provisions of this <u>Article VII</u> may be modified by the Parties to the extent necessary to address legal, regulatory or Tax issues or requirements and/or to avoid undue cost or administrative burden arising out of the application of this <u>Article VII</u> to equity-based incentive compensation awards subject to non-U.S. Laws, including in the case of Deferred Market Employees.

SECTION 7.07. <u>Settlement; Tax Reporting and Withholding</u>. Upon the vesting, payment or settlement, as applicable, of SplitCo RSU Awards, SplitCo shall be solely responsible for ensuring the satisfaction of all applicable Tax withholding requirements on behalf of each SplitCo Employee and shall be responsible for all income Tax reporting in respect of SplitCo RSU Awards. Medtronic shall be solely entitled to claim all income Tax deductions arising from vesting, settlement, exercise, or other payment of compensation in respect of Retained Medtronic Awards, and SplitCo shall not claim, and shall cause each SplitCo Group member not to claim, any Tax deduction with respect to Retained Medtronic Awards. SplitCo shall, and shall cause each SplitCo Group member to, cooperate with Medtronic to ensure Medtronic receives all information, documentation, and reporting necessary to claim applicable Tax deductions with respect to Retained Medtronic Awards, including timely provision of settlement data, Tax withholding data, and participant compensation information. If Retained Medtronic Awards are administered through SplitCo's platform pursuant to <u>Section 7.08</u> hereof, SplitCo shall issue all required Tax reporting forms (including Forms W-2, 1099, or applicable non-U.S. equivalents) clearly identifying Medtronic (or the applicable Medtronic Group member) as the entity entitled to the associated Tax deduction. For U.S. federal income Tax purposes, Medtronic (or the applicable Medtronic Group member) shall be treated as the "employer" within the meaning of Section 3401(d) of the Code with respect to Retained Medtronic Awards, and SplitCo (or the applicable SplitCo Group member) shall be treated as Medtronic's agent for Tax withholding and reporting obligations to the extent SplitCo administers such awards pursuant to <u>Section 7.08</u>.

SECTION 7.08. <u>Administrative Arrangements</u>. The administrative arrangements for Retained Medtronic Awards shall be mutually determined and agreed. The Parties may, by mutual agreement, elect to administer the Retained Medtronic Awards through (a) Medtronic's existing equity compensation systems and service providers, (b) SplitCo's equity compensation

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platform and service providers, or (c) such other arrangement as mutually agreed (the "<u>Administrative Model</u>"). The Parties shall determine the Administrative Model no later than sixty (60) days prior to the Separation Date, or such later date as mutually agreed. In the event the Retained Medtronic Awards are administered through SplitCo's platform, SplitCo shall, upon vesting, payment, settlement, or exercise of such Retained Medtronic Awards: (i) calculate and withhold all applicable Taxes in accordance with applicable Law and the Medtronic Stock Plans, (ii) timely remit all withheld Taxes to applicable Governmental Authorities, (iii) facilitate delivery of Medtronic Parent Ordinary Shares to participants (or process cashless exercise transactions), and (iv) provide Medtronic timely notice and documentation of all such transactions. Medtronic shall provide SplitCo with Medtronic Parent Ordinary Shares (or cash, as mutually agreed) necessary to satisfy settlement obligations in advance of settlement dates or on such other timeline as mutually agreed.

SECTION 7.09. <u>Retained Medtronic Award Liabilities</u>. Medtronic shall retain all Liabilities with respect to the Retained Medtronic Awards; <u>provided</u>, that if SplitCo (or any SplitCo Group member) administers Retained Medtronic Awards pursuant to <u>Section 7.08</u> hereof, SplitCo shall indemnify, defend, and hold harmless the Medtronic Group from all Liabilities arising from any failure by SplitCo to (a) properly calculate, withhold, remit, or report Taxes with respect to Retained Medtronic Awards, including any penalties, interest, or additional Taxes imposed on Medtronic, any Medtronic Group member, or any participant, (b) comply with applicable securities Laws, Tax Laws, data protection Laws, or other legal requirements in administering Retained Medtronic Awards, or (c) timely or accurately process exercises, settlements, vesting events, or other transactions with respect to Retained Medtronic Awards, including any damages, costs, or expenses incurred by Medtronic, any Medtronic Group member, or any participant.

SECTION 7.10. <u>Registration and Other Regulatory Requirements</u>. SplitCo shall file a registration statement on Form S-8 with respect to the shares of SplitCo Common Stock authorized for issuance under the SplitCo Stock Plan on the Separation Date. The Parties shall take such additional actions as are deemed necessary or advisable to effectuate the foregoing provisions of this <u>Article VII</u>, including compliance with securities Laws and other legal requirements associated with equity compensation awards in affected non-U.S. jurisdictions. The adjustments set forth above, as determined by and subject in all cases to the approval of the Medtronic Board and the Compensation and Talent Committee of the Medtronic Board, pursuant to their authority under the applicable Medtronic Stock Plan, shall be the sole adjustments made with respect to the Medtronic equity-based awards in connection with the transactions contemplated by this Agreement, the Separation Agreement or any Ancillary Agreement.

ARTICLE VIII

<u>Certain Other Arrangements</u>

SECTION 8.01. <u>Annual Incentive Awards</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Medtronic shall retain all Liabilities for any annual cash incentive compensation payable to eligible SplitCo Employees in respect of the Medtronic 2025 fiscal

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year, which amounts shall be paid in the ordinary course of business in accordance with the terms and conditions of the applicable plans and consistent with Medtronic's policies and procedures as in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The SplitCo Group shall assume all Liabilities for any cash incentive compensation payable under any Medtronic Benefit Plan or SplitCo Benefit Plan in respect of the portion of the 2026 fiscal year following the Standup Date with respect to the SplitCo Employees, and the Medtronic Group shall have no Liability in respect of such annual incentives; <u>provided</u>, that one or more members of the SplitCo Group shall, from and after the Standup Date, assume and be obligated to make such cash incentive compensation payments in respect of the entire 2026 fiscal year to the applicable SplitCo Employees in accordance with the payment schedule and amounts that would have been payable absent the Separation and pursuant to the applicable Medtronic Benefit Plan or SplitCo Benefit Plan. SplitCo shall be solely responsible for any and all Liabilities arising out of or relating to such payment, including without limitation (i) all administrative obligations and costs associated with making such payments, and (ii) any claims, penalties, or other Liabilities resulting from failure to make such payments when due or in the amounts required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) References in this <u>Article VI</u> to the "Standup Date" shall be treated as references to the "Deferred Separation Date" or the "Deferred Employee Date" in the case of Deferred Market Employees or SplitCo Visa Employees, respectively.

SECTION 8.02. <u>Long-Term Cash Incentive Awards</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The SplitCo Group shall assume all Liabilities for any long-term cash incentive awards granted under any Medtronic Benefit Plan that are outstanding as of the Separation Date and held by SplitCo Employees, including any such awards subject to cliff vesting requirements. Such awards shall continue to vest and be settled in accordance with their original terms and conditions as set forth in the applicable Medtronic Benefit Plan, except that vesting shall be based on continued service with the SplitCo Group following the Separation Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Following the Separation Date, any long-term cash incentive awards assumed by the SplitCo Group pursuant to this <u>Section 8.02</u> shall be paid through the SplitCo Group's payroll systems upon vesting in accordance with the terms and conditions of the applicable Medtronic Benefit Plan and the SplitCo Group's policies and procedures as in effect from time to time. The Medtronic Group shall have no Liability in respect of any long-term cash incentive awards assumed by the SplitCo Group pursuant to this <u>Section 8.02</u>.

SECTION 8.03. <u>Restrictive Covenants in Individual Agreements</u>. To the extent permitted under applicable Law, following the Standup Date, the SplitCo Group shall be considered to be successors to the Medtronic Group for purposes of all agreements containing restrictive covenants (including confidentiality provisions) between the Medtronic Group and any SplitCo Employee executed prior to the Standup Date such that the Medtronic Group and the SplitCo Group shall each enjoy the rights and benefits under such agreements, with respect to their respective business operations; <u>provided</u>, <u>however</u>, that (a) in no event shall the Medtronic

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Group be permitted to enforce any restrictive covenants against any SplitCo Employees (determined as of the Standup Date) solely with respect to their services in their capacity as employees of the SplitCo Group and (b) in no event shall the SplitCo Group be permitted to enforce any restrictive covenants against any Medtronic Employees (determined as of the Standup Date) solely with respect to their services in their capacity as employees of the Medtronic Group.

SECTION 8.04. <u>Severance</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Without limiting the generality of the definition of SplitCo Employee Liabilities, any severance that becomes payable prior to, on or after the Standup Date (including any severance or termination-related Liabilities arising due to failure of a SplitCo Employee to continue employment on or after the Separation other than in the case of Refusal Employees) to (i) any SplitCo Employee (including SplitCo Leave Employees) or (ii) any Former SplitCo Employee, in each case, under any severance plan, program, agreement or arrangement (whether of the Medtronic Group, the SplitCo Group or otherwise) shall be a SplitCo Employee Liability, and the Medtronic Group shall have no Liability in respect of such severance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding anything herein to the contrary, the Parties agree to the allocation of certain severance and termination-related Liabilities expected to arise prior to the Separation in accordance with and pursuant to the terms and principles set forth on <u>Schedule III</u> to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) It is not intended that any Medtronic Employee or SplitCo Employee will be eligible for severance payments from the Medtronic Group or the SplitCo Group as a result of the transfer or change of employment from the Medtronic Group to the SplitCo Group or from the SplitCo Group to the Medtronic Group or the occurrence of the Initial Public Offering or the Second Step Transaction; <u>provided</u> that in the event any Liabilities are incurred as a result of any claim for severance or other similar payments or benefits incurred in connection with any such transfer or change of employment or the occurrence of the Initial Public Offering or the Second Step Transaction, such Liabilities shall be Medtronic Employee Liabilities to the extent relating to a Medtronic Employee or Former Medtronic Employee, or SplitCo Employee Liabilities to the extent relating to a SplitCo Employee or Former SplitCo Employee, as applicable.

SECTION 8.05. <u>SplitCo Employee Stock Purchase Plan</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Prior to the Separation Date, the SplitCo Group shall adopt, establish and maintain an employee stock purchase plan (the "<u>SplitCo ESPP</u>") that will provide benefits that are similar to those provided under the Medtronic ESPP immediately before the Separation Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The administrator of the Medtronic ESPP shall take all actions necessary and appropriate to provide that all payroll deductions and other contributions of the participants in the Medtronic ESPP who are SplitCo Employees and Former SplitCo Employees shall cease on or before the Standup Date. Any accumulated contributions of SplitCo Employees and Former SplitCo Employees that remain in such participants' accounts under the Medtronic ESPP as of

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the Standup Date, if any, shall be returned to such participant as promptly as practicable (but no later than thirty (30) Business Days) following the Standup Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Medtronic shall retain the Medtronic ESPP and except as provided in this Agreement, the SplitCo Group assumes no liability with respect to, and receives no right or interest in, the Medtronic ESPP. Medtronic assumes no liability with respect to, and receives no right or interest in, the SplitCo ESPP.

SECTION 8.06. <u>Individual Agreements</u>. To the extent necessary, Medtronic shall assign, or cause an applicable member of the Medtronic Group to assign, to SplitCo or another member of the SplitCo Group, as designated by SplitCo, all Individual Agreements (including, without limitation, any retention agreements or other agreements providing for payments, benefits, or other obligations following the Standup Date), with such assignment to be effective as of no later than the Standup Date; <u>provided</u>, <u>however</u>, that to the extent that assignment of any such Individual Agreement is not permitted by the terms of such agreement or by applicable Law, effective as of the Standup Date, each member of the SplitCo Group shall be considered to be a successor to each member of the Medtronic Group for purposes of, and a third-party beneficiary with respect to, such Individual Agreement, such that each member of the SplitCo Group shall enjoy all the rights and benefits under such agreement (including rights and benefits as a third-party beneficiary). Effective as of the Standup Date, SplitCo shall, or shall cause an applicable member of the SplitCo Group to, assume and honor any Individual Agreement to the extent assigned to such member of the SplitCo Group pursuant to this <u>Section 8.06</u>, including, without limitation, all obligations to make payments (including retention payments), provide benefits, and bear all costs and expenses arising under or in connection with such Individual Agreements, whether such obligations arise before, on, or after the Standup Date. From and after the Standup Date, SplitCo shall be solely responsible for all such obligations, payments, costs, and Liabilities under the Individual Agreements, and Medtronic and the other members of the Medtronic Group shall have no further obligations or Liabilities with respect thereto.

SECTION 8.07. <u>Director Compensation</u>. The Medtronic Group shall be responsible for the payment of any fees for service on the Medtronic Board, and the SplitCo Group shall not have any responsibility for any such payments. With respect to any SplitCo non-employee director, the SplitCo Group shall be responsible for the payment of any fees for service on the SplitCo Board that are earned at any time after the Separation Date and Medtronic shall not have any responsibility for any such payments. Notwithstanding the foregoing, SplitCo shall commence paying quarterly cash retainers to SplitCo non-employee directors in respect of the quarter in which the Separation Date occurs; <u>provided</u>, that (a) if Medtronic has already paid such quarter's cash retainers to non-employee members of the Medtronic Board prior to the Separation Date, then within thirty (30) days after the Separation Date, SplitCo shall pay Medtronic an amount equal to the portion of such payment that is attributable to non-employee directors' service to SplitCo after the Separation Date, and (b) if Medtronic has not yet paid such quarter's cash retainers to Medtronic non-employee directors prior to the Separation Date, then within thirty (30) days after the Separation Date, Medtronic shall pay SplitCo an amount equal to the portion of such payment that is attributable to non-employee directors' service to Medtronic on and prior to the Separation Date.

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SECTION 8.08. <u>Vacation and Other Paid Time Off</u>. Effective as of the Standup Date, a member of the SplitCo Group shall assume any Liability for vacation and other paid time-off benefits accrued or earned (but not yet taken) by the SplitCo Employees as of immediately prior to the Standup Date (after taking into account any such benefits that are forfeited on the Standup Date under the applicable policy of the Medtronic Group) or accrued or earned by SplitCo Employees thereafter, and shall be obligated to reimburse the members of the Medtronic Group with respect to required payments to the SplitCo Employees by the Medtronic Group in lieu of such vacation or other paid time-off benefits pursuant to applicable Law or any SplitCo CBA.

ARTICLE IX

<u>Non-Qualified Deferred Compensation</u>

SECTION 9.01. <u>Treatment of Medtronic Non-Qualified Plans</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *<u>Establishment of SplitCo Nonqualified Deferred Compensation Plans</u>*. As of the Standup Date, the SplitCo Group shall establish and maintain nonqualified deferred compensation plans substantially in the form of, and with terms and conditions that are, in all material respects, the same as the Medtronic Capital Accumulation Plan ("<u>CAP</u>") and the Medtronic Nonqualified Retirement Plan Supplement ("<u>NRPS</u>") (collectively, the "<u>SplitCo</u> <u>Nonqualified Plans</u>"), for the benefit of SplitCo Employees who participated in the CAP or NRPS, as applicable, immediately prior to the Standup Date. To the extent permitted or required by applicable Law, the SplitCo Group shall cause the SplitCo Nonqualified Plans to recognize and maintain, to the extent applicable, all elections (including distribution and investment elections) and beneficiary designations made by SplitCo Employees with respect to liabilities transferred from the Medtronic CAP and Medtronic NRPS, until such time as a new election that by its terms supersedes the original election is made by the applicable SplitCo Employee in accordance with applicable Law and the terms and conditions of the SplitCo Nonqualified Plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *<u>Liability Transfer</u>*. Effective as of the Standup Date, the SplitCo Group shall assume all Liabilities and obligations with respect to SplitCo Employees (but not for Former SplitCo Employees) under the CAP and NRPS, and such Liabilities and obligations shall be transferred to and administered under the SplitCo Nonqualified Plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *<u>NRPS Present Value Determination</u>*. To the extent that any NRPS benefit or portion thereof must be converted to a present value in connection with the transfer to the SplitCo Nonqualified Plans, the present value shall be determined by Medtronic, in its sole discretion, in accordance with the terms of the applicable plan and in a manner consistent with past practice and applicable law. The Parties agree to cooperate in good faith to facilitate the calculation and transfer of such present value amounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *<u>NRPS FICA Tax Liability and Withholding</u>*. The Parties acknowledge that, in connection with the transfer of NRPS Liabilities to the SplitCo Nonqualified Plans, the payment of Federal Insurance Contributions Act ("<u>FICA</u>") Taxes attributable to SplitCo Employees may be required. Any such FICA Tax liability that arises as a result of the transfer shall be withheld

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and remitted by the SplitCo Group following the Standup Date, and, to the extent required, shall be withheld from the compensation or other payments made to the affected SplitCo Employees by the SplitCo Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) *<u>Coordination with Other Plans</u>*. The SplitCo Nonqualified Plans shall coordinate with the SplitCo U.S. Savings Plan and any other applicable SplitCo retirement or savings plans, as appropriate, and shall not coordinate with any Medtronic qualified defined benefit pension plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) *<u>No Distributions</u>*. The Parties acknowledge that none of the transactions contemplated by this Agreement, the Separation Agreement or any Ancillary Agreement shall trigger a payment or distribution of compensation under the NRPS or the CAP and, consequently, the payment or distribution of any compensation to which any such participant is entitled under such plan shall occur only upon such participant's separation from service from the SplitCo Group, as applicable, or at such other time as provided pursuant to the terms of the applicable plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) *<u>Miscellaneous</u>*. No assets shall be transferred from Medtronic to the SplitCo Group in connection with the transfer of liabilities under the CAP or NRPS. The Parties shall cooperate in good faith to provide all necessary information and documentation to effectuate the establishment and administration of the SplitCo Nonqualified Plans.

ARTICLE X

<u>[Reserved]</u>

SECTION 10.01. <u>Reserved</u>.

ARTICLE XI

<u>Cooperation; Payroll Services; Liabilities/Assets and Actions; Access to Information;</u> <u>Confidentiality; Tax Deductions; Indemnification</u>

SECTION 11.01. <u>Cooperation</u>. Following the date of this Agreement, the Parties shall, and shall cause their respective Subsidiaries to, use commercially reasonable efforts to cooperate with respect to any employee compensation or benefits matters that either Party reasonably determines require the cooperation of the other Party in order to accomplish the objectives of this Agreement; <u>provided</u>, that Medtronic shall determine in its sole discretion which (if any) Tax or securities filings, rulings or other actions to pursue prior to the Divestment Date regarding the treatment of Medtronic equity-based awards in connection with the Second Step Transaction; <u>provided</u>, <u>further</u>, that any Liabilities that may be incurred as a result of the Parties taking or failing to take any such actions (including in respect of the continuing service credit provided under <u>Section 10.01</u>) shall be SplitCo Employee Liabilities or Medtronic Employee Liabilities, as applicable, unless the Parties otherwise agree. Without limiting the generality of the preceding sentence, the Parties shall cooperate (a) in connection with any audits of any Benefit Plan with respect to which such Party may have Information, (b) in connection

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with any audits of their respective payroll services (whether by a Governmental Authority in the United States or otherwise) in connection with the services provided by one Party to the other Party, (c) in connection with administering the Medtronic Benefit Plans and SplitCo Benefit Plans, (d) in good faith in connection with notifications to and consultations with works councils, labor unions and other employee representative bodies of employees of the Medtronic Group and the SplitCo Group, (e) in connection with tax reporting and withholding matters, including by: (i) promptly sharing Information regarding employee compensation, benefits, equity awards, and other payments that may be subject to tax reporting or withholding obligations in any jurisdiction; (ii) coordinating their respective tax reporting and withholding positions to ensure consistency in the treatment of employee compensation and benefits matters across both Groups; (iii) providing timely notice to the other Party of any proposed tax reporting or withholding position that may affect employees or former employees of the other Party or that may be inconsistent with positions taken or proposed to be taken by the other Party; and (iv) consulting in good faith to resolve any inconsistencies or conflicts in their respective tax reporting and withholding positions before filing any applicable tax returns or reports; (f) in taking commercially reasonable efforts to avoid duplicated tax liabilities, including by: (i) promptly notifying the other Party of any actual or potential duplicated tax liability, assessment, or claim that may arise in connection with employee compensation or benefits matters; (ii) sharing Information and coordinating strategies to prevent, minimize, or eliminate any duplicated tax liabilities that may be imposed on employees, former employees, or either Party; (iii) cooperating in good faith to determine which Party should bear responsibility for any unavoidable duplicated tax liability in accordance with the principles set forth in this Agreement; and (iv) taking reasonable steps to claim available foreign tax credits, treaty benefits, or other relief mechanisms to mitigate duplicated tax liabilities; and (g) in connection with any other matters reasonably necessary to effectuate the purposes of this <u>Section 11.01</u>. The obligations of the Medtronic Group and the SplitCo Group to cooperate pursuant to this <u>Section 11.01</u> shall remain in effect until the later of (i) the date all audits of all Benefit Plans of one Party with respect to which the other Party may have Information have been completed and (ii) the date the applicable statute of limitations with respect to such audits has expired. The Medtronic Group and the SplitCo Group shall indemnify, defend and hold harmless the members of the SplitCo Group or the members of the Medtronic Group, as applicable, from and against any and all Liabilities incurred by the SplitCo Group or the Medtronic Group, as applicable, that arise out of or result from the failure of the Medtronic Group or the SplitCo Group (or successor employer), as applicable, to provide the cooperation described in this <u>Section 11.01</u> on a timely basis.

SECTION 11.02. <u>Payroll Services</u>. Subject to the obligations of the Parties as set forth in the TSA, as of the Standup Date (or such earlier date as agreed between the Parties, the "<u>Payroll Transition Date</u>"), (a) the members of the SplitCo Group shall be solely responsible for providing payroll services (including for any payroll period already in progress) to the SplitCo Employees and for any Liabilities with respect to garnishments of the salary and wages thereof and (b) the members of the Medtronic Group shall be solely responsible for providing payroll services (including for any payroll period already in progress) to the Medtronic Employees and Former Medtronic Employees and for any Liabilities with respect to garnishments of the salary and wages thereof. The Parties acknowledge and agree that the Payroll Transition Date may vary by jurisdiction or SplitCo Employee population to align with applicable pay period cycles, the

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Fair Labor Standards Act (FLSA) workweek requirements, or other operational considerations, and that SplitCo may assume payroll responsibility for certain SplitCo Employees prior to the Standup Date. Notwithstanding any earlier Payroll Transition Date, the Standup Date shall remain the effective date for all other purposes under this Agreement unless otherwise expressly provided herein.

SECTION 11.03. <u>Liabilities/Assets and Actions</u>. Any Liabilities to be assumed or retained by the SplitCo Group (including as set forth in <u>Schedule V</u> hereof) or the Medtronic Group pursuant to this Agreement shall be, respectively, SplitCo Employee Liabilities and Medtronic Employee Liabilities, in each case, as defined in, and for purposes of, the Separation Agreement. Any Assets to be transferred to or retained by the SplitCo Group (including as set forth in <u>Schedule IV</u> hereof) or the Medtronic Group pursuant to this Agreement shall be, respectively, SplitCo Assets and Medtronic Assets, in each case, as defined in, and for purposes of, the Separation Agreement. Any Actions relating to Benefit Plans, Medtronic Employees, SplitCo Employees, Former Medtronic Employees and Former SplitCo Employees shall be governed by Section 6.12 of the Separation Agreement.

SECTION 11.04. <u>Access to Information; Confidentiality</u>. Article VII of the Separation Agreement is hereby incorporated into this Agreement *mutatis mutandis*.

SECTION 11.05. <u>Tax Deductions</u>. Subject to the terms and obligations of the Parties as set forth in the TMA, (a) the Medtronic Group shall be solely entitled to claim any income Tax deductions arising after the Standup Date with respect to any payment or benefit under any Medtronic Benefit Plan, including any Medtronic Stock Plan and the Retained Medtronic Awards, and (b) the SplitCo Group shall be solely entitled to claim any income Tax deduction arising after the Standup Date with respect to any payment or benefit under any SplitCo Benefit Plan, including the SplitCo Stock Plan.

SECTION 11.06. <u>Indemnification</u>. In the event that either Party is required to indemnify the other Party in connection with this Agreement, such indemnification obligations shall be governed by, and subject to the terms and conditions of, Article VI of the Separation Agreement, which is hereby incorporated into this Agreement by reference for such purposes.

ARTICLE XII

<u>Miscellaneous</u>

SECTION 12.01. <u>Counterparts; Entire Agreement; Corporate Power</u>. Section 11.01 of the Separation Agreement is incorporated by reference herein, *mutatis mutandis*.

SECTION 12.02. <u>Governing Law; Dispute Resolution; Jurisdiction</u>. Section 11.02 of the Separation Agreement is incorporated by reference herein, *mutatis mutandis*. Except to the extent required by applicable Law, the Conveyancing and Assumption Instruments shall not contain any representations or warranties or indemnities, shall not conflict with this Agreement and, to the extent that any provision of a Conveyancing and Assumption Instrument does conflict

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with any provision of this Agreement, this Agreement shall govern and control unless specifically stated otherwise in such Conveyancing and Assumption Instrument.

SECTION 12.03. <u>Assignability</u>. Section 11.03 of the Separation Agreement is incorporated by reference herein, *mutatis mutandis*.

SECTION 12.04. <u>Third-Party Beneficiaries</u>. Section 11.04 of the Separation Agreement is incorporated by reference herein, *mutatis mutandis*.

SECTION 12.05. <u>Notices</u>. Section 11.05 of the Separation Agreement is incorporated by reference herein, *mutatis mutandis*.

SECTION 12.06. <u>Severability</u>. Section 11.06 of the Separation Agreement is incorporated by reference herein, *mutatis mutandis*.

SECTION 12.07. <u>Headings</u>. Section 11.09 of the Separation Agreement is incorporated by reference herein, *mutatis mutandis*.

SECTION 12.08. <u>Survival of Covenants</u>. Section 11.10 of the Separation Agreement is incorporated by reference herein, *mutatis mutandis*.

SECTION 12.09. <u>Waivers of Default</u>. Section 11.11 of the Separation Agreement is incorporated by reference herein, *mutatis mutandis*.

SECTION 12.10. <u>Specific Performance</u>. Section 11.12 of the Separation Agreement is incorporated by reference herein, *mutatis mutandis*.

SECTION 12.11. <u>No Admission of Liability</u>. Section 11.13 of the Separation Agreement is incorporated by reference herein, *mutatis mutandis*.

SECTION 12.12. <u>Section 409A</u>. The Parties shall cooperate in good faith and use reasonable best efforts to ensure that the transactions contemplated by this Agreement, the Separation Agreement and any other Ancillary Agreement shall not result in adverse Tax consequences under Section 409A of the Code to any SplitCo Employee (or any of their respective beneficiaries), in respect of their benefits under any Benefit Plan.

SECTION 12.13. <u>Termination</u>. Article X of the Separation Agreement is incorporated by reference herein, *mutatis mutandis*.

SECTION 12.14. <u>Amendments; Waivers</u>. Section 11.14 of the Separation Agreement is incorporated by reference herein, *mutatis mutandis*.

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SECTION 12.15. <u>Interpretation</u>. Section 11.16 of the Separation Agreement is incorporated by reference herein, *mutatis mutandis*.

*[Remainder of page left intentionally blank]*

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IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their duly authorized representatives.

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| | | |
|:---|:---|:---|
| MEDTRONIC GROUP HOLDING, INC., | MEDTRONIC GROUP HOLDING, INC., | MEDTRONIC GROUP HOLDING, INC., |
| | by | |
| | | /s/ Brian Blackwood |
| | | Name: Brian Blackwood |
| | | Title: &nbsp;&nbsp;&nbsp;&nbsp;Vice President |
| KANGAROO US HOLDCO 2, INC., | KANGAROO US HOLDCO 2, INC., | KANGAROO US HOLDCO 2, INC., |
| | by | |
| | | /s/ Chris Eso |
| | | Name: Chris Eso  |
| | | Title: &nbsp;&nbsp;&nbsp;&nbsp;President |

---

[*Signature Page to Employee Matters Agreement*]

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**<u>Schedule I</u>**

SplitCo Employees

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**<u>Schedule II</u>**

SplitCo Offer Transfer Jurisdictions

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**<u>Schedule III</u>**

Certain Severance Allocation

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**<u>Schedule IV</u>**

SplitCo Assets

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**<u>Schedule V</u>**

SplitCo Employee Liabilities

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**<u>Schedule VI</u>**

Medtronic Employee Liabilities

## Exhibit 10.4

**Exhibit 10.4**

**MGH-MM INTELLECTUAL PROPERTY CROSS-LICENSE AGREEMENT** 

This MGH-MM INTELLECTUAL PROPERTY CROSS-LICENSE AGREEMENT, dated as of March 1, 2026 (the "<u>Agreement</u>") is entered into by and between Medtronic Group Holding Inc., a Minnesota corporation ("<u>Medtronic</u>") and Medtronic MiniMed, Inc., a Delaware corporation ("<u>SplitCo</u>"). Medtronic and SplitCo are collectively referred to herein as the "<u>Parties</u>" and individually as a "<u>Party</u>".

**RECITALS**

WHEREAS, in connection with the Separation Agreement, dated as of March 1, 2026, by and between Kangaroo US HoldCo 2, Inc., a Delaware corporation and Medtronic (the "<u>Separation Agreement</u>"), (a) Medtronic plc, an Irish public limited company and the ultimate parent company of Medtronic ("<u>Medtronic Parent</u>") and its shareholders determined that it is desirable and appropriate to transfer certain assets and liabilities to SplitCo and the other members of the SplitCo Group, and for such entities to conduct and operate the SplitCo Business, and (b) Medtronic and the other members of the Medtronic Group will conduct and operate the Medtronic Business;

WHEREAS, this Agreement is an Ancillary Agreement pursuant to the Separation Agreement; and

WHEREAS, in connection with the transactions contemplated by the Separation Agreement, Medtronic and each of the other members of the Medtronic Group (but *excluding* all of the entities listed on Exhibit A of this Agreement) (the "<u>Medtronic Licensors</u>" wish to grant to SplitCo and the other members of the SplitCo Group (in such capacity, the "<u>SplitCo Licensees</u>") licenses under certain Medtronic Licensed Patents and Medtronic Licensed Other IP, and SplitCo and each of the other members of the SplitCo Group (collectively, the "<u>SplitCo Licensors</u>") wish to grant to Medtronic and each of the other members of the Medtronic Group (*including* the entities listed on Exhibit A of this Agreement) (in such capacity, the "<u>Medtronic Licensees</u>"), licenses to the SplitCo Licensed Patents and SplitCo Licensed Other IP, in each case, as and to the extent set forth herein.

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained in this Agreement and for other good and valuable consideration, the

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receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows:

**ARTICLE 1**

**DEFINITIONS**

**Section 1.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Defined Terms</u>**. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Separation Agreement. As used in this Agreement, the following terms shall have the following meanings:

"<u>Affiliate</u>" of any Person means a Person that controls, is controlled by or is under common control with such Person. As used herein, "control" of any entity means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such entity, whether through ownership of voting securities or other interests, by Contract or otherwise; <u>provided</u>, <u>however</u>, that for purposes of this Agreement, (a) SplitCo and the other members of the SplitCo Group shall not be considered Affiliates of Medtronic or any of the other members of the Medtronic Group and (b) Medtronic and the other members of the Medtronic Group shall not be considered Affiliates of SplitCo or any of the other members of the SplitCo Group; and <u>provided</u>, <u>further</u>, that MiniMed Group, Inc. shall not be considered part of the Medtronic Group or part of the SplitCo Group prior to the merger of Kangaroo US HoldCo 2, Inc. into MiniMed Group, Inc.

"<u>Change of Control</u>" means with respect to any Person, (a) the sale of all or substantially all of the ownership interests in such Person in a single transaction to another Person that is not then an Affiliate of such first Person, (b) any direct or indirect acquisition, consolidation or merger of such Person by, with or into any other Person that is not then an Affiliate of such first Person, or (c) any other corporate reorganization or single transaction or series of related transactions in which direct or indirect control of such Person is transferred to one or more other Persons that are not then Affiliates of such first Person, including by transferring an excess of fifty percent (50%) of such Person's voting power, shares or equity, through a merger, consolidation, tender offer or similar transaction to one or more other Persons that are not then Affiliates of such first Person.

"<u>Contract</u>" means any contract, agreement or other legally binding instrument, including any note, bond, mortgage, deed, indenture, commitment, undertaking, promise, lease, sublease, license or sublicense or joint venture.

"<u>Group</u>" means either the Medtronic Group or the SplitCo Group, as the context requires.

"<u>Held for Use</u>" means that there are books or records, whether in hard copy or electronic or digital format (including emails, data bases, and other file formats) (a) evidencing a specific, good faith intention of future use and (b) that exist as of the Separation Date.

"<u>Intellectual Property</u>" means any and all common law or statutory rights anywhere in the world arising under or associated with the following, whether registered or unregistered: (a) patents, patent applications, statutory invention registrations, registered designs, utility models,

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and similar or equivalent rights in inventions and designs and all reissues, reexaminations, divisionals, continuations, and extensions of, and counterparts thereof, with respect to any of the foregoing ("<u>Patent</u>s"), (b) trademarks, service marks, trade dress, trade names, logos and other designations of origin, and the goodwill associated therewith ("<u>Trademarks</u>"), (c) rights in domain names and uniform resource locators, social media identifiers and accounts, and other names and locators associated with Internet addresses and sites ("<u>Domain Names</u>"), (d) copyrights and any other equivalent rights in works of authorship (including databases as works of authorship) ("<u>Copyrights</u>"), (e) Trade Secrets, (f) rights in Software (as defined in the Separation Agreement), and (g) other similar or equivalent intellectual property rights.

"<u>Licensee(s)</u>" means the Medtronic Licensees or the SplitCo Licensees, as applicable, in their capacities as the licensees or grantees of the licenses or rights granted to them by the SplitCo Licensors or the Medtronic Licensors, as applicable, pursuant to <u>Article 2</u>.

"<u>Licensor(s)</u>" means the Medtronic Licensors or the SplitCo Licensors, as applicable, in their capacities as the licensors or grantors of any licenses or rights granted by them to the SplitCo Licensees or the Medtronic Licensees, as applicable, pursuant to <u>Article 2</u>.

"<u>Medtronic Business</u>" means the business and operations conducted (including business and operations not yet commercialized) by the Medtronic Group other than the SplitCo Business.

"<u>Medtronic Group</u>" means Medtronic Parent and each of its Subsidiaries, but excluding any member of the SplitCo Group and the SplitCo Group Entities; and excluding MiniMed Group, Inc.

"<u>Medtronic Intellectual Property</u>" means all Intellectual Property owned by any member of the Medtronic Group or the SplitCo Group as of immediately prior to the Separation Date, other than the SplitCo Intellectual Property, including all rights to prosecute and perfect the foregoing through administrative prosecution, registration, recordation, or other proceeding, and all causes of action and rights to sue or seek other remedies arising from or relating to the foregoing, including for any past or ongoing infringement, misuse, or misappropriation.

"<u>Medtronic Licensed IP</u>" means the (a) Medtronic Licensed Patents and (b) Medtronic Licensed Other IP.

"<u>Medtronic Licensed Other IP</u>" means all Medtronic Intellectual Property (other than Patents, Trademarks and Domain Names) that is owned by a Medtronic Licensor and is used or Held for Use in the operation of the SplitCo Business immediately prior to the Separation Date.

"<u>Medtronic Licensed Patents</u>" means the Medtronic Patents that are used or Held for Use in connection with the business or operation of the SplitCo Business immediately prior to the Separation Date.

"<u>Medtronic Patents</u>" means (a) any Patents under Medtronic Intellectual Property that are owned by a Medtronic Licensor and (b) all continuations, divisionals, continuations-in-part, re-examinations, reissues and revisions of such Patents issuing subsequent to the Separation Date.

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"<u>Parties</u>" and "<u>Party</u>" have the meaning assigned in the preamble hereto.

"<u>Person</u>" means an individual, a general or limited partnership, a corporation, a trust, a joint venture, an unincorporated organization, a limited liability company, any other entity and any Governmental Authority.

"<u>Separation Date</u>" means the date on which the Initial Public Offering (as defined in the Separation Agreement) closes or in such other manner or on such other date as Medtronic and Kangaroo US HoldCo 2, Inc. may mutually agree upon in writing.

"<u>SplitCo Business</u>" means the business and operations constituting Medtronic's Diabetes operating unit (as further described in the IPO Registration Statement), including the brands and product lines (a) sold by such segment as of or prior to the Separation Date or (b) otherwise set forth on <u>Schedule V</u> (as listed in the Separation Agreement). Notwithstanding the foregoing, the brands and product lines of all Medtronic Group operating units and businesses other than the Diabetes operating unit shall be deemed part of the Medtronic Business, and not part of the SplitCo Business.

"<u>SplitCo Group</u>" means (a) Kangaroo US HoldCo 2, Inc., (b) each Person that will be a Subsidiary of Kangaroo US HoldCo 2, Inc. immediately after the Separation Date, including the entities set forth on <u>Schedule III</u> under the caption "Subsidiaries" (as listed in the Separation Agreement) and (c) each Person that becomes a Subsidiary of Kangaroo US HoldCo 2, Inc. after the Separation Date, including in each case any Person that is merged or consolidated with or into Kangaroo US HoldCo 2, Inc. or any Subsidiary of Kangaroo US HoldCo 2, Inc., including as part of the Internal Transactions (as defined in the Separation Agreement). "SplitCo Group" excludes MiniMed Group, Inc. prior to the merger of Kangaroo US HoldCo 2, Inc. into MiniMed Group, Inc.

"<u>SplitCo Group Entities</u>" means the entities, the equity, partnership, membership, joint venture or similar interests of which are set forth on <u>Schedule III</u> under the captions "Joint Ventures" and "Minority Investments" (as listed in the Separation Agreement).

"<u>SplitCo Intellectual Property</u>" means (a) the SplitCo Patents, (b) the SplitCo Copyrights, (c) the SplitCo Domain Names, (d) the SplitCo Trade Secrets, (e) the SplitCo Trademarks (as defined in the Separation Agreement), (f) the SplitCo IDs (as defined in the Separation Agreement), (g) all other Intellectual Property (other than Patents) owned by any member of the Medtronic Group or the SplitCo Group as of immediately prior to the Separation Date that are exclusively used in or related to the SplitCo Business (including such SplitCo Domain Names and SplitCo Trademarks listed on <u>Schedule XVII</u> (each as listed in the Separation Agreement)), and (h) including in each case of the foregoing (a)-(g), all rights to prosecute and perfect the foregoing through administrative prosecution, registration, recordation, or other proceeding, and all causes of action and rights to sue or seek other remedies arising from or relating to the foregoing, including for any past or ongoing infringement, misuse, or misappropriation.

"<u>SplitCo Licensed IP</u>" means the (a) SplitCo Licensed Patents and (b) SplitCo Licensed Other IP.

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"<u>SplitCo Licensed Other IP</u>" means all SplitCo Intellectual Property (other than Patents, Trademarks and Domain Names) that is used or Held for Use in the operation of the Medtronic Business immediately prior to the Separation Date.

"<u>SplitCo Licensed Patents</u>" means SplitCo Patents that are used or Held for Use in connection with the business or operation of the Medtronic Business immediately prior to the Separation Date.

"<u>SplitCo Patents</u>" means (a) the Patents listed on <u>Exhibit B</u> of this Agreement and (b) and all continuations, divisionals, continuations-in-part, re-examinations, reissues and revisions of such Patents issuing subsequent to the Separation Date.

"<u>SplitCo Trade Secrets</u>" means the Trade Secrets that are owned by any member of the Medtronic Group or SplitCo Group as of immediately prior to the Separation Date and that are exclusively used in or related to the SplitCo Business.

"<u>Subsidiary</u>" of any Person means any corporation or other organization, whether incorporated or unincorporated, of which at least a majority of the securities or interests having by the terms thereof ordinary voting power to elect at least a majority of the board of directors or others performing similar functions with respect to such corporation or other organization, is directly or indirectly owned or controlled by such Person or by any one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries.

"<u>Successor</u>" means any successor (by purchase, divesture, merger, Change of Control or otherwise) to all or substantially all of the SplitCo Business or brand or product line of the SplitCo Group.

"<u>Third Party</u>" means a Person other than Medtronic Licensors, SplitCo Licensors or any of their respective Affiliates immediately following the Separation Date.

"<u>Trade Secrets</u>" means all (a) confidential or proprietary information and (b) all other forms and types of financial, business, scientific, technical, economic or engineering information, including patterns, plans, compilations, program devices, formulas, designs, prototypes, methods, techniques, processes, procedures, know-how, programs or codes, whether tangible or intangible, and whether or how stored, compiled or memorialized physically, electronically, graphically, photographically or in writing, to the extent that the owner thereof has taken reasonable measures to keep such information secret and the information derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable through proper means by, the public.

**ARTICLE 2**

**LICENSE GRANTS**

**Section 2.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>License Grants</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>License to SplitCo Licensees of Medtronic Licensed IP</u>. Subject to the terms and conditions of this Agreement, the Medtronic Licensors hereby grant, on behalf of

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themselves and their Subsidiaries, to the SplitCo Licensees a non-exclusive, royalty-free, perpetual, irrevocable, worldwide, non-sublicensable (other than pursuant to Section <u>2.3</u>) and non-transferable (other than pursuant to <u>Section 6.2</u>) license (i) under the Medtronic Licensed Patents, to make, have made (subject to Section <u>2.2</u>), use, offer to sell, sell and import any products or services of the SplitCo Business as operated on the Separation Date and any reasonable and natural extensions thereof and (ii) under the Medtronic Licensed Other IP, to use, copy, distribute, display, publish, perform, create derivative works of and otherwise commercially exploit any products and services embodying or practicing the Medtronic Licensed Other IP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>License to Medtronic Licensees of SplitCo Licensed IP</u>. Subject to the terms and conditions of this Agreement, SplitCo Licensors hereby grant, on behalf of themselves and their Subsidiaries, to the Medtronic Licensees a non-exclusive, royalty-free, perpetual, irrevocable, worldwide, non-sublicensable (other than pursuant to <u>Section 2.3</u>) and non-transferable (other than pursuant to <u>Section 6.2</u>) license (i) under the SplitCo Licensed Patents, to make, have made (subject to <u>Section 2.2</u>), use, offer to sell, sell and import any products or services of the Medtronic Business as operated on the Separation Date and any reasonable and natural extensions thereof and (ii) under the SplitCo Licensed Other IP, to use, copy, distribute, display, publish, perform, create derivative works of and otherwise commercially exploit any products and services embodying or practicing the SplitCo Licensed Other IP.

**Section 2.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Sublicenses</u>**. Each Licensee may sublicense the rights granted to it pursuant to Section <u>2.1</u> under the Medtronic Licensed IP and SplitCo Licensed IP, as applicable, only to (i) its existing and future Affiliates (solely for the period of time in which such Persons remain Affiliates of such Licensee) and (ii) vendors, suppliers, distributors, contractors, service providers, research organizations, and marketing partners providing non-manufacturing services to Licensees and their respective Affiliates, but not for the independent use of such Persons. Any sublicensee of Licensees must be bound in writing to terms and conditions no less restrictive on the sublicensee and no less protective of the Medtronic Licensed IP or SplitCo Licensed IP, as applicable, than those contained in this Agreement and Licensees will procure that each of their sublicensees complies with the terms of its respective sublicense. Any act or omission of any sublicensee of any Licensee shall be deemed an act or omission of such Licensee and such Licensee shall be responsible and liable for any breach of this Agreement by any of its sublicensees.

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**Section 2.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Implied Restrictions or Licenses; Reservation of Rights</u>**. Nothing contained in this Agreement shall be construed as conferring any rights by implication, estoppel or otherwise, under any Intellectual Property other than the rights expressly granted in this Agreement with respect to the Medtronic Licensed IP or SplitCo Licensed IP. All rights not expressly granted in this Agreement are reserved by Licensors. The licenses granted herein shall not be deemed to require the delivery of any documents, materials or information, or the requirement to provide any support or training.

**ARTICLE 3**

**OWNERSHIP, MAINTENANCE. ENFORCEMENT, CONFIDENTIALITY**

**Section 3.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement</u>**. Each Licensee hereby acknowledges that, as between the Parties, (i) Medtronic and the other Medtronic Licensors are the owners of all right, title and interest in and to the Medtronic Licensed IP and (ii) SplitCo and the other applicable members of the SplitCo Group are the owner of all right, title and interest in and to the SplitCo Licensed IP.

**Section 3.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Responsibility for Licensed IP</u>**. Each Licensor shall have the exclusive right (but not the obligation) to prepare, file, prosecute, issue, maintain, assign, dispose of, enforce, abandon and terminate the Medtronic Licensed IP or SplitCo Licensed IP, as applicable to the Licensor, at its sole discretion and expense. The Parties shall reasonably cooperate, as needed, to assist the other party with resolution of disputes related to the Licensed IP, including participating in settlement or licensing negotiations. For the avoidance of doubt, such cooperation shall not extend to requiring involuntary joinder of a party to an enforcement proceeding. In the event such Licensor decides to initiate any third party claim of any infringement or threatened infringement or misappropriation of the Medtronic Licensed IP or SplitCo Licensed IP, as applicable to Licensor, Licensee agrees to reasonably cooperate and assist such Licensor in whatever manner Licensor directs. Any actual and reasonable out-of-pocket expenses associated with such cooperation shall be borne by the Licensor, expressly excluding the value of the time of the Licensee's personnel (regarding which the Parties shall agree on a case-by-case basis with respect to reasonable compensation). Recovery of damages resulting from any such action shall be solely for the account of Licensor. Licensee will provide information reasonably requested by Licensor in any such action, including in connection with the calculation of damages.

**Section 3.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidentiality</u>.** Each Party hereby acknowledges that confidential Information of such Party or members of its Group may be exposed to employees and agents of the other Party or its Group who have a need to know such confidential Information as a result of, or in connection with, the licenses and rights granted herein. Each Party agrees, on behalf of itself and its Affiliates, that such Party's obligation (and the obligation of members of its Group) to use and keep confidential such Information of the other Party or its Group, including when exercising "Have-made" rights (pursuant to <u>Section 2.2</u>) or sublicensing rights (pursuant to Section <u>2.3</u>) shall be governed by Section 7.09 of the Separation Agreement, in which each Party and Member of its Group shall only share confidential Information of the other Party licensed herein to third parties under Section <u>2.2</u> and <u>Section 2.3</u> only as reasonably necessary to exercise

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such rights; provided it has executed a written confidential agreement with the applicable third-party contract manufacturer or sublicensee with appropriate, industry-standard terms no less restrictive than Section 7.09 of the Separation Agreement.

**ARTICLE 4**

**DISCLAIMER OF WARRANTIES; LIMITATION OF LIABILITY; INDEMNIFICATION**

**Section 4.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclaimer of Warranties</u>**. NO EXPRESS OR IMPLIED WARRANTIES ARE GIVEN BY MEDTRONIC LICENSORS OR SPLITCO LICENSORS WITH RESPECT TO ANY MEDTRONIC LICENSED IP OR SPLITCO LICENSED IP OR ANY OTHER MATTER OR SUBJECT ARISING OUT OF THIS AGREEMENT, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ANY IMPLIED WARRANTY ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE, OR REGARDING THE VALIDITY, REGISTRABILITY, SCOPE, ENFORCEABILITY OR NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, EACH LICENSEE ACKNOWLEDGES THAT THE LICENSES GRANTED IN THIS AGREEMENT AND THE MEDTRONIC LICENSED IP AND SPLITCO LICENSED IP ARE PROVIDED "AS IS."

**Section 4.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>LIMITATION OF LIABILITY</u>**. IN NO EVENT SHALL A PARTY BE LIABLE TO ANY OTHER PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES IN ANY WAY RELATED TO OR ARISING FROM THIS AGREEMENT OR THE MEDTRONIC LICENSED IP OR SPLITCO LICENSED IP, UNDER ANY THEORY OF LAW, INCLUDING, CONTRACT, TORT OR STRICT LIABILITY, WHETHER OR NOT THE OTHER PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

**Section 4.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification</u>**. The provisions of Article VI of the Separation Agreement shall govern any and all Liabilities (as defined in the Separation Agreement) or indemnification under or in connection with this Agreement.

**ARTICLE 5**

**TERM**

**Section 5.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Term</u>**. The terms of this Agreement shall remain in effect until the expiration of the last-to-expire of the Intellectual Property licensed under this Agreement, if ever; provided that the term of the Patent licenses granted pursuant to <u>Section 2.1(a)</u> and <u>Section</u> <u>2.1(b)</u>, respectively, shall terminate on a Patent-by-Patent basis upon expiration of the applicable Patent's term, respectively. The irrevocability of the licenses granted pursuant to <u>Section 2.1(a)</u> and <u>Section 2.1(b)</u> shall not limit the availability of damages, specific performance or other legal or equitable remedies of the Parties, other than remedies that would result in a termination of, or limitation on, the licenses.

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**Section 5.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival</u>**. The Parties rights and obligations set forth in the following Articles and Sections shall survive the termination of this Agreement: <u>Article 1</u> (Definitions), <u>Article 4</u> (Disclaimer of Warranties; Limitation of Liability; Indemnification), and <u>Article 6</u> (Miscellaneous).

**ARTICLE 6**

**MISCELLANEOUS**

**Section 6.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>**. All notices or other communications under this Agreement shall be in writing and shall be deemed to be duly given (a) when delivered in person, (b) on the date received, if sent by a nationally recognized delivery or courier service or (c) upon the earlier of confirmed receipt or the fifth Business Day following the date of mailing if sent by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

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| | |
|:---|:---|
| If to Medtronic: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic Group Holding, Inc.<br>Medtronic Operational Headquarters<br>710 Medtronic Parkway<br>Minneapolis, MN 55432<br>Attention: Vice President, Corporate Development & Ventures<br>Senior Legal Director, Business Development<br>Email: |
|  | with a copy (which shall not constitute notice) to: |
|  | Cleary Gottlieb Steen & Hamilton LLP<br>650 California Street<br>San Francisco, CA 94108 <br>Attention: Benet J. O'Reilly<br>Email: <br>and<br>Cleary Gottlieb Steen & Hamilton LLP<br>One Liberty Plaza<br>New York, New York 10006<br>Tel: (212) 225-2000<br>Attention: Kimberly R. Spoerri<br>Email:  |

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| | |
|:---|:---|
| If to SplitCo: | Medtronic MiniMed, Inc.<br>1800 Devonshire Street<br>Northridge, CA<br>Attention: Courtney Nelson Wills, General Counsel <br>Email:  |
|  | with a copy (which shall not constitute notice) to: |
|  | Cleary Gottlieb Steen & Hamilton LLP<br>650 California Street<br>San Francisco, CA 94108 <br>Attention: Benet J. O'Reilly<br>Email: <br>and<br>Cleary Gottlieb Steen & Hamilton LLP<br>One Liberty Plaza<br>New York, NY 10006<br>Attention: Kimberly R. Spoerri<br>Email: |

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**Section 6.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Assignment</u>**. This Agreement and the rights hereunder shall be fully assignable or transferrable, in whole or in part, by Medtronic without SplitCo's consent. Neither this Agreement nor any of the rights, interests or obligations hereunder may be assigned, transferred or delegated, in whole or in part by SplitCo without the prior written consent of Medtronic, except that SplitCo may assign this Agreement, in whole but not in part (except for partial assignments <u>under Section 6.2(b)</u>), by written notice to Medtronic in connection with (a) the sale of all or substantially all of the SplitCo Business, (b) a sale of a brand or product line of the SplitCo Group to which this Agreement relates in a single transaction to a Third Party, (c) a Change of Control of SplitCo or any member of the SplitCo Group, or (d) an internal reorganization where this Agreement is assigned to one or more Affiliates of the SplitCo Group.

Following such event under <u>Section 6.2</u>(a), (b) and (c), all rights granted to the Successor under <u>Article 2</u>, except for Section 2.1(a)(ii) and rights associated therewith, shall automatically:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;be limited to the SplitCo Group products and services that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;were Held for Use;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;are commercialized prior to such event under <u>Section 6.2(a)-(c)</u>; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;are subject of a SplitCo Group funded program in the product development pipeline, as evidenced by SplitCo Group's written program management documentation prior to such event under <u>Section 6.2(a)-(c)</u> (each of the foregoing being a

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"<u>SplitCo Covered Products</u>"), as applicable, and subsequent versions of the SplitCo Covered Products; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;not include any pre-existing products or services of the Successor or any of its respective Affiliates.

Any purported assignment in contravention of this <u>Section 6.2</u> shall be null and void *ab initio*. Subject to the preceding sentences of this Section <u>6.2</u>, this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the Parties and their respective successors and permitted assigns.

**Section 6.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Bankruptcy</u>**. The Parties acknowledge and agree that all rights and licenses granted by the other under or pursuant to this Agreement are, and shall otherwise be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code, as amended (the "<u>Bankruptcy Code</u>"), licenses of rights to "intellectual property" as defined under Section 101 of the Bankruptcy Code. The Parties agree that, notwithstanding anything else in this Agreement, Medtronic and the other members of the Medtronic Group and SplitCo and the other members of the SplitCo Group, as licensees of such Intellectual Property under this Agreement, shall retain and may fully exercise all of its rights and elections under the Bankruptcy Code (including Medtronic's and the Medtronic Group members' right to the continued enjoyment of the rights and licenses respectively granted under this Agreement).

**Section 6.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Relationship of Parties</u>**. Nothing contained in this Agreement will be deemed or construed as creating a joint venture or partnership between the Parties hereto. No Party is by virtue of this Agreement authorized as an agent, employee or legal representative of the other Parties. No Party will have the power to control the activities and operations of the others and their status is, and at all times will continue to be, that of independent contractors with respect to each other. No Party will have any power or authority to bind or commit the other Parties. No Party will hold itself out as having any authority or relationship in contravention of this <u>Section 6.4</u>.

**Section 6.5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies</u>**. Any and all remedies herein expressly conferred upon a Party will be deemed cumulative with and not exclusive of any other remedy expressly conferred hereby, and the exercise by a Party of any one such remedy will not preclude the exercise of any other such remedy.

**Section 6.6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law; Submission to Jurisdiction; Waiver of Jury</u> <u>Trial</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall be governed by, and construed in accordance with, the Laws of the State of Delaware, regardless of the Laws that might otherwise govern under applicable principles of conflicts of Laws thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Party irrevocably consents to the exclusive jurisdiction, forum and venue of the Court of Chancery of the State of Delaware or, if (and only if) the Court of Chancery of the State of Delaware finds it lacks subject matter jurisdiction, the federal court of

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the United States sitting in Delaware or, if (and only if) the federal court of the United States sitting in Delaware finds it lacks subject matter jurisdiction, the Superior Court of the State of Delaware, and appellate courts thereof, over any and all claims, disputes, controversies or disagreements between the Parties or any of their respective Subsidiaries, Affiliates, successors and assigns under or related to this Agreement or any document executed pursuant to this Agreement or any of the transactions contemplated hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;EACH OF THE PARTIES ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH OF THE PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT. EACH OF THE PARTIES CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT, IN THE EVENT OF ANY LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH OF THE PARTIES UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH OF THE PARTIES MAKES THIS WAIVER VOLUNTARILY AND (D) EACH OF THE PARTIES HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 6.6(c)</u>.

**Section 6.7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Incorporation of Certain Sections of the Separation Agreement</u>**. Section 11.01 (Counterparts; Entire Agreement), Section 11.02 (Dispute Resolution), Section 11.04 (Third-Party Beneficiaries), Section 11.06 (Severability), Section 11.08 (Expenses), Section 11.09 (Headings), Section 11.12 (Specific Performance), Section 11.14 (Amendments; Waivers), and Section 11.16 (Interpretation) of the Separation Agreement are incorporated herein by reference and shall apply to this Agreement *mutatis mutandis*.

[*Signature Pages Follow*]

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**IN WITNESS WHEREOF**, the Parties have caused this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.

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| |
|:---|
| **MEDTRONIC GROUP HOLDING, INC.** |
| By: /s/ Matthew Anderson |
| Name: Matthew A. Anderson |
| Title: Vice President |

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[Signature Page to the MGH-MM Intellectual Property Cross-License Agreement]

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| |
|:---|
| **MEDTRONIC MINIMED, INC.** |
| By: /s/ Courtney Nelson Wills  |
| Name: Courtney Nelson Wills |
| Title: Vice President and Secretary |

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[Signature Page to the MGH-MM Intellectual Property Cross-License Agreement]

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**<u>Exhibit A</u>**

**Excluded Medtronic Licensors**

[Exhibit B]

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**<u>Exhibit B</u>**

**SplitCo Patents**

[Exhibit B]

## Exhibit 10.5

**Exhibit 10.5**

**MPLC-MHSS INTELLECTUAL PROPERTY CROSS-LICENSE AGREEMENT** 

This MPLC-MHSS INTELLECTUAL PROPERTY CROSS-LICENSE AGREEMENT, dated as of March 1, 2026 (the "<u>Agreement</u>") is entered into by and between Medtronic plc, an Irish public limited company ("<u>Medtronic</u>") and MiniMed Holdings Switzerland Sàrl, a Swiss limited liability company ("<u>SplitCo</u>"). Medtronic and SplitCo are collectively referred to herein as the "<u>Parties</u>" and individually as a "<u>Party</u>".

**RECITALS**

WHEREAS, in connection with the Separation Agreement, dated as of March 1, 2026, by and between Kangaroo US HoldCo 2, Inc., a Delaware corporation and Medtronic Group Holding, Inc. (the "<u>Separation Agreement</u>"), (a) Medtronic and its shareholders determined that it is desirable and appropriate to transfer certain assets and liabilities to SplitCo and the other members of the SplitCo Group, and for such entities to conduct and operate the SplitCo Business, and (b) Medtronic and the other members of the Medtronic Group will conduct and operate the Medtronic Business;

WHEREAS, this Agreement is an Ancillary Agreement pursuant to the Separation Agreement; and

WHEREAS, in connection with the transactions contemplated by the Separation Agreement, Medtronic and each of the entities listed on <u>Exhibit A</u> of this Agreement (the "<u>Medtronic Licensors"</u>) wish to grant to SplitCo and each of the entities listed on Exhibit B (the "<u>SplitCo Licensees</u>") licenses under certain Medtronic Licensed Patents and Medtronic Licensed Other IP, and SplitCo and each of the entities listed in <u>Exhibit B</u> (collectively, the "<u>SplitCo</u> <u>Licensors</u>") wish to grant to Medtronic and each of the entities listed in Exhibit A (in such capacity, the "<u>Medtronic Licensees</u>"), licenses to the SplitCo Licensed Patents and SplitCo Licensed Other IP, in each case, as and to the extent set forth herein.

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows:

**ARTICLE 1**

**DEFINITIONS**

**Section 1.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Defined Terms</u>**. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Separation Agreement. As used in this Agreement, the following terms shall have the following meanings:

"<u>Affiliate</u>" of any Person means a Person that controls, is controlled by or is under common control with such Person. As used herein, "control" of any entity means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such entity, whether through ownership of voting securities or other interests, by Contract or

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otherwise; provided, however, that for purposes of this Agreement, (a) SplitCo and the other members of the SplitCo Group shall not be considered Affiliates of Medtronic or any of the other members of the Medtronic Group and (b) Medtronic and the other members of the Medtronic Group shall not be considered Affiliates of SplitCo or any of the other members of the SplitCo Group; and provided, further, that MiniMed Group, Inc. shall not be considered part of the Medtronic Group or part of the SplitCo Group prior to the merger of Kangaroo US HoldCo 2, Inc. into MiniMed Group, Inc.

"<u>Change of Control</u>" means with respect to any Person, (a) the sale of all or substantially all of the ownership interests in such Person in a single transaction to another Person that is not then an Affiliate of such first Person, (b) any direct or indirect acquisition, consolidation or merger of such Person by, with or into any other Person that is not then an Affiliate of such first Person, or (c) any other corporate reorganization or single transaction or series of related transactions in which direct or indirect control of such Person is transferred to one or more other Persons that are not then Affiliates of such first Person, including by transferring an excess of fifty percent (50%) of such Person's voting power, shares or equity, through a merger, consolidation, tender offer or similar transaction to one or more other Persons that are not then Affiliates of such first Person.

"<u>Contract</u>" means any contract, agreement or other legally binding instrument, including any note, bond, mortgage, deed, indenture, commitment, undertaking, promise, lease, sublease, license or sublicense or joint venture.

"<u>Group</u>" means either the Medtronic Group or the SplitCo Group, as the context requires.

"<u>Held for Use</u>" means that there are books or records, whether in hard copy or electronic or digital format (including emails, data bases, and other file formats) (a) evidencing a specific, good faith intention of future use and (b) that exist as of the Separation Date.

"<u>Intellectual Property</u>" means any and all common law or statutory rights anywhere in the world arising under or associated with the following, whether registered or unregistered: (a) patents, patent applications, statutory invention registrations, registered designs, utility models, and similar or equivalent rights in inventions and designs and all reissues, reexaminations, divisionals, continuations, and extensions of, and counterparts thereof, with respect to any of the foregoing ("<u>Patent</u>s"), (b) trademarks, service marks, trade dress, trade names, logos and other designations of origin, and the goodwill associated therewith ("<u>Trademarks</u>"), (c) rights in domain names and uniform resource locators, social media identifiers and accounts, and other names and locators associated with Internet addresses and sites ("<u>Domain Names</u>"), (d) copyrights and any other equivalent rights in works of authorship (including databases as works of authorship) ("<u>Copyrights</u>"), (e) Trade Secrets, (f) rights in Software (as defined in the Separation Agreement), and (g) other similar or equivalent intellectual property rights.

"<u>Licensee(s)</u>" means the Medtronic Licensees or the SplitCo Licensees, as applicable, in their capacities as the licensees or grantees of the licenses or rights granted to them by the SplitCo Licensors or the Medtronic Licensors, as applicable, pursuant to <u>Article 2</u>.

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"<u>Licensor(s)</u>" means the Medtronic Licensors or the SplitCo Licensors, as applicable, in their capacities as the licensors or grantors of any licenses or rights granted by them to the SplitCo Licensees or the Medtronic Licensees, as applicable, pursuant to <u>Article 2</u>.

"<u>Medtronic Business</u>" means the business and operations conducted (including business and operations not yet commercialized) by the Medtronic Group other than the SplitCo Business.

"<u>Medtronic Group</u>" means Medtronic and each of its Subsidiaries, but excluding any member of the SplitCo Group and the SplitCo Group Entities; and excluding MiniMed Group, Inc.

"<u>Medtronic Intellectual Property</u>" means all Intellectual Property owned by any member of the Medtronic Group or the SplitCo Group as of immediately prior to the Separation Date, other than the SplitCo Intellectual Property, including all rights to prosecute and perfect the foregoing through administrative prosecution, registration, recordation, or other proceeding, and all causes of action and rights to sue or seek other remedies arising from or relating to the foregoing, including for any past or ongoing infringement, misuse, or misappropriation.

"<u>Medtronic Licensed IP</u>" means the (a) Medtronic Licensed Patents and (b) Medtronic Licensed Other IP.

"<u>Medtronic Licensed Other IP</u>" means all Medtronic Intellectual Property (other than Patents, Trademarks and Domain Names) that is owned by a Medtronic Licensor and is used or Held for Use in the operation of the SplitCo Business immediately prior to the Separation Date.

"<u>Medtronic Licensed Patents</u>" means the Medtronic Patents that are used or Held for Use in connection with the business or operation of the SplitCo Business immediately prior to the Separation Date.

"<u>Medtronic Patents</u>" means (a) any Patents under Medtronic Intellectual Property that are owned by a Medtronic Licensor and (b) all continuations, divisionals, continuations-in-part, re-examinations, reissues and revisions of such Patents issuing subsequent to the Separation Date.

"<u>Parties</u>" and "<u>Party</u>" have the meaning assigned in the preamble hereto.

"<u>Person</u>" means an individual, a general or limited partnership, a corporation, a trust, a joint venture, an unincorporated organization, a limited liability company, any other entity and any Governmental Authority.

"<u>Separation Date</u>" means the date on which the Initial Public Offering (as defined in the Separation Agreement) closes or in such other manner or on such other date as Medtronic and Kangaroo US HoldCo 2, Inc. may mutually agree upon in writing.

"<u>SplitCo Business</u>" means the business and operations constituting Medtronic's Diabetes operating unit (as further described in the IPO Registration Statement), including the brands and product lines (a) sold by such segment as of or prior to the Separation Date or (b) otherwise set forth on <u>Schedule V</u> (as listed in the Separation Agreement). Notwithstanding the foregoing, the

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brands and product lines of all Medtronic Group operating units and businesses other than the Diabetes operating unit shall be deemed part of the Medtronic Business, and not part of the SplitCo Business.

"<u>SplitCo Group</u>" means (a) Kangaroo US HoldCo 2, Inc., (b) each Person that will be a Subsidiary of Kangaroo US HoldCo 2, Inc. immediately after the Separation Date, including the entities set forth on <u>Schedule III</u> under the caption "Subsidiaries" (as listed in the Separation Agreement) and (c) each Person that becomes a Subsidiary of Kangaroo US HoldCo 2, Inc. after the Separation Date, including in each case any Person that is merged or consolidated with or into Kangaroo US HoldCo 2, Inc. or any Subsidiary of Kangaroo US HoldCo 2, Inc., including as part of the Internal Transactions (as defined in the Separation Agreement). "SplitCo Group" excludes MiniMed Group, Inc. prior to the merger of Kangaroo US HoldCo 2, Inc. into MiniMed Group, Inc.

"<u>SplitCo Group Entities</u>" means the entities, the equity, partnership, membership, joint venture or similar interests of which are set forth on <u>Schedule III</u> under the captions "Joint Ventures" and "Minority Investments" (as listed in the Separation Agreement).

"<u>SplitCo Intellectual Property</u>" means (a) the SplitCo Patents, (b) the SplitCo Copyrights, (c) the SplitCo Domain Names, (d) the SplitCo Trade Secrets, (e) the SplitCo Trademarks (as defined in the Separation Agreement), (f) the SplitCo IDs (as defined in the Separation Agreement), (g) all other Intellectual Property (other than Patents) owned by any member of the Medtronic Group or the SplitCo Group as of immediately prior to the Separation Date that are exclusively used in or related to the SplitCo Business (including such SplitCo Domain Names and SplitCo Trademarks listed on <u>Schedule XVII</u> (each as listed in the Separation Agreement)), and (h) including in each case of the foregoing (a)-(g), all rights to prosecute and perfect the foregoing through administrative prosecution, registration, recordation, or other proceeding, and all causes of action and rights to sue or seek other remedies arising from or relating to the foregoing, including for any past or ongoing infringement, misuse, or misappropriation.

"<u>SplitCo Licensed IP</u>" means the (a) SplitCo Licensed Patents and (b) SplitCo Licensed Other IP.

"<u>SplitCo Licensed Other IP</u>" means all SplitCo Intellectual Property (other than Patents, Trademarks and Domain Names) that is used or Held for Use in the operation of the Medtronic Business immediately prior to the Separation Date.

"<u>SplitCo Licensed Patents</u>" means SplitCo Patents that are used or Held for Use in connection with the business or operation of the Medtronic Business immediately prior to the Separation Date.

"<u>SplitCo Patents</u>" means (a) the Patents listed on <u>Exhibit C</u> of this Agreement and (b) and all continuations, divisionals, continuations-in-part, re-examinations, reissues and revisions of such Patents issuing subsequent to the Separation Date.

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"<u>SplitCo Trade Secrets</u>" means the Trade Secrets that are owned by any member of the Medtronic Group or SplitCo Group as of immediately prior to the Separation Date and that are exclusively used in or related to the SplitCo Business.

"<u>Subsidiary</u>" of any Person means any corporation or other organization, whether incorporated or unincorporated, of which at least a majority of the securities or interests having by the terms thereof ordinary voting power to elect at least a majority of the board of directors or others performing similar functions with respect to such corporation or other organization, is directly or indirectly owned or controlled by such Person or by any one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries.

"<u>Successor</u>" means any successor (by purchase, divesture, merger, Change of Control or otherwise) to all or substantially all of the SplitCo Business or brand or product line of the SplitCo Group.

"<u>Third Party</u>" means a Person other than Medtronic Licensors, SplitCo Licensors or any of their respective Affiliates immediately following the Separation Date.

"<u>Trade Secrets</u>" means all (a) confidential or proprietary information and (b) all other forms and types of financial, business, scientific, technical, economic or engineering information, including patterns, plans, compilations, program devices, formulas, designs, prototypes, methods, techniques, processes, procedures, know-how, programs or codes, whether tangible or intangible, and whether or how stored, compiled or memorialized physically, electronically, graphically, photographically or in writing, to the extent that the owner thereof has taken reasonable measures to keep such information secret and the information derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable through proper means by, the public.

**ARTICLE 2**

**LICENSE GRANTS**

**Section 2.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>License Grants</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>License to SplitCo Licensees of Medtronic Licensed IP</u>. Subject to the terms and conditions of this Agreement, the Medtronic Licensors hereby grant, on behalf of themselves and their Subsidiaries, to the SplitCo Licensees a non-exclusive, royalty-free, perpetual, irrevocable, worldwide, non-sublicensable (other than pursuant to <u>Section 2.3</u>) and non-transferable (other than pursuant to <u>Section 6.2</u>) license (i) under the Medtronic Licensed Patents, to make, have made (subject to <u>Section 2.2</u>), use, offer to sell, sell and import any products or services of the SplitCo Business as operated on the Separation Date and any reasonable and natural extensions thereof and (ii) under the Medtronic Licensed Other IP, to use, copy, distribute, display, publish, perform, create derivative works of and otherwise commercially exploit any products and services embodying or practicing the Medtronic Licensed Other IP.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>License to Medtronic Licensees of SplitCo Licensed IP</u>. Subject to the terms and conditions of this Agreement, SplitCo Licensors hereby grant, on behalf of themselves and their Subsidiaries, to the Medtronic Licensees a non-exclusive, royalty-free, perpetual, irrevocable, worldwide, non-sublicensable (other than pursuant to <u>Section 2.3</u>) and non-transferable (other than pursuant to <u>Section 6.2</u>) license (i) under the SplitCo Licensed Patents, to make, have made (subject to <u>Section 2.2</u>), use, offer to sell, sell and import any products or services of the Medtronic Business as operated on the Separation Date and any reasonable and natural extensions thereof and (ii) under the SplitCo Licensed Other IP, to use, copy, distribute, display, publish, perform, create derivative works of and otherwise commercially exploit any products and services embodying or practicing the SplitCo Licensed Other IP.

**Section 2.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Sublicenses</u>**. Each Licensee may sublicense the rights granted to it pursuant to <u>Section 2.1</u> under the Medtronic Licensed IP and SplitCo Licensed IP, as applicable, only to (i) its existing and future Affiliates (solely for the period of time in which such Persons remain Affiliates of such Licensee) and (ii) vendors, suppliers, distributors, contractors, service providers, research organizations, and marketing partners providing non-manufacturing services to Licensees and their respective Affiliates, but not for the independent use of such Persons. Any sublicensee of Licensees must be bound in writing to terms and conditions no less restrictive on the sublicensee and no less protective of the Medtronic Licensed IP or SplitCo Licensed IP, as applicable, than those contained in this Agreement and Licensees will procure that each of their sublicensees complies with the terms of its respective sublicense. Any act or omission of any sublicensee of any Licensee shall be deemed an act or omission of such Licensee and such Licensee shall be responsible and liable for any breach of this Agreement by any of its sublicensees.

**Section 2.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Implied Restrictions or Licenses; Reservation of Rights</u>**. Nothing contained in this Agreement shall be construed as conferring any rights by implication, estoppel or otherwise, under any Intellectual Property other than the rights expressly granted in this Agreement with respect to the Medtronic Licensed IP or SplitCo Licensed IP. All rights not expressly granted in this Agreement are reserved by Licensors. The licenses granted herein shall not be deemed to require the delivery of any documents, materials or information, or the requirement to provide any support or training.

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**ARTICLE 3**

**OWNERSHIP, MAINTENANCE. ENFORCEMENT, CONFIDENTIALITY**

**Section 3.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement</u>**. Each Licensee hereby acknowledges that, as between the Parties, (i) Medtronic and the other Medtronic Licensors are the owners of all right, title and interest in and to the Medtronic Licensed IP and (ii) SplitCo and the other applicable members of the SplitCo Group are the owner of all right, title and interest in and to the SplitCo Licensed IP.

**Section 3.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Responsibility for Licensed IP</u>**. Each Licensor shall have the exclusive right (but not the obligation) to prepare, file, prosecute, issue, maintain, assign, dispose of, enforce, abandon and terminate the Medtronic Licensed IP or SplitCo Licensed IP, as applicable to the Licensor, at its sole discretion and expense. The Parties shall reasonably cooperate, as needed, to assist the other party with resolution of disputes related to the Licensed IP, including participating in settlement or licensing negotiations. For the avoidance of doubt, such cooperation shall not extend to requiring involuntary joinder of a party to an enforcement proceeding. In the event such Licensor decides to initiate any third party claim of any infringement or threatened infringement or misappropriation of the Medtronic Licensed IP or SplitCo Licensed IP, as applicable to Licensor, Licensee agrees to reasonably cooperate and assist such Licensor in whatever manner Licensor directs. Any actual and reasonable out-of-pocket expenses associated with such cooperation shall be borne by the Licensor, expressly excluding the value of the time of the Licensee's personnel (regarding which the Parties shall agree on a case-by-case basis with respect to reasonable compensation). Recovery of damages resulting from any such action shall be solely for the account of Licensor. Licensee will provide information reasonably requested by Licensor in any such action, including in connection with the calculation of damages.

**Section 3.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidentiality</u>.** Each Party hereby acknowledges that confidential Information of such Party or members of its Group may be exposed to employees and agents of the other Party or its Group who have a need to know such confidential Information as a result of, or in connection with, the licenses and rights granted herein. Each Party agrees, on behalf of itself and its Affiliates, that such Party's obligation (and the obligation of members of its Group) to use and keep confidential such Information of the other Party or its Group, including when exercising "Have-made" rights (pursuant to <u>Section 2.2</u>) or sublicensing rights (pursuant to <u>Section 2.3</u>) shall be governed by Section 7.09 of the Separation Agreement, in which each Party and Member of its Group shall only share confidential Information of the other Party licensed herein to third parties under <u>Section 2.2</u> and <u>Section 2.3</u> only as reasonably necessary to exercise such rights; provided it has executed a written confidential agreement with the applicable third-party contract manufacturer or sublicensee with appropriate, industry-standard terms no less restrictive than Section 7.09 of the Separation Agreement.

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**ARTICLE 4**

**DISCLAIMER OF WARRANTIES; LIMITATION OF LIABILITY; INDEMNIFICATION**

**Section 4.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclaimer of Warranties</u>**. NO EXPRESS OR IMPLIED WARRANTIES ARE GIVEN BY MEDTRONIC LICENSORS OR SPLITCO LICENSORS WITH RESPECT TO ANY MEDTRONIC LICENSED IP OR SPLITCO LICENSED IP OR ANY OTHER MATTER OR SUBJECT ARISING OUT OF THIS AGREEMENT, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ANY IMPLIED WARRANTY ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE, OR REGARDING THE VALIDITY, REGISTRABILITY, SCOPE, ENFORCEABILITY OR NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, EACH LICENSEE ACKNOWLEDGES THAT THE LICENSES GRANTED IN THIS AGREEMENT AND THE MEDTRONIC LICENSED IP AND SPLITCO LICENSED IP ARE PROVIDED "AS IS."

**Section 4.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>LIMITATION OF LIABILITY</u>**. IN NO EVENT SHALL A PARTY BE LIABLE TO ANY OTHER PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES IN ANY WAY RELATED TO OR ARISING FROM THIS AGREEMENT OR THE MEDTRONIC LICENSED IP OR SPLITCO LICENSED IP, UNDER ANY THEORY OF LAW, INCLUDING, CONTRACT, TORT OR STRICT LIABILITY, WHETHER OR NOT THE OTHER PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

**Section 4.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification</u>**. The provisions of Article VI of the Separation Agreement shall govern any and all Liabilities (as defined in the Separation Agreement) or indemnification under or in connection with this Agreement.

**ARTICLE 5**

**TERM**

**Section 5.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Term</u>**. The terms of this Agreement shall remain in effect until the expiration of the last-to-expire of the Intellectual Property licensed under this Agreement, if ever; provided that the term of the Patent licenses granted pursuant to <u>Section 2.1(a)</u> and <u>Section 2.1(b)</u>, respectively, shall terminate on a Patent-by-Patent basis upon expiration of the applicable Patent's term, respectively. The irrevocability of the licenses granted pursuant to <u>Section 2.1(a)</u> and <u>Section 2.1(b)</u> shall not limit the availability of damages, specific performance or other legal or equitable remedies of the Parties, other than remedies that would result in a termination of, or limitation on, the licenses.

**Section 5.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival</u>**. The Parties rights and obligations set forth in the following Articles and Sections shall survive the termination of this Agreement: <u>Article 1</u> (Definitions), <u>Article 4</u> (Disclaimer of Warranties; Limitation of Liability; Indemnification), and <u>Article 6</u> (Miscellaneous).

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**ARTICLE 6**

**MISCELLANEOUS**

**Section 6.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>**. All notices or other communications under this Agreement shall be in writing and shall be deemed to be duly given (a) when delivered in person, (b) on the date received, if sent by a nationally recognized delivery or courier service or (c) upon the earlier of confirmed receipt or the fifth Business Day following the date of mailing if sent by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

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| | |
|:---|:---|
| If to Medtronic: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic plc<br>Medtronic Operational Headquarters<br>710 Medtronic Parkway<br>Minneapolis, MN 55432<br>Attention: Vice President, Corporate Development & Ventures<br>Senior Legal Director, Business Development<br>Email: |
|  | with a copy (which shall not constitute notice) to: |
|  | Cleary Gottlieb Steen & Hamilton LLP<br>650 California Street<br>San Francisco, CA 94108 <br>Attention: Benet J. O'Reilly<br>Email: <br>and<br>Cleary Gottlieb Steen & Hamilton LLP<br>One Liberty Plaza<br>New York, New York 10006<br>Tel: (212) 225-2000<br>Attention: Kimberly R. Spoerri<br>Email:  |
| If to SplitCo: | MiniMed Holdings Switzerland Sàrl<br>Route du Molliau 31<br>1131 Tolochenaz<br>Switzerland<br>Attention: Courtney Nelson Wills, General Counsel <br>Email:  |
|  | with a copy (which shall not constitute notice) to: |

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Cleary Gottlieb Steen & Hamilton LLP<br>650 California Street<br>San Francisco, CA 94108 <br>Attention: Benet J. O'Reilly<br>Email: <br>and<br>Cleary Gottlieb Steen & Hamilton LLP<br>One Liberty Plaza<br>New York, NY 10006<br>Attention: Kimberly R. Spoerri<br>Email: <br>

**Section 6.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Assignment</u>**. This Agreement and the rights hereunder shall be fully assignable or transferrable, in whole or in part, by Medtronic without SplitCo's consent. Neither this Agreement nor any of the rights, interests or obligations hereunder may be assigned, transferred or delegated, in whole or in part by SplitCo without the prior written consent of Medtronic, except that SplitCo may assign this Agreement, in whole but not in part (except for partial assignments under Section 6.2(b)), by written notice to Medtronic in connection with (a) the sale of all or substantially all of the SplitCo Business, (b) a sale of a brand or product line of the SplitCo Group to which this Agreement relates in a single transaction to a Third Party, (c) a Change of Control of SplitCo or any member of the SplitCo Group, or (d) an internal reorganization where this Agreement is assigned to one or more Affiliates of the SplitCo Group.

Following such event under <u>Section 6.2</u>(a), (b) and (c), all rights granted to the Successor under <u>Article 2</u>, except for Section 2.1(a)(ii) and rights associated therewith, shall automatically:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;be limited to the SplitCo Group products and services that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;were Held for Use;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;are commercialized prior to such event under Section 6.2(a)-(c); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;are subject of a SplitCo Group funded program in the product development pipeline, as evidenced by SplitCo Group's written program management documentation prior to such event under Section 6.2(a)-(c) (each of the foregoing being a "<u>SplitCo Covered Products</u>"), as applicable, and subsequent versions of the SplitCo Covered Products; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;not include any pre-existing products or services of the Successor or any of its respective Affiliates.

Any purported assignment in contravention of this <u>Section 6.2</u> shall be null and void *ab initio*. Subject to the preceding sentences of this <u>Section 6.2</u>, this Agreement shall be binding

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upon, shall inure to the benefit of and shall be enforceable by the Parties and their respective successors and permitted assigns.

**Section 6.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Bankruptcy</u>**. The Parties acknowledge and agree that all rights and licenses granted by the other under or pursuant to this Agreement are, and shall otherwise be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code, as amended (the "<u>Bankruptcy Code</u>"), licenses of rights to "intellectual property" as defined under Section 101 of the Bankruptcy Code. The Parties agree that, notwithstanding anything else in this Agreement, Medtronic and the other members of the Medtronic Group and SplitCo and the other members of the SplitCo Group, as licensees of such Intellectual Property under this Agreement, shall retain and may fully exercise all of its rights and elections under the Bankruptcy Code (including Medtronic's and the Medtronic Group members' right to the continued enjoyment of the rights and licenses respectively granted under this Agreement).

**Section 6.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Relationship of Parties</u>**. Nothing contained in this Agreement will be deemed or construed as creating a joint venture or partnership between the Parties hereto. No Party is by virtue of this Agreement authorized as an agent, employee or legal representative of the other Parties. No Party will have the power to control the activities and operations of the others and their status is, and at all times will continue to be, that of independent contractors with respect to each other. No Party will have any power or authority to bind or commit the other Parties. No Party will hold itself out as having any authority or relationship in contravention of this <u>Section 6.4</u>.

**Section 6.5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies.</u>** Any and all remedies herein expressly conferred upon a Party will be deemed cumulative with and not exclusive of any other remedy expressly conferred hereby, and the exercise by a Party of any one such remedy will not preclude the exercise of any other such remedy.

**Section 6.6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall be governed by, and construed in accordance with, the Laws of the State of Delaware, regardless of the Laws that might otherwise govern under applicable principles of conflicts of Laws thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Party irrevocably consents to the exclusive jurisdiction, forum and venue of the Court of Chancery of the State of Delaware or, if (and only if) the Court of Chancery of the State of Delaware finds it lacks subject matter jurisdiction, the federal court of the United States sitting in Delaware or, if (and only if) the federal court of the United States sitting in Delaware finds it lacks subject matter jurisdiction, the Superior Court of the State of Delaware, and appellate courts thereof, over any and all claims, disputes, controversies or disagreements between the Parties or any of their respective Subsidiaries, Affiliates, successors and assigns under or related to this Agreement or any document executed pursuant to this Agreement or any of the transactions contemplated hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;EACH OF THE PARTIES ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY

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TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH OF THE PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT. EACH OF THE PARTIES CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT, IN THE EVENT OF ANY LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH OF THE PARTIES UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH OF THE PARTIES MAKES THIS WAIVER VOLUNTARILY AND (D) EACH OF THE PARTIES HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 6.6(c)</u>.

**Section 6.7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Incorporation of Certain Sections of the Separation Agreement</u>**. Section 11.01 (Counterparts; Entire Agreement), Section 11.02 (Dispute Resolution), Section 11.04 (Third-Party Beneficiaries), Section 11.06 (Severability), Section 11.08 (Expenses), Section 11.09 (Headings), Section 11.12 (Specific Performance), Section 11.14 (Amendments; Waivers), and Section 11.16 (Interpretation) of the Separation Agreement are incorporated herein by reference and shall apply to this Agreement *mutatis mutandis*.

[*Signature Pages Follow*]

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**IN WITNESS WHEREOF**, the Parties have caused this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.

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| | |
|:---|:---|
| **MEDTRONIC PLC** | **MEDTRONIC PLC** |
| By: | /s/ Brian Sandstrom |
|  | Name: Brian Sandstrom |
|  | Title: Vice President and Assistant Secretary |

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[Signature Page to the MPLC-MHSS Intellectual Property Cross-License Agreement]

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| | |
|:---|:---|
| **MINIMED HOLDINGS SWITZERLAND SÀRL** | **MINIMED HOLDINGS SWITZERLAND SÀRL** |
| By: | /s/ Sabrina Ciampi |
|  | Name: Sabrina Ciampi |
|  | Title: Director |

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[Signature Page to the MPLC-MHSS Intellectual Property Cross-License Agreement]

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**<u>Exhibit A</u>**

**Medtronic Licensors**

[Exhibit A]

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**<u>Exhibit B</u>**

**<u>SplitCo Licensees</u>**

[Exhibit B]

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**<u>Exhibit C</u>**

**SplitCo Patents**

[Exhibit C]

## Exhibit 10.6

**Exhibit 10.6**

**TRANSITIONAL TRADEMARK CROSS-LICENSE AGREEMENT**

This TRANSITIONAL TRADEMARK CROSS-LICENSE AGREEMENT, dated as of March 1, 2026 (the "<u>Agreement</u>") is entered into by and between Medtronic Group Holding, Inc., a Minnesota corporation ("<u>Medtronic</u>" and Kangaroo US HoldCo 2, Inc., (prior to the SplitCo Merger (as defined below), "SplitCo" and, following the SplitCo Merger, ("<u>Initial</u> <u>SplitCo Party</u>")), which on or before the Separation Date shall be merged with and into MiniMed Group, Inc., a Delaware corporation ("<u>SplitCo Parent</u>" whether prior to or following the SplitCo Merger), and, following the SplitCo Merger, ("<u>SplitCo</u>") with SplitCo Parent surviving such merger (the "<u>SplitCo Merger</u>") and continuing as "SplitCo" hereunder). Medtronic and SplitCo are collectively referred to herein as the "<u>Parties</u>" and individually as a "<u>Party</u>".

**RECITALS**

WHEREAS, in connection with the Separation Agreement, dated as of March 1, 2026, by and between SplitCo and Medtronic (the "<u>Separation Agreement</u>"), (a) Medtronic and its shareholders determined that it is desirable and appropriate to transfer certain assets and liabilities to SplitCo and for SplitCo to conduct and operate the SplitCo Business, and (b) Medtronic will conduct and operate the Medtronic Business;

WHEREAS, this Agreement is an Ancillary Agreement pursuant to the Separation Agreement; and

WHEREAS, in connection with the transactions contemplated by the Separation Agreement, Medtronic Licensors (as defined below) wish to grant to SplitCo and the other members of the SplitCo Group (in such capacity, the "<u>SplitCo Licensees</u>" a limited license under Licensed Medtronic Trademarks, and SplitCo Licensors (as defined below) wish to grant to Medtronic and each of the other members of the Medtronic Group (in such capacity, the "<u>Medtronic Licensees</u>, a limited license under the Licensed SplitCo Trademarks, in each case, as and to the extent set forth herein.

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows:

**ARTICLE 1**

**DEFINITIONS**

**Section 1.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Certain Defined Terms</u>**. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Separation Agreement. As used in this Agreement, the following terms shall have the following meanings:

"<u>Affiliate</u>" of any Person means a Person that controls, is controlled by or is under common control with such Person. As used herein, "control" of any entity means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies

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of such entity, whether through ownership of voting securities or other interests, by Contract or otherwise; provided, however, that for purposes of this Agreement, (a) SplitCo and the other members of the SplitCo Group shall not be considered Affiliates of Medtronic or any of the other members of the Medtronic Group and (b) Medtronic and the other members of the Medtronic Group shall not be considered Affiliates of SplitCo or any of the other members of the SplitCo Group.

&nbsp;&nbsp;&nbsp;&nbsp;"<u>Ancillary Agreements</u>" means the TSA, the TMA, the EMA, the Trademark Related Agreements, the Supply Agreement, the R&D Services Agreement, Net Economic Benefit Agreement, Undisclosed Agency Agreement, and any Conveyancing and Assumption Instruments or other agreements executed by a member of the Medtronic Group, on the one hand, and a member of the SplitCo Group, on the other hand, in connection with the implementation of the transactions contemplated by the Separation Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;"<u>Contract</u>" means any contract, agreement or other legally binding instrument, including any note, bond, mortgage, deed, indenture, commitment, undertaking, promise, lease, sublease, license or sublicense or joint venture.

"<u>Governmental Authority</u>" means any federal, state, local, foreign or international court, government, department, commission, board, bureau, agency, official or other legislative, judicial, regulatory, administrative or governmental authority.

"<u>Intellectual Property</u>" means any and all common law or statutory rights anywhere in the world arising under or associated with the following, whether registered or unregistered: (a) patents, patent applications, statutory invention registrations, registered designs, utility models, and similar or equivalent rights in inventions and designs and all reissues, reexaminations, divisionals, continuations, and extensions of, and counterparts thereof, with respect to any of the foregoing ("<u>Patent</u>s"), (b) trademarks, service marks, trade dress, trade names, logos and other designations of origin, and the goodwill associated therewith ("<u>Trademarks</u>"), (c) rights in domain names and uniform resource locators, social media identifiers and accounts, and other names and locators associated with Internet addresses and sites ("<u>Domain Name</u>"), (d) copyrights and any other equivalent rights in works of authorship (including databases as works of authorship) ("<u>Copyrights</u>"), (e) Trade Secrets (as defined in the Separation Agreement), (f) rights in Software (as defined in the Separation Agreement), and (g) other similar or equivalent intellectual property rights.

"<u>Licensed Medtronic Trademarks</u>" means the Trademarks set forth on <u>Exhibit A</u>.

"<u>Licensed SplitCo Trademarks</u>" means the Trademarks set forth on <u>Exhibit B</u>.

"<u>Licensed Trademarks</u>" means the Licensed Medtronic Trademarks or the Licensed SplitCo Trademarks, as applicable.

"<u>Licensee(s)</u>" means the Medtronic Licensees or the SplitCo Licensees, as applicable, in their capacities as the licensees or grantees of the licenses or rights granted to them by the SplitCo Licensors or the Medtronic Licensors, as applicable, pursuant to <u>Article 2</u>.

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"<u>Licensor(s)</u>" means the Medtronic Licensors or the SplitCo Licensors, as applicable, in their capacities as the licensors or grantors of any licenses or rights granted by them to the SplitCo Licensees or the Medtronic Licensees, as applicable, pursuant to <u>Article 2</u>.

"<u>Medtronic Business</u>" means the business and operations conducted (including business and operations not yet commercialized) by Medtronic and its Subsidiaries other than the SplitCo Business.

"<u>Medtronic Group</u>" means Medtronic and each of its Subsidiaries, but excluding any member of the SplitCo Group and the SplitCo Group Entities.

"<u>Medtronic Licensors</u>" means Medtronic and its Affiliates.

"<u>Parties</u>" and "<u>Party</u>" have the meaning assigned in the preamble hereto.

"<u>Person</u>" means an individual, a general or limited partnership, a corporation, a trust, a joint venture, an unincorporated organization, a limited liability company, any other entity and any Governmental Authority.

"<u>Separation Date</u>" means the date on which the Initial Public Offering (as defined in the Separation Agreement) closes or in such other manner or on such other date as Medtronic and SplitCo may mutually agree upon in writing.

"<u>SplitCo Business</u>" means the business and operations constituting Medtronic's Diabetes operating unit (as further described in the IPO Registration Statement), including the brands and product lines (i) sold by such segment as of or prior to the Separation Date or (ii) otherwise set forth on <u>Schedule V</u> (as listed in the Separation Agreement). Notwithstanding the foregoing, the brands and product lines of all Medtronic operating units and businesses other than the Diabetes operating unit shall be deemed part of the Medtronic Business, and not part of the SplitCo Business.

"<u>SplitCo Group</u>" means (a) SplitCo, (b) each Person that will be a Subsidiary of SplitCo immediately after the Separation Date, including the entities set forth on <u>Schedule III</u> under the caption "Subsidiaries" (as listed in the Separation Agreement) and (c) each Person that becomes a Subsidiary of SplitCo after the Separation Date, including in each case any Person that is merged or consolidated with or into SplitCo or any Subsidiary of SplitCo, including as part of the Internal Transactions (as defined in the Separation Agreement).

"<u>SplitCo Group Entities</u>" means the entities, the equity, partnership, membership, joint venture or similar interests of which are set forth on <u>Schedule III</u> under the captions "Joint Ventures" and "Minority Investments" (as listed in the Separation Agreement).

"<u>SplitCo Licensor</u>" means SplitCo and its Affiliates.

"<u>Subsidiary</u>" of any Person means any corporation or other organization, whether incorporated or unincorporated, of which at least a majority of the securities or interests having by the terms thereof ordinary voting power to elect at least a majority of the board of directors or others performing similar functions with respect to such corporation or other organization, is

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directly or indirectly owned or controlled by such Person or by any one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries.

"<u>Third Party</u>" means a Person other than Medtronic Licensors, Splitco Licensors or any of their respective Affiliates immediately following the Separation Date.

**ARTICLE 2**

**LICENSE GRANTS**

**Section 2.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>License Grant from Medtronic to SplitCo.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions of this Agreement, Medtronic Licensors hereby grant to SplitCo Licensees a non-exclusive, non-sublicensable (except as set forth in <u>Section 2.1(b)</u>), non-assignable (except as set forth in <u>Section 6.2</u>), royalty-free, fully paid up worldwide license, to use the Licensed Medtronic Trademarks as such Licensed Medtronic Trademarks were used as of the Separation Date in the SplitCo Business (including any proposed uses in progress at the Separation Date that cannot be suspended without significant cost) and for the time periods set forth in <u>Article 5</u> herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Any SplitCo Licensee may sublicense any of the rights granted to it pursuant to <u>Section 2.1(a)</u> and <u>Section 2.3</u> to its Affiliates; provided any such sublicense must be bound in writing and contain terms and conditions no less restrictive on the sublicensee and no less protective of the Licensed Medtronic Trademarks than those contained in this Agreement. SplitCo will ensure that each of its sublicensees complies with the terms of its sublicense, and any act or omission of any sublicensee of SplitCo shall be deemed an act or omission of SplitCo and SplitCo shall be responsible and liable for any breach of this Agreement by any of its sublicensees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo Licensees may grant permissions (not sublicenses), subject to the restrictions, limitation and obligations of the rights granted under this <u>Section 2.1</u> and <u>Section 2.3</u> to their customers, suppliers, and distributors to make limited use, during the Term, of the Licensed Medtronic Trademarks to designate the source of the Licensed Products in the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Medtronic shall have the right to exercise reasonable quality control over the use of the Licensed Medtronic Trademarks by the SplitCo Licensees as reasonably required to maintain the validity and enforceability of the Licensed Medtronic Trademarks and to protect the goodwill associated therewith, provided that the Parties acknowledge and agree that continued use of the Licensed Medtronic Trademarks consistent with the use thereof prior to the Separation Date shall constitute an acceptable degree of quality with respect to such use. Any and all goodwill generated by the use of the Licensed Medtronic Trademarks under this <u>Section</u> <u>2.1</u> and <u>Section 2.3</u> shall inure solely to the benefit of Medtronic Licensors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo shall, as part of its Exit Plan under Section 2.07 of the Transitional Services Agreement for Regulatory Services, outline its plan for the submission (and associated timing) of all documents that are necessary with any relevant Governmental Authority to change

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the corporate, entity and business names and trade names of any applicable member of the SplitCo Group whose name contains any of the Licensed Medtronic Trademarks. Any changed names of SplitCo should not include any of the Licensed Medtronic Trademarks or any Trademark that is confusingly similar thereto or dilutive thereof.

**Section 2.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>License Grant from SplitCo to Medtronic</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions of this Agreement, SplitCo Licensors hereby grant to the Medtronic Licensees a non-exclusive, non-sublicensable (except as set forth in <u>Section 2.2(b)</u>), non-assignable (except as set forth in <u>Section 6.2</u>), royalty-free, fully paid-up worldwide license, to use the Licensed SplitCo Trademarks as such Licensed SplitCo Trademarks were used as of the Separation Date in the Medtronic Business (including any proposed uses in progress at the Separation Date that cannot be suspended without significant cost) and for the time periods set forth in <u>Article 5</u> herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Any Medtronic Licensee may sublicense any of the rights granted to it pursuant to <u>Section 2.1(a)</u> and <u>Section 2.3</u> to its Affiliates; provided any such sublicense must be bound in writing and contain terms and conditions no less restrictive on the sublicensee and no less protective of the Licensed SplitCo Trademarks than those contained in this Agreement. Medtronic will ensure that each of its sublicensees complies with the terms of its sublicense, and any act or omission of any sublicensee of Medtronic shall be deemed an act or omission of Medtronic and Medtronic shall be responsible and liable for any breach of this Agreement by any of its sublicensees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Medtronic Licensees may grant permissions (not sublicenses), subject to the restrictions, limitation and obligations of the rights granted under this <u>Section 2.1</u> and <u>Section</u> <u>2.3</u> to their customers, suppliers, and distributors to make limited use, during the Term, of the Licensed SplitCo Trademarks to designate the source of the Licensed Products in the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo Licensors shall have the right to exercise reasonable quality control over the use of the Licensed SplitCo Trademarks by the Medtronic Licensees as reasonably required to maintain the validity and enforceability of the Licensed SplitCo Trademarks and to protect the goodwill associated therewith, provided that the Parties acknowledge and agree that continued use of the Licensed SplitCo Trademarks consistent with the use thereof prior to the Separation Date shall constitute an acceptable degree of quality with respect to such use. Any and all goodwill generated by the use of the Licensed SplitCo Trademarks under this <u>Section 2.2</u> and <u>Section 2.3</u> shall inure solely to the benefit of SplitCo or the applicable member of the SplitCo Group.

**Section 2.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Mutual Grant of Limited Trademark Licenses For Providing</u> <u>Services</u>**. Each Party hereby grants to the other Party a limited, non-exclusive, royalty free, fully paid-up, non-sublicensable (except as set forth in <u>Section 2.1(b)</u> and <u>Section 2.2(b)</u>, as applicable), non-transferable (other than pursuant to <u>Section 6.2</u>), worldwide license under the Licensed Medtronic Trademarks or Licensed SplitCo Trademarks, as applicable, solely to the extent reasonably necessary to perform the services under the applicable Ancillary Agreements

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in a form and manner, and with standards of quality, substantially consistent with past practice of the use of the Licensed Medtronic Trademarks or Licensed SplitCo Trademarks, as applicable. Each Licensor shall have the right to exercise reasonable quality control over the use of the Licensed Medtronic Trademarks by the SplitCo Licensees, or the use of the Licensed SplitCo Trademarks by the Medtronic Licensees, as applicable, as reasonably required to maintain the validity and enforceability of the Licensed Medtronic Trademarks or the Licensed SplitCo Trademarks to protect the goodwill associated therewith. Such limited licenses set forth in this <u>Section 2.3</u> shall terminate upon the termination of such applicable Ancillary Agreement.

**Section 2.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Implied Restrictions or Licenses; Reservation of Rights</u>**. Nothing contained in this Agreement shall be construed as conferring any rights by implication, estoppel or otherwise, under any Intellectual Property other than the rights expressly granted in this Agreement with respect to the Licensed Medtronic Trademarks or Licensed SplitCo Trademarks, as applicable. All rights not expressly granted in this Agreement are reserved by Licensors.

**ARTICLE 3**

**LICENSED IP OWNERSHIP, MAINTENANCE AND ENFORCEMENT, USE OF LICENSED TRADEMARKS**

**Section 3.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement</u>**. Each Licensee hereby acknowledges that, as between the Parties, (i) a Medtronic Licensor is the sole and exclusive owner of all right, title and interest in and to the Licensed Medtronic Trademarks and (ii) a SplitCo Licensor is the sole and exclusive owner of all right, title and interest in and to the Licensed SplitCo Trademarks.

**Section 3.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Responsibility for Licensed IP</u>**. Each Licensor shall have the exclusive right (but not the obligation) to prepare, file, prosecute, issue, maintain, assign, dispose of, enforce, abandon and terminate the Licensed Medtronic Trademarks or Licensed SplitCo Trademarks, as applicable, at its sole discretion and expense. In the event such Licensor decides to take action against any infringement or threatened infringement or misappropriation of the Licensed Medtronic Trademarks or Licensed SplitCo Trademarks, as applicable, Licensee agrees to reasonably assist such Licensor in whatever manner Licensor directs, at the expense of such Licensor. Recovery of damages resulting from any such action shall be solely for the account of Licensor. Licensee will provide information reasonably requested by Licensor in any such action, including in connection with the calculation of damages.

**Section 3.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictions on Use</u>**. Each Licensee shall not use the Licensed Trademarks in a manner that could be detrimental to the value of, or goodwill symbolized by, the Licensed Trademarks or that is reasonably likely to injure, harm or reflect unfavorably on the reputation of Licensor or its Affiliates. Each Licensee shall not use the Licensed Trademarks in any manner that would tarnish or dilute them in any way and shall not use the Licensed Trademarks in a descriptive or generic manner. In no event shall Licensee use or register (or permit the use or registration of) the Licensed Trademarks, or any Trademark confusingly similar thereto, as part of a legal entity name or trade name or Domain Names (except as set forth in <u>Section 5.1</u>) or any other type of name or authorize others to do so or as part of any combination

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of marks, sub-branding or co-branding (e.g., Licensor/Licensee, Licensee/Licensor or any other combination of Licensor and Licensee), without the express written approval of Licensor.

**ARTICLE 4**

**DISCLAIMER OF WARRANTIES; LIMITATION OF LIABILITY; INDEMNIFICATION**

**Section 4.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclaimer of Warranties</u>**. NO EXPRESS OR IMPLIED WARRANTIES ARE GIVEN BY MEDTRONIC LICENSORS OR SPLITCO LICENSORS WITH RESPECT TO ANY LICENSED MEDTRONIC TRADEMARKS OR LICENSED SPLITCO TRADEMARKS OR ANY OTHER MATTER OR SUBJECT ARISING OUT OF THIS AGREEMENT, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ANY IMPLIED WARRANTY ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE, OR REGARDING THE VALIDITY, REGISTRABILITY, SCOPE, ENFORCEABILITY OR NON-INFRINGEMENT OF ANY TRADEMARKS. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, EACH LICENSEE ACKNOWLEDGES THAT THE LICENSES GRANTED IN THIS AGREEMENT AND THE LICENSED MEDTRONIC TRADEMARKS AND LICENSED SPLITCO TRADEMARKS ARE PROVIDED "AS IS."

**Section 4.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>LIMITATION OF LIABILITY</u>**. IN NO EVENT SHALL A PARTY BE LIABLE TO ANY OTHER PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES IN ANY WAY RELATED TO OR ARISING FROM THIS AGREEMENT OR THE LICENSED MEDTRONIC TRADEMARKS OR LICENSED SPLITCO TRADEMARKS, UNDER ANY THEORY OF LAW, INCLUDING, CONTRACT, TORT OR STRICT LIABILITY, WHETHER OR NOT THE OTHER PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

**Section 4.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification</u>**. The provisions of Article VI of the Separation Agreement shall govern any and all Liabilities or indemnification under or in connection with this Agreement.

**ARTICLE 5**

**TERM**

**Section 5.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Term</u>**. The term of this Agreement shall commence on the Separation Date and continue for a period of five (5) years following the Separation Date (the "<u>Term</u>"). Notwithstanding the foregoing, the Parties agree that (i) the licenses granted in <u>Section 2.3</u> shall terminate upon the termination of the applicable Ancillary Agreement and (ii) the following uses of the Licensed Medtronic Trademarks shall be limited to the time periods for use of the same, as described in detail below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Use of the Licensed Medtronic Trademarks on any internal and external product packaging and labels (including images of such product packaging and labels in other materials) shall terminate within four (4) years from the Separation Date. If at such termination date SplitCo continues to make such uses of the Licensed Medtronic Trademarks despite

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commercially reasonable efforts to terminate use (as certified in writing to Medtronic), this period shall be extended by additional one-year extensions from such termination (each one-year period subject to prior written certification), but, in any event, not to exceed five (5) years from the Separation Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Use of the Licensed Medtronic Trademarks in the corporate name of any SplitCo legal entity (other than use on labels or other packaging and related product materials in use as of the Separation Date) shall terminate: within four (4) years from the Separation Date, or, where the name change for such legal entities occurs after the Separation Date, within one (1) year of such change of name. If at such termination date SplitCo continues to make such uses of the Licensed Medtronic Trademarks despite commercially reasonable efforts to terminate use (as certified in writing to Medtronic), this period shall be extended by additional one-year extensions from such termination (each one-year period subject to written certification), but, in any event not to exceed five (5) years from the Separation Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Use of the Licensed Medtronic Trademarks in any stationery, administrative, employment, communications (internal and external) and similar materials shall terminate within one (1) year from the Separation Date. Notwithstanding the foregoing, if the use of the Licensed Medtronic Trademarks in such materials is incorporated in a legal entity name, then the termination date for such use shall be within one (1) year of the change of such legal entity name but not to exceed five (5) years from the Separation Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Use of the Licensed Medtronic Trademarks in any website (intranet or extranet) content (other than images of product packaging and labels as permitted under Section 5.01(a)), social media content (except historical posts), and other digital content uses shall terminate within one (1) year from the Separation Date. Notwithstanding the foregoing, if the use of the Licensed Medtronic Trademarks in such materials is incorporated in a legal entity name, then the termination date for such use shall be within one (1) year of the change of such legal entity name but not to exceed five (5) years from the Separation Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Active SplitCo websites with Domain Names containing Licensed Medtronic Trademarks ("<u>Transitional Domain Names</u>") shall be reassigned to a new Domain Name which does not contain any Licensed Medtronic Trademarks ("<u>New SplitCo Domain Name</u>") (i) within one (1) year after the Separation Date, or (ii) for Transitional Domain Names that correspond to a legal entity name, within one (1) year after the change of the associated legal entity name, but in no event longer than five (5) years. After transitioning, SplitCo shall be permitted to maintain such Transitional Domain Names solely to redirect to the corresponding New SplitCo Domain Name, but it shall terminate all such uses of the Transitional Domain Names within five (5) years after the Separation Date. If at such termination date, SplitCo continues to make such uses of the Transitional Domain Names, despite commercially reasonable efforts to terminate use (as certified in writing to Medtronic), this period for continued use solely for redirecting to the New SplitCo Domain Name shall be extended by an additional three (3) years.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Use of the Licensed Medtronic Trademarks in interior and exterior facilities signage, manufacturing and supply chain machinery, and vehicles shall terminate within two (2) years from the Separation Date. Notwithstanding the foregoing, if the use of the Licensed Medtronic Trademarks in such materials is incorporated in a legal entity name, then the termination date for

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such use shall be within two (2) years of the change of such legal entity name but not to exceed five (5) years from the Separation Date.

To the extent SplitCo Licensees are not able to cease use of any of the Licensed Medtronic Trademarks within the Term for <u>Sections 5.1(a)</u> and <u>(b</u>) due solely to any requirement of applicable Law or any delay or other action of any Governmental Authority, which SplitCo can show with evidence sufficient for Medtronic to verify such delay, upon SplitCo's request, Medtronic may grant, at its discretion, the SplitCo Licensees a reasonable extension of any such deadline not to exceed an additional six (6) months for each such request to accommodate such circumstances; provided that SplitCo continues to use all reasonable efforts to prosecute any applicable name changes with any relevant Government Authority.

**Section 5.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination</u>**. Either Party may terminate this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;if the other Party materially breaches the terms of this Agreement (including the quality control provisions and the trademark use provisions) and such breach is not cured within one-hundred and twenty (120) days after notice thereof (except to the extent that such breach is not reasonably capable of being cured, in which case the license may be terminated immediately upon written notice to the other Party); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;if at any time and to the extent the license granted under this Agreement is no longer permitted under applicable Law.

**Section 5.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Termination</u>**. Upon expiration or earlier termination of this Agreement, the licenses set forth herein shall terminate immediately, and Licensee and its Affiliates shall refrain immediately from all further use of the Licensed Trademarks, except for limited historical and archival purposes, and shall not distribute, sell or otherwise dispose of any product or service, or related materials or literature, bearing any Licensed Trademarks.

**Section 5.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival</u>**. The Parties rights and obligations set forth in the following Articles and Sections shall survive the termination of this Agreement: <u>Article 1</u> (Definitions), <u>Section 3.1</u> (Acknowledgment), <u>Article 4</u> (Disclaimer of Warranties; Limitation of Liability; Indemnification), and <u>Article 6</u> (Miscellaneous).

**ARTICLE 6**

**MISCELLANEOUS**

**Section 6.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>**. All notices or other communications under this Agreement shall be in writing and shall be deemed to be duly given (a) when delivered in person, (b) on the date received, if sent by a nationally recognized delivery or courier service or (c) upon the earlier

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of confirmed receipt or the fifth Business Day following the date of mailing if sent by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

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| | |
|:---|:---|
| If to Medtronic: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic Group Holding, Inc.<br>Medtronic Operational Headquarters<br>710 Medtronic Parkway<br>Minneapolis, MN 55432<br>Attention: Senior Vice President, Corporate Development<br>Senior Legal Director, Business Development<br>Email: |
|  | with a copy (which shall not constitute notice) to: |
|  | Cleary Gottlieb Steen & Hamilton LLP<br>650 California Street<br>San Francisco, CA 94108 <br>Attention: Benet J. O'Reilly<br>Email: <br>and<br>Cleary Gottlieb Steen & Hamilton LLP<br>One Liberty Plaza<br>New York, New York 10006<br>Tel: (212) 225-2000<br>Attention: Kimberly R. Spoerri<br>Email:  |
| If to SplitCo: | Kangaroo US HoldCo, Inc.<br>1800 Devonshire Street<br>Northridge, CA<br>Attention: Courtney Nelson Wills, General Counsel<br>Email:  |
|  | with a copy (which shall not constitute notice) to: |

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 <br> Cleary Gottlieb Steen & Hamilton LLP650 California StreetSan Francisco, CA 94108Attention: Benet J. O'ReillyEmail: andCleary Gottlieb Steen & Hamilton LLPOne Liberty PlazaNew York, NY 10006Attention: Kimberly R. SpoerriEmail:

**Section 6.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Assignment</u>**. Neither this Agreement nor any of the rights, interests or obligations hereunder may be assigned, transferred or delegated, in whole or in part by either Party, whether in a single transaction or in a series of transactions, without the express written consent of the other Party, and any purported assignment, transfer, license, sublicense or delegation in contravention of this <u>Section 6.2</u> shall be null and void *ab initio*; provided, further, that upon the effective time of the SplitCo Merger, SplitCo Parent shall, automatically and without any action from any other Person (including the requirements described in the immediately foregoing proviso), succeed to all of SplitCo's rights and obligations under this Agreement and shall expressly assume and agree to perform, discharge, and be bound by all of SplitCo's obligations, covenants, and liabilities under this Agreement and all Ancillary Agreements to which the Initial SplitCo Party is a party as of the effective time of the SplitCo Merger. Subject to the preceding sentences of this <u>Section 6.2</u>, this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the Parties and their respective successors and permitted assigns.

**Section 6.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Relationship of Parties</u>**. Nothing contained in this Agreement will be deemed or construed as creating a joint venture or partnership between the Parties hereto. No Party is by virtue of this Agreement authorized as an agent, employee or legal representative of the other Parties. No Party will have the power to control the activities and operations of the others and their status is, and at all times will continue to be, that of independent contractors with respect to each other. No Party will have any power or authority to bind or commit the other Parties. No Party will hold itself out as having any authority or relationship in contravention of this <u>Section 6.3</u>.

**Section 6.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Remedies</u>**. Any and all remedies herein expressly conferred upon a Party will be deemed cumulative with and not exclusive of any other remedy expressly conferred hereby, and the exercise by a Party of any one such remedy will not preclude the exercise of any other such remedy.

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**Section 6.5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law; Submission to Jurisdiction; Waiver of Jury Trial</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement shall be governed by, and construed in accordance with, the Laws of the State of Delaware, regardless of the Laws that might otherwise govern under applicable principles of conflicts of Laws thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Party irrevocably consents to the exclusive jurisdiction, forum and venue of the Court of Chancery of the State of Delaware or, if (and only if) the Court of Chancery of the State of Delaware finds it lacks subject matter jurisdiction, the federal court of the United States sitting in Delaware or, if (and only if) the federal court of the United States sitting in Delaware finds it lacks subject matter jurisdiction, the Superior Court of the State of Delaware, and appellate courts thereof, over any and all claims, disputes, controversies or disagreements between the Parties or any of their respective Subsidiaries, Affiliates, successors and assigns under or related to this Agreement or any document executed pursuant to this Agreement or any of the transactions contemplated hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;EACH OF THE PARTIES ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH OF THE PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT. EACH OF THE PARTIES CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT, IN THE EVENT OF ANY LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH OF THE PARTIES UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH OF THE PARTIES MAKES THIS WAIVER VOLUNTARILY AND (D) EACH OF THE PARTIES HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>Section 1.1(c)</u>.

**Section 6.6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Incorporation of Certain Sections of the Separation Agreement</u>**. Section 11.01 (Counterparts; Entire Agreement), Section 11.02 (Dispute Resolution), Section 11.04 (Third-Party Beneficiaries), Section 11.06 (Severability), Section 11.08 (Expenses), Section 11.09 (Headings), Section 11.12 (Specific Performance), Section 11.14 (Amendments; Waivers), and Section 11.16 (Interpretation) of the Separation Agreement are incorporated herein by reference and shall apply to this Agreement *mutatis mutandis*.

[*Signature Pages Follow*]

------

**IN WITNESS WHEREOF**, the Parties have caused this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.

---

| | |
|:---|:---|
| **MEDTRONIC GROUP HOLDING, INC.** | **MEDTRONIC GROUP HOLDING, INC.** |
| By: | /s/ Brian Sandstrom |
|  | Name: Brian Sandstrom |
|  | Title: Vice President and Secretary |

---

[Signature Page to the Transitional Trademark Cross-License Agreement]

------

---

| | |
|:---|:---|
| **KANGAROO US HOLDCO 2, INC.** | **KANGAROO US HOLDCO 2, INC.** |
| By: | /s/ Chris Eso |
|  | Name: Chris Eso |
|  | Title: President |

---

[Signature Page to the Transitional Trademark Cross-License Agreement]

------

**<u>Exhibit A</u>**

**Licensed Medtronic Trademarks**

[Exhibit A]

------

**<u>Exhibit B</u>**

**Licensed SplitCo Trademarks**

[Exhibit B]

## Exhibit 10.7

**Exhibit 10.7**

**CO-EXISTENCE AGREEMENT**

This CO-EXISTENCE AGREEMENT (this "<u>Agreement</u>") is entered into effective as of March 1, 2026, by and between Medtronic Group Holding, Inc., a Minnesota corporation ("<u>Medtronic</u>"), and Kangaroo US HoldCo 2, Inc., (prior to the SplitCo Merger (as defined below), "SplitCo" and, following the SplitCo Merger, ("<u>Initial SplitCo Party</u>")), which on or before the Separation Date shall be merged with and into MiniMed Group, Inc., a Delaware corporation ("<u>SplitCo Parent</u>" whether prior to or following the SplitCo Merger), and, following the SplitCo Merger, ("<u>SplitCo</u>") with SplitCo Parent surviving such merger (the "<u>SplitCo</u> <u>Merger</u>") and continuing as "SplitCo" hereunder) (Medtronic and SplitCo each a "<u>Party</u>," and together, the "<u>Parties</u>").

**RECITALS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.WHEREAS, in connection with the Separation Agreement, dated as of March 1, 2026, by and between SplitCo and Medtronic (the "<u>Separation Agreement</u>"), (a) Medtronic and its shareholders determined that it is desirable and appropriate to transfer certain assets and liabilities to SplitCo and for SplitCo to conduct and operate the SplitCo Business, and (b) Medtronic will conduct and operate the Medtronic Business; and pursuant to which Medtronic assigned to SplitCo certain trademarks including but not limited to those on Exhibit A; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.Whereas, this Agreement is an Ancillary Agreement pursuant to the Separation Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.Whereas, following the Separation Date, SplitCo or its applicable Affiliate is or will be the owner of record of the trademark registrations and applications listed on Exhibit A;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.Whereas, Medtronic or its applicable Affiliate is the owner of record of the trademark registrations and applications listed on Exhibit B.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E.Whereas, Medtronic does not object to SplitCo registering, using and exercising all the rights of ownership of the marks on Exhibit A, or any other mark incorporating the word CARELINK, so long as the registration and use of each such mark is restricted to the SplitCo Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F.Whereas, SplitCo does not object to Medtronic registering, using and exercising all the rights of ownership of the marks on Exhibit B, or any other mark incorporating the word CARELINK, so long as the registration and use of each such mark is unrelated to the SplitCo Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G.Whereas Medtronic and SplitCo recognize and acknowledge they offer their goods and services in different fields and target different consumers, and that Medtronic's goods and services offered under the marks on Exhibit B and/or any other CARELINK formative marks that Medtronic may use at any time in the

------

future or at present, whether registered or unregistered, are unrelated to the SplitCo Business, and that SplitCo's goods and services offered under the marks on Exhibit A and/or any other CARELINK formative marks that SplitCo may use at any time in the future or at present, whether registered or unregistered, are offered only in connection with the SplitCo Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H.Whereas, the Parties agree that, based upon their experience in their respective industries and the differences between the Parties' marks in certain cases, differences in their respective goods and services, differences in the consumers and the sophistication of the consumers, and/or channels of trade, there is no likelihood of confusion, mistake, or deception caused by Medtronic's registration and/or use of the marks on Exhibit B and/or any other CARELINK formative marks that Medtronic may use at any time in the future or at present, whether registered or unregistered, and SplitCo's registration and/or use of the marks on Exhibit A and/or any other CARELINK formative marks that SplitCo may use at any time in the future or at present, whether registered or unregistered, so long as SplitCo's use is restricted to the SplitCo Business and Medtronic's use is unrelated to the SplitCo Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I.Medtronic has no objection to SplitCo's continued use and registration of SplitCo's marks listed on Exhibit A so long as SplitCo's use is restricted to the SplitCo Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J.SplitCo has no objection to Medtronic's continued use and registration of the marks listed on Exhibit B so long as Medtronic's use is unrelated to the SplitCo Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;K.The Parties desire to continue to avoid any likelihood of confusion, mistake, or deception as a result of their respective use and registration of their marks.

**AGREEMENT**

NOW THEREFORE, in consideration of the promises and mutual obligations and undertakings set forth herein, the Parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Separation Agreement. As used in this Agreement, the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a."<u>Medtronic Business</u>" means the business and operations conducted (including business and operations not yet commercialized) by Medtronic and its Subsidiaries other than the SplitCo Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b."<u>Parties</u>" and "<u>Party</u>" have the meaning assigned in the preamble hereto.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c."<u>Person</u>" means an individual, a general or limited partnership, a corporation, a trust, a joint venture, an unincorporated organization, a limited liability company, any other entity and any Governmental Authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.<u>"SplitCo Business</u>" means the business and operations constituting Medtronic's Diabetes operating unit (as further described in the IPO Registration Statement), including the brands and product lines (i) sold by such segment as of or prior to the Separation Date or (ii) otherwise set forth on <u>Schedule V</u> (as listed in the Separation Agreement). Notwithstanding the foregoing, the brands and product lines of all Medtronic operating units and businesses other than the Diabetes operating unit shall be deemed part of the Medtronic Business, and not part of the SplitCo Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e."<u>Subsidiary</u>" of any Person means any corporation or other organization, whether incorporated or unincorporated, of which at least a majority of the securities or interests having by the terms thereof ordinary voting power to elect at least a majority of the board of directors or others performing similar functions with respect to such corporation or other organization, is directly or indirectly owned or controlled by such Person or by any one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.SplitCo consents to Medtronic's continued use and registration of the marks on Exhibit B and any other CARELINK formative marks that Medtronic may register and/or use at any time in the future or at present, whether registered or unregistered, including in any and all territories and/or jurisdictions where SplitCo has or may acquire earlier registered rights, so long as Medtronic's use of any CARELINK formative mark is not in connection with the SplitCo Business. SplitCo further agrees it will not oppose, seek to cancel, take action against, or otherwise object to or challenge any use of, application for, or registration of a CARELINK formative mark owned by Medtronic so long as the proposed or actual use of the mark is not in connection with the SplitCo Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Medtronic consents to SplitCo's continued use and registration of the marks on Exhibit A and any other CARELINK formative marks that SplitCo may register and/or use at any time in the future or at present, whether registered or unregistered, including in any and all territories and/or jurisdictions where Medtronic has or may acquire earlier registered rights, so long as SplitCo's use of any CARELINK formative mark is solely in connection with the SplitCo Business. Medtronic further agrees it will not oppose, seek to cancel, take any action against, or otherwise object to or challenge any use of, application for, or registration of a CARELINK formative mark owned by SplitCo so long as the proposed or actual use of the mark is solely in connection with the SplitCo Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The Parties agree that if, in the future, either Party is apprised of any evidence of actual confusion, mistake, or deception with regard to the respective use of their marks that is materially adversely affecting the SplitCo Business or Medtronic Business, as the case may be, the Party receiving and possessing such information shall promptly make the same available in detail to the other Party. Thereafter, the Parties, through their authorized officers,

------

representatives, and/or attorneys, shall confer for the purpose of jointly considering such evidence and taking the necessary steps to eliminate such confusion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The Parties agree that the use and registration by SplitCo of CARELINK formative marks, including but not limited to those in Exhibit A, for use solely in connection with the SplitCo Business, and use and registration by Medtronic of CARELINK formative marks, including but not limited to those in Exhibit B, for uses unrelated to the SplitCo Business, is not likely to cause confusion, to cause mistake, or to deceive consumers because of differences in appearance between some or all of SplitCo's CARELINK formative marks and Medtronic's CARELINK formative marks, differences in the goods and services offered by SplitCo and the goods and services offered by Medtronic, and differences in the consumers of SplitCo's goods and services and the consumers of Medtronic's goods and services, and the sophistication of the consumers of SplitCo and Medtronic.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.The Parties agree that the use and registration by SplitCo of CARELINK formative marks is not likely to cause confusion, to cause mistake, or to deceive so long as SplitCo's use is related to the SplitCo Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.The Parties agree that use and registration by Medtronic of CARELINK formative marks is not likely to cause confusion, to cause mistake, or to deceive so long as Medtronic's use is unrelated to the SplitCo Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.The Parties agree that neither Party will oppose or object to the use and registration of CARELINK formative marks by the other Party and the other Party's successors, assigns, affiliates, subsidiaries and related companies so long as such use and registration is in accord with this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.The Parties agree to execute and deliver any further documents, agreements, letters and the like, including but not limited to agreements to temporarily assign and assign back any application(s) for a CARELINK-formative mark, as may be needed and/or reasonably necessary in any jurisdiction to carry out the intended purpose of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.The Parties will cooperate in good faith in connection with the enforcement of CARELINK formative marks by the other Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.All provisions of this Agreement shall be severable. The validity of any provision shall not affect the validity of the remaining provisions. In the event of the invalidity of any provision, this Agreement shall be interpreted and enforced as if such provision were not contained in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.The Parties represent and warrant that they have full authority to execute, deliver and perform this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.This Agreement shall be worldwide in application and may be filed with any Trademark Office in the world including the United States Patent and Trademark Office.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.This Agreement shall be binding on the Parties and their respective affiliates, subsidiaries and related companies and permitted successors and assigns. Neither Party may assign or otherwise transfer any of its rights, or delegate or other transfer any of its obligations or performance, under this Agreement, in each case whether voluntarily, involuntarily, by operation of law, or otherwise, without the other Party's prior written consent; provided, further, that upon the effective time of the SplitCo Merger, SplitCo Parent shall, automatically and without any action from any other Person (including the requirements described in the immediately foregoing proviso), succeed to all of SplitCo's rights and obligations under this Agreement and shall expressly assume and agree to perform, discharge, and be bound by all of SplitCo's obligations, covenants, and liabilities under this Agreement and all Ancillary Agreements to which the Initial SplitCo Party is a party as of the effective time of the SplitCo Merger. Any successor or assign shall assume all obligations of its predecessor or assignor, as applicable, under this Agreement. SplitCo may not assign or otherwise transfer any of its rights in the marks on Exhibit A, or any other mark that is subject to this Agreement, and Medtronic may not assign or otherwise transfer any of its rights in the marks on Exhibit B, or any other mark that is subject to this Agreement, in either case, to any other individual, corporation, partnership, joint venture, limited liability company, governmental authority, unincorporated organization, trust, association or other entity (including any of its affiliates), unless that individual or entity agrees in writing to be bound by the terms and conditions of this Agreement and the transferring Party provides prior written notification of the assignment to the non-transferring Party. For purposes of this Section 14, any merger, consolidation, or reorganization involving a Party (regardless of whether that Party is a surviving or disappearing entity) will be deemed to be a transfer of rights, obligations, or performance under this Agreement or a transfer of such Party's mark subject to the requirements of this Section 14. No delegation or other transfer will relieve the delegating or transferring Party of any of its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.This Agreement may not be modified except in writing signed by both Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.Article VI (Indemnification), Section 11.01 (Counterparts; Entire Agreement), Section 11.02 (Dispute Resolution), Section 11.04 (Third-Party Beneficiaries), Section 11.08 (Expenses), Section 11.09 (Headings), Section 11.12 (Specific Performance), and Section 11.16 (Interpretation) of the Separation Agreement are incorporated herein by reference and shall apply to this Agreement *mutatis mutandis*.

[*Signature Pages Follow*]

------

**IN WITNESS WHEREOF**, the Parties have caused this Agreement to be executed by their respective officers thereunto duly authorized.

---

| | |
|:---|:---|
| **MEDTRONIC GROUP HOLDING, INC.** | **MEDTRONIC GROUP HOLDING, INC.** |
| By: | /s/ Brian Sandstrom&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Name: | Brian Sandstrom&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Title: | Vice President and Secretary |
| &nbsp;&nbsp;Date: | March 1, 2026&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **KANGAROO US HOLDCO 2, INC.** | **KANGAROO US HOLDCO 2, INC.** |
| By: | /s/ Chris Eso&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Name: | Chris Eso&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Title: | President&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Date: | March 1, 2026&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

[Signature Page to Trademark Co-Existence Agreement]

------

**Exhibit A**

**SplitCo CARELINK Marks**

[Exhibit A]

------

**Exhibit B**

**Medtronic CARELINK Marks**

[Exhibit B]

## Exhibit 10.8

**Exhibit 10.8**

TRANSITION SERVICES AGREEMENT

by and between

Medtronic Group Holding, Inc.

and

Kangaroo US HoldCo 2, Inc.

<u>Dated as of March 1, 2026</u>

------

<u>**TABLE OF CONTENTS**</u>

---

| | | |
|:---|:---|:---|
| <u>Page</u> | <u>Page</u> | <u>Page</u> |
| ARTICLE I Definitions | ARTICLE I Definitions | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 1.01 | Definitions | 1 |
| ARTICLE II Services | ARTICLE II Services | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 2.01 | Provision of Services | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 2.02 | Service Amendments and Additions | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 2.03 | Migration Projects | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 2.04 | No Management Authority | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 2.05 | Acknowledgement and Representation | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 2.06 | SplitCo Operations | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 2.07 | Exit Plans; Transactions | 12 |
| ARTICLE III Additional Arrangements | ARTICLE III Additional Arrangements | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 3.01 | Cooperation and Access | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 3.02 | Data Privacy | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 3.03 | Intellectual Property | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 3.04 | Misdirected Funds | 16 |
| ARTICLE IV Compensation | ARTICLE IV Compensation | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.01 | Compensation for Services | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.02 | Payment Terms. | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.03 | DISCLAIMER OF WARRANTIES | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.04 | Books and Records | 20 |
| ARTICLE V Term |  | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.01 | Commencement | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.02 | Service Extension | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.03 | Termination | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.04 | Partial Termination | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 5.05 | Effect of Termination | 22 |
| ARTICLE VI Indemnification; Limitation of Liability | ARTICLE VI Indemnification; Limitation of Liability | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 6.01 | Indemnification by SplitCo | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 6.02 | Indemnification by Medtronic | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 6.03 | Indemnification Procedures | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 6.04 | Exclusion of Other Remedies | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 6.05 | Other Indemnification Obligations Unaffected | 25 |

---

i

------

<u>Page</u>

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 6.06 | Limitation on Liability | 25 |
| ARTICLE VII Other Covenants | ARTICLE VII Other Covenants | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 7.01 | Further Assurances | 26 |
| ARTICLE VIII Dispute Resolution | ARTICLE VIII Dispute Resolution | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 8.01 | General | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 8.02 | Functional Leads; Transition Committee | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 8.03 | Vice President Referral | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 8.04 | Court-Ordered Interim Relief | 27 |
| ARTICLE IX Miscellaneous | ARTICLE IX Miscellaneous | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.01 | Title to Equipment; Title to Data | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.02 | Force Majeure | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.03 | Separation Agreement | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.04 | Relationship of Parties | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.05 | Confidentiality | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.06 | Counterparts; Entire Agreement | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.07 | Governing Law; Jurisdiction | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.08 | WAIVER OF JURY TRIAL | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.09 | Specific Performance | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.10 | Assignability | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.11 | Third-Party Beneficiaries | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.12 | Notices | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.13 | Severability | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.14 | Headings | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.15 | Waivers of Default | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.16 | Amendments | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 9.17 | Interpretation | 32 |

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ii

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| |
|:---|
| <u>Schedules</u>: |
| Schedule A&nbsp;&nbsp;&nbsp;&nbsp;Services to be provided to SplitCo Group |
| Schedule B&nbsp;&nbsp;&nbsp;&nbsp;Services to be provided to Medtronic Group |
| Schedule C&nbsp;&nbsp;&nbsp;&nbsp;Related Services |
| Schedule D&nbsp;&nbsp;&nbsp;&nbsp;Service Coordinators |

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| |
|:---|
| <u>Exhibits</u>: |
| Exhibit A&nbsp;&nbsp;&nbsp;&nbsp;Data Protection  |

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i

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TRANSITION SERVICES AGREEMENT (this "<u>Agreement</u>"), dated as of March 1, 2026 (the "<u>Effective Date</u>"), by and among (i) Medtronic Group Holding, Inc., a Delaware corporation ("<u>Medtronic</u>"), and (ii) Kangaroo US HoldCo 2, Inc., a Delaware corporation ("<u>Initial SplitCo Party</u>"), which prior to the Separation Date shall be merged with and into MiniMed Group, Inc., a Delaware corporation ("<u>SplitCo Parent</u>"), with SplitCo Parent surviving such merger (the "<u>SplitCo Merger</u>") and continuing as "SplitCo" hereunder.

**RECITALS**

WHEREAS, the parties have entered into that certain Separation Agreement (the "<u>Separation Agreement</u>"), dated as of March 1, 2026;

WHEREAS, effective upon the Effective Date, (a) SplitCo desires to purchase from Medtronic (and/or its designee(s)), and Medtronic (and/or its designee(s)) is willing to provide to SplitCo, certain services, in order to (i) facilitate SplitCo's operation of the SplitCo Business after the Separation Date and (ii) provide SplitCo the opportunity to obtain alternate sources of such services within a reasonable time after the Separation Date and (b) Medtronic desires to purchase from SplitCo (and/or its designee(s)), and SplitCo (and/or its designee(s)) is willing to provide to Medtronic, certain services, in order to (i) facilitate Medtronic's operation of the Medtronic Business after the Separation Date and (ii) provide Medtronic the opportunity to obtain alternate sources of such services within a reasonable time after the Separation Date; and

WHEREAS, each of Medtronic and SplitCo desires to reflect the terms of their agreement with respect to such services.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are acknowledged by this Agreement, Medtronic and SplitCo, for themselves, their successors and assigns, agree as follows:

**ARTICLE I**

**Definitions**

Section 1.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Definitions</u>. Capitalized terms used but not defined herein shall have the meaning set forth in the Separation Agreement. As used in this Agreement, the following terms have the following meanings:

"<u>Additional Services</u>" has the meaning ascribed thereto in <u>Section 2.02(b)</u>.

"<u>Affiliate</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Agreement</u>" has the meaning ascribed thereto in the preamble.

"<u>Ancillary Agreements</u>" has the meaning ascribed thereto in the Separation Agreement.

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"<u>Applicable End Date</u>" means, with respect to each Service, the final date of the Applicable Original Duration with respect to such Service that follows an Applicable Termination Date for such Service; provided that, in no event will the Applicable End Date be later than two (2) years after the Separation Date. 

"<u>Applicable Original Duration</u>" means, with respect to each Service, the duration of the period from the Effective Date to the Applicable Termination Date with respect to such Service.

"<u>Applicable Termination Date</u>" means, with respect to each Service, the date that is twelve (12) months following the Effective Date, or such earlier or later termination date specified with respect to such Service, as applicable, in <u>Schedule A</u> or <u>Schedule B</u>, as applicable.

"<u>Assets</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Background Assets</u>" means any Assets (including Intellectual Property): (i) existing as of the Effective Date and that are owned by a Party or its Affiliates; (ii) acquired by a Party or its Affiliates after the Effective Date; or (iii) made, conceived, or developed by a Party or its Affiliates outside of any Services provided under this Agreement.

"<u>Cap</u>" has the meaning ascribed thereto in <u>Section 6.06(c)</u>.

"<u>Consents</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Cost of Services</u>" means, with respect to each Service, the amount specified with respect to such Service in <u>Schedule A</u> or <u>Schedule B,</u> as applicable, to be paid by a Service Recipient in respect of such Service to the Service Provider of such Service.

"<u>Data Protection Laws</u>" has the meaning ascribed thereto in <u>Exhibit A</u>.

"<u>Deliverables</u>" has the meaning ascribed thereto in <u>Section 3.03(b)</u>.

"<u>Dispute</u>" has the meaning ascribed thereto in <u>Section 8.01</u>.

"<u>Dispute Notice</u>" has the meaning ascribed thereto in <u>Section 8.02</u>.

"<u>Excluded Services</u>" means any services that would be provided by Medtronic's Financial Planning & Analysis, Investor Relations, Treasury, Tax, Internal Audit or Legal & Compliance functions were they to be provided, other than those explicitly set forth in <u>Schedule A</u>.

"<u>Exit Plans</u>" has the meaning ascribed thereto in <u>Section 2.07</u>.

"<u>Force Majeure Event</u>" has the meaning ascribed thereto in <u>Section 9.02</u>.

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"<u>Functional Leads</u>" has the meaning ascribed thereto in <u>Section 2.01(d)</u>.

"<u>Functional Leads Negotiations</u>" has the meaning ascribed thereto in <u>Section</u> <u>2.01(c)</u>.

"<u>Governmental Authority</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Group</u>" means either the Medtronic Group or the SplitCo Group, as the context requires.

"<u>Indemnitee</u>" means a Medtronic Indemnitee or a SplitCo Indemnitee, as the context requires.

"<u>Information</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Intangible Developments</u>" has the meaning ascribed thereto in <u>Section 3.03(b)</u>.

"<u>Intellectual Property</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Intended Tax Treatment</u>" has the meaning ascribed thereto in the Tax Matters Agreement.

"<u>Interruption</u>" has the meaning ascribed thereto in <u>Section 2.01(k)</u>.

"<u>Law</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Liabilities</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Medtronic</u>" has the meaning ascribed thereto in the preamble.

"<u>Medtronic Business</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Medtronic Change of Contro</u>l" means any transaction or series of transactions by which a third party acquires all or a material portion of the Medtronic Business or the operation thereof, whether through an asset or stock sale, merger or other business combination.

"<u>Medtronic Group</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Medtronic Indemnitees</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Omitted Services</u>" has the meaning ascribed thereto in <u>Section 2.02(a)</u>.

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"<u>Partial Termination Estimate</u>" has the meaning ascribed thereto in <u>Section</u> <u>5.04(a)</u>.

"<u>Party</u>" means either party hereto, and "<u>Parties</u>" means both parties hereto.

"<u>Person</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Personal Data</u>" has the meaning ascribed thereto in <u>Exhibit A</u>.

"<u>Processed</u>" and "<u>Processing</u>" have the meaning ascribed thereto in <u>Exhibit A</u>.

"<u>Project Work</u>" has the meaning ascribed thereto in <u>Section 2.03</u>.

"<u>Project Work Request</u>" has the meaning ascribed thereto in <u>Section 2.03</u>.

"<u>Related Service</u>" has the meaning ascribed thereto in <u>Section 5.02</u>.

"<u>Separation</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Separation Agreement</u>" has the meaning ascribed thereto in the recitals.

"<u>Separation Date</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Service Coordinator</u>" has the meaning ascribed thereto in <u>Section 2.01(c)</u>.

"<u>Service Extension</u>" has the meaning ascribed thereto in <u>Section 5.02</u>.

"<u>Service Provider</u>" means any member of the SplitCo Group or the Medtronic Group, as applicable, in its capacity as the provider of any Services to any member of the Medtronic Group or the SplitCo Group, respectively.

"<u>Service Recipient</u>" means any member of the SplitCo Group or the Medtronic Group, as applicable, in its capacity as the recipient of any Services from any member of the Medtronic Group or the SplitCo Group, respectively.

"<u>Services</u>" means the individual services identified in <u>Schedule A</u> or <u>Schedule B</u>, as applicable; <u>provided</u>, <u>that</u>, in no event any Excluded Services be Services.

"<u>Shutdown</u>" has the meaning ascribed thereto in <u>Section 2.01(j)</u>.

"<u>SplitCo</u>" has the meaning ascribed thereto in the preamble.

"<u>SplitCo Business</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>SplitCo Change of Contro</u>l" means any transaction or series of transactions by which a third party acquires all or a material portion of the SplitCo Business or the operation thereof, whether through an asset or stock sale, merger or other business combination.

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"<u>SplitCo Group</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>SplitCo Indemnitees</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Sub-Contractor</u>" has the meaning ascribed thereto in <u>Section 2.01(f)</u>.

"<u>Subsidiary</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Tax Matters Agreement</u>" means the Tax Matters Agreement dated as of the date of the Separation Agreement by and between Medtronic and SplitCo.

"<u>Taxes</u>" has the meaning ascribed thereto in the Tax Matters Agreement.

"<u>Taxing Authority</u>" has the meaning ascribed thereto in the Tax Matters Agreement.

"<u>Termination Charges</u>" has the meaning ascribed thereto in <u>Section 5.05(d)</u>.

"<u>Termination Estimate Request Notice</u>" has the meaning ascribed thereto in <u>Section 5.04(a)</u>.

"<u>Third-Party Acquiror</u>" means any Person that acquires all or a portion of the SplitCo Business or the operation thereof, whether through an asset or stock sale, merger or other business combination.

"<u>Third-Party Claim</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Trademarks</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Transfer Taxes</u>" has the meaning ascribed thereto in <u>Section 4.01(c)</u>.

"<u>Transition Committee</u>" has the meaning ascribed thereto in <u>Section 8.02</u>.

"<u>Transition Committee Negotiations</u>" has the meaning ascribed thereto in <u>Section</u> <u>8.02</u>.

"<u>VAT</u>" has the meaning ascribed thereto in <u>Section 4.01(c)</u>.

"<u>Vice President Resolutions</u>" has the meaning ascribed thereto in <u>Section 8.03</u>.

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**ARTICLE II**

**Services**

Section 2.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Provision of Services</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Commencing on the Effective Date, Medtronic shall, and shall cause the applicable members of the Medtronic Group to, (i) provide, or otherwise make available, to SplitCo and the applicable members of the SplitCo Group the Services set forth in <u>Schedule A</u> and (ii) pay, perform, discharge and satisfy, as and when due, its and their respective obligations as Service Recipients of the Services set forth in <u>Schedule B</u>, in each case in accordance with the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Commencing on the Effective Date, SplitCo shall, and shall cause the applicable members of the SplitCo Group to, (i) provide, or otherwise make available, to Medtronic and the applicable members of the Medtronic Group the Services set forth in <u>Schedule</u> <u>B</u> and (ii) pay, perform, discharge and satisfy, as and when due, its and their respective obligations as Service Recipients of the Services set forth in <u>Schedule A</u>, in each case in accordance with the terms of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Each Service Recipient and its respective Service Provider shall cooperate in good faith with each other in connection with the performance of the Services hereunder. Each of Medtronic and SplitCo agrees to appoint an employee representative (each such representative, a "<u>Service Coordinator</u>") with the requisite skills, knowledge and experience who will have overall responsibility for implementing, managing and coordinating the Services pursuant to this Agreement on behalf of Medtronic and SplitCo, respectively. Initially, the Service Coordinators will be the individuals set forth on <u>Schedule D</u>. Either Party may change its designated Service Coordinator at any time upon notice given to the other Party in accordance with <u>Section 9.12</u>. The Service Coordinators will consult and coordinate with each other on a regular basis, and no less frequently than quarterly, during the term of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Medtronic and SplitCo shall establish and maintain a committee to oversee, manage and coordinate provision of Services pursuant to this Agreement (the "<u>Transition Committee</u>"). The Transition Committee shall be comprised of representatives from each of Medtronic and SplitCo consisting with the requisite skills, knowledge and experience to perform such tasks, including (i) a lead coordinator from each party to act as the primary contact person with respect to all issues relating to the provision of Services pursuant to this Agreement (such persons, the "<u>Lead Coordinators</u>") and (ii) Functional Leads from each of Medtronic and SplitCo for each functional area for which Services are being provide or received pursuant to this Agreement, as applicable (such persons, the "<u>Functional Leads</u>"). The Transition Committee shall hold review meetings by telephone, video conference or in person, as mutually agreed upon by the Lead Coordinators, approximately once per month, which such meetings shall be attended by the Lead Coordinators and such Functional Leads as are necessary for the relevant discussion. The Transition Committee meetings will address matters related to this Agreement, including (i) any issues relating to the provision of the Services, (ii) to the extent Service changes are to be implemented, the implementation of such changes and (iii) the Exit Plans pursuant to <u>Section</u> 

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<u>2.07</u>. Further, at each such meeting, the Lead Coordinator for Service Recipient shall provide an update on the status of the Exit Plans pursuant to <u>Section 2.07</u>. Each party may replace its appointed Lead Coordinator or other Transition Committee representatives at any time upon written notice to the other party. No such Lead Coordinator or delegate shall have the authority to amend this Agreement or any exhibit attached hereto in any respect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The Service Provider shall determine the personnel who shall perform the Services to be provided by it. All personnel providing Services will remain at all times, and be deemed to be, employees or representatives solely of the Service Provider, responsible for providing such Services (or its Affiliates or Sub-Contractors) for all purposes, and not to be deemed employees or representatives of the Service Recipient. All such personnel will be under the sole direction, control and supervision of the Service Provider and the Service Provider has the sole right to exercise all authority with respect to the employment, engagement, substitution, termination, assignment and compensation of such personnel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The Service Provider may, at its option, from time to time, delegate any or all of its obligations to perform Services under this Agreement to any one or more of its Affiliates or engage the services of other professionals, consultants or other third parties (each, a "<u>Sub-Contractor</u>") in connection with the performance of the Services; <u>provided</u>, <u>however</u>, that (i) the Service Provider shall remain ultimately responsible for ensuring that all of its obligations with respect to the manner, scope, time-frame, nature, quality or level, and other aspects of the Services are satisfied with respect to any Services provided by any such Affiliate or Sub-Contractor and shall be liable for any failure of a Sub-Contractor to so satisfy such obligations (or if a Sub-Contractor otherwise breaches any provision hereof) and (ii) such Sub-Contractor agrees in writing to be bound by confidentiality provisions at least as restrictive to it as the terms of <u>Section 9.05</u> of this Agreement. Except as agreed by the Parties in <u>Schedule A</u> or <u>Schedule B</u> or otherwise in writing, and subject to <u>Section 2.01(h)</u>, any costs associated with engaging the services of an Affiliate of the Service Provider or a Sub-Contractor shall not affect the Cost of Services payable by the Service Recipient under this Agreement, and the Service Provider shall remain solely responsible with respect to payment for such Affiliate's or Sub-Contractor's costs, fees and expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Except as mutually agreed upon, the Services shall be performed in substantially the same scope, time-frame, nature, quality, with the same care, and to the same extent and service level as such Services (or substantially similar services) were provided to the SplitCo Business or the Medtronic Business, as applicable, immediately prior to the Effective Date, unless the Services are being provided by a Sub-Contractor who is also providing the same services to the Service Provider or a member of such Service Provider's Group, in which case the Services shall be performed for the Service Recipient in the same manner, scope, time-frame, nature, quality or level, with the same care, and to the same extent and service level as they are being performed for the Service Provider or such member of such Service Provider's Group, as applicable. If the Service Provider has not provided such Services (or substantially similar services) immediately prior to the Effective Date and such Services are not being performed by a Sub-Contractor who is also providing the same services to such Service Provider's Group, then the Services shall be performed in a competent, professional and workmanlike manner consistent

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with industry standards. The Services shall be used solely for the operation of the SplitCo Business or the Medtronic Business, as applicable, for substantially the same purpose as used by the applicable Service Recipient immediately prior to the date of this Agreement. Notwithstanding anything to the contrary set forth herein, in no event (including any internal reorganization or restructuring or expansion of Service Recipient) shall the Service Provider be required to (i) increase or expand the scope, time-frame, nature, or quality of any Service during the term of the Service or (ii) expend additional internal resources to provide such Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;The Parties acknowledge that the Service Provider may make changes from time to time in the manner of performing Services (including in respect of those Services provided by a Sub-Contractor) (i) if the Service Provider is making similar changes in performing the same or substantially similar Services for itself or other members of its Group or (ii) to the extent required for the provision of such Services to be in compliance with applicable Law; <u>provided</u>, <u>however</u>, that if any such changes actually increase the cost of providing such Services, Service Provider may increase the Cost of Services to the extent of such increase in cost (for the avoidance of doubt, such increase may be additive to any additional costs for the provision of services contemplated by the Cost of Services contemplated in <u>Schedule A</u> or <u>Schedule B)</u>; <u>provided</u>, <u>that</u>, that unless expressly contemplated in <u>Schedule A</u> or <u>Schedule B</u>, such changes shall not decrease the manner, scope, time-frame, nature, quality or level of the Services provided to the Service Recipient, except upon prior written approval of the Service Recipient; <u>provided</u>, <u>further</u>, that to the extent such increase in cost exceeds 15% of the Cost of Services contemplated in <u>Schedule A</u> or <u>Schedule B</u>, Service Provider shall provide Service Recipient with at least thirty (30) days' prior written notice of such cost increase and Service Recipient may, within fifteen (15) days following receipt of such notice, elect to terminate the affected Services by providing written notice to Service Provider, which termination shall be effective on the later of (x) thirty (30) days following Service Provider's receipt of such termination notice or (y) the date on which the cost increase would become effective; <u>provided</u>, <u>further</u>, that if the Services that the Service Recipient elects to terminate have Related Services designated on <u>Schedule C</u>, Service Recipient shall (i) comply with the obligations set forth in <u>Section 5.04(a)</u>, including simultaneous termination of all Related Services and payment of the increased Cost of Services through the termination effective date, and (ii) pay the Termination Charges in accordance with <u>Section 5.05(d)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Nothing in this Agreement shall be deemed to require the provision of any Service by any Service Provider (or any Affiliate or Sub-Contractor of a Service Provider) to any Service Recipient if the provision of such Service requires the Consent of any Person (including any Governmental Authority), whether under applicable Law, by the terms of any contract to which such Service Provider or any other member of its Group is a party or otherwise, unless and until, subject to the fourth-to-last sentence of this <u>Section 2.01(i)</u>, such Consent has been obtained. The Service Provider shall use commercially reasonable efforts to obtain as promptly as possible any Consent of any Person that may be necessary for the performance of the Service Provider's obligations pursuant to this Agreement; <u>provided</u>, <u>however</u>, "commercially reasonable efforts" shall not require the Service Provider to amend or extend the term of any contract or agreement with any third party in order to obtain such Consent. Any fees, expenses or extra costs incurred in connection with obtaining any such

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Consents shall be paid by the Service Recipient, and the Service Recipient shall use commercially reasonable efforts to provide assistance as necessary in obtaining such Consents. In the event that the Consent of any Person, if required in order for the Service Provider to provide Services, is not obtained reasonably promptly after the Effective Date, the Service Provider shall notify the Service Recipient and the Parties shall cooperate in good faith in devising an alternative manner for the provision of the Services affected by such failure to obtain such Consent and the Cost of Services associated therewith, such alternative manner and Cost of Services to be reasonably satisfactory to both Parties and agreed to in writing. If the Parties elect such an alternative plan, the Service Provider shall provide the Services in such alternative manner and the Service Recipient shall pay for such Services based on the alternative Cost of Services. The Services shall not include, and no Service Provider (or any Affiliate or Sub-Contractor of a Service Provider) shall be obligated to provide, any service the provision of which to a Service Recipient on or following the Effective Date would constitute a violation of any Law. In addition, notwithstanding anything to the contrary herein, the Service Provider (and the Affiliates and Sub-Contractors of the Service Provider) will not be required to perform or to cause to be performed any of the Services for the benefit of any third party or any other Person other than the applicable Service Recipient. The Parties acknowledge and agree that obtaining any necessary Consent is an express condition to the Service Provider's obligation to provide any Services requiring the use of third-party software, technology or Intellectual Property under this Agreement, and the Service Provider shall not be considered in breach of this Agreement for failure to provide any such Service due to the fact that the Parties were unable to acquire such Consent in accordance with this <u>Section 2.01(i)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;Service Recipient acknowledges that Services may, from time to time, in the reasonable discretion of Service Provider, be suspended in whole or in part for modifications and ordinary maintenance to the assets needed to provide Services and any other matters of a short-term nature (the "<u>Shutdown</u>"). Service Provider shall consider in good faith the impact of any such Shutdown on Service Recipient (and its Affiliates) and shall cooperate with Service Recipient in good faith to minimize any adverse consequences to Service Recipient (and its Affiliates) resulting from such Shutdown. Except in emergency situations, Service Provider shall notify Service Recipient as promptly as practicable before any Shutdown. In the event that a particular Cost of Services is based on the duration of time for which Service Provider provides the applicable suspended Service, Service Provider shall reduce the charges related to such suspended Services on a pro rata basis based on the number of days such Services are suspended; provided that no Cost of Services shall be reduced in such manner if the applicable Shutdown lasts for less than 5 consecutive days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;The Parties acknowledge that there may be unanticipated temporary interruptions in the provision of a Service, in each case for a period of less than forty-eight (48) hours (any such event, an "<u>Interruption</u>"). Service Provider shall use commercially reasonable efforts to provide Service Recipient with notice of such Interruption as soon as possible (including information regarding the nature and the projected length of such Interruption), and thereafter such Service Provider shall use commercially reasonable efforts to cooperate with Service Recipient to minimize any impact on the Services caused by such

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Interruption. The Service Provider shall not be excused from performance if it fails to use commercially reasonable efforts to remedy the situation causing such Interruption.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;In the event the obligations of Service Provider to provide any Service shall be suspended in accordance with <u>Section 2.01(j)</u> or <u>Section 2.01(k)</u>, Service Provider and its Affiliates shall not have any liability whatsoever to Service Recipient arising out of or relating to such suspension of Service Provider's provision of such Service, except to the extent resulting from a breach by Service Provider of any agreement or covenant required to be performed or complied with by Service Provider pursuant to <u>Section 2.01(j)</u> or <u>Section 2.01(k)</u> (but subject to the other limitations on liability set forth in this Agreement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;Neither Party nor any of their respective Affiliates shall have any obligation to purchase, upgrade, enhance or otherwise modify any computer hardware, software or network environment currently used by such Party or such Party's Affiliates, or to provide any support or maintenance services for any computer hardware, software or network environment that has been upgraded, enhanced or otherwise modified from the computer hardware, software or network environments that are currently used by such Party or such Party's Affiliates.

Section 2.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Service Amendments and Additions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Within the first six (6) months following the Effective Date, each of Medtronic and SplitCo may request in writing that the other Party provide services that (i) were provided by the Medtronic Business or the SplitCo Business, as applicable, within the twelve (12) months prior to the Effective Date and (ii) are reasonably necessary for the operation of the Medtronic Business or the SplitCo Business, as applicable, as conducted within the twelve (12) months prior to the Effective Date and that are not otherwise set forth in Schedule A or Schedule B ("<u>Omitted Services</u>") and (iii) are not Excluded Services. Any request for an Omitted Service shall be in writing and shall specify, as applicable, (A) the type and the scope of the requested service, (B) who is requested to perform the requested service, (C) where and to whom the requested service is to be provided and (D) the proposed term for the requested service. The Parties shall discuss in good faith the terms under which such Omitted Services may be provided.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Within the first six (6) months following the Effective Date, each of Medtronic and SplitCo may also request the other Party to provide additional services that are not Services and that are not Omitted Services ("<u>Additional Services</u>"); <u>provided</u>, <u>that</u>, in no event shall any Excluded Services be Additional Services. Any request for an Additional Service shall be in writing and shall specify, as applicable, (A) the type and the scope of the requested service, (B) who is requested to perform the requested service, (C) where and to whom the requested service is to be provided and (D) the proposed term for the requested service. In the event that a Party requests an Additional Service, the other Party may elect in its sole discretion to provide such Additional Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;If a Party agrees to provide an Omitted Service pursuant to <u>Section</u> <u>2.02(a)</u> or an Additional Service pursuant to <u>Section 2.02(b)</u>, then the Parties shall in good faith negotiate an amendment to <u>Schedule A</u> or <u>Schedule B</u>, as applicable, which will describe in detail the service, project scope, term, price and payment terms to be charged for such Omitted

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Service or Additional Service; provided, that the Cost of Services payable for any Omitted Service shall be calculated in a manner consistent with the methodology used to calculate the Cost of Services payable for the Services included on <u>Schedule A or Schedule B</u> hereto, as applicable. Once agreed to in writing, the amendment to <u>Schedule A</u> or <u>Schedule B</u>, as applicable, shall be deemed part of this Agreement as of such date and the Omitted Services or Additional Services, as applicable, shall be deemed "Services" provided hereunder, in each case subject to the terms and conditions of this Agreement; <u>provided</u>, <u>however</u>, that no Service Provider shall be required to provide any Services, at any price, that would prevent, or be reasonably likely to prevent, or be inconsistent with the Intended Tax Treatment.

Section 2.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Migration Projects</u>. Prior to the end of the applicable term, each Service Provider will provide the Service Recipient, upon written request (the "<u>Project Work</u> <u>Request</u>"), with such commercially reasonable support as may be necessary to migrate the Services to the Service Recipient's internal organization or to a third party provider (the "<u>Project</u> <u>Work</u>"), including without limitation exporting and providing (subject to applicable Law and <u>Exhibit A</u>) all relevant data and information of the applicable Service Recipient from the systems of the applicable Service Provider or any party performing the Services on its behalf. After the Service Provider receives the Project Work Request, the Parties shall meet to discuss and agree on the scope, schedule and cost of the Project Work, taking into consideration the Service Provider's then available resources; <u>provided</u> that in no event shall the Service Provider be required to provide the Project Work unless and until the scope, schedule and cost of the Project Work are mutually agreed between the Parties. To the extent that third party vendors are required for such Project Work, Service Recipient may provide Service Provider with reasonable input into the selection of such third party vendors; provided that Service Provider shall have the sole discretion to select any such third party vendors. Where required for migrating the Services, Service Recipient's personnel will be granted reasonable access to the respective facilities of the Service Provider during normal business hours. Project Work may be out-sourced to external service partners (including those involving conversion programs or other programming, or extraordinary management supervision or coordination); <u>provided</u> that the Service Provider shall be responsible for the performance or non-performance of such partners. The Service Recipient shall pay its internal costs incurred in connection with all Project Work performed by its personnel and the internal costs of the Service Provider and the cost of all third-party providers engaged in completing a Project Work all shall be charged by the Service Provider to the Service Recipient on a pass-through basis calculated at an hourly rate *plus* 15%. For the avoidance of doubt, any portion of the cost of Project Work associated with the setup of the Service Recipient's data warehousing infrastructure or hosting environment shall be charged by the Service Provider to the Service Recipient on a pass-through basis calculated at an hourly rate *plus* 15%.

Section 2.04&nbsp;&nbsp;&nbsp;&nbsp;<u>No Management Authority</u>. No Service Provider (or any Affiliate or Sub-Contractor of a Service Provider) shall be authorized by, or shall have any responsibility under, this Agreement to manage the affairs of the business of any Service Recipient, or to hold itself out as an agent or representative of the Service Recipient.

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Section 2.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Acknowledgement and Representation</u>. Each Party understands that the Services provided hereunder are transitional in nature. Each Party understands and agrees that the other Party is not in the business of providing Services to third parties and, except as set forth in <u>Section 5.02</u>, that neither Party has any interest in continuing (i) any Service beyond the Applicable Termination Date or (ii) this Agreement beyond the expiration of all Applicable Termination Dates or the termination of all Services in accordance with <u>Section 5.04</u>. As a result, the Parties have allocated responsibilities and risks of loss and limited liabilities of the Parties as stated in this Agreement based on the recognition that each Party is not in the business of providing Services to third parties. Such allocations and limitations are fundamental elements of the basis of the bargain between the Parties and neither Party would be able or willing to provide the Services without the protections provided by such allocations and limitations. During the term of this Agreement, each Party agrees to work diligently and expeditiously to establish its own logistics, infrastructure and systems, and to obtain all necessary regulatory permits, to enable a transition to its own internal organization or other third-party providers of the Services and agrees to use its reasonable good faith efforts to reduce or eliminate its and its Affiliates' dependency on the other Party's provision of the Services as soon as is reasonably practicable.

Section 2.06&nbsp;&nbsp;&nbsp;&nbsp;<u>SplitCo Operations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;If SplitCo modifies the operation of the SplitCo Business or the facilities of the SplitCo Business or conducts any other operations or activities or constructs any other facilities during the term of this Agreement, and such modified operations, facilities or activities would materially affect or interfere with the Services provided to SplitCo hereunder by Medtronic, then unless the parties otherwise agree, Medtronic shall not be required to provide (or arrange for the provision of), and SplitCo shall not be required to pay for, the relevant Services to the extent affected by such modifications. If the parties agree that Medtronic shall provide the relevant Services to such modified operations of the SplitCo Business, SplitCo shall reimburse Medtronic for any and all agreed upon fees and costs of providing such Services as a result thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained herein, in no event shall Medtronic be required to provide the Services (i) to any Third-Party Acquiror or (ii) to SplitCo, following any SplitCo Change of Control.

Section 2.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Exit Plans; Transactions</u>. SplitCo shall, within one hundred twenty (120) days following the Effective Date, develop and finalize comprehensive exit plans necessary to complete the transition of each Service (such exit plans, the "<u>Exit Plans</u>"). The Exit Plans shall include details of any projects required to complete the transition of each Service, including the parameters, timelines and responsibilities of each party in connection therewith. Medtronic shall cooperate in good faith with SplitCo to develop and finalize the Exit Plans, as needed. SplitCo shall provide Medtronic with reasonable opportunity to review and comment on the Exit Plans prior to finalization, and shall consider any such comments in good faith, <u>provided</u> <u>that</u> any proposed obligations of Medtronic under the Exit Plans are subject to Medtronic's consent, and such Exit Plans will not be deemed finalized until such consent is granted. SplitCo

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shall work diligently and expeditiously to establish and effectuate the Exit Plans and agrees to use its reasonable good faith efforts to complete the transition of each Service as soon as is reasonably practicable. SplitCo shall promptly notify Medtronic in writing of any proposed changes to the Exit Plans, describing such changes in reasonable detail (including, without limitation, any changes to timelines, scope, or Medtronic obligations thereunder) and shall not implement or permit the implementation of any such modification without Medtronic's prior written consent, which may be granted or withheld in Medtronic's sole discretion.

**ARTICLE III**

**Additional Arrangements**

Section 3.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Cooperation and Access</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Service Recipients shall cooperate with the Service Providers to the extent necessary or appropriate to facilitate the performance of the Services in accordance with the terms of this Agreement. Without limiting the generality of the foregoing, (i) each Party shall make available on a timely basis to the other Party all information and materials requested by such Party to the extent reasonably necessary for the performance or receipt of the Services, (ii) each Party shall, and shall cause the members of its Group to, upon reasonable notice, give or cause to be given to the other Party and its Affiliates and Sub-Contractors reasonable access, during regular business hours and at such other times as are reasonably required, to the relevant premises and personnel to the extent reasonably necessary for the performance or receipt of the Services, (iii) each Party shall, and shall cause the members of its Group to, give the other Party and its Affiliates and Sub-Contractors reasonable access to, and all necessary rights to utilize, such Party's, and its Group's, information, facilities, personnel, assets, systems and technologies to the extent reasonably necessary for the performance or receipt of the Services, and (iv) SplitCo may request, and Medtronic may, in its sole discretion, provide or cause the members of its Group to, provide to SplitCo reasonable access to, and all necessary rights to use Medtronic-developed policies, procedures, configurations or similar materials, solely to the extent reasonably necessary for SplitCo's performance or receipt of the Services. The Parties acknowledge that the timely completion of Services by Medtronic, its Affiliates or its Service Providers may depend upon the provision of certain materials and information and/or the taking of certain actions by SplitCo, and Medtronic shall not be responsible for the failure of it, its Affiliates or its Service Providers to provide Services to the extent that such failure results from the failure of SplitCo to provide such materials or information or take such actions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Party shall (and shall cause the members of its Group and its personnel and the personnel of its Affiliates and Sub-Contractors providing or receiving Services to): (i) not attempt to obtain access to or use any information technology systems of the other Party or any member of its Group, or any confidential Information, Personal Data or competitively sensitive information owned, used or Processed by the other Party, except where it has been granted in writing the right to do so or, to the extent reasonably necessary to do so, to provide or receive Services as provided herein; (ii) maintain reasonable security measures to protect the information technology systems of the other Party and the members of its Group to

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which it has access pursuant to this Agreement from access by unauthorized third parties; (iii) follow applicable Laws and all of the other Party's security and confidentiality rules, access agreements, and procedures for restricting access and use, when allowed, to such other Party's information technology systems; (iv) when on the property of the other Party or any of its Affiliates, or when given access to any facilities, infrastructure or personnel of the other Party or any of its Affiliates, follow applicable Laws and all of the other Party's policies and procedures concerning health, safety, conduct and security which are made known to the Party receiving such access from time to time and (v) not disable, damage or erase or disrupt, interfere with or impair the normal operation of the information technology systems of the other Party or any member of its Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Service Provider shall (i) promptly notify Service Recipient of any confirmed misuse, disclosure or loss of, or inability to account for, any Personal Data or any confidential or competitively sensitive Information, and any confirmed unauthorized access to Service Provider's facilities, systems or network, in each case, of which it becomes aware and solely to the extent related to the Service Recipient; and Service Provider will investigate such confirmed security incidents and reasonably cooperate with Service Recipient's incident response team, supplying logs and other necessary information to mitigate and limit the damages resulting from such a security incident; <u>provided</u> that the Service Recipient agrees to reimburse Service Provider for time spent and actual travel expenses incurred in connection with any such investigation; and (ii) subject to applicable Law, use commercially reasonable efforts to comply with any commercially reasonable requests to assist Service Recipient with its electronic discovery obligations related to Services provided to the Service Recipient; <u>provided</u> that the Service Recipient agrees to reimburse Service Provider for actual expenses incurred for such response.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;In the event of a security breach that relates to the Services, the Parties shall, subject to any applicable Law, reasonably cooperate with each other regarding the timing and manner of (a) notification to their respective customers, potential customers, employees or agents concerning a breach or potential breach of security and (b) disclosures to appropriate Governmental Authorities.

Section 3.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Data Privacy</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this <u>Section 3.02</u> shall apply only to the extent that the provision of the Services requires the Processing of Personal Data by the Service Provider or any applicable Sub-Contractor on behalf of the Service Recipient and one or more of the applicable Data Protection Laws apply to such processing. Where Service Provider or the applicable Sub-Contractor carries out the Processing of Personal Data which is subject to Data Protection Laws in connection with the Services, the Parties shall comply with the terms of <u>Exhibit A</u>, which are incorporated into and made a part of this Agreement by this reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Parties agree to comply with Data Protection Laws in connection with the processing of Personal Data in the course of receipt and provision of the applicable Services.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Parties shall take all further actions and execute all further documents as are reasonably necessary to comply with applicable Laws (including applicable Data Protection Laws) in connection with the provision and receipt of Services under this Agreement.

Section 3.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Intellectual Property</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>License for Services</u>. Each Party, on behalf of itself and its Affiliates, hereby grants to the other Party and to its Affiliates and Sub-Contractors providing Services under this Agreement a nonexclusive, nontransferable, world-wide, royalty-free, non-sublicensable (only to those Persons providing goods or services to such Party, but not for the independent use by such Persons or for any other purpose) license, for the term of this Agreement, to use each Party's Intellectual Property included in the Background Assets (excluding Trademarks) owned by such Party and the members of its Group that is required for the provision or receipt of the Services, solely to the extent necessary for the other Party and the members of its Group to perform their obligations hereunder or receive the Services provided hereunder, as applicable. The Parties agree that their rights under each other's Trademarks, if any, are governed by the Transitional Trademark Cross-License Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Ownership.</u> Each Service Provider acknowledges and agrees that all records, data, reports, materials and other deliverables created for or on behalf of the Service Recipient in the performance of the Services ("<u>Deliverables</u>") shall be owned by Service Recipient to be used in the business of the Service Recipient (SplitCo Business or Medtronic Business, as applicable). Deliverables do not include (i) any Intellectual Property conceived by or (in the case of copyrightable works) authored by Service Provider, its employees and agents in the performance of Services ("<u>Intangible Developments</u>") or (ii) Background Assets. Ownership of Intangible Developments shall vest exclusively in the Service Provider, whether conceived solely by Service Provider or jointly with Service Recipient. In the event that any Service Recipient or its Affiliates obtains ownership of any Intangible Developments in contravention of the foregoing, Service Recipient and its Affiliates hereby irrevocably assigns all right, title, and interest in such Intangible Development to Service Provider and shall execute any documentation to perfect such assignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Licenses for Deliverables</u>. The Parties agree that the IPA governs any license to Background Assets, as applicable, for Deliverables. Service Provider hereby grants to Service Recipient an irrevocable, perpetual, royalty-free, fully paid-up, non-exclusive, sublicensable (only to those Persons providing goods or services to Service Recipient, but not for the independent use by such Persons or for any other purpose), worldwide license under its Intangible Developments to make, have made, have, use, offer to sell and sell, import or otherwise transfer products and services embodying or practicing the Intangible Developments to the extent those Intangible Developments are embedded in or included in the Deliverables.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Third Party Software</u>. The Parties acknowledge that it may be necessary for each Party to make proprietary or third-party software available to the other in the course and for the purpose of performing Services, subject to <u>Section 2.01(i)</u> in the case of third-party software. Each Party (i) shall comply with all known license terms and conditions

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applicable to any and all proprietary or third-party software made available to such Party by the other Party in the course of the provision of Services hereunder and (ii) agrees that it shall use commercially reasonable efforts to identify and provide to the other Party a copy of the applicable license terms (or, solely with respect to open source software or other software with publicly available license terms, information sufficient to direct such other Party to a copy thereof) for any and all proprietary or third-party software first made available to such other Party as of or after the Effective Date, solely to the extent such provision would not violate the providing Party's duty of confidentiality owed to any third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Exclusions</u>. Except as expressly specified in this <u>Section 3.03</u>, nothing in this Agreement will be deemed to grant one Party, by implication, estoppel or otherwise, any license rights, ownership rights or other rights in Background Assets of the other Party.

Section 3.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Misdirected Funds</u>. In the event that, on or after the date of this Agreement, either Party shall receive any payments or other funds due to the other pursuant to the terms hereof or otherwise, then the Party receiving such payments or funds shall promptly forward such payments or funds to the proper Party. The Parties acknowledge that there is no right of offset regarding such payments and a Party may not withhold funds received from third parties for the account of the other Party in the event there is a dispute regarding any other issue under this Agreement.

**ARTICLE IV**

**Compensation**

Section 4.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Compensation for Services</u>. In each case except as expressly provided in <u>Schedule A</u> or <u>Schedule B</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;As compensation for each Service rendered pursuant to this Agreement, the Service Recipient shall be required to pay to the Service Provider a fee for the Service equal to the Cost of Services specified for such Service in <u>Schedule A</u> or <u>Schedule B</u>, as applicable; <u>provided</u> <u>that</u> the Cost of Service for each Service shall increase by 3% on each anniversary of the date hereof that such Service continues to be provided. The Service Recipient shall also bear all reasonable and documented one-time costs and expenses, if any, incurred following the Effective Date by Service Provider or its Affiliates in order to enable the provision of each Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;During the term of this Agreement, the amount of a Cost of Service for a Service may increase during a Service Extension, in accordance with <u>Section 5.02</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Service Recipient shall be responsible for (i) any excise, sales, use, transfer, stamp, documentary, filing, recordation and other similar Taxes, (ii) any value added, goods and services or similar recoverable indirect Taxes ("<u>VAT</u>") and (iii) any interest and penalties related to those Taxes described in clause (i) or (ii) that are required to be assessed

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under applicable Law in connection with the Services provided hereunder, whether or not shown on any invoice (collectively, "<u>Transfer Taxes</u>"). Notwithstanding the foregoing, unless stated otherwise in this Agreement, all sums payable by the Service Recipient under this Agreement are exclusive of any applicable VAT. The amount of Transfer Taxes that is required to be remitted by the Service Provider will be promptly paid to the Service Provider by the Service Recipient in accordance with <u>Section 4.02</u>. Such payment shall be in addition to the Cost of Services set forth in <u>Schedule A</u> or <u>Schedule B</u>, as applicable (unless such Transfer Tax is expressly already accounted for in the applicable Cost of Services). Notwithstanding the foregoing, in the case of VAT, the Service Recipient shall not be obligated to pay such Transfer Taxes, unless the Service Provider has issued to the Service Recipient a valid VAT invoice in respect thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Except as provided in this Agreement or as required by Law, each Party shall pay all sums due under this Agreement free and clear of any deduction or withholding. If any deduction or withholding is required by Law from any payment by the Service Recipient, the Service Recipient shall pay such additional amount as shall, after the deduction or withholding has been made, leave the relevant Service Provider with the full amount that it would have received if no deduction or withholding had been required; <u>provided</u>, <u>however</u>, that each Party shall notify the other Party in writing of any anticipated deduction or withholding at least fifteen (15) business days prior to making any such deduction or withholding and will cooperate with the other Party in obtaining any available exemption from or reduction of such deduction or withholding. The Party making such deduction or withholding shall promptly provide to the other Party tax receipts or other documents evidencing the payment of any such deducted or withheld amount to the applicable Taxing Authority. The Parties shall use commercially reasonable efforts to cooperate in good faith to eliminate or reduce any deduction or withholding applicable to sums due under this Agreement (including through the request and provision of any statements, forms or other documents to eliminate or reduce any such deduction or withholding).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;If the Service Provider (i) receives any refund (whether by payment, offset, credit or otherwise) or (ii) utilizes any overpayment of Transfer Taxes that are borne by Service Recipient pursuant to this Agreement, then the Service Provider shall promptly pay, or cause to be paid, to the Service Recipient an amount equal to the deficiency or excess, as the case may be, with respect to the amount that the Service Recipient has borne if the amount of such refund or overpayment (including, for the avoidance of doubt, any interest or other amounts received with respect to such refund or overpayment) had been included originally in the determination of the amounts to be borne by Service Recipient pursuant to this Agreement, net of any additional Transfer Taxes the Service Provider incurs or will incur as a result of the receipt of such refund or such overpayment.

Section 4.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment Terms.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <u>Section 4.02(a)(ii)</u>, the Service Provider shall bill the Service Recipient monthly within thirty (30) business days after the end of each month, or at such other interval specified with respect to a particular Service in <u>Schedule A</u> or <u>Schedule B</u>, as

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applicable, an amount equal to the aggregate Cost of Services due for all Services provided in such month or other specified interval, as applicable, plus any Transfer Taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary set forth in <u>Section 4.02(a)(i)</u>, in the event that SplitCo is the Service Provider, the Parties agree that the invoices shall be issued under a self-billing arrangement. Pursuant to such arrangement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp;Medtronic agrees:

1)&nbsp;&nbsp;&nbsp;&nbsp;To issue self-billed invoices for all Services made to them by SplitCo until the Applicable End Date;

2)&nbsp;&nbsp;&nbsp;&nbsp;To complete self-billed invoices showing SplitCo's name, address and VAT registration number, together with all the other details which constitute a full VAT invoice;

3)&nbsp;&nbsp;&nbsp;&nbsp;To make a new self-billing agreement in the event that its VAT registration number changes; and

4)&nbsp;&nbsp;&nbsp;&nbsp;To inform SplitCo if the issue of self-billed invoices will be outsourced to a third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo agrees:

1)&nbsp;&nbsp;&nbsp;&nbsp;To accept invoices raised by Medtronic on its behalf until the Applicable End Date; and

2)&nbsp;&nbsp;&nbsp;&nbsp;Not to raise sales invoices for the transactions contemplated by this Agreement; and

3)&nbsp;&nbsp;&nbsp;&nbsp;To notify Medtronic immediately if SplitCo (i) change its VAT registration number; (ii) ceases to be VAT registered, or (iii) sells its business or part of its business.

If SplitCo fails to notify Medtronic of any objections or discrepancies to a self-billed invoice within five (5) business days of receipt, the invoice shall be deemed accepted by SplitCo.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Invoices (other than self-billed invoices as described under <u>Section</u> <u>4.02(a)(ii)</u>) shall set forth a description of the Services provided and reasonable documentation to support the charges thereon, which invoice and documentation shall be in the same level of detail and in accordance with the procedures for invoicing as provided to the Service Provider's other businesses. Invoices shall be directed to the Service Coordinator appointed by Medtronic or SplitCo, as applicable, or to such other Person designated in writing from time to time by such Service Coordinator. The Service Recipient shall pay such amount in full by wire transfer of

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immediately available funds to the account designated by the Service Provider for this purpose within thirty (30) days after (i) the date the invoice is deemed accepted, if Medtronic is the Service Recipient, or (ii) receipt of the invoice, if SplitCo is the Service Recipient. If the thirtieth (30th) day falls on a weekend or a holiday, the Service Recipient shall pay such amount on or before the following business day. Each invoice shall set forth in reasonable detail the calculation of the charges and amounts and applicable Transfer Taxes for each Service during the month or other specified interval to which such invoice relates. In addition to any other remedies for non-payment, if any payment is not received by the Service Provider on or before the date such amount is due, then a late payment interest charge, calculated at the annual rate equal to the "Prime Rate" as reported on the thirtieth (30th) day after the date of the invoice in *The Wall Street Journal* (or, if such day is not a business day, the first business day immediately after such day), calculated on the basis of a year of 360 days and the actual number of days elapsed between the end of the thirty (30)-day payment period and the actual payment date, shall immediately begin to accrue and any such late payment interest charges shall become immediately due and payable in addition to the amount otherwise owed under this Agreement. The Parties shall cooperate in good faith with respect to all tax matters relating to the invoicing and payment terms in this <u>Section 4.02</u>, including to achieve an invoicing structure that minimizes Transfer Taxes for both Parties to the extent legally permissible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Service Recipient shall notify the Service Provider promptly, and in no event later than thirty (30) days following receipt of the Service Provider's invoice, of any disputed amounts. If the Service Recipient does not notify the Service Provider of any disputed amounts within such thirty (30)-day period, then Service Recipient will be deemed to have accepted the Service Provider's invoice. Any objection to the amount of any invoice shall be deemed to be a Dispute hereunder subject to the provisions applicable to Disputes set forth in <u>Article VIII</u>. The Service Recipient shall pay any undisputed amount, and all Transfer Taxes (whether or not disputed), in accordance with this <u>Section 4.02</u>. The Service Provider shall, upon the written request of a Service Recipient, furnish such reasonable documentation to substantiate the amounts billed, including listings of the dates, times and amounts of the Services in question where applicable and practicable. The Service Recipient may withhold any payments subject to a Dispute other than Transfer Taxes; <u>provided</u> that any disputed payments, to the extent ultimately determined to be payable to the Service Provider, shall bear interest as set forth in <u>Section</u> <u>4.02(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Service Provider shall have the right to designate one or more of its Affiliates, upon not less than ten (10) days' prior notice to the Service Recipient, to receive certain of the Cost of Services and other amounts that become payable to the Service Provider hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <u>Section 4.02(c)</u>, no Service Recipient shall withhold any payments to a Service Provider under this Agreement in order to offset payments due to such Service Recipient pursuant to this Agreement, the Separation Agreement, any Ancillary Agreement or otherwise, unless such withholding is mutually agreed by the Parties or is provided for in the final ruling of a court having jurisdiction pursuant to <u>Section 9.07</u>. Any required adjustment to payments due hereunder will be made as a subsequent invoice.

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Section 4.03&nbsp;&nbsp;&nbsp;&nbsp;<u>DISCLAIMER OF WARRANTIES</u>. WITHOUT LIMITATION TO THE COVENANTS RELATING TO THE PROVISION OF SERVICES SET FORTH IN <u>SECTION 2.01(g)</u>, THE SERVICES TO BE PROVIDED UNDER THIS AGREEMENT ARE FURNISHED WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY, NON-INFRINGEMENT OR FITNESS FOR ANY PARTICULAR PURPOSE. NO MEMBER OF THE MEDTRONIC GROUP OR OF THE SPLITCO GROUP, AS SERVICE PROVIDER, MAKES ANY REPRESENTATION OR WARRANTY THAT ANY SERVICE COMPLIES WITH ANY LAW, DOMESTIC OR FOREIGN.

Section 4.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Books and Records</u>. Medtronic and SplitCo shall each, and shall each cause the members of their Group to, maintain complete and accurate books of account as necessary to support calculations of the Cost of Services for Services rendered by it or the other members of its Group as Service Providers and shall make such books available to the other, upon reasonable notice, during normal business hours; <u>provided</u>, <u>however</u>, that to the extent Medtronic's or SplitCo's books, or the books of the members of their Group, contain Information relating to any other aspect of the Medtronic Business or the SplitCo Business, as applicable, Medtronic and SplitCo shall negotiate a procedure to provide the other Party with necessary access while preserving the confidentiality of such other records.

**ARTICLE V**

**Term**

Section 5.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Commencement</u>. This Agreement is effective as of the date hereof and shall remain in effect with respect to a particular Service until the occurrence of the Applicable Termination Date applicable to such Service (or, subject to the terms of <u>Section 5.02</u>, the expiration of any Service Extension applicable to such Service), unless earlier terminated (i) in its entirety or with respect to a particular Service, in each case in accordance with <u>Section 5.03</u> or <u>Section 5.04</u>, or (ii) by mutual consent of the Parties. Notwithstanding anything to the contrary contained herein, if the Separation Agreement shall be terminated in accordance with its terms, this Agreement shall be automatically terminated and void *ab initio* with no further action by the Parties and shall be of no force and effect.

Section 5.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Service Extension</u>. Except as expressly provided in <u>Schedule A</u> or <u>Schedule B</u>, and subject to <u>Section 5.03(b)</u>, if the Service Recipient reasonably determines that it will require a Service to continue beyond the Applicable Termination Date or the end of a subsequent extension period, the Service Recipient may request the Service Provider to extend the term of such Service for the desired renewal period(s) (each, a "<u>Service Extension</u>") by written notice to the Service Provider no less than ninety (90) days prior to end of the then-current Service term; <u>provided</u> that a Service Recipient may only request to extend a Service that is included on <u>Schedule C</u> if it requests to extend all other Services that are designated on <u>Schedule C</u> as a "<u>Related Service</u>" with respect to such Service. The Service Provider shall respond in its sole discretion to any such request for a Service Extension within fifteen (15) days of receipt; <u>provided</u> <u>that</u> in no event shall the Service Provider be required to provide a Service

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Extension; <u>provided</u>, <u>further</u>, that (i) the Service Extensions with respect to each Service shall not extend the term of such Service to a date beyond the Applicable End Date, (ii) the Service Provider will not be in breach of its obligations under this <u>Section 5.02</u> if it is unable to comply with a Service Extension request through the use of commercially reasonable efforts, including where a Consent that is required in order for the Service Provider to continue to provide the applicable Service during the requested Service Extension cannot be obtained by the Service Provider through the use of commercially reasonable efforts, (iii) the Service Provider shall not be required to contribute capital, pay or grant any consideration or concession in any form (including by providing any letter of credit, guaranty or other financial accommodation) to any Person in order to obtain or make any Consent that is required in order for the Service Provider to continue to provide the applicable Service during the requested Service Extension (other than reasonable out-of-pocket expenses, attorneys' fees and recording or similar fees, all of which shall be reimbursed by the Service Recipient, as promptly as reasonably practicable) and (iv) each Service Extension is permissible under applicable Law. With respect to <u>Schedule A</u> or <u>Schedule B</u>, as applicable, the Cost of Services specified for such Service in <u>Schedule A</u> or <u>Schedule B</u>, as applicable, shall be amended to include (i) for the period from the Applicable Termination Date until the date that is three (3) months following the Applicable Termination Date, an incremental surcharge of 25% and (ii) for the period from the date that is three (3) months from the Applicable Termination Date to the date that is six (6) months from the Applicable Termination Date, an incremental surcharge of an additional 25% above such prior incremental surcharge; <u>provided</u>, <u>that</u>, in no event shall a Service Extension exceed the date that is six (6) months from the Applicable Termination Date; provided, further, that notwithstanding anything to the contrary contained herein, in no event shall the term of any such Service exceed the Applicable End Date. The Parties shall amend the terms of <u>Schedule A</u> or <u>Schedule B</u>, as applicable, to reflect the new Service term and Cost of Services within five (5) business days following the Service Provider's agreement to a Service Extension, subject to the conditions set forth in this <u>Section 5.02</u>. Each such amended <u>Schedule A</u> or <u>Schedule B</u>, as applicable, as agreed to in writing by the Parties, shall be deemed part of this Agreement as of the date of such agreement.

Section 5.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may be terminated:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;by either Medtronic or SplitCo at any time upon written notice to the other Party (which notice shall specify the basis for such claim for breach of this Agreement), if the other Party materially breaches this Agreement (and the period for resolution of the Dispute relating to such breach set forth in <u>Section 8.01</u> has expired), effective upon not less than thirty (30)-days' written notice of termination to the breaching Party, if the breaching Party does not cure such default within thirty (30) days after receiving written notice thereof from the non-breaching Party; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;except as otherwise provided by Law, by either Medtronic or SplitCo at any time upon written notice to the other Party, if (i) the other Party is adjudicated as bankrupt, (ii) any insolvency, bankruptcy or reorganization proceeding is commenced by the

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other Party under any insolvency, bankruptcy or reorganization act, (iii) any action is taken by others against the other Party under any insolvency, bankruptcy or reorganization act and such Party fails to have such proceeding stayed or vacated within ninety (90) days or (iv) if the other Party makes an assignment for the benefit of creditors, or a receiver is appointed for the other Party which is not discharged within thirty (30) days after the appointment of the receiver.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary herein, this Agreement shall terminate on the date that is twenty-four (24) months following the Separation Date.

Section 5.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Partial Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in this Agreement or <u>Schedule A</u> or <u>Schedule B</u>, a Service Recipient shall be entitled to terminate one (1) or more Services in their entirety being provided by any Service Provider for any reason or no reason at all, by providing at least (i) ninety (90) days' prior written notice of its intent to terminate, if such notice does not include a request for the Service Provider's good faith estimate of the Termination Charges, or (ii) one hundred and twenty (120) days' prior written notice of its intent to terminate, if such notice includes a request for the Service Provider's good faith estimate of the Termination Charges (as defined in <u>Section 5.05(d)</u>) that would be incurred in connection with such termination (the "<u>Termination Estimate Request Notice</u>"). If applicable, the Service Provider shall respond with a good faith estimate of the Termination Charges (the "<u>Partial Termination</u> <u>Estimate</u>") within fifteen (15) days of receipt of the Termination Estimate Request Notice. If a Termination Estimate Request Notice is delivered, following receipt of the Service Provider's estimate, a Service Recipient may elect to proceed with its decision to terminate by providing no less than ninety (90) days' prior written notice to the Service Provider. In connection with any termination pursuant to this <u>Section 5.04(a)</u>, the Service Recipient shall be responsible for all Termination Charges actually incurred by the Service Provider as a result of such early termination; provided, that, with respect to any termination pursuant to clause (ii) above, the Service Provider's Partial Termination Estimate was provided in good faith. For the avoidance of doubt, a Service Recipient may only terminate a Service pursuant to this <u>Section 5.04(a)</u> if it simultaneously terminates all Related Services; <u>provided</u> <u>further</u> that no Service may be terminated in part.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In the event that a Service Provider reduces or suspends the provision of any Service due to a Force Majeure Event and such reduction or suspension continues for fifteen (15) days, the Service Recipient may immediately terminate such Service, upon written notice and without any obligations therefor, including any Cost of Services in respect thereof; <u>provided</u>, <u>however</u>, that Service Recipient shall remain obligated to Service Provider for any Cost of Services actually incurred by Service Provider prior to such termination.

Section 5.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Party agrees and acknowledges that the obligations of each Party to provide the Services, or to cause the Services to be provided, hereunder shall immediately cease upon (i) the termination of any (or all) such Service(s) at the Applicable Termination Date applicable to each such Service (or, subject to the terms of <u>Section 5.02</u>, the

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expiration of any Service Extension applicable to such Service), (ii) termination of (A) this Agreement or (B) any particular Service, in each case in accordance with <u>Section 5.04</u>, or (iii) upon termination of the Agreement or any Service by mutual consent of the Parties. Upon cessation of the Service Provider's obligation to provide any Service, the Service Recipient shall stop using, directly or indirectly, such Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;In the event that any Service is terminated other than at the end of a month, and the Cost of Service associated with such Service is determined on a monthly basis, the Service Provider shall bill the Service Recipient for the entire month in which such Service is terminated. The Parties acknowledge that there may be interdependencies among the Services being provided under this Agreement that may not be identified on <u>Schedule A</u>, <u>Schedule B</u> or <u>Schedule C</u>, as applicable, and agree that, if the Service Provider's ability to provide a particular Service in accordance with this Agreement is materially and adversely affected by the termination of another Service in accordance with <u>Section 5.04</u>, then the Parties shall negotiate in good faith to amend the <u>Schedule A</u> or <u>Schedule B</u>, as applicable, relating to such affected continuing Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;In the event of a termination under <u>Section 5.04</u>, the Service Recipient shall pay to the Service Provider any out-of-pocket breakage or termination fees, and other termination costs actually paid or payable by the Service Provider to third parties, solely as a result of the early termination of such Service, with respect to any resources or pursuant to any other third-party agreements that were used by the Service Provider to provide such Service (or an equitably allocated portion thereof, in the case of any such equipment, resources or agreements that also were used for purposes other than providing Services) ("<u>Termination</u> <u>Charges</u>"). For the avoidance of doubt, the Service Recipient's obligation to pay Termination Charges shall apply to the actual costs incurred or payable by the Service Provider and shall not be based upon any estimate provided by the Service Provider pursuant to <u>Section 5.04</u>. The

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Service Provider will provide to the Service Recipient an invoice for the Termination Charges, within thirty (30) days following the date of any termination of a Service under <u>Section 5.04</u> and will provide reasonable documentary evidence to substantiate such Termination Charges.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;In the event of any termination of this Agreement in its entirety or with respect to any Service, each Party, Service Provider and Service Recipient shall remain liable for all of their respective obligations that accrued hereunder prior to the date of such termination, including all obligations of each Service Recipient to pay any Cost of Service due to any Service Provider hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The following matters shall survive the termination of this Agreement, including the rights and obligations of each Party thereunder, in addition to any claim for breach arising prior to termination: <u>Article I</u>, <u>Section 3.02(b)</u>, <u>Article IV</u>, <u>Article VI</u> (including liability in respect of any indemnifiable Liabilities under this Agreement arising or occurring on or prior to the date of termination), this <u>Section 5.05</u>, <u>Article VIII</u>, <u>Article IX</u> and all confidentiality obligations under this Agreement.

**ARTICLE VI**

**Indemnification; Limitation of Liability**

Section 6.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification by SplitCo</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo, on behalf of each member of its Group in its capacity as a Service Recipient, shall indemnify, defend and hold harmless Medtronic and the other Medtronic Indemnitees from and against any and all third party Liabilities incurred by such Medtronic Indemnitee and arising out of, in connection with or by reason of any Services provided by any member of the Medtronic Group hereunder, except to the extent such Liabilities arise out of a Medtronic Group member's (i) breach of this Agreement, (ii) violation of Laws in providing the Services or (iii) gross negligence or willful misconduct in providing the Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;SplitCo, on behalf of each member of its Group in its capacity as a Service Provider, shall indemnify, defend and hold harmless Medtronic and the other Medtronic Indemnitees from and against any and all third party Liabilities incurred by such Medtronic Indemnitee and arising out of, in connection with or by reason of any Services provided by any member of the SplitCo Group hereunder, which Liabilities result from a SplitCo Group member's (i) breach of this Agreement, (ii) violation of Laws in providing the Services or (iii) gross negligence or willful misconduct in providing the Services.

Section 6.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification by Medtronic</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Medtronic, in its capacity as a Service Recipient and on behalf of each member of its Group in its capacity as a Service Recipient, shall indemnify, defend and hold harmless SplitCo and the other SplitCo Indemnitees from and against any and all third party Liabilities incurred by such SplitCo Indemnitee and arising out of, in connection with or by

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reason of any Services provided by any member of the SplitCo Group hereunder, except to the extent such Liabilities arise out of a SplitCo Group member's (i) breach of this Agreement, (ii) violation of Laws in providing the Services or (iii) gross negligence or willful misconduct in providing the Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Medtronic, in its capacity as a Service Provider and on behalf of each member of its Group in its capacity as a Service Provider, shall indemnify, defend and hold harmless SplitCo and the other SplitCo Indemnitees from and against any and all third party Liabilities incurred by such SplitCo Indemnitee and arising out of, in connection with or by reason any Services provided by any member of the Medtronic Group hereunder, which Liabilities result from a Medtronic Group member's (i) breach of this Agreement, (ii) violation of Laws in providing the Services or (iii) gross negligence or willful misconduct in providing the Services.

Section 6.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification Procedures</u>. The provisions of Section 6.05 of the Separation Agreement shall govern claims for indemnification under this Agreement, <u>provided</u> that, for purposes of this <u>Section 6.03</u>, in the event of any conflict between the provisions of Section 6.05 of the Separation Agreement and this <u>Article VI</u>, the provisions of this Agreement shall control.

Section 6.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Exclusion of Other Remedies</u>. Without limiting the rights under <u>Section 9.09</u>, the provisions of <u>Sections 6.01</u> and <u>6.02</u> shall, to the maximum extent permitted by applicable Law, be the sole and exclusive remedies of the Medtronic Group and the SplitCo Group, as applicable, for any Liability, whether arising from statute, principle of common or civil law, principles of strict liability, tort, contract or otherwise under this Agreement.

Section 6.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Indemnification Obligations Unaffected</u>. For avoidance of doubt, this <u>Article VI</u> applies solely to the specific matters and activities covered by this Agreement (and not to matters specifically covered by the Separation Agreement or the other Ancillary Agreements).

Section 6.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation on Liability</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;No Service Provider, in its capacity as such, nor any member of its Group acting in the capacity of a Service Provider, nor any Indemnitee thereof, shall be liable (whether such liability is direct or indirect, in contract or tort or otherwise) to the other Party (or any of such other Party's Indemnitees) for any Liabilities arising out of, related to or in connection with the Services or this Agreement, except to the extent that such Liabilities arise out of such Service Provider's (or a member of its Group's) (i) breach of this Agreement, (ii) violation of Laws in providing the Services or (iii) gross negligence or willful misconduct in providing the Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;IN NO EVENT SHALL ANY SERVICE PROVIDER, IN ITS CAPACITY AS SUCH, NOR ANY MEMBER OF ITS GROUP ACTING IN THE CAPACITY OF A SERVICE PROVIDER, NOR ANY INDEMNITEE THEREOF, BE LIABLE, WHETHER IN CONTRACT, IN TORT (INCLUDING NEGLIGENCE AND STRICT

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LIABILITY) OR OTHERWISE TO THE SERVICE RECIPIENT (OR ANY OF ITS INDEMNITEES) FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES (INCLUDING LOSS OF PROFITS) AS A RESULT OF ANY BREACH, PERFORMANCE OR NON-PERFORMANCE BY SUCH SERVICE PROVIDER UNDER THIS AGREEMENT, EXCEPT AS MAY BE PAYABLE TO A CLAIMANT IN A THIRD-PARTY CLAIM.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;EACH GROUP'S TOTAL LIABILITY, IN ITS CAPACITY AS A SERVICE PROVIDER, TO THE OTHER GROUP ARISING OUT OF, RELATED TO OR IN CONNECTION WITH THE SERVICES OR THIS AGREEMENT FOR ALL CLAIMS SHALL NOT EXCEED IN THE AGGREGATE AN AMOUNT EQUAL TO THE TOTAL AMOUNT PAID TO SUCH SERVICE PROVIDER FOR ALL SERVICES PROVIDED BY IT UNDER THIS AGREEMENT IN THE TWELVE MONTHS PRECEDING SUCH CLAIM (THE "<u>CAP</u>"); PROVIDED, THAT (I) IF A CLAIM IS MADE PRIOR TO THE TWELVE (12) MONTH ANNIVERSARY OF THE EFFECTIVE DATE, THE CAP SHALL BE THE TOTAL AMOUNT PAID FOR ALL SERVICES FROM THE EFFECTIVE DATE THROUGH THE DATE SUCH CLAIM IS MADE, AND (II) SUCH SERVICE PROVIDER'S LIABILITY UNDER THE CAP SHALL BE REDUCED BY THE AGGREGATE AMOUNT OF ANY DAMAGES PREVIOUSLY PAID BY SUCH SERVICE PROVIDER IN RESPECT OF ANY PRIOR CLAIMS MADE DURING THE APPLICABLE TWELVE (12) MONTH PERIOD (OR, IF APPLICABLE, THE PERIOD FROM THE EFFECTIVE DATE THROUGH THE DATE OF THE SUBSEQUENT CLAIM).

**ARTICLE VII**

**Other Covenants**

Section 7.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Further Assurances</u>. Each Party hereto shall take, or cause to be taken, any and all reasonable actions, including the execution, acknowledgment, filing and delivery of any and all documents and instruments that any other Party hereto may reasonably request in order to effect the intent and purpose of this Agreement and the transactions contemplated hereby.

**ARTICLE VIII**

**Dispute Resolution**

Section 8.01&nbsp;&nbsp;&nbsp;&nbsp;<u>General</u>. Except as expressly provided in this <u>Article VIII</u>, the Parties shall resolve all disputes arising out of, related to or in connection with this Agreement (each, a "<u>Dispute</u>") in accordance with the following procedures set forth in this <u>Article VIII</u> (including, for the avoidance of doubt, any Dispute relating to payments with respect to the Services).

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Section 8.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Functional Leads; Transition Committee</u>. All Disputes will be first considered in person, by teleconference or by video conference by the Service Coordinators within five (5) business days after receipt of notice from either Party specifying the nature of the Dispute (a "<u>Dispute Notice</u>"). The Service Coordinators shall coordinate in good faith to resolve any such Dispute. If the Service Coordinators are unable to resolve any such dispute within twenty (20) business days, then such Disputes will be considered in person, by teleconference or by video conference by the Functional Leads within five (5) business days after the escalation thereof. The Functional Leads shall enter into negotiations aimed at resolving any such Dispute (the "<u>Functional Lead Negotiations</u>"). If the Functional Leads are unable to reach a resolution with respect to the Dispute within ten (10) business days after receipt by the Functional Leads of a Dispute Notice, the Dispute shall be referred to the Transition Committee comprised of specified transition leaders from Medtronic and SplitCo. On or as promptly as practicable following the Effective Date, each Party shall provide the other Party with the name and relevant contact information for its respective initial Transition Committee members, and either Party may replace its Transition Committee members at any time with other persons of similar seniority by providing written notice in accordance with <u>Section 9.12</u>. The Transition Committee will meet (by telephone or in person) during the next ten (10) business days following the referral to the Transition Committee and attempt to resolve the Dispute (the "<u>Transition</u> <u>Committee Negotiations</u>"). In the event that the Transition Committee is unable to reach a resolution with respect to the Dispute within ten (10) business days following the referral of the Dispute to the Transition Committee, then the Dispute shall be referred to a senior executive of each Party in accordance with <u>Section 8.03</u> and the Parties shall retain all rights with respect to remedies hereunder. For the avoidance of doubt, the negotiations and any resolutions related to Disputes under this <u>Section 8.02</u> shall not modify the terms of this Agreement or otherwise modify or waive any of the Parties' rights or obligations hereunder or with respect to any future Disputes. Notwithstanding the foregoing, the Parties may mutually agree in writing to waive the Functional Lead Negotiations and proceed directly to the Transition Committee Negotiations pursuant to this <u>Section 8.02</u>.

Section 8.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Vice President Referral</u>. If, with respect to any Dispute, no resolution is reached in accordance with <u>Section 8.02</u>, then a senior employee who holds, at a minimum, the title of Vice President, and has authority to settle such a Dispute on behalf of each Party shall, in good faith, attempt to resolve any such Dispute within the thirty (30) days following the referral of the Dispute to such persons (the "<u>Vice President Resolutions</u>"). If, with respect to any Dispute, no resolution is reached in accordance with the procedures contained in <u>Section 8.02</u> and this <u>Section 8.03</u>, then the Parties may seek to resolve such Dispute in accordance with <u>Section 9.07</u>, <u>Section 9.08</u> and <u>Section 9.09</u>. Notwithstanding the foregoing, the Parties may mutually agree in writing (x) to waive any or all of the Functional Lead Negotiations, the Transition Committee Negotiations or the Vice President Resolutions or (y) to proceed directly to resolve such Dispute in accordance with <u>Section 9.07</u>, <u>Section 9.08</u> and <u>Section 9.09</u>.

Section 8.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Court-Ordered Interim Relief</u>. In accordance with this <u>Section 8.04</u> and <u>Section 9.08</u>, at any time after giving a Dispute Notice, each Party shall be entitled to interim measures of protection if duly granted by a court of competent jurisdiction: (a) to preserve the

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status quo pending resolution of the Dispute; (b) to prevent the destruction or loss of documents and other information or things relating to the Dispute; or (c) to prevent the transfer, disposition or hiding of assets. Any such interim measure (or a request therefor to a court of competent jurisdiction) shall not be deemed incompatible with the provisions of <u>Section 9.07</u> and <u>Section</u> <u>9.08</u>. Until such Dispute is resolved in accordance with this <u>Article VIII</u> or final judgment is rendered in accordance with <u>Section 9.07</u> and <u>Section 9.08</u>, each Party agrees that such Party shall continue to perform its obligations under this Agreement and that such obligations shall not be subject to any defense or set-off, counterclaim, recoupment or termination.

**ARTICLE IX**

**Miscellaneous**

Section 9.01&nbsp;&nbsp;&nbsp;&nbsp;<u>Title to Equipment; Title to Data</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise expressly provided herein, each of SplitCo and Medtronic acknowledges that all procedures, methods, systems, strategies, tools, equipment, facilities and other resources used by any Service Provider in connection with the provision of Services shall remain the property of such Service Provider and shall at all times be under the sole direction and control of such Service Provider.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each of SplitCo and Medtronic acknowledges that it will acquire no right, title or interest (including any license rights or rights of use) in any firmware or software, or the licenses therefor that are owned by the other Party or its Affiliates, Subsidiaries or divisions, by reason of the provision of the Services hereunder, except as expressly provided in <u>Section 3.03</u>.

Section 9.02&nbsp;&nbsp;&nbsp;&nbsp;<u>Force Majeure</u>. In case performance of any terms or provisions hereof shall be delayed or prevented, in whole or in part, because of or related to compliance with any Law or requirement of any national securities exchange, or because of riot, war, public disturbance, strike, labor dispute, fire, explosion, storm, flood, earthquake, pandemic, shortage of necessary equipment, materials or labor, or restrictions thereon or limitations upon the use thereof, delays in transportation, act of God or act of terrorism, in each case, that is not within the control of the Party whose performance is interfered with and which, by the exercise of reasonable diligence, such Party is unable to prevent, or for any other reason which is not within the control of such Party whose performance is interfered with and which, by the exercise of reasonable diligence, such Party is unable to prevent (each, a "<u>Force Majeure Event</u>"), then, upon prompt written notice stating the date and extent of such interference and the cause thereof by such Party to the other Party, such Party shall be excused from its obligations hereunder during the period such Force Majeure Event or its effects continue, and no liability shall attach against either Party on account thereof; <u>provided</u>, <u>however</u>, that the Party whose performance is interfered with promptly resumes the required performance upon the cessation of the Force Majeure Event or its effects. No Party shall be excused from performance if such Party fails to use commercially reasonable efforts to remedy the situation and remove the cause and effects of the Force Majeure Event.

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Section 9.03&nbsp;&nbsp;&nbsp;&nbsp;<u>Separation Agreement</u>. The Parties agree that, in the event of a conflict between the terms of this Agreement and the Separation Agreement with respect to the subject matter hereof, the terms of this Agreement shall govern.

Section 9.04&nbsp;&nbsp;&nbsp;&nbsp;<u>Relationship of Parties</u>. Nothing in this Agreement shall be deemed or construed by the Parties or any third party as creating a relationship of principal and agent, partnership or joint venture between the Parties, between Service Providers and Service Recipients or with any individual providing Services, it being understood and agreed that no provision contained herein, and no act of any Party or members of their respective Groups, shall be deemed to create any relationship between the Parties or members of their respective Groups other than the relationship set forth herein. Each Party and each Service Provider shall act under this Agreement solely as an independent contractor and not as an agent or employee of any other Party or any of such Party's Affiliates.

Section 9.05&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidentiality</u>. Each Party hereby acknowledges that confidential Information of such Party or members of its Group may be exposed to employees and agents of the other Party or its Group who have a need to know such confidential Information as a result of, or in connection with, the activities contemplated by this Agreement. Each Party agrees, on behalf of itself and its Affiliates, that such Party's obligation (and the obligation of members of its Group) to use and keep confidential such Information of the other Party or its Group shall be governed by Section 7.09 of the Separation Agreement.

Section 9.06&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts; Entire Agreement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may be executed in one or more counterparts, all of which counterparts shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each Party and delivered to the other Party. This Agreement may be executed by facsimile or PDF signature and a facsimile or PDF signature shall constitute an original for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;This Agreement, the Separation Agreement, the other Ancillary Agreements and the Exhibits and Schedules hereto and thereto contain the entire agreement between the Parties with respect to the subject matter hereof and supersede all previous agreements, negotiations, discussions, writings, understandings, commitments and conversations with respect to such subject matter, and there are no agreements or understandings between the Parties with respect to the subject matter hereof other than those set forth or referred to herein or therein. Nothing contained in this Agreement is intended or shall be construed to amend or modify in any respect, or constitute a waiver of, any of the rights and obligations of the parties under the Separation Agreement.

Section 9.07&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law; Jurisdiction</u>. Any disputes arising out of, related to or in connection with this Agreement, including, without limitation, to its execution, performance, or enforcement, shall be governed by, and construed in accordance with, the Laws of the State of Delaware, regardless of the Laws that might otherwise govern under applicable principles of conflicts of Laws thereof. Each Party irrevocably consents to the exclusive jurisdiction, forum and venue of the Court of Chancery of the State of Delaware or, if (and only

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if) the Court of Chancery of the State of Delaware finds it lacks subject matter jurisdiction, the federal court of the United States sitting in Delaware or, if (and only if) the federal court of the United States sitting in Delaware finds it lacks subject matter jurisdiction, the Superior Court of the State of Delaware, and appellate courts thereof, over any and all claims, disputes, controversies or disagreements between the Parties or any of their respective Subsidiaries, Affiliates, successors and assigns under or related to this Agreement or any document executed pursuant to this Agreement or any of the transactions contemplated hereby or thereby. Each Party agrees that a final, unappealable judgment or order in any legal proceeding resolved in accordance with <u>Article VIII</u>, this <u>Section 9.07</u>, <u>Section 9.08</u>, and <u>Section 9.09</u> shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable Law.

Section 9.08&nbsp;&nbsp;&nbsp;&nbsp;<u>WAIVER OF JURY TRIAL</u>. EACH OF THE PARTIES ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH OF THE PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT. EACH OF THE PARTIES CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT, IN THE EVENT OF ANY LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH OF THE PARTIES UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH OF THE PARTIES MAKES THIS WAIVER VOLUNTARILY AND (D) EACH OF THE PARTIES HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 9.08</u>.

Section 9.09&nbsp;&nbsp;&nbsp;&nbsp;<u>Specific Performance</u>. Subject to <u>Article VIII</u>, in the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the affected Party shall have the right to specific performance and injunctive or other equitable relief of its rights under this Agreement, in addition to any and all other rights and remedies at Law or in equity, and all such rights and remedies shall be cumulative. The Parties agree that the remedies at Law for any breach or threatened breach hereof, including monetary damages, are inadequate compensation for any loss and that any defense in any action for specific performance that a remedy at Law would be adequate is waived. Any requirements for the securing or posting of any bond with such remedy are waived.

Section 9.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Assignability</u>. Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in part, by operation of Law or otherwise by either Party without the prior written consent of the other Party. Any purported assignment without such consent shall be void. Subject to the preceding sentences, this Agreement will be binding upon, inure to the benefit of, and be enforceable by, the Parties and their respective successors and assigns. Notwithstanding the foregoing, Medtronic may assign this Agreement (or any provision thereof) (i) to any Affiliate of Medtronic or (ii) pursuant to any

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Medtronic Change of Control; <u>provided</u>, <u>however</u>, that the assignee expressly assumes in writing all of the obligations of the assigning Party under this Agreement, and the assigning Party provides written notice and evidence of such assignment and assumption to the non-assigning Party; provided, further, that upon the effective time of the SplitCo Merger, SplitCo Parent shall, automatically and without any action from any other Person (including the requirements described in the immediately foregoing proviso), succeed to all of SplitCo's rights and obligations under this Agreement and shall expressly assume and agree to perform, discharge, and be bound by all of SplitCo's obligations, covenants, and liabilities under this Agreement and all Ancillary Agreements to which the Initial SplitCo Party is a party as of the effective time of the SplitCo Merger. Nothing in this <u>Section 9.10</u> shall affect or impair a Service Provider's ability to delegate any or all of its obligations under this Agreement to one or more Affiliates or Sub-Contractors pursuant to <u>Section 2.01(f)</u>.

Section 9.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Third-Party Beneficiaries</u>. Except for the indemnification rights under this Agreement of any Medtronic Indemnitee or SplitCo Indemnitee in their respective capacities as such, (a) the provisions of this Agreement are solely for the benefit of the Parties hereto and are not intended to confer upon any Person except the Parties hereto any rights or remedies hereunder and (b) there are no third-party beneficiaries of this Agreement and this Agreement shall not provide any third person with any remedy, claim, liability, reimbursement, cause of action or other right in excess of those existing without reference to this Agreement.

Section 9.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. All notices or other communications under this Agreement shall be in writing and shall be provided in the manner set forth in the Separation Agreement.

Section 9.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If any provision of this Agreement or the application thereof to any Person or circumstance is determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to Persons or circumstances or in jurisdictions other than those as to which it has been held invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to either Party. Upon any such determination, any such provision, to the extent determined to be invalid, void or unenforceable, shall be deemed replaced by a provision that such court determines is valid and enforceable and that comes closest to expressing the intention of the invalid, void or unenforceable provision.

Section 9.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Headings</u>. The article, section and paragraph headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

Section 9.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Waivers of Default</u>. No failure or delay of any Party (or the applicable member of its Group) in exercising any right or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or

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power. Waiver by any Party of any default by the other Party of any provision of this Agreement shall not be deemed a waiver by the waiving Party of any subsequent or other default.

Section 9.16&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments</u>. No provisions of this Agreement shall be deemed amended, supplemented or modified by any Party, unless such amendment, supplement or modification is in writing and signed by an authorized representative of each Party, and no waiver of any provisions of this Agreement shall be effective unless in writing and signed by an authorized representative of the Party sought to be bound by such waiver.

Section 9.17&nbsp;&nbsp;&nbsp;&nbsp;<u>Interpretation</u>. The rules of interpretation set forth in Section 11.16 of the Separation Agreement are incorporated by reference into this Agreement, *mutatis mutandis*.

[*Remainder of page intentionally blank.*]

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IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.

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| | |
|:---|:---|
| **MEDTRONIC GROUP HOLDING, INC.**  | **MEDTRONIC GROUP HOLDING, INC.**  |
| By: | /s/ Brian Sandstrom |
|  | Name: Brian Sandstrom |
|  | Title: Vice President and Secretary |
| **KANGAROO US HOLDCO 2, INC.** | **KANGAROO US HOLDCO 2, INC.** |
| By: | /s/ Chris Eso |
|  | Name: Chris Eso |
|  | Title: President |

---

[*Signature Page to Transition Services Agreement*]

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**<u>SCHEDULE A</u>**

**SERVICES TO BE PROVIDED TO SPLITCO GROUP**

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**<u>SCHEDULE B</u>**

**SERVICES TO BE PROVIDED TO MEDTRONIC GROUP**

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**<u>SCHEDULE C</u>**

**RELATED SERVICES**

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**<u>SCHEDULE D</u>**

**SERVICE COORDINATORS**

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**EXHIBIT A**

**DATA PROTECTION**

## Exhibit 10.9

**Exhibit 10.9**

**REGISTRATION RIGHTS AGREEMENT** (this "<u>Agreement</u>"), dated as of March 1, 2026, between Medtronic plc, an Irish public limited company ("<u>Medtronic</u>"), and Kangaroo US HoldCo 2, Inc., a Delaware corporation, which on or before the Separation Date (as defined in the Separation Agreement) shall be merged with and into MiniMed Group, Inc., a Delaware corporation (the "<u>Company</u>").

WHEREAS the Company intends to offer and sell in an initial public offering (the "<u>IPO</u>"), by means of a Registration Statement on Form S-1 (File No. 333-292284) filed with the U.S. Securities and Exchange Commission (the "<u>SEC</u>"), shares of common stock, par value $0.01 per share, of the Company (the "<u>Common Stock</u>");

WHEREAS, in connection with the IPO, Medtronic Group Holding, Inc., a Minnesota corporation, and the Company have entered into the Separation Agreement of even date herewith (the "<u>Separation Agreement</u>") and certain other Ancillary Agreements (as defined in the Separation Agreement);

WHEREAS Medtronic currently owns, directly or indirectly, all of the issued and outstanding shares of the Common Stock;

WHEREAS Medtronic intends to preserve its ability to evaluate strategic options with respect to its remaining ownership interest in the Company after the IPO consistent with its rights and obligations under the Separation Agreement, including pursuant to Section 5.02 thereunder after the Separation Date (as defined in the Separation Agreement); and

WHEREAS Medtronic and the Company desire to make certain arrangements to provide Medtronic with registration rights with respect to the shares of the Common Stock directly or indirectly owned by Medtronic.

NOW, THEREFORE, in consideration of the mutual agreements, provisions, and covenants contained in this Agreement, the parties, intending to be legally bound, hereby agree as follows:

Section 1. <u>Effectiveness of Agreement.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 <u>Effective Time.</u> This Agreement shall become effective upon the Separation Closing (as defined in the Separation Agreement) (the "<u>Effective Time</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 <u>Shares Covered.</u> This Agreement covers all shares of the Common Stock that are directly or indirectly owned by Medtronic as of the Effective Time and any shares of the Common Stock that may be issued by the Company in connection with the Divestment (as defined in the Separation Agreement) after the Effective Time (the "<u>Shares</u>"). The Shares shall include any securities issued or issuable with respect to the Shares by way of a stock dividend or a stock split or in connection with a combination of shares, recapitalization, merger, consolidation, or other reorganization.

Medtronic and any Permitted Transferees (as defined in <u>Section 2.5</u>) are each referred to herein as a "<u>Holder</u>" and collectively as the "<u>Holders</u>," and the Holders of Shares proposed to be included in any registration under this Agreement are each referred to herein as a "<u>Selling Holder</u>" and collectively as the "<u>Selling Holders</u>."

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Section 2. <u>Demand Registration.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 <u>Notice.</u> Upon the terms and subject to the conditions set forth herein, upon written notice of any Holder requesting that the Company effect the registration under the Securities Act of 1933, as amended (the "<u>Securities Act</u>"), of all or a portion of the Shares held by such Holder, which notice shall specify the Shares intended to be disposed of by such Holder and the intended method or methods of disposition of such Shares (which methods may include a Shelf Registration (as such term is defined in <u>Section 2.6</u>)), the Company will, no less than five calendar days after receipt of such notice from any Holder, give written notice of the proposed registration to all other Holders, if any, and will use its reasonable best efforts to effect (at the earliest reasonable date) the registration under the Securities Act of such Shares (and the Shares of any other Holders joining in such registration request as specified in a written notice received by the Company within 10 calendar days after receipt of the Company's written notice of the proposed registration, or two calendar days if the proposed registration is an underwritten offering pursuant to a Shelf Registration) for disposition in accordance with the intended method or methods of disposition stated in such registration request (each registration request pursuant to this <u>Section 2.1</u> is sometimes referred to herein as a "<u>Demand Registration</u>"); <u>provided</u>, <u>however</u>, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company shall not be obligated to effect registration with respect to any Shares pursuant to this <u>Section 2.1</u> (i) in violation of the underwriting agreement entered into in connection with the IPO, (ii) in violation of any underwriting agreement entered into in connection with any other offering effected in accordance with this Agreement (so long as the lock-up period in such underwriting agreement does not exceed 90 calendar days), or (iii) within 60 calendar days after the effective date of a previous registration, other than a Shelf Registration, effected with respect to Shares pursuant to this <u>Section 2</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if at the time a Demand Registration is requested pursuant to this <u>Section 2</u>, the Company reasonably determines in good faith that (i) such Demand Registration would require the disclosure of material nonpublic information, the disclosure of which would be reasonably likely to have a material adverse effect on the Company, (ii) such Demand Registration would materially impede, delay, or interfere with any material acquisition, divestiture, joint venture, merger, consolidation, other business combination, corporate reorganization, tender offer, or other material transaction of the Company, or (iii) the Company is unable to comply with SEC requirements for effectiveness of such Demand Registration (each of clauses (i) through (iii), a "<u>Disadvantageous Condition</u>"), the Company may, upon giving prompt written notice of such determination to the Holders (or, if such determination occurs after the applicable deadline for written notice to join in such Demand Registration as provided in this <u>Section 2.1</u> has passed, to the Selling Holders), postpone the filing or effectiveness (but not the preparation) of such registration until the earlier of (A) seven calendar days after the date on which the Disadvantageous Condition no longer exists or (B) 60 calendar days after the date on which the Company makes such determination that a Disadvantageous Condition exists; <u>provided</u>, <u>however</u>, that the postponement rights in this <u>Section 2.1(b)</u> and <u>Section 4.3(a)</u> shall not be applicable to the Holders for more than a total of 120 days during any 12-month period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the number of Shares originally requested to be registered pursuant to any registration requested pursuant to this <u>Section 2</u> shall cover Shares that represent an aggregate

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offering price reasonably expected to generate gross proceeds of at least $10,000,000 or such lesser amount that constitutes all Shares owned by the Holders requesting such registration;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if the intended method of disposition is a Demand Registration that is an underwritten offering and the managing underwriter(s) advise the Company in writing that in their opinion the number of Shares requested to be included in such offering exceeds the number of Shares which can be sold in an orderly manner in such offering within a price range acceptable to the Holders of a majority of the Shares initially requesting such registration or without materially adversely affecting the market for the Common Stock, the Company shall include in such registration the number of Shares requested by Holders of a majority of the Shares to be included therein which, in the opinion of such Holders based upon advice of the managing underwriter(s), can be sold in an orderly manner within the price range of such offering and without materially adversely affecting the market for the Common Stock, in accordance with the following priorities: (x) first, up to the number of Shares requested to be included in such registration by Medtronic and its Affiliates (as defined in <u>Section 2.1</u>) and (y) second, up to the number of Shares requested to be included in such registration by Selling Holders other than Medtronic and its Affiliates, pro rata among such Selling Holders of such Shares on the basis of the number of Shares requested to be registered by each such Selling Holder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Company shall not be obligated to effect more than two Demand Registrations in any 12-month period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) notwithstanding anything in this Agreement to the contrary, the requirement for the Company to give written notice of a Demand Registration to other Holders and the rights of other Holders to join a Demand Registration, as described in this <u>Section 2.1</u>, shall not apply to an underwritten offering that constitutes a block trade.

For the purposes of this Agreement, an "<u>Affiliate</u>" of any Person (as defined in the Separation Agreement) means a Person that controls, is controlled by, or is under common control with such Person. As used herein, "control" of any entity means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such entity, whether through ownership of voting securities or other interests, by contract, or otherwise; <u>provided</u>, <u>however</u>, that (a) the Company and the other members of the SplitCo Group (as defined in the Separation Agreement) shall not be considered Affiliates of Medtronic or any of the other members of the Medtronic Group (as defined in the Separation Agreement) and (b) Medtronic and the other members of the Medtronic Group shall not be considered Affiliates of the Company or any of the other members of the SplitCo Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 <u>Registration Expenses.</u> All Registration Expenses (as defined in <u>Section 8</u>) for any registration requested pursuant to this <u>Section 2</u> (including any registration that is delayed or withdrawn, subject to the provisions of <u>Section 2.9</u>) shall be paid by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 <u>Selection of Professionals.</u> Medtronic, in the event Medtronic is participating, or the Holders of a majority of the Shares included in any Demand Registration, in the event Medtronic is not participating, shall have the right to select the investment bankers and managers to underwrite or otherwise administer the offering, the financial printer for the offering, and counsel for the Selling Holders; <u>provided</u> that, in the event Medtronic is not participating, such

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investment bankers, managers, financial printer, and counsel shall also be approved by the Company, such approval not to be unreasonably withheld, conditioned, or delayed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 <u>Third-Person Shares.</u> The Company shall have the right to cause the registration of securities for sale for the account of any Person (as defined in <u>Section 6(e)</u>) (including the Company) other than the Selling Holders (the "<u>Third-Person Shares</u>") in any registration of the Shares requested pursuant to this <u>Section 2</u> so long as the Third-Person Shares are disposed of in accordance with the intended method or methods of disposition requested pursuant to this <u>Section 2</u>.

If a Demand Registration in which the Company proposes to include Third-Person Shares is an underwritten offering and the managing underwriter(s) advise the Company in writing that in their opinion the number of Shares and Third-Person Shares requested to be included in such offering exceeds the number of Shares and Third-Person Shares which can be sold in an orderly manner in such offering within a price range acceptable to the Holders of a majority of the Shares initially requesting such registration or without materially adversely affecting the market for the Common Stock (the "<u>Maximum Number</u>"), the Company shall not include in such registration any Third-Person Shares unless all of the Shares initially requested to be included therein are so included, and then only to the extent of the Maximum Number.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 <u>Permitted Transferees.</u> As used in this Agreement, "<u>Permitted Transferees</u>" shall mean any transferee, whether direct or indirect, of Shares that (a) (i) as of the time of transfer of the Shares to such transferee is, and as of immediately prior to the sale of Shares pursuant to the Demand Registration or Piggyback Registration (as defined in <u>Section 3.1</u>), as the case may be, will be, a member of the Medtronic Group (as defined in the Separation Agreement) or (ii) acquires from any member or members of the Medtronic Group at least 5% of the number of shares of Common Stock directly or indirectly owned by Medtronic immediately following the Separation Closing and executes an agreement to be bound by this Agreement, a copy of which shall be furnished the Company and (b) is designated by Medtronic (or a subsequent Holder) in a written notice to the Company. Any Permitted Transferee of the Shares shall be subject to and bound by and benefit from all of the terms and conditions herein applicable to Holders. For the avoidance of doubt, any Permitted Transferee of Shares that is not a member of the Medtronic Group shall be subject to and bound by and benefit from all of the terms and conditions applicable to Holders generally and not those applicable to Medtronic (or any member of the Medtronic Group) specifically, and any Permitted Transferee of Shares that is a member of the Medtronic Group shall be subject to and bound by and benefit from all of the terms and conditions applicable to Holders generally and those applicable to Medtronic (or any member of the Medtronic Group) specifically. The notice required by this <u>Section 2.5</u> shall be signed by both the transferring Holder and the Permitted Transferees so designated and shall include an undertaking by the Permitted Transferees to comply with the terms and conditions of this Agreement applicable to Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 <u>Shelf Registration; Divestment.</u> With respect to any Demand Registration, the requesting Holders may, but shall not be required to, request the Company to effect a registration of the Shares (a) at any time after the date hereof when the Company is eligible to register the Shares on Form S-3 (or any successor form), under a registration statement pursuant to Rule 415 under the Securities Act (or any successor rule) (a "<u>Shelf Registration</u>") or (b) in the form of a

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Divestment or an Other Disposition (as such terms are defined in the Separation Agreement). The Company shall use its reasonable best efforts to comply with any such request, subject to the terms and conditions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 <u>SEC Form; Information.</u> The Company shall use its reasonable best efforts to cause Demand Registrations to be registered on Form S-3 (or any successor form), and if the Company is not then eligible under the Securities Act to use Form S-3, such Demand Registrations shall be registered on Form S-1 (or any successor form), or, in the case of an exchange offer, Form S-4 (or any successor form). The Company shall use its reasonable best efforts to become eligible to use Form S-3 and, after becoming eligible to use Form S-3, shall use its reasonable best efforts to remain so eligible. All such Demand Registrations shall comply with the applicable requirements of the Securities Act and the SEC's rules and regulations thereunder, and, together with each prospectus included, filed, or otherwise furnished by the Company in connection therewith, shall not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading. The Company shall be and remain in compliance with the periodic filing requirements imposed under the SEC's rules and regulations, including the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>"), and any other applicable laws or rules, and shall timely file such information, documents, and reports as the SEC may require or prescribe under Sections 13 or 15(d) of the Exchange Act. If the Company is not required to file such reports, it will, upon the request of any Holder, make publicly available such necessary information for so long as necessary to permit sales pursuant to Rule 144 under the Securities Act (or any successor provision) ("<u>Rule 144</u>"), and it will take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell Shares without registration under the Securities Act within the limitation of the exemptions provided by Rule 144. From and after the date hereof through the earlier of (a) the expiration or termination of this Agreement or (b) the first anniversary of the date upon which no Holder owns any Shares, the Company shall forthwith upon written request by Medtronic (i) furnish any Holder (A) a written statement by the Company as to whether it has complied with such requirements and, if not, the specifics thereof, (B) a copy of the most recent annual or quarterly report of the Company, and (C) such other reports and documents filed by the Company with the SEC and (ii) take such further action as such Holder may reasonably request in availing itself of an exemption for the sale of Shares without registration under the Securities Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 <u>Other Registration Rights.</u> The Company shall not grant to any Persons the right to request that the Company register any equity securities of the Company, or any securities convertible or exchangeable into or exercisable for such securities, whether pursuant to "demand," "piggyback," or other rights, unless (i) such rights are subject and subordinate to the rights of the Holders under this Agreement or (ii) Medtronic has consented in writing to the granting of any rights that are equal or senior to any of the rights under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9 <u>Withdrawal.</u> At any time prior to the effective date of the registration statement or the filing of a prospectus statement relating to such registration or, in the case of a Demand Registration or Piggyback Registration (as defined in <u>Section 3.1</u>) that is an underwritten offering, at any time prior to the execution of an underwriting agreement with

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respect thereto, the Holder making such request for registration or inclusion in registration may withdraw such request, without liability to any of the other Holders, by providing a written notice to the Company withdrawing such request. A request for a Demand Registration, so withdrawn, shall be considered to be a Demand Registration unless (i) such withdrawal arose out of the fault of the Company (in which case the Company shall be obligated to pay all Registration Expenses in connection with such withdrawn request) or (ii) the Holder making such request for registration reimburses the Company for all Registration Expenses (other than the expenses set forth under <u>Section 8(g)</u>) in connection with such withdrawn request; <u>provided</u>, <u>however</u>, that if a Holder requests a Demand Registration within 60 calendar days after the Holder withdrew a Demand Registration pursuant to this <u>Section 2.9</u>, then such previously withdrawn Demand Registration shall not be deemed to be a Demand Registration for purposes of <u>Section 2.1(e)</u>.

Section 3. <u>Piggyback Registrations.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <u>Notice and Registration.</u> If the Company proposes to register any shares of its securities for public sale under the Securities Act (whether proposed to be offered for sale by the Company or any other Person), on a form and in a manner that would permit registration of the Shares for sale to the public under the Securities Act (a "<u>Piggyback Registration</u>"), it will give at least 20 calendar days' advance written notice to the Holders of its intention to do so, and upon the written request of any or all of the Holders delivered to the Company within 15 calendar days after the giving of any such notice (which request shall specify the Shares intended to be disposed of by such Holders), the Company will use its reasonable best efforts to effect, in connection with the registration of such other securities, the registration under the Securities Act of all of the Shares which the Company has been so requested to register by such Holders (which shall then become Selling Holders), to the extent required to permit the disposition (in accordance with the same method of disposition as the Company proposes to use to dispose of the other securities) of the Shares to be so registered; <u>provided</u>, <u>however</u>, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if, at any time after giving such written notice of its intention to register any of its other securities and prior to the effective date of the registration statement filed in connection with such registration, the Company shall determine for any reason to delay registration of, or not to register, such other securities, the Company may, at its election, give written notice of such determination to the Selling Holders (or, if prior to the expiration of the 20-day period described above in this <u>Section 3.1</u>, the Holders) and thereupon the Company shall be relieved of its obligation to register such Shares in connection with the registration of such other securities (but not from its obligation to pay Registration Expenses to the extent incurred in connection therewith as provided in <u>Section 3.3</u>), without prejudice, however, to the rights (if any) of any Selling Holders immediately to request (subject to the terms and conditions of <u>Section 2</u>) that such registration be effected as a registration under <u>Section 2</u> or to include such Shares in any subsequent Piggyback Registration pursuant to this <u>Section 3</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company shall not be required to effect any registration of the Shares under this <u>Section 3</u> incidental to the registration of any of its securities (i) on Form S-4 or S-8 or any successor or similar forms, (ii) relating to equity securities issuable upon exercise of employee stock or similar options or in connection with any employee benefit or similar plan of the Company, or (iii) in connection with an acquisition of, or an investment in, another entity by the Company;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Company's filing of a Shelf Registration shall not be deemed to be a Piggyback Registration; <u>provided</u>, <u>however</u>, that the proposal to file any prospectus supplement filed pursuant to a Shelf Registration with respect to an offering of shares of the Common Stock (whether proposed to be offered for sale by the Company or any other Person) will be a Piggyback Registration unless such offering qualifies for an exemption under this <u>Section 3.1</u>; <u>provided further</u> that, if the Company files a Shelf Registration, the Company agrees that it shall use its reasonable best efforts to include in such registration statement such disclosures as may be required by Rule 430B under the Securities Act in order to ensure that the Holders may be added to such Shelf Registration at a later time through the filing of a prospectus supplement rather than a post-effective amendment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) if a Piggyback Registration is an underwritten registration on behalf of the Company (whether or not selling security holders are included therein) and the managing underwriter(s) advise the Company in writing that in their opinion the number of securities requested to be included in such registration exceeds the number that can be sold in such offering without materially adversely affecting the marketability of the offering or the market for the Common Stock (the "<u>Piggyback Maximum Number</u>"), the Company shall include the following securities in such registration up to the Piggyback Maximum Number and in accordance with the following priorities: (w) first, the securities the Company proposes to sell, (x) second, up to the number of Shares requested to be included in such registration by Medtronic, (y) third, up to the number of Shares requested to be included in such registration by Selling Holders other than Medtronic, pro rata among such Selling Holders of such Shares on the basis of the number of Shares requested to be registered by each such Selling Holder, and (z) fourth, up to the number of any other securities requested to be included in such registration;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) no registration of the Shares effected under this <u>Section 3</u> shall relieve the Company of its obligation to effect a registration of Shares pursuant to, and subject to, <u>Section 2</u>; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) at any time prior to the execution of an underwriting agreement with respect thereto, any Selling Holder may withdraw any or all of its Shares from a Piggyback Registration by providing a written notice to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <u>Selection of Professionals.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If any Piggyback Registration is an underwritten offering in which the Company is offering Shares for its own account (a "<u>MiniMed Public Sale</u>"), then (x) the Company shall select the investment bankers and managers to underwrite or otherwise administer the offering and the financial printer for the offering and (y) Medtronic, in the event Medtronic is participating, or the Holders of a majority of the Shares being included in such MiniMed Public Sale, in the event Medtronic is not participating, shall have the right to select counsel for the Selling Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If any Piggyback Registration is an underwritten offering that is not a MiniMed Public Sale, then (x) in the event Medtronic is participating, Medtronic shall have the right to select the investment bankers and managers to underwrite or otherwise administer the offering, the financial printer for the offering, and counsel for the Selling Holders and (y) in the event Medtronic is not participating, then the Holders of a majority of the Shares included in

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such Piggyback Registration shall have the right to select the investment bankers and managers to underwrite or otherwise administer the offering, the financial printer for the offering, and counsel for the Selling Holders; <u>provided</u> that such investment bankers, managers, financial printer, and counsel shall also be approved by the Company, such approval not to be unreasonably withheld, conditioned, or delayed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 <u>Registration Expenses.</u> The Company shall pay all of the Registration Expenses in connection with any registration pursuant to this <u>Section 3</u>.

Section 4. <u>Registration Procedures.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <u>Registration and Qualification.</u> If and whenever the Company is required to use its reasonable best efforts to effect the registration of any of the Shares under the Securities Act as provided in <u>Section 2</u> and <u>Section 3</u>, including an underwritten offering pursuant to a Shelf Registration, the Company shall use its reasonable best efforts to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) as promptly as practicable (and in any event within 45 calendar days) after the date of any request for registration under <u>Section 2</u>, prepare and file with the SEC a registration statement with respect to such Shares and cause such registration statement to become effective as expeditiously as possible after the initial filing thereof; <u>provided</u> that, before filing a registration statement or prospectus or any amendment or supplement thereto, the Company shall furnish to the Selling Holders and the underwriter(s), if any, copies of all such documents proposed to be filed (which documents shall be subject to the review and comment of such parties) and the Company shall not file with the SEC any registration statement or prospectus or amendments or supplements thereto to which the Selling Holders or the underwriter(s), if any, shall reasonably object;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) except in the case of a Shelf Registration effected on Form S-3, prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all such Shares until the earlier of (i) such time as all such Shares have been disposed of in accordance with the intended methods of disposition set forth in such registration statement or (ii) the expiration of 90 calendar days after such registration statement becomes effective, plus the number of days that any filing or effectiveness has been delayed under <u>Section 2.1(b)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in the case of a Shelf Registration effected on Form S-3, prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all Shares subject thereto for a period ending on the earlier of (i) 36 months after the effective date of such registration statement plus the number of days that any filing or effectiveness has been delayed under <u>Section 2.1(b)</u> or suspended under <u>Section 4.3(a)</u> and (ii) the date on which all the Shares subject thereto have been sold pursuant to such registration statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) furnish to the Selling Holders and the underwriter(s), if any, such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus included in such registration statement (including each preliminary prospectus and any summary

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prospectus), in conformity with the requirements of the Securities Act, such documents incorporated by reference in such registration statement or prospectus, and such other documents as the Selling Holders or such underwriter(s) may reasonably request;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) register or qualify all of the Shares covered by such registration statement under such other securities or blue sky laws of such jurisdictions as the Selling Holders or any underwriter(s) shall reasonably request, and do any and all other acts and things which may be necessary or advisable to enable the Selling Holders or any underwriter(s) to consummate the disposition in such jurisdictions of the Shares covered by such registration statement, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction where it is not so qualified, subject itself to taxation in any such jurisdiction or consent to general service of process in any such jurisdiction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) in the case of an underwritten offering, (i) furnish to the underwriter(s), addressed to them, an opinion of counsel for the Company and (ii) furnish to the underwriter(s), addressed to them, a "cold comfort" letter signed by the independent public accountants who have certified the Company's financial statements included in such registration statement, covering substantially the same matters with respect to such registration statement (and the prospectus included therein) and, in the case of such accountants' letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer's counsel and in accountants' letters delivered to underwriters in underwritten public offerings of securities and such other matters as the underwriter(s) may reasonably request, in each case, in form and substance and as of the dates reasonably satisfactory to the underwriter(s);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) enter into such customary agreements (including, if applicable, an underwriting agreement containing customary provisions for indemnification and contribution covering the underwriter(s) and their Affiliates) and take such other actions as the Selling Holders shall reasonably request in order to expedite or facilitate the disposition of such Shares (it being understood that the relevant Selling Holders may be parties to any such underwriting agreement and may, at their option, require that the Company make to and for the benefit of such Selling Holders the representations, warranties, and covenants of the Company which are being made to and for the benefit of such underwriter(s));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) notify the Selling Holders and the managing underwriter(s), if any, and (if requested) confirm such advice in writing and provide copies of the relevant documents, as soon as reasonably practicable after notice thereof is received by the Company, (i) when the applicable registration statement or any amendment thereto has been filed or becomes effective, and when the applicable prospectus or any amendment or supplement to such prospectus has been filed, (ii) of any comments (written or oral) by the SEC or any request by the SEC or any other federal or state governmental authority (written or oral) for amendments or supplements to such registration statement or such prospectus or for additional information, (iii) of the issuance by the SEC of any stop order suspending the effectiveness of such registration statement or any order preventing or suspending the use of any preliminary or final prospectus or the initiation or threatening of any proceedings for such purposes, (iv) if, at any time, the representations and warranties of the Company in any applicable underwriting agreement cease to be true and correct in all material respects, and (v) of the receipt by the Company of any notification with respect to

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the suspension of the qualification of the Shares for offering or sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) comply with all applicable rules and regulations of the SEC, and make generally available to its security holders, as soon as reasonably practicable after the effective date of the relevant registration statement (and in any event within 90 calendar days after the end of such 12-month period described hereafter), an earnings statement (which need not be audited) covering the period of at least 12 consecutive months beginning with the first day of the Company's first calendar quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) immediately notify the Selling Holders and the managing underwriter(s), if any, at any time when a prospectus relating to a registration pursuant to <u>Section 2</u> or <u>Section 3</u> is required to be delivered under the Securities Act, of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, and at the request of the Selling Holders or the underwriter(s) prepare and file with the SEC (and furnish to the Selling Holders and the underwriter(s) a reasonable number of copies of) a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Shares, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) permit any Selling Holders comprising holders of a majority of the Shares to be included in such registration to participate in the preparation of such registration statement (including having prompt access to any SEC comment letters or other communications in connection with such registration and the Company's responses thereto) and to require the insertion therein of material, furnished to the Company in writing, which in the reasonable judgment of such Selling Holders and their counsel should be included, subject to the Company's approval, such approval not to be unreasonably withheld, conditioned, or delayed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) provide and cause to be maintained a transfer agent and registrar for all such Shares covered by such registration statement not later than the effective date of such registration statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) provide a CUSIP number for all such Shares, not later than the effective date of such registration statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) in the case of a Demand Registration relating to an underwritten offering, cause the senior executive officers of the Company, as selected by mutual agreement of the Company and the Selling Holders, to facilitate, cooperate with, and participate in each proposed offering contemplated herein and customary selling efforts related thereto, including participation of such officers in road show presentations, during normal business hours, upon reasonable notice, and in a manner that does not unreasonably interfere with the operations of the Company's business;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) cooperate with the Selling Holders and the managing underwriter(s), if any, to facilitate the timely preparation and delivery of certificates not bearing any restrictive legends representing the Shares to be sold, and cause such Shares to be issued in such denominations and registered in such names in accordance with the underwriting agreement prior to any sale of Shares to the underwriter(s) or, if not an underwritten offering, in accordance with the instructions of the Selling Holders at least three Business Days (as defined in the Separation Agreement) prior to any sale of Shares and instruct any transfer agent and registrar of Shares to release any stop transfer orders in respect thereof; <u>provided</u> that the Company may satisfy its obligations under this <u>Section 4.1(o)</u> without issuing physical stock certificates through the use of the Depository Trust Company's Direct Registration System;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) take no direct or indirect action prohibited by Regulation M under the Exchange Act; <u>provided</u>, <u>however</u>, that, to the extent that any prohibition is applicable to the Company, the Company will take such action as is necessary to make any such prohibition inapplicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) in the event of the issuance of any stop order suspending the effectiveness of such registration statement, or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any securities included in such registration statement for sale in any jurisdiction, the Company shall use its reasonable best efforts promptly to obtain the withdrawal of such order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) cause the Shares covered by such registration statement to be registered with or approved by such other government agencies or authorities, as may be necessary to enable the sellers thereof to consummate the disposition of such Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) take all such other commercially reasonable actions as are necessary or advisable in order to expedite or facilitate the disposition of such Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) without limiting the applicability of, and obligations described in, clauses (a) through (s) above, in the case of any Demand Registration in the form of a Divestment or Other Disposition, the Company shall take such corresponding actions described in clause (a) through (s) above that are customarily applicable to such transactions and shall use its reasonable best efforts to effect such Divestment or Other Disposition.

The Company may require the Selling Holders to furnish the Company with such information regarding the Selling Holders and the distribution of such Shares, and other customary certifications and agreements, as the Company may from time to time reasonably request in writing and as shall be required by law, the SEC, or any securities exchange on which any shares of Common Stock are then listed for trading in connection with any registration.

Each Selling Holder will as promptly as reasonably practicable notify the Company, at any time when a prospectus relating thereto is required to be delivered (or deemed delivered) under the Securities Act, of the occurrence of an event, of which such Selling Holder has knowledge, relating to such Selling Holder or its disposition of Shares thereunder requiring the preparation of a supplement or amendment to such prospectus so that, as thereafter delivered (or deemed delivered) to the purchasers of such Shares, such prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or

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necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

Medtronic agrees, and any other Selling Holder agrees by acquisition of such Shares, that, upon receipt of any written notice from the Company of the occurrence of any event of the kind described in <u>Section 4.1(j)</u>, such Selling Holder will forthwith discontinue disposition of Shares pursuant to such registration statement until such Selling Holder's receipt of the copies of the supplemented or amended prospectus contemplated by <u>Section 4.1(j)</u>, or until such Selling Holder is advised in writing by the Company that the use of the prospectus may be resumed, and if so directed by the Company, such Selling Holder will deliver to the Company (at the Company's expense) all copies of the prospectus covering such Shares current at the time of receipt of such notice. In the event the Company shall give any such notice, the period during which the applicable registration statement is required to be maintained effective shall be extended by the number of days during the period from and including the date of the giving of such notice to and including the date when each seller of Shares covered by such registration statement either receives the copies of the supplemented or amended prospectus contemplated by <u>Section 4.1(j)</u> or is advised in writing by the Company that the use of the prospectus may be resumed.

No Selling Holder may participate in any underwritten offering or registered exchange offer hereunder unless such Selling Holder (a) agrees to sell such Selling Holder's securities on the basis provided in any underwriting agreements or other applicable agreements, approved by the Company or other Persons entitled to approve such agreements and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements, other applicable agreements, and other documents reasonably required under the terms of such underwriting or other agreements or this Agreement.

Each Selling Holder other than Medtronic agrees that, in connection with any offering pursuant to this Agreement, it will not prepare, use, or refer to any "free writing prospectus" (as defined in Rule 405 of the Securities Act) without the prior written authorization of the Company, such approval not to be unreasonably withheld, conditioned, or delayed, and will not distribute any written materials in connection with any offering of the Shares under any registration statement registered pursuant to this Agreement other than the applicable prospectus and any such free writing prospectus so authorized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <u>Underwriting.</u> If requested by the underwriter(s) for any underwritten offering (or exchange agent for an exchange offer) in connection with a registration requested hereunder (including any registration under <u>Section 3</u> which involves, in whole or in part, an underwritten offering), the Company will enter into an underwriting agreement with such underwriter(s) (or exchange agent agreement with such exchange agents) for such offering, such agreement to contain such representations and warranties by the Company and such other terms and provisions as are customarily contained in underwriting agreements or exchange offers, as applicable, with respect to that offering, including indemnification and contribution obligations and the provision of opinions of counsel and accountants' letters to the effect and to the extent provided in <u>Section 4.1(f)</u>. The Company may require that the Shares requested to be registered pursuant to <u>Section 3</u> be included in such underwritten offering on the same terms and conditions as shall be applicable to the other securities being sold through underwriter(s) under such registration;

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<u>provided</u>, <u>however</u>, that no Selling Holder shall be required to make any representations or warranties to the Company or the underwriter(s) (other than representations and warranties regarding such Holder and such Holder's intended method of distribution) or to undertake any indemnification obligations to the Company or the underwriter(s) with respect thereto, except as otherwise provided in <u>Section 6</u> hereof. The Selling Holders shall be parties to any such underwriting agreement, and the representations and warranties by, and the other agreements on the part of, the Company to and for the benefit of such underwriter(s) shall also be made to and for the benefit of such Selling Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <u>Blackout Periods for Shelf Registrations.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) At any time when a Shelf Registration effected pursuant to <u>Section 2</u> relating to the Shares is effective, upon written notice from the Company to the Selling Holders that the Company has determined in good faith that (i) the Selling Holders' sale of the Shares pursuant to the Shelf Registration would require the disclosure of material nonpublic information, the disclosure of which would be reasonably likely to have a material adverse effect on the Company, (ii) the Selling Holders' sale of the Shares pursuant to the Shelf Registration would materially impede, delay, or interfere with any material acquisition, divestiture, joint venture, merger, consolidation, other business combination, corporate reorganization, tender offer, or other material transaction of the Company, or (iii) the Company is unable to comply with SEC requirements for continued use or effectiveness of the Shelf Registration (each of clauses (i) through (iii), an "<u>Information Blackout</u>"), the Selling Holders shall suspend sales of the Shares pursuant to such Shelf Registration until the earlier of (A) the date upon which such material information is disclosed to the public or ceases to be material (or the Company otherwise complies with applicable SEC requirements), (B) 60 calendar days after the date on which the Company makes such good faith determination that an Information Blackout exists (unless resuming use of the Shelf Registration is then prohibited by applicable SEC rules or published interpretations), or (C) such time as the Company notifies the Selling Holders that sales pursuant to such Shelf Registration may be resumed (the number of days from such suspension of sales of the Shares until the day when such sales may be resumed hereunder is hereinafter called a "<u>Sales</u> <u>Blackout Period</u>"). The postponement rights in this <u>Section 4.3(a)</u> and <u>Section 2.1(b)</u> shall not be applicable to the Holders for more than a total of 120 days during any 12-month period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If there is an Information Blackout and the Selling Holders do not notify the Company in writing of their desire to cancel such Shelf Registration, the period set forth in <u>Section 4.1(c)(i)</u> shall be extended for a number of days equal to the number of days in the Sales Blackout Period. The fact that a Sales Blackout Period is required under this <u>Section 4.3</u> or SEC rules shall not relieve the contractual duty of the Company as set forth in <u>Section 2.7</u> to file timely reports and otherwise file material required to be filed under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 <u>Listing and Other Requirements.</u> In connection with the registration of any offering of the Shares pursuant to this Agreement, the Company agrees to use its reasonable best efforts to effect the listing of such Shares on any securities exchange on which any shares of the Common Stock are then listed and otherwise facilitate the public trading of such Shares. The Company will take all other lawful actions reasonably necessary and customary under the circumstances to expedite and facilitate the disposition by the Selling Holders of Shares registered pursuant to this Agreement as described in the prospectus relating thereto, including

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timely preparation and delivery of stock certificates, if any, in appropriate denominations and furnishing any required instructions or legal opinions to the Company's transfer agent in connection with Shares sold or otherwise distributed pursuant to an effective registration statement; <u>provided</u> that the Company may satisfy its obligations under this <u>Section 4.4</u> without issuing physical stock certificates through the use of the Depository Trust Company's Direct Registration System.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 <u>Holdback Agreements.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the intended method of disposition is a Demand Registration or Piggyback Registration that is an underwritten offering, then, to the extent requested by the managing underwriter(s) in such underwritten offering, the Company shall not, and shall use reasonable best efforts to obtain agreements (in the managing underwriter(s)' customary form) from its directors, executive officers, and holders of 5% or more of the Company's outstanding voting securities not to, effect any public sale or distribution of its equity securities, or any securities convertible into or exchangeable or exercisable for such securities, during the seven calendar days prior to, and during the 90-calendar-day period beginning on, the pricing date of such underwritten offering, except pursuant to such Demand Registration or Piggyback Registration or registrations on Form S-8 or S-4 or any successor form, or unless the underwriter(s) managing any such underwritten offering otherwise agree.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the Company completes an underwritten offering with respect to any Shares (whether offered for sale by the Company or any other Person) on a form and in a manner that would have permitted registration of the Shares as a Piggyback Registration pursuant to <u>Section</u> <u>3</u>, if a Holder did not request the inclusion of Shares in such Piggyback Registration (each such Holder, a "<u>Non-Participating Holder</u>"), and if, pursuant to <u>Section 3</u>, the Company gave such Non-Participating Holder at least 20 calendar days' prior written notice of the approximate date on which such offering was expected to be commenced, the Non-Participating Holder shall not effect any public sales or distributions of equity securities of the Company, or any securities convertible into or exchangeable or exercisable for such securities, until the termination of the holdback period required from the Company by any underwriter(s) in connection with such underwritten offering; <u>provided</u> that the holdback period applicable to any Non-Participating Holder pursuant to this <u>Section 4.5(b)</u> shall (i) in no event be longer than a period of seven calendar days prior to, and during the 90-calendar-day period beginning on, the pricing date of such underwritten offering, (ii) not apply to any Divestment or Other Disposition under the Separation Agreement, and (iii) not apply unless all directors and executive officers of the Company and holders of 5% or more of the Company's outstanding voting securities (other than any Holders) are subject to substantially comparable restrictions as those proposed to be imposed on the Non-Participating Holder.

Section 5. <u>Preparation; Reasonable Investigation.</u> In connection with the preparation and filing of each registration statement registering the Shares under the Securities Act and each sale of the Shares thereunder, the Company will give each Selling Holder and the underwriter(s), if any, and their respective counsel and accountants representing such Selling Holders and underwriter(s), access to its reasonably requested financial and other records, pertinent corporate documents and properties of the Company, and such opportunities to discuss the business of the Company with its officers and the independent public accountants who have

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certified its financial statements as shall be necessary, in the opinion of the Selling Holders and such underwriter(s) or such counsel, to conduct a reasonable investigation within the meaning of the Securities Act; <u>provided</u> that each Selling Holder agrees that the information obtained by it pursuant to this <u>Section 5</u> shall be kept confidential by it and, except as required by law, not disclosed by it, in each case, unless and until such information is made generally available to the public other than by such Selling Holder, and each Selling Holder further agrees that it will, upon learning that disclosure of such information is sought in a court of competent jurisdiction, promptly give notice to the Company and allow the Company, at the Company's expense, to undertake appropriate action to prevent disclosure of the information deemed confidential; <u>provided further</u> that for purposes of this <u>Section 5</u>, all members of the Medtronic Group shall be treated as a single Selling Holder.

Section 6. <u>Indemnification and Contribution.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the event of any registration of any of the Shares hereunder, the Company agrees to indemnify and hold harmless each of the Selling Holders, each of their respective directors, officers, employees, advisors, and agents, each Person who participates as an underwriter in the offering or sale of such securities, each director, officer, employee, advisor, and agent of each underwriter, and each Person, if any, who controls each such Selling Holder or any such underwriter within the meaning of the Securities Act (collectively, the "<u>Holder Covered</u> <u>Persons</u>") against any losses, claims, damages, liabilities, and expenses, joint or several, to which such Person may be subject under the Securities Act or otherwise insofar as such losses, claims, damages, liabilities, or expenses (or actions or proceedings in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of a material fact contained in any related registration statement filed under the Securities Act, any preliminary prospectus or final prospectus included therein, or any amendment or supplement thereto, or any document incorporated by reference therein, or (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading (in the case of any prospectus, in light of the circumstances under which they were made), and the Company will reimburse each such Holder Covered Person, as incurred, for any legal or any other expenses reasonably incurred by such Holder Covered Person in connection with investigating or defending any such loss, claim, liability, action, or proceeding; <u>provided</u>, <u>however</u>, that the Company shall not be liable in any such case to the extent that any such loss, claim, damage, liability, or expense (or action or proceeding in respect thereof) arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement, any such preliminary prospectus or final prospectus, or any amendment or supplement thereto in reliance upon and in conformity with written information furnished to the Company by such Selling Holder or such underwriter specifically for use in the preparation thereof. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of any such Holder Covered Person and shall survive the transfer of such securities by the Selling Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each of the Selling Holders, by virtue of exercising its respective registration rights hereunder, agrees to indemnify and hold harmless (in the same manner and to the same extent as set forth in <u>Section 6(a)</u>) the Company, its directors, officers, employees, advisors, and agents, each Person who participates as an underwriter in the offering or sale of such securities,

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each director, officer, employee, advisor, and agent of each underwriter, and each Person, if any, who controls the Company or any such underwriter within the meaning of the Securities Act or the Exchange Act (collectively, the "<u>Company Covered Persons</u>"), with respect to any statement in or omission from such registration statement, any preliminary prospectus or final prospectus included therein, or any amendment or supplement thereto, if such statement or omission is contained in written information furnished by such Selling Holder to the Company specifically for inclusion in such registration statement or prospectus; <u>provided</u>, <u>however</u>, that the obligation for each Selling Holder to indemnify shall be several and not joint, and shall be limited to the net amount of proceeds received by such Selling Holder from the sale of Shares pursuant to such registration statement. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of any Company Covered Person and shall survive the transfer of the registered securities by the Selling Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any Person entitled to indemnification hereunder (each, an "<u>Indemnified</u> <u>Party</u>") shall (i) give prompt written notice to the Person against whom such indemnity may be sought (the "<u>Indemnifying Party</u>") of any claim with respect to which it seeks indemnification; <u>provided</u>, <u>however</u>, that the failure to give prompt notice shall not impair any Indemnified Party's rights to indemnification hereunder to the extent such failure has not materially prejudiced the Indemnifying Party; and (ii) unless in such Indemnified Party's reasonable judgment a conflict of interest between such Indemnified Party and Indemnifying Party may exist with respect to such claim, permit such Indemnifying Party to assume the defense of such claim with counsel reasonably satisfactory to the Indemnified Party. For any such claim, any Indemnified Party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party unless (i) the Indemnifying Party and the Indemnified Party shall have mutually agreed to the retention of such counsel, (ii) in the reasonable judgment of such Indemnified Party, representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them, including one or more defenses or counterclaims that are different from or in addition to those available to the Indemnifying Party, or (iii) such Indemnifying Party shall have failed to assume the defense within a reasonable time of notice pursuant to this <u>Section 6(c)</u>. If such defense is assumed by the Indemnifying Party, no Indemnified Party will consent to entry of any judgment or enter into any settlement without the Indemnifying Party's written consent to such judgment or settlement (but such consent shall not be unreasonably withheld, conditioned, or delayed). No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such settlement (i) includes an unconditional release of such Indemnified Party from all liability arising out of such proceeding and (ii) does not include any injunctive or other equitable or non-monetary relief applicable to or affecting such Indemnified Party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If for any reason the indemnification pursuant to this <u>Section 6</u> is unavailable to an Indemnified Party or insufficient to hold it harmless as contemplated by this <u>Section 6</u>, then the Indemnifying Party shall contribute to the amount paid or payable by the Indemnified Party as a result of such losses, claims, damages, liabilities, or expenses (or actions or proceedings in respect thereof) in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party on one hand and the Indemnified Party on the other hand. The relative fault

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shall be determined by reference to, among other things, whether the untrue or alleged untrue statement or the omission or alleged omission to state a material fact relates to information supplied by the Indemnifying Party or the Indemnified Party and the parties' relative intent, knowledge, access to information, and opportunity to correct or prevent such untrue statement or omission; <u>provided</u>, <u>however</u>, that, in any such case: (i) no Indemnifying Party (other than the Company) will be required to contribute any amount in excess of the amount by which the net proceeds received by such Indemnifying Party from the sale of Shares in the offering to which the losses, claims, damages, liabilities, or expenses (or actions or proceedings in respect thereof) of the Indemnified Party relate and (ii) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. The parties hereto agree that it would not be just and equitable if the contribution pursuant to this <u>Section 6(d)</u> were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in this <u>Section 6(d)</u>. The amount paid or payable by an Indemnified Party hereunder shall be deemed to include, for purposes of this <u>Section 6(d)</u>, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating, preparing to defend, defending against, or appearing as a third-party witness in respect of, or otherwise incurred in connection with, any such losses, claims, damages, liabilities, or expenses (or actions or proceedings in respect thereof). If indemnification is available under this <u>Section 6</u>, the Indemnifying Parties shall indemnify each Indemnified Party to the full extent provided in <u>Section 6(a)</u> and <u>Section 6(b)</u> hereof without regard to the relative fault of said Indemnifying Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "<u>Person</u>" means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization, and a governmental entity, or any department, agency, or political subdivision thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The rights and obligations of the Company and the Selling Holders under this <u>Section 6</u> shall survive the termination of this Agreement.

Section 7. <u>Benefits and Termination of Registration Rights.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Holders may exercise the registration rights granted hereunder in such manner and proportions as they shall agree among themselves. The registration rights hereunder shall cease to apply to any particular Shares and such securities shall cease to be Shares when: (i) a registration statement with respect to the sale of such Shares shall have become effective under the Securities Act and such Shares shall have been disposed of in accordance with such registration statement; (ii) (x) as to Medtronic, any other member of the Medtronic Group, or any Holder who acquires from any member or members of the Medtronic Group at least 5% of the number of shares of Common Stock directly or indirectly owned by Medtronic immediately following the Separation Closing, such Shares shall have been sold to the public pursuant to Rule 144 and (y) as to any other Holder not enumerated in the immediately preceding clause (x), such Shares may be sold to the public pursuant to Rule 144 without being subject to the volume or manner of sale limitations of such rule; (iii) such Shares shall have been otherwise transferred, new certificates for them not bearing a legend restricting further transfer shall have been delivered by the Company (if applicable), and subsequent public distribution of them shall not

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require registration or qualification of them under the Securities Act or any similar state law then in force; or (iv) such Shares shall have ceased to be outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If any Shares are held in non-certificated book-entry form and are subject to any stop transfer or similar instructions or restrictions, the Company shall, at the request of the applicable Holder, promptly cause such stop transfer or similar instructions or restrictions to be promptly terminated and removed if (i) such Shares are registered for resale under the Securities Act or (ii) the applicable Holder provides the Company with reasonable assurance that such Shares can be sold, assigned, or transferred pursuant to Rule 144 or otherwise without registration under the applicable requirements of the Securities Act, including, if requested by the Company, an opinion of outside legal counsel, reasonably acceptable to the Company, to such effect. Following the effective date of any Registration Statement pursuant to which Shares are registered for resale, the Company shall cause any stop transfer or similar instructions or restrictions relating to such Shares to be terminated and removed.

Section 8. <u>Registration Expenses.</u> As used in this Agreement, the term "<u>Registration Expenses</u>" means all expenses incident to the Company's performance of or compliance with the registration requirements set forth in this Agreement, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the fees, disbursements, and expenses of the Company's counsel and accountants in connection with the registration of the Shares to be disposed of;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all expenses in connection with the preparation, printing, and filing of the registration statement, any preliminary prospectus or final prospectus, any other offering document, and amendments and supplements thereto, and the mailing and delivering of copies thereof to the underwriter(s);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the cost of printing and producing any agreements among underwriters, any underwriting agreements, any blue sky or legal investment memoranda, any selling agreements, and any amendments thereto or other documents in connection with the offering, sale, or delivery of the Shares to be disposed of;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) all registration, qualification, and filing fees, including the filing fees incident to securing any required review by the Nasdaq Stock Market, and any other securities exchange on which the Common Stock is then traded or listed, of the terms of the sale of the Shares to be disposed of and the trading or listing of all such Shares on each such exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) all expenses in connection with the qualification of the Shares to be disposed of for offering and sale under state securities laws, including the fees and disbursements of counsel for the underwriter(s) in connection with such qualification and in connection with any blue sky and legal investment surveys;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) all expenses and application fees incurred in connection with any filing with, and clearance of an offering by the Financial Industry Regulatory Authority;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) internal expenses of the Company (including all salaries and expenses of its officers and employees performing legal or accounting duties);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) expenses incurred in connection with any road show presentation to potential investors;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the costs of preparing stock certificates (if any);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) the costs and charges of the Company's transfer agent and registrar; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) the fees and disbursements of any custodians or agents.

Registration Expenses shall not include (i) underwriting discounts and underwriting commissions attributable to the Shares being registered for sale on behalf of the Selling Holders, which shall be paid by the Selling Holders, (ii) stock transfer taxes, which shall be paid by the Selling Holders, and (iii) the fees, disbursements, and expenses of the Selling Holders' counsel and accountants in connection with the registration of the Shares to be disposed of under the Securities Act.

Section 9. <u>Miscellaneous.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 <u>Ownership Reporting.</u> The Company agrees that it will provide assistance to the Medtronic Group in connection with the filing of beneficial ownership reports on Schedule 13D or Schedule 13G (or any successor form) or any amendment thereto pursuant to Rule 13d-1 under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 <u>Nominees for Beneficial Owners.</u> If Shares are held by a nominee for the beneficial owner thereof, the beneficial owner thereof may, at its option, be treated as the Holder of such Shares for purposes of any request or other action by any Holder pursuant to this Agreement (or any determination of any number or percentage of shares constituting Shares held by any Holder contemplated by this Agreement); <u>provided</u> that the Company shall have received assurances reasonably satisfactory to it of such beneficial ownership.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 <u>Counterparts.</u> This Agreement may be executed in one or more counterparts, all of which counterparts shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each party and delivered to the other party. This Agreement may be executed by facsimile or PDF signature and a facsimile or PDF signature shall constitute an original for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 <u>Entire Agreement.</u> This Agreement, the Separation Agreement, all the other Ancillary Agreements (as defined in the Separation Agreement), and all other exhibits and schedules attached hereto and thereto contain the entire agreement between the parties with respect to the subject matter hereof and thereof and supersede all previous agreements, negotiations, discussions, writings, understandings, commitments, and conversations with respect to such subject matter, and there are no agreements or understandings between the parties with respect to the subject matter hereof other than those set forth or referred to herein or therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 <u>Authority.</u> Each of the parties hereto represents to the other that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) it has the requisite corporate or other power and authority and has taken all corporate or other action necessary in order to execute, deliver, and perform this Agreement and to consummate the transactions contemplated herein; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) this Agreement has been duly executed and delivered by it and constitutes, or will constitute, a valid and binding agreement of it enforceable in accordance with the terms thereof; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) this Agreement is a legal, valid, and binding obligation, enforceable against it in accordance with its terms subject to applicable bankruptcy, insolvency, reorganization, moratorium, or other similar laws affecting creditors' rights generally and general equity principles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 <u>Governing Law; Dispute Resolution; Jurisdiction.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Unless otherwise set forth in this Agreement, in the event of any dispute arising under this Agreement between the parties (a "<u>Dispute</u>"), either party may refer such Dispute to the respective senior officers of such parties by delivering written notice of such Dispute to the other party (a "<u>Negotiation Notice</u>"). Upon delivery of a Negotiation Notice, each party shall attempt in good faith to resolve such Dispute by negotiation among their respective senior officers who hold, at a minimum, the title of Vice President at Medtronic or Vice President at the Company and who have authority to settle such Dispute (the "<u>Senior Negotiation</u>"). Notwithstanding the foregoing, the parties may mutually agree in writing to waive the Senior Negotiation and proceed directly to the Mediation Process pursuant to <u>Section 9.6(c)</u> or, if both parties so agree in writing, to waive both the Senior Negotiation and the Mediation Process (as defined in <u>Section 9.6(c)</u>) and proceed directly to litigation pursuant to <u>Section</u> <u>9.6(e)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the parties are unable to resolve any Dispute within 30 calendar days of the delivery of a Negotiation Notice, then either party shall have the right to initiate non-binding mediation (the "<u>Mediation Process</u>") by delivering written notice to the other party (a "<u>Mediation</u> <u>Notice</u>"). Upon delivery of a Mediation Notice, the applicable Dispute shall be promptly submitted for non-binding mediation conducted, and the parties shall participate in such mediation in good faith for a period of 30 calendar days or such longer period as the parties may mutually agree in writing (the "<u>Mediation Period</u>"). Notwithstanding the foregoing, the parties may mutually agree in writing to waive the Mediation Process and proceed directly to litigation pursuant to <u>Section 9.6(e)</u>. In connection with such mediation, the parties shall cooperate with each other in selecting a neutral mediator with relevant industry experience and in scheduling the mediation proceedings. The parties agree to bear equally the costs of any mediation, including any fees or expenses of the applicable mediator; <u>provided</u> that each party shall bear its own costs in connection with participating in such mediation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) For the avoidance of doubt, any negotiations or mediation conducted in accordance with <u>Section 9.6(b)</u> or <u>Section 9.6(c)</u> shall be subject to Federal Rule of Civil Procedure 408 or any applicable state Law (as defined in the Separation Agreement) equivalent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If the parties are unable to resolve any Dispute via negotiation or mediation in accordance with <u>Section 9.6(b)</u> and <u>Section 9.6(c)</u>, then, following the Mediation Period, either party may commence litigation in a court of competent jurisdiction pursuant to <u>Section 9.6(e)</u>. For the avoidance of doubt, except as set forth in <u>Section 9.6(g)</u>, neither party may commence litigation with respect to a Dispute until and unless the parties first fail to resolve such Dispute via negotiation and mediation in accordance with <u>Section 9.6(b)</u> and <u>Section 9.6(c)</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Each party irrevocably consents to the exclusive jurisdiction, forum, and venue of the Court of Chancery of the State of Delaware or, if (and only if) the Court of Chancery of the State of Delaware finds it lacks subject matter jurisdiction, the federal court of the United States sitting in Delaware or, if (and only if) the federal court of the United States sitting in Delaware finds it lacks subject matter jurisdiction, the Superior Court of the State of Delaware, and appellate courts thereof, over any and all claims, disputes, controversies, or disagreements between the parties or any of their respective subsidiaries, affiliates, successors, and assigns under or related to this Agreement or any document executed pursuant to this Agreement or any of the transactions contemplated hereby or thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Notwithstanding anything in this Agreement to the contrary, a party may seek a temporary restraining order or a preliminary injunction from any court of competent jurisdiction, at any time, in order to prevent immediate and irreparable injury, loss, or damage on a provisional basis, pending the resolution of any dispute hereunder, including under <u>Section 9.6(b)</u> or <u>Section 9.6(c)</u> hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7 <u>Assignment.</u> This Agreement may not be assigned by any party hereto other than by Medtronic to a Permitted Transferee as provided for in <u>Section 2.5</u>. Notwithstanding the foregoing, Medtronic may assign this Agreement in connection with a merger transaction in which Medtronic is not the surviving entity, or the sale of all or substantially all of its assets; <u>provided</u>, <u>however</u>, that the assignee expressly assumes in writing all of the obligations of Medtronic under this Agreement, and Medtronic provides written notice and evidence of such assignment and assumption to the Company. No assignment permitted by this <u>Section 9.7</u> shall release the assigning party from liability for the full performance of its obligations under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8 <u>Third-Party Beneficiaries.</u> Except for the indemnification rights under this Agreement of any Holder Covered Person or Company Covered Person in their respective capacities as such, (a) the provisions of this Agreement are solely for the benefit of the parties hereto and are not intended to confer upon any Person except the parties hereto any rights or remedies hereunder and (b) there are no third-party beneficiaries of this Agreement and this Agreement shall not provide any third person with any remedy, claim, liability, reimbursement, cause of action, or other right in excess of those existing without reference to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9 <u>Notices.</u> All notices or other communications under this Agreement shall be in writing and shall be deemed to be duly given (a) when delivered in person, (b) on the date received, if sent by a nationally recognized delivery or courier service, or (c) upon the earlier of confirmed receipt or five calendar days after the date of mailing if sent by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

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| |
|:---|
| If to Medtronic, to: |
| Medtronic, Inc. |
| Medtronic Operational Headquarters |
| 710 Medtronic Parkway |
| Minneapolis, MN 55432 |
| Attention: General Counsel |

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| | |
|:---|:---|
| with a copy (which shall not constitute notice) to: | with a copy (which shall not constitute notice) to: |
| Cleary Gottlieb Steen & Hamilton LLP | Cleary Gottlieb Steen & Hamilton LLP |
| One Liberty Plaza | One Liberty Plaza |
| New York, NY 10006 | New York, NY 10006 |
| Attention: | Adam E. Fleisher |
|  | Kimberley R. Spoerri |
|  | Synne D. Chapman |
| Email: | afleisher@cgsh.com |
|  | kspoerri@cgsh.com |
|  | schapman@cgsh.com |
| If to the Company, to: | If to the Company, to: |
| MiniMed Group, Inc. | MiniMed Group, Inc. |
| 1800 Devonshire St. | 1800 Devonshire St. |
| Northridge, CA 91325 | Northridge, CA 91325 |
| Attention: Courtney Nelson Wills, General Counsel<br>Email:&nbsp;&nbsp;&nbsp;&nbsp;  | Attention: Courtney Nelson Wills, General Counsel<br>Email:&nbsp;&nbsp;&nbsp;&nbsp;  |

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Either party may, by notice to the other party, change the address to which such notices are to be given.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.10 <u>Severability.</u> If any provision of this Agreement or the application thereof to any Person or circumstance is determined by a court of competent jurisdiction to be invalid, void, or unenforceable, the remaining provisions hereof, or the application of such provision to Persons or circumstances or in jurisdictions other than those as to which it has been held invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired, or invalidated thereby, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to either party. Upon any such determination, any such provision, to the extent determined to be invalid, void, or unenforceable, shall be deemed replaced by a provision that such court determines is valid and enforceable and that comes closest to expressing the intention of the invalid, void, or unenforceable provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.11 <u>Waivers of Default.</u> No failure or delay of any party in exercising any right or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or power. Waiver by any party of any default by the other party of any provision of this Agreement shall not be deemed a waiver by the waiving party of any subsequent or other default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.12 <u>Specific Performance.</u> In the event of any actual or threatened default in, or breach of, any of the terms, conditions, and provisions of this Agreement, the affected party shall have the right to specific performance and injunctive or other equitable relief of its rights under this Agreement, in addition to any and all other rights and remedies at law or in equity, and all

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such rights and remedies shall be cumulative. The parties hereto agree that the remedies at law for any breach or threatened breach hereof, including monetary damages, are inadequate compensation for any loss and that any defense in any action for specific performance that a remedy at law would be adequate is waived. Any requirements for the securing or posting of any bond with such remedy are waived.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.13 <u>Amendments; Waivers.</u> No provisions of this Agreement shall be deemed amended, supplemented, or modified by any party, unless such amendment, supplement, or modification is in writing and signed by the authorized representative of each party, and no waiver of any provisions of this Agreement shall be effective unless in writing and signed by the authorized representative of the party sought to be bound by such waiver.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.14 <u>Interpretation.</u> The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. When a reference is made in this Agreement to an Article or a Section, such reference shall be to an Article or Section of this Agreement unless otherwise indicated. All references made herein to the Company as a party which operate as of the Separation Closing shall be deemed to refer to the Company and its subsidiaries as a single party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.15 <u>Waiver of Jury Trial</u>. EACH OF THE PARTIES ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH OF THE PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT. EACH OF THE PARTIES CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT, OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT, IN THE EVENT OF ANY LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH OF THE PARTIES UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH OF THE PARTIES MAKES THIS WAIVER VOLUNTARILY, AND (D) EACH OF THE PARTIES HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 9.15</u>.

[SIGNATURES ON FOLLOWING PAGE]

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of the date and year first written above.

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| | |
|:---|:---|
| MEDTRONIC PLC | MEDTRONIC PLC |
| By: | &nbsp;&nbsp;&nbsp;&nbsp;/s/ Brian Sandstrom |
| Name: | Brian Sandstrom |
| Title | Vice President and Assistant Secretary |

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| | |
|:---|:---|
| KANGAROO US HOLDCO 2, INC. | KANGAROO US HOLDCO 2, INC. |
| By | &nbsp;&nbsp;&nbsp;&nbsp;/s/ Chris Eso |
| Name: | Chris Eso |
| Title: | President |

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[*Signature Page to Registration Rights Agreement*]

## Exhibit 10.10

**Exhibit 10.10**

**LEASE AGREEMENT**

**(GROSS)**

THIS LEASE AGREEMENT (this "Lease"), dated March 1, 2026 (the "Effective Date"), is made by and between MINIMED PUERTO RICO OPERATIONS LLC ("Landlord"), and MEDTRONIC PUERTO RICO OPERATIONS CO. ("Tenant").

**RECITALS**

WHEREAS, Tenant previously owned and occupied that certain building, comprised of approximately 281,652 square feet (the "Building"), located on certain real property known as Road 31, Km. 24, Hm 4, Ceiba Norte Industrial Park, in Juncos, Puerto Rico, and more particularly described on <u>Exhibit A-1</u> attached hereto and incorporated herein by reference (the "Land");

WHEREAS, Landlord and Tenant have entered into certain transactions whereby Tenant or its Affiliate(s) transferred assets and liabilities of its diabetes business to Landlord or its Affiliate(s) (the "Separation"); and

WHEREAS, in connection with the Separation and concurrently herewith, Tenant has conveyed the Land and the Building (together, the "Property") to Landlord, and Landlord and Tenant intend to jointly occupy the Building pursuant to the terms and conditions of this Lease.

NOW, THEREFORE, in consideration of the mutual promises, covenants and conditions set forth below, and other valuable consideration, the receipt and sufficiency of which are hereby expressly acknowledged, Landlord and Tenant hereby agree as follows:

**AGREEMENT**

**Section 1. Premises; Common Areas**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions herein contained, Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, those areas within the Building labeled as "Medtronic Dedicated" on <u>Exhibit A-2</u> attached hereto and incorporated herein by reference (the "Premises"), containing approximately 53,400 rentable square feet in the aggregate. Tenant acknowledges and agrees that, subject to the ongoing obligations of maintenance and repair by Landlord as set forth herein, Tenant is accepting the Premises in its "AS IS" "WHERE IS" condition, and without any improvements and/or alterations to be constructed by Landlord.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Landlord hereby reserves exclusive use of those areas within the Building labeled as "MiniMed Dedicated" on <u>Exhibit A-2</u> attached hereto and incorporated herein by reference (the "Landlord Premises"), containing approximately 182,396 rentable square feet in the aggregate.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Tenant and its employees and invitees shall have the non-exclusive right to use, in common with Landlord, those portions of the Property that are labeled as "Shared Spaces" on <u>Exhibit A-2</u> attached hereto and incorporated herein by reference, including, without limitation, any lobbies, hallways, dock areas, loading docks, plazas, drive aisles, sidewalks, certain parking areas as described in this Lease, corridors, fire vestibules, elevators, foyers, electric and telephone closets, stairways, restrooms, breakrooms, mechanical rooms, janitorial closets, and other similar facilities located within such portions of the Property (collectively, the "Common Areas"). Landlord is responsible for the operation, management, and maintenance of the Common Areas, and the manner in which the Common Areas are operated, managed and maintained shall be reasonably consistent with that of other buildings in Juncos, Puerto Rico, which buildings are comparable in quality of appearance, services, and amenities (the "Comparable Buildings"), and the use thereof shall be subject to such uniformly applied rules as Landlord and Tenant may mutually agree from time to time. Landlord reserves the right to temporarily close elements of the Common Areas in connection with Landlord's performance of its maintenance and repair obligations hereunder; <u>provided</u>, <u>however</u>, such closures shall not materially and adversely interfere with Tenant's use or occupancy of the Premises pursuant to the terms of this Lease, and Landlord shall ensure continued access to the Premises and use commercially reasonable efforts to minimize any interference with Tenant's use and occupancy of the Premises pursuant to the terms of this Lease during the period of such closure. Landlord shall have the right to construct new improvements or otherwise make modifications or alterations to the Common Areas or the Landlord Premises without the prior consent of Tenant; provided, that such improvements, modifications or alterations do not (i) materially reduce the size of the Common Areas or alter the intended purpose of the Common Areas (without providing suitable alternative space offering similar purposes of such Common Areas to be modified) or otherwise result in material changes to the use or utility of the Common Areas (including, without limitation, access thereto), (ii) result in changes to the structural or mechanical elements of the Building such that the Premises would be relocated or reduced or expanded in size, or the mechanical operations or utility services provided with respect to the Premises or the Common Areas would be diminished or changed in any way which would materially and adversely interfere with the quiet and comfortable enjoyment thereof, or (iii) result in any materially unreasonable interference with Tenant's use and occupancy of the Premises, including, as a result of limitations on access, increased noise, dust or vibrations, disruption of utility services, decreased safety or security conditions, or increased obligations or liabilities of Tenant on account thereof. Tenant shall have no right to perform any improvements, modifications, or alterations with respect to the Common Areas or the

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Premises, except as permitted in accordance with the terms and conditions of this Lease, including Section 11 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Tenant's and Landlord's use of parking areas comprising the Common Areas shall be subject to the following terms and conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Parking is available 24/7 at the Building. The remote solar parking area upon the Property is accessible from 4:30 a.m. to 11:00 p.m., Monday through Friday. Tenant shall bear all costs associated with any requests by Tenant to change the established parking schedule.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Vehicle access to the main parking area adjacent to the Building is controlled automatically through the use of employee badges to operate the entry gate, while access to the remote solar parking area upon the Property is managed by security personnel who verify car authorization stickers displayed on the windshield.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Tenant shall be assigned up to four hundred fifty (450) parking permits for use of the parking areas comprising the Common Areas. Requests for additional permits must be submitted in writing and will be subject to Landlord's discretion for approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;Other than those stalls that may be specifically marked as reserved (e.g., senior management, handicapped stalls and/or stalls reserved for expectant mothers), parking stalls within the parking areas comprising the Common Areas shall be used on an unreserved, first-come-first-serve basis.

No other parking rights are conferred upon Tenant with respect to the Land pursuant to this Lease.

**Section 2. Lease Term**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Landlord has delivered actual possession of the Premises to Tenant as of the Effective Date, and such shall be known herein as the "Commencement Date."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The term of this Lease shall be for ten (10) years (the "Lease Term"), beginning on the Commencement Date. The date that the Lease Term ends, whether on the last day thereof pursuant to the stated terms of this Lease or such earlier date as this Lease is terminated by its terms, including, without limitation, any exercise by Tenant of the Termination Right (as defined in Section 2(d) below), is referred to herein as the "Expiration Date."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;In the event that Tenant notifies Landlord at least one hundred eighty (180) days prior to the expiration of the Lease Term that Tenant desires to renew the Lease, Landlord and Tenant shall negotiate in good faith

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to determine whether mutually agreeable terms may be reached with respect to any such renewal. Nothing in this Section 2(c) shall require Landlord or Tenant to agree on a renewal of this Lease, and any terms negotiated with respect thereto are intended to be at arms-length.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in this Lease, Tenant shall have the right, in its sole and absolute discretion and without any fee or penalty, to terminate this Lease at any time during the Lease Term upon at least one (1) year prior written notice to Landlord (the "Termination Notice"), and the date specified in such Termination Notice as the termination date (the "Early Termination Date") shall thereafter be the Expiration Date of this Lease. Tenant shall remain subject to the terms and conditions of this Lease through the Early Termination Date.

**Section 3. Base Rent**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Commencing on the Commencement Date, Tenant shall pay monthly base rent ("Base Rent") of Three Hundred Thirty-Three Thousand Three Hundred Thirty-Three and 00/100 Dollars ($333,333) to Landlord for the Premises, payable on the first day of each calendar month during the Lease Term, provided, however, that with respect to the first month of the Lease Term, Tenant shall have a period of thirty (30) days following the Commencement Date to pay the Base Rent applicable to such month, subject to pro-ration in accordance with the following sentence, as applicable. If Tenant's obligation to pay Base Rent relates to only a part of a month at the beginning or the end of the Lease Term, Tenant shall pay Landlord a proportionate part of the applicable monthly installment for each such partial month, which shall be payable at the same time as the first or last (as applicable) monthly installment is due under this Lease. For each year following the first anniversary of the Commencement Date (each a "Lease Year"), the Base Rent payable during each month of each subsequent Lease Year during the Lease Term shall be an amount equal to the Base Rent payable per month in the Lease Year immediately preceding the current Lease Year multiplied by one hundred and three percent (103%).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Base Rent and all other amounts however occurring or described in this Lease as becoming due from Tenant to Landlord hereunder (collectively, "Rent") shall be paid in lawful money of the United States to Landlord at the address specified for Landlord herein, or in such other manner as may be specified by Landlord in writing in advance. The payment of Rent hereunder is independent of each and every other covenant and agreement contained in this Lease.

**Section 4. Gross Rent**. The Base Rent provided for herein is intended to be "gross rent," and Tenant shall not be required to make any separate payment or contribution to real estate taxes, utilities, repairs, improvements, or insurance related to the Property. It is intended between

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Landlord and Tenant that, except for any liabilities of Tenant hereunder on account of negligence or willful misconduct, the only amount payable by Tenant hereunder shall be Base Rent.

**Section 5. Use of Premises**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Tenant may use and occupy the Premises for manufacturing, assembly, production, storage, general office, and incidental purposes related thereto. Tenant must procure, at its sole expense, any permits and licenses required to conduct Tenant's business in the Premises and otherwise comply with all applicable laws pertaining to Tenant's business and its use of the Premises, as same may now or hereafter exist from time to time; provided, however, that Tenant shall not be required to incur any expense or to perform any additional construction, unless the need for such compliance or construction is solely caused by Tenant's manner of, or specific use of, the Premises for the conduct of Tenant's specific business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Tenant shall act in accordance with, and not violate, any restrictions or covenants of record as of the Commencement Date with respect to the Property. Except for Mortgages on the fee interest in the Property where Landlord has complied with the terms of Section 16 below, Landlord may hereafter encumber the Property only with Tenant's prior written consent, provided that such consent shall not be withheld, conditioned or delayed so long as the proposed encumbrance will not materially and adversely interfere with Tenant's use or occupancy of the Premises pursuant to the terms of this Lease. Tenant shall not use or occupy the Premises in violation of applicable laws or of the certificate of use or occupancy issued for the Building of which the Premises are a part and shall immediately discontinue any use of the Premises which is declared by any governmental authority having jurisdiction to be a violation of applicable laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Tenant shall not do nor permit to be done anything upon the Premises which will invalidate or increase the cost of any casualty or extended coverage insurance policy covering the Building and/or property located therein, and shall comply with all rules, orders, regulations and requirements of the appropriate Fire Rating Bureau or any other organization performing a similar function. Tenant shall not do nor permit anything to be done in, on or about the Premises which would materially and adversely obstruct or interfere with the rights of other occupants of the Building, including, Landlord, or use or allow the Premises to be used for any immoral or unlawful purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything in the Lease to the contrary, Tenant and its employees shall have access to the Premises and Common Areas, twenty-four (24) hours per day, seven (7) days per week, except that Tenant

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shall only have the right to use the remote solar parking area servicing the Property during designated operating hours.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided under that certain Transition Services Agreement dated on or about the date hereof, by and between Landlord and Tenant or their respective Affiliates (the "Transition Services Agreement"), or any other services agreement entered into between Landlord and Tenant or their respective Affiliates relative to the operation of their respective businesses at the Property, during the entirety of the Lease Term, Landlord and Tenant shall each procure any permits and licenses required to conduct their respective businesses and activities upon the Property, and shall otherwise comply with all applicable laws and regulations pertaining to its business and its use of the Property. Each of Landlord and Tenant shall be solely liable for any losses arising from such party's failure to procure required permits or otherwise comply with applicable laws and regulations in their respective use of the Property, including, without limitation, any Claims incurred by the other party as a result of any such failure, in accordance with the terms of Section 23 below. Pursuant to Tenant's business operations on the Property, Tenant undertakes or may undertake certain sterilization activities utilizing ethylene oxide ("EtO") including the delivery, use, processing, packaging, storage and disposal of EtO or Tenant's products that are processed with EtO ("Tenant EtO Activities"). Pursuant to Landlord's business operations on the Property, Landlord undertakes certain storage of products that have been sterilized with EtO and may engage in other activities involving EtO in the future ("Landlord EtO Activities"). For the sake of clarity, (i) Landlord shall have no responsibility in overseeing Tenant EtO Activities, Landlord's business operations on the Property do not in any way interact with Tenant EtO Activities, and Landlord accepts no responsibility for any Claims arising out of Tenant EtO Activities, and (ii) Tenant shall have no responsibility in overseeing Landlord EtO Activities, Tenant's business operations on the Property do not in any way interact with Landlord EtO Activities, and Tenant accepts no responsibility for any Claims arising out Landlord EtO Activities. Tenant shall be solely responsible for obtaining and maintaining any permits and complying with all laws as required for Tenant EtO Activities it undertakes on the Property and shall be solely liable for any losses or Claims Landlord incurs arising from such Tenant EtO Activities on the Property in accordance with the terms of Section 23 below. Landlord shall be solely responsible for obtaining and maintaining any permits and complying with all laws as required for Landlord EtO Activities it undertakes on the Property and shall be solely liable for any losses or Claims Tenant incurs arising from such Landlord EtO Activities on the Property in accordance with the terms of Section 23 below.

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**Section 6. Landlord Services**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Separate from any obligations of Landlord or Tenant in the Transition Services Agreement or any other services agreement entered into between Landlord and Tenant relative to the operation of their respective businesses at the Property, Landlord will provide all of the following utilities and services during the Lease Term, all in a manner no less than those provided for Comparable Buildings with a 'gross-rent' structure:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Electricity and water for the Premises, as reasonably necessary for the uses permitted under this Lease, except to the extent those utilities are separately metered or sub-metered to the Premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Heat and air-conditioning as reasonably necessary for Tenant's comfortable use and occupancy of the Premises twenty-four (24) hours a day, seven (7) days a week.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Hot water at those points of supply provided for the general use of Tenant and other tenants of the Building.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;General janitorial and cleaning services for the Premises and Common Areas, five (5) days per week, excluding federal holidays on which banks are closed, and including vacuuming, sweeping, dusting, trash removal, carpet cleaning, etc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;Light bulb replacement in the Common Areas.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp;Elevator service at all times, if the Building is equipped with elevator(s).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp;Exterior window cleaning for the Building, landscaping, and regular sweeping and prompt trash and debris removal for the parking areas and walkways serving the Building.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;&nbsp;&nbsp;Regular maintenance and servicing of lavatory facilities, toilets, sinks, and faucets located within the Premises and Common Areas, including soap, paper towels, and toilet tissue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;&nbsp;&nbsp;Electric power for lighting and outlets; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;Electrical and mechanical maintenance services during the normal business hours of the Building.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Landlord shall provide and maintain adequate connections for all public and other utilities and related services rendered or furnished to the Property. Landlord shall cause all utility lines and equipment, which are located in the Building (or on the Property) and are otherwise used in connection with providing utility service to the

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Premises, to be maintained in good repair and condition to the extent such utility lines and equipment are the property of the Landlord. Landlord shall not be liable to Tenant for any loss or damage occasioned by interruption of utility services; provided, however (i) Landlord shall be obligated to use commercially reasonable efforts to obtain the resumption of such utility services as quickly as is reasonably possible (unless such interruption of service was caused by the utility provider or Tenant's failure to pay utility providers or the willful misconduct or the negligence of Tenant, Tenant's employees, agents, contractors or anyone acting by, through or under Tenant), and (ii) if any utility service is interrupted as a result of acts or omissions of Landlord, its agents, employees or contractors, leading to material and adverse impact on Tenant operations, then without limiting any other right or remedy of Tenant pursuant to Section 15(c) below, there shall be an equitable abatement of Base Rent based upon the length of time during which such interruption continues, and the portion of the Premises that are unusable as a result of such interruption. Without limiting the foregoing, in the event that utility service is interrupted for any reason (regardless of cause), such interruption lasts more than seven (7) continuous days, and the Premises are unusable as a result of such interruption, Tenant shall have the right to terminate this Lease upon one hundred eighty (180) days' prior written notice to Landlord if utility service is not restored prior to the date of termination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Other than those services provided by Landlord pursuant to the terms of this Section 6, Tenant shall provide all services necessary or desirable for its use of the Premises, including, but not limited to, telecommunication and data transmission services. All services obtained by Tenant with respect to the Premises shall be subject to Landlord's prior written approval, which shall include approval of any proposed third-party vendors requiring access to the Property; provided, however, that Landlord's approval shall not be unreasonably withheld, conditioned or delayed.

In the event that Landlord is prohibited from providing the services required by this Section 6 on account of a casualty event or such other circumstance outside the reasonable control of Landlord, wherein such services are only partially available to the Property (e.g., diminished electricity voltage or rolling blackouts), Landlord and Tenant shall work together in good faith to ensure that available services are equitably provided to both the Premises and the Landlord Premises, or in such other manner as may be mutually agreed between Landlord and Tenant. Landlord and Tenant shall work together in good faith to take such precautions and/or remedial measures as are reasonably necessary to minimize any disruptions to the operations of Landlord and Tenant at the Property on account of any casualty event (including, without limitation, any hurricanes that may be forecasted with reasonable probability to affect the Property), and any disruptions shall be reasonably apportioned between Landlord and Tenant in an equitable manner where feasible under the circumstances. Upon twenty-four (24) hours prior notice to Landlord, Tenant shall have the right to review (which may include obtaining copies) any security camera footage maintained by Landlord with respect to the Building or the Property where Tenant has a reasonable basis for requesting such security camera footage; provided, however, that Landlord shall have no obligation to install or maintain

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security cameras upon the Property or within the Building, and Landlord shall have no obligation to retain security camera footage beyond the period customarily retained by Landlord.

**Section 7. Utilities**. All utility costs attributable to Tenant's use and occupancy of the Premises are included in the amount of Base Rent payable by Tenant hereunder. Neither Landlord nor Tenant shall overload the electrical wiring serving the Building, nor shall their respective use of utility services exceed the capacity of the feeders, pipes, wiring, conduits, and risers servicing the Building that are in place as of the Effective Date (subject to repair and replacement as required). Tenant shall install at its own expense, but only after obtaining Landlord's written approval, any additional electrical wiring which may be required in connection with Tenant's use of the Premises for the uses permitted hereunder. Notwithstanding the foregoing, if Landlord's electricity usage at the Property is unreasonably disproportionate to Tenant's electricity usage at the Property, taking into account such factors as occupied square footage, and the quantity and electrical draw of equipment operated, then any additional wiring required to continue Tenant's use of the Premises in material conformance with the electricity historically used by Tenant prior to the Commencement Date shall be the sole cost of Landlord. It is the intention of the parties that neither Landlord nor Tenant shall consume a disproportionate amount of electricity at the Property which would require the other to materially reduce their electrical draw or otherwise incur costs of installing new electrical wiring. Any new wiring required as a result of disproportionate consumption should be at the sole cost of the party causing such disproportionate consumption. If Tenant desires to use heat, ventilation or air conditioning during hours other than normal business hours, Tenant shall give Landlord such prior notice, if any, as Landlord shall from time to time establish as appropriate, of Tenant's desired use in order to supply such utilities, and Landlord shall supply such utilities to Tenant without additional cost or expense to Tenant.

**Section 8. Condition and Care of Property**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Landlord and Tenant shall cause their respective use (to include use by their respective employees, agents, and invitees) of the Common Areas to be clean, orderly, and respectful of the non-exclusive rights of others with respect to such areas.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section 8(c) below, Landlord shall, at its sole cost and expense and without contribution by Tenant, (i) remedy any latent defects materially impacting Tenant's operations relating to the Property, (ii) maintain in good condition and working order, including repair or replacement, all structural and mechanical elements of the entire Building (including, the exterior walls and windows, roof (including, the roof membrane, gutters and flashing), foundation, support columns, and similar elements of the Building, and the ventilation, air conditioning, electrical, plumbing, sprinkler, and life safety systems of the Building), and (iii) maintain in good condition and working order, including repair or replacement, all non-structural improvements located within the Common Areas (including, but not limited to, all windows, plate glass or similar breakable materials, doors and locks, plumbing fixtures, lamps, bulbs and ballasts, finishes, wall coverings, carpets, and floor coverings); provided, that any repairs

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necessitated by damage caused by the negligence or willful misconduct of Tenant, its agents, employees, or contractors, shall be the sole responsibility of Tenant, payable upon demand by Landlord as additional rent. If Landlord fails to make any such repairs within forty-five (45) days after receipt by Landlord of such written notice (or if more than forty-five (45) days is required because of the nature of the repairs, if Landlord fails to commence the repairs within the 45-day period and proceed diligently thereafter), then in that event Landlord will be responsible to Tenant for any and all actual damages sustained by Tenant as a result of Landlord's breach, subject to Tenant's good faith efforts to mitigate actual damages. Notwithstanding the foregoing, with respect to Landlord's obligation to remedy any latent defects in existence at the Property prior to the Commencement Date, the parties will jointly agree to mutually acceptable timelines for completion of these pre-Commencement Date defects to the extent they do not materially interfere with Tenant's business operations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Tenant shall use the Premises in a responsible and considerate manner, acting as a good steward of the space and taking reasonable steps to) maintain all non-structural improvements located within the Premises (including, but not limited to, all windows, plate glass or similar breakable materials, doors and locks, plumbing fixtures, lamps, bulbs and ballasts, as needed, finishes, wall coverings, carpets, and floor coverings) in good condition and repair, subject to ordinary wear and tear and damage by fire or act of God. Notwithstanding the foregoing, Landlord shall be solely responsible for the regular cleaning and janitorial maintenance of the Premises, including, but not limited to, sweeping, mopping, trash removal, and other routine cleaning tasks. Tenant shall promptly notify the Landlord of any condition requiring cleaning or maintenance beyond ordinary use.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Each of Landlord and Tenant shall diligently complete any maintenance required of such party in a good, workmanlike manner, and shall take all necessary precautions to minimize any disruption to the other's business operations at the Property. Landlord shall have the right, in its reasonable discretion, to approve or reject any contractors or workers proposed to be retained by Tenant to perform any maintenance which involves structural or mechanical elements of the Building, and Tenant shall not permit any contractors or workers to commence such work without the prior written approval of Landlord.

**Section 9. Return of Premises**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;At the expiration or earlier termination of this Lease in accordance with its terms, Tenant shall, at Tenant's sole cost and expense and subject to the requirements of Section 9(b) below, remove all of Tenant's personal property, and repair all injury done by or in connection with the installation or removal of such property, and surrender the Premises, broom clean and in as good condition as they were upon the Commencement Date, together with any improvements or alterations made to the Premises with the consent of Landlord (excluding any improvements or alterations approved by

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Landlord on the condition that they be removed by Tenant at the expiration or earlier termination of the Lease), reasonable wear and tear, and damage resulting from casualty or condemnation excepted. All property of Tenant remaining at the Premises after the expiration or earlier termination of this Lease shall be conclusively deemed abandoned and, at Landlord's option, may be retained by Landlord or may be removed by Landlord, and Tenant shall reimburse Landlord for the reasonable cost of such removal plus an administrative markup of twenty percent (20%). Landlord may have any such property stored at Tenant's risk and expense plus an administrative markup of twenty percent (20%). It is understood and agreed between Landlord and Tenant that Landlord acquired the Property on the Commencement Date after having performed any due diligence that Landlord deemed necessary or appropriate for such purpose, and Tenant shall have no obligation to repair, restore or otherwise improve the Property beyond the condition which existed as of the Commencement Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing in this Section 9, with respect to Tenant's obligation to clean and restore the clean room areas and/or the controlled environment areas (hereinafter, being referred to as "CEA") on the Premises, upon termination or earlier expiration of the Lease, Tenant shall cause, in addition to the above obligations in this Section 9, such CEA's to be brought into compliance with the standards of the work instruction: *Environmental Control*, MPR_PPC_WI009932.

**Section 10. Holding Over**. If Tenant remains in possession of all or any part of the Premises after the expiration of the Lease Term or the earlier termination of the Lease, such

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tenancy shall be from month-to-month only, and not a renewal hereof or an extension for any further term, and in such event, Base Rent due hereunder shall be payable in an amount equal to 125% of the monthly installment of Base Rent paid during the last month of the Lease Term of this Lease (the "Holdover Rent").

**Section 11. Alterations**. Tenant may not make any changes, alterations, improvements, or additions to the Premises or attach or affix any articles thereto without Landlord's prior written consent, which consent Landlord shall not unreasonably withhold, condition, or delay. All alterations, additions, or improvements which may be made upon the Premises by Landlord or Tenant (except unattached trade fixtures and office furniture and equipment owned by Tenant) shall not be removed by Tenant but shall become and remain the property of Landlord. All alterations, improvements, and additions to the Premises (as permitted by Landlord) shall be done only by Landlord or contractors or mechanics approved by Landlord and shall be at Tenant's sole expense and at such times and in such manner as Landlord may reasonably approve. If Tenant shall make any alterations, improvements or additions to the Premises, Landlord may require Tenant, at the expiration of this Lease, to restore the Premises to substantially the same condition as existed on the Commencement Date, provided that Landlord notified Tenant that it would require Tenant to remove such alterations, improvements or additions upon the expiration of the Lease at the time Tenant requested Landlord's consent for same. Any mechanic's or materialmen's lien for which Landlord has received a notice of intent to file or which has been filed against the Property arising out of work done for, or materials furnished to or on behalf of Tenant, its contractors or subcontractors shall be discharged, bonded over, or otherwise satisfied by Tenant within thirty (30) days following the earlier of the date Landlord receives (a) notice of intent to file a lien or (b) notice that the lien has been filed. If Tenant fails to discharge, bond over, or otherwise satisfy any such lien, Landlord may do so at Tenant's expense, and the amount expended by Landlord, including reasonable attorneys' fees, shall be paid by Tenant within ten (10) days following Tenant's receipt of a bill from Landlord. Notwithstanding the foregoing, Landlord's consent shall not be required for any alteration that satisfies all of the following criteria (each, a "Cosmetic Alteration"): (i) is of a purely cosmetic nature such as painting, wallpapering, hanging pictures and installing carpeting; (ii) is not visible from the exterior of the Building; (iii) will not affect the systems or structure of the Building; and (iv) does not require work to be performed inside the walls or above the ceiling or below the floor of the Premises.

**Section 12.** &nbsp;&nbsp;&nbsp;&nbsp;**Assignment and Subletting**. Other than with respect to Landlord's rights pursuant to Section 21 and Section 24 of this Lease and subject to the terms and conditions contained therein, neither Landlord nor Tenant shall have the right to assign (or, as pertains to Tenant, sublease) this Lease, nor shall Landlord lease or license space within the Building to any third party, without obtaining the prior written consent of the other party, which consent shall not be unreasonably withheld, conditioned or delayed. Any assignment, sublease by Tenant, license, or lease made otherwise than as expressly permitted by this Section 12 shall be void.

**Section 13.** &nbsp;&nbsp;&nbsp;&nbsp;**Damage or Destruction by Casualty**. If the Building or the Premises are destroyed or damaged by any casualty to the extent that, in Landlord's reasonable opinion the damage cannot be restored within one hundred eighty (180) days, either Landlord or Tenant shall

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have the right to terminate this Lease by written notice to the other within thirty (30) days following the occurrence of such damage or destruction, and upon such termination Base Rent shall be accounted for as between Landlord and Tenant as of the date of termination and this Lease shall terminate without fee or penalty and without further obligation of either party; provided, however, that Tenant and Landlord shall remain liable for any liabilities or obligations accrued through the date of termination (or which otherwise expressly survive expiration or termination of the Lease pursuant to the terms hereof). If the Building or the Premises are damaged but neither Landlord nor Tenant is entitled to or does not terminate this Lease as provided in the foregoing provisions of this Section 13, this Lease shall remain in full force and effect, Landlord shall notify Tenant in writing within thirty (30) days of the date that the damage will be restored (and will include Landlord's good faith estimate of the date the restoration will be complete), in which case Base Rent shall abate during the period of restoration in the proportion that any portion of the Premises is not usable (and which Tenant does not use), and Landlord shall restore the Premises or the Building, as case may be, to substantially the same condition as before the damage occurred as soon as practicable. Notwithstanding anything to the contrary contained herein, Landlord shall have no obligation to restore any item that is Tenant's responsibility to insure under this Lease (including, without limitation, any alteration or improvement performed in the Premises by Tenant), regardless of whether Tenant insures same, or fails to maintain insurance with respect to same. Tenant shall bear the responsibility for prompt restoration of all such items.

**Section 14. Eminent Domain**. If the whole of the Building or Premises, or such portion thereof as will make the Building or Premises unusable in the reasonable judgment of Landlord for their intended purposes, is condemned or taken by any governmental authority for any public use or purpose, then in either of said events, Landlord or Tenant may terminate this Lease by written notice to the other within thirty (30) days following the occurrence of such taking (or notice thereof), and the Lease Term hereby granted shall cease from that time when possession thereof is taken by the condemning authorities, and upon such date when possession is taken by the condemning authorities, Base Rent shall be accounted for as between Landlord and Tenant as of such date and this Lease shall terminate without fee or penalty and without further obligation of either party; provided, however, that Tenant and Landlord shall remain liable for any liabilities or obligations accrued through the date of termination (or which otherwise expressly survive expiration or termination of the Lease pursuant to the terms hereof). If a portion of the Building or Premises is so taken and this Lease is not terminated pursuant to the immediately preceding sentence, Landlord shall restore the Building or Premises, as case may be, that remains to an architecturally sound and usable unit, this Lease shall continue in full force and effect and the Base Rent due hereunder shall be reduced pro rata in proportion to the amount of the Premises, if any, so taken. Tenant shall have no right or claim to any part of any award made to, or received by, Landlord for such condemnation or taking, and all awards for such condemnation or taking shall be made solely to Landlord. Tenant shall, however, have the right to pursue any separate award that does not reduce the award to which Landlord is entitled.

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**Section 15. Event of Default; Landlord's Rights and Remedies.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Tenant fails to make any payment of Base Rent The following events will be deemed to be an event of default ("Event of Default") by Tenant under this Lease:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;or any other amounts payable by Tenant under this Lease, except as otherwise allowed herein, when due under this Lease and such failure continues uncured for a period of ten (10) days after written notice of such default has been given by Landlord to Tenant; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Tenant shall violate or fail in the performance of any covenants, agreements, stipulations or other conditions contained herein (other than the payment of Base Rent) and such violation or failure continues for a period of thirty (30) days after written notice of such default has been given by Landlord to Tenant or, in the case of a default not curable within thirty (30) days, if Tenant shall fail to commence to cure the same within thirty (30) days and thereafter proceed diligently to complete the cure thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If Tenant fails to cure any Event of Default and while such Event of Default remains uncured, Landlord, at its option, may pursue any rights or remedies, at law or in equity, available to Landlord, including the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;Landlord may give a written termination notice to Tenant specifying a date on which this Lease shall terminate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Whether or not Landlord terminates this Lease pursuant to this Section 15, Landlord may at its option, but subject to applicable law, enter into and repossess the Premises or any part thereof, remove Tenant's signs and other evidence of tenancy, and take and hold possession thereof. If Landlord does not terminate this Lease pursuant to this Section 15, entry and repossession by Landlord shall not terminate this Lease or release Tenant, in whole or in part, from any obligations under this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Landlord may at its option, whether Landlord terminates this Lease pursuant to this Section 15, relet the Premises or any part thereof upon such terms, Rent and conditions acceptable to Landlord in its sole discretion. Landlord may make necessary repairs, alterations and additions to the Premises and redecorate the same to the extent Landlord deems reasonably necessary. If Landlord does not terminate this Lease pursuant to this Section, reletting of the Premises by Landlord shall not terminate this Lease or release Tenant, in whole or in part, from any obligations under this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;If Landlord maintains the Lease in effect without termination, Tenant shall pay to Landlord the total of: (A) the Base Rent and other costs that would be payable under this Lease by Tenant until the end of the Lease Term; plus (B) all reasonable costs directly or indirectly incurred by Landlord relating to

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Tenant's Event of Default and Landlord's repossession and reletting of the Premises, including brokerage commissions, reasonable attorneys' fees and costs, collection costs, and alteration, repair and remodeling costs and expenses to prepare the Premises for reletting (but excluding any lease inducement or tenant allowance amounts); less (C) the rent received by Landlord, if any, from any reletting, pursuant to Landlord's duty to mitigate damages. Tenant will pay damages monthly on the day Base Rent is payable under this Lease, and Landlord shall be entitled to recover the same from Tenant on each such day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;Landlord shall have a duty to mitigate its damages, and its damage recovery shall be reduced accordingly for actual mitigation (such as receipts of rent for re-letting) or Landlord's failure to mitigate its damages. Notwithstanding anything else set forth in this Lease, Landlord waives any right it may have as a result of Tenant's Event of Default (a) to accelerate the Base Rent due hereunder; or (b) to recover from Tenant the difference between the rent reserved hereunder and the fair market rental value of the Premises.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;In case Landlord shall default in any representation or warranty made herein or in the performance of any covenant or agreement herein contained and such default shall continue for forty-five (45) days after receipt by Landlord of written notice thereof given by Tenant or, in the case of a default not curable within forty-five (45) days, if Landlord shall fail to commence to cure the same within forty-five (45) days and thereafter proceed diligently to complete the cure within ninety (90) days after receipt by Landlord of written notice thereof given by Tenant, then Tenant, at its option, may pursue its remedies which shall include, without limitation, the rights to: (a) declare the Lease Term ended and vacate the Premises and be relieved from all further obligations under this Lease if such breach or default has a material adverse effect upon Tenant's ability to use or occupy the Premises and the Common Areas in the manner provided herein, provided, however, that Tenant shall remain liable for any liabilities or obligations accrued through the date of termination (or which otherwise expressly survive expiration or termination of the Lease pursuant to the terms hereof); and/or (b) incur any reasonable expense necessary to perform the obligation of Landlord specified in such notice; and/or (c) sue for injunctive relief; and/or (d) sue for specific performance; and/or (e) sue for damages; and/or (f) set off any amount expended or damages incurred by Tenant as a result of such default against any sums coming due to Landlord hereunder; and/or (g) avail itself of any other remedy provided herein or available at law or in equity. Tenant's remedies provided for herein shall not be deemed to be exclusive of any other remedies available at law or in equity, and all of Tenant's remedies shall be cumulative.

**Section 16.** &nbsp;&nbsp;&nbsp;&nbsp;**Subordination**. To the extent necessary, Landlord reserves the right to place mortgages or deeds of trust on the Property, including the Building and the Premises, superior in lien and effect to this Lease ("Mortgage"). This Lease, and all rights of Tenant hereunder, shall be subject and subordinate to any such Mortgage now or hereafter imposed by Landlord upon the Premises, Building, or Property or any part thereof; provided that, as a condition precedent to the subordination of the Lease to any future Mortgage hereinafter

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encumbering fee title to the Property, such lender shall have executed a subordination, non-disturbance, and attornment agreement, which is in a form reasonably requested by Landlord or Landlord's lender and otherwise reasonably acceptable to Tenant (which acceptance may not be unreasonably withheld, conditioned or delayed), and which shall in all events, provide that the holder of such superior interest agrees that (a) Tenant's tenancy under this Lease and possession of the Premises will not be disturbed so long as no Event of Default under this Lease by Tenant has occurred and is continuing beyond any applicable cure period, and (b) upon termination of this Lease through foreclosure of any Mortgage (or deed in lieu thereof), Tenant shall agree to accept the purchaser at the foreclosure sale (or the transferee under the deed in lieu). In the event any proceedings are brought for the foreclosure of any Mortgage on the Premises, Tenant will attorn to the purchaser at the foreclosure sale and recognize such purchaser as the Landlord under this Lease; provided the purchaser has expressly assumed, as substitute Landlord, the terms and conditions of this Lease. Tenant waives any right of election to terminate this Lease because of any such foreclosure proceedings, so long as Tenant's rights under this Lease are preserved.

**Section 17. Insurance.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section 17(c) below, during the Lease Term, Tenant shall, at Tenant's sole expense, procure and maintain the following insurance:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp; "Special Form" (formerly known as "All Risk") insurance, including fire, extended coverage, sprinkler leakage (including earthquake sprinkler leakage), vandalism and malicious mischief, covering all of the alterations, additions, or improvements to the interior of the Premises, including the improvements installed in the Premises in connection with Tenant's leasehold improvements, if any, and whether paid for by Landlord, by Tenant, or otherwise, and personal property, in an amount not less than 100% of their actual replacement cost. The proceeds of such insurance shall be used for the repair or replacement of the property insured, except that the proceeds attributable to the permanent Tenant improvements and alterations shall be paid and belong to Landlord, as its interests appear, and the proceeds attributable to the personal property shall be paid and belong to Tenant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Commercial general liability insurance for injury to or death of any person and damage to property of others in connection with the construction of improvements on the Premises and with Tenant's use of and operations in the Premises. Such insurance shall be for $3,000,000 per occurrence and $3,000,000 annual aggregate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Workers' Compensation insurance in the amount required by the state in which the Premises are located.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;During the Lease Term, Landlord, at Landlord's sole cost and expense, shall be required to insure the Building and the Premises (excluding the Tenant's alterations and Tenant's furniture, equipment and other personal

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property) against damage by fire and standard extended coverage perils and general liability insurance, in such reasonable amounts and with such reasonable deductibles as are customarily carried by landlords of Comparable Buildings. At Landlord's option, such insurance may be carried under any blanket or umbrella policies which Landlord has in force for other buildings so long as the cost of such blanket or umbrella policy is no more expensive than an individual policy would be. Landlord may, but shall not be obligated to, carry any other form or forms of insurance as Landlord or the mortgagees or ground Landlords of Landlord may reasonably determine is advisable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary herein, Tenant shall have the right to self-insure its risks under this Lease upon written notice to Landlord. Any such notice by Tenant to Landlord shall satisfy the requirements of Tenant pursuant to this Section 17.

**Section 18. Parking**. All vehicles upon the Common Areas are to be currently licensed, in good operating condition, parked for business purposes having to do with Tenant's business operated on the Premises, parked within designated parking spaces, and one vehicle to each space. No vehicle shall be parked as a "billboard" vehicle in the parking lot. Any vehicle parked improperly may be towed away. Tenant, Tenant's agents, employees, vendors, customers, invitees, and guests who do not operate or park their vehicles as required shall subject the vehicle to being towed at the expense of the owner or driver. Tenant shall indemnify, hold and save harmless Landlord of any liability arising from the towing or booting of any vehicles belonging to Tenant, Tenant's agents, employees, vendors, customers, invitees or guests; provided, that the vehicle so towed or booted is in violation of the rules and regulations set forth herein.

**Section 19. Signage.** Tenant shall have the right to display building standard signage at the Premises and on all Building directories, if any (collectively referred to as the "Site"). Tenant shall pay all costs for materials and labor involved in the display of any signage. Upon the expiration of the Lease Term, Tenant, at Tenant's sole cost, shall remove the signage and restore the Site to the same condition as existed prior to the installation. Tenant shall be responsible for all costs related to any modifications and the removal of the signage and restoration of the Site. Except for the signage of Tenant described on <u>Exhibit B</u> attached hereto (the "Permitted Signage"), which Permitted Signage is expressly permitted hereunder and Tenant shall have no obligation to remove such Permitted Signage following the expiration of the Lease Term, any signage of Tenant located upon the Building or the Property as of the Commencement Date may be removed by Landlord after the Commencement Date without cost to Tenant.

**Section 20. Notices**. All notices and demands which may or are to be required or permitted to be given by either party on the other hereunder shall be in writing. All notices and demands shall be sent either by (i) United States Postal Service, postage prepaid, certified mail/return receipt requested; or (ii) by personal service to a representative of the receiving party; or

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(iii) by nationally recognized overnight air courier service. All such notices and demands shall be addressed as follows:

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If to Landlord: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If to Landlord: | MiniMed Puerto Rico Operations LLC |
|  |  | 18000 Devonshire Street |
|  |  | Northridge, California 91325 |
|  |  | U.S.A |
|  |  | Attention: Facilities Department |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With a copy to: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With a copy to: | Legal Department |
|  |  | MiniMed Puerto Rico Operations LLC |
|  |  | 18000 Devonshire Street |
|  |  | Northridge, California 91325 |
|  |  | U.S.A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If to Tenant: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If to Tenant: | Medtronic Puerto Rico Operations Co. |
|  |  | c/o Medtronic, Inc. |
|  |  | 710 Medtronic Parkway |
|  |  | Minneapolis, MN 55432 |
|  |  | Attention: Real Estate Department |
| With a copy to: | Medtronic, Inc. | Medtronic, Inc. |
|  |  | 710 Medtronic Parkway |
|  |  | Minneapolis, MN 55432 |
|  |  | Attention: Legal Department |

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Landlord and Tenant may each, from time to time, specify, by giving fifteen (15) days' notice to each other party, (i) any other address in the United States or Puerto Rico as its address for purposes of this Lease and (ii) any other person or entity in the United States or Puerto Rico that is to receive copies of notices, offers, consents and other instruments hereunder. Any such notice or demand shall be deemed given on the earliest of (a) on the date deposited in an official U.S. Postal Service receptacle if delivered via the United States Postal Service; (b) on the first business day after deposit with an overnight air courier service with instructions to deliver on the next business day; or (c) on the date of actual delivery. If a party refuses to accept a notice or demand, the notice or demand will be deemed to have been delivered on the date tendered but rejected.

**Section 21. Right of First Refusal**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;At any time during the Lease Term, if Landlord shall desire to sell the Property (or any portion thereof) and shall receive a bona fide written offer from any third party, Landlord shall by written notice to Tenant, offer to Tenant the right to enter into a contract for the purchase of the Property on the terms set forth in such bona fide written offer and Tenant shall have twenty (20) business days after receipt of such notice and offer in which to

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accept in writing such terms and conditions. Upon any acceptance of such offer by Tenant, Landlord and Tenant shall enter into a contract for the purchase of the Property upon the terms and conditions specified in the notice from Landlord to Tenant ("Property Purchase"). In the event that Landlord or its successor requires a lease-back or similar arrangement of any portion or all of the Landlord Premises to continue its business operations, Tenant, as new landlord, will be required to permit Landlord such continuance for a term of up to two (2) years from closing of such transaction at a rental rate to be mutually agreed upon by the parties. The parties agree Landlord shall be permitted to seek an opinion from a qualified appraiser with at least ten (10) years' experience conducting appraisals in Juncos, Puerto Rico, and which appraiser shall be selected by Landlord and approved by Tenant, such approval not to be unreasonably withheld, conditioned or delayed with the understanding that such appraisal shall inform a basis for the mutually agreed upon rental rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In the event that Tenant shall fail to accept the terms and conditions of sale by written notification to Landlord prior to the expiration of such twenty (20) business day period, Landlord shall thereafter be free to sell the Property to such third party pursuant to the original bona fide written offer for a period of nine (9) months on the same terms and conditions contained in the original bona fide offer. The right of first refusal contained in this Section 21(a) shall not apply to a foreclosure or similar sale of the Property by any holder of a mortgage on the Property or to the granting of a deed in lieu of foreclosure by Landlord to such holder and shall not apply to the subsequent sale of the Property by a purchaser of the Property at a foreclosure or a similar sale or by the grantee of a deed in lieu of foreclosure.

At any time during the Lease Term, any transaction that would result in a change in control of Landlord shall be treated as an offer to purchase the Property for purposes of this Section 21, with the proposed purchase price for the Property to be established by an appraisal to be provided by Landlord to Tenant in the same manner that a bona fide written offer from any third party would otherwise be provided pursuant to the requirements of this Section 21. Any such appraisal shall be performed by a qualified appraiser with at least ten (10) years' experience conducting appraisals in Juncos, Puerto Rico, and which appraiser shall be selected by Landlord and approved by Tenant, such approval not to be unreasonably withheld, conditioned or delayed. The term "change in control" shall mean the transfer of ownership, directly or indirectly, of at least fifty one percent (51%) of the voting securities of, or possession of the right to vote, in the ordinary direction of its affairs, of at least fifty one percent (51%) of the voting interest in any entity. Should Tenant elect to exercise its right under this Section 21(c), Tenant, as new landlord following the

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closing of its purchase of the Property, will be required to permit Landlord or its successor in interest to continue its business operations throughout the Landlord Premises for a term of up to two (2) years from closing of such transaction at a rental rate to be mutually agreed upon by the parties. The parties agree Landlord shall be permitted to seek an opinion from a qualified appraiser with at least ten (10) years' experience conducting appraisals in Juncos, Puerto Rico, and which appraiser shall be selected by Landlord and approved by Tenant, such approval not to be unreasonably withheld, conditioned or delayed with the understanding that such appraisal shall inform a basis for the mutually agreed upon rental rate.

**Section 22. Landlord's Right of Access.** Upon at least twenty-four (24) hours prior written notice (except in the case of an emergency, in which only such notice shall be required as the circumstances reasonably and safely allow), which may be delivered by e-mail, Landlord shall have the right to enter upon the Premises at all reasonable hours for the purpose of inspecting the Premises, for the purpose of making repairs or providing services, or for any other lawful purpose; provided, such entry shall not unreasonably interfere with the conduct of Tenant's business, and such entry shall be subject to such reasonable security or safety measures as may then be required by Tenant. Landlord's notice to Tenant of Landlord's proposed entry shall state the purpose of the entry and shall identify the persons making the entry. Notwithstanding anything herein to the contrary, any guests accompanying Landlord must disclose their identity to Tenant upon request. Tenant reserves the right to have Tenant's representative or employee accompany Landlord and its visitors. For a period commencing twelve (12) months prior to the expiration of this Lease, Landlord may have reasonable access to the Premises upon at least twenty-four (24) hours' notice for the purpose of exhibiting the Premises to prospective tenants. Landlord, in exercising these rights, (a) shall minimize any interruption with Tenant's business operations (and such entry shall be subject to such reasonable security or safety measures as may then be required by Tenant), and (b) shall repair, restore and redecorate any damage to the Premises caused by or at the direction of Landlord in exercising such rights.

**Section 23. Indemnification**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Tenant shall indemnify, defend, protect, and hold harmless Landlord, its subsidiaries, affiliates, partners, sub-partners, members and their respective officers, directors, shareholders, partners, agents, servants, employees, invitees, vendors, contractors and independent contractors (collectively, "Landlord Parties") from any and all losses, claims, actions, causes of action, liabilities, penalties, damages, costs and expenses (including reasonable attorneys' fees) (collectively, "Claims") incurred in connection with or arising from (i) any gross negligence or willful misconduct of Tenant or of the contractors, vendors, agents, servants, employees, invitees, guests or licensees of Tenant (collectively, "Tenant Parties") in or upon the Property, or (ii) any Tenant EtO Activities or any failure by Tenant to secure any

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necessary permits or comply with any applicable laws in connection with Tenant EtO Activities (but excluding any Claims to the extent arising from Landlord EtO Activities), or (iii) any material breach of the terms of this Lease by Tenant, including, without limitation, any Claims resulting from any failure by Tenant to comply with the requirements of Section 5(e) above with respect to the operation of Tenant's business at the Property; provided, that the terms of the foregoing indemnity shall not apply to the extent any Claim is indemnifiable by Landlord pursuant to Section 23(b) hereof. Notwithstanding the foregoing, but without Landlord waiving any rights of any third parties, Landlord agrees that Tenant shall not be liable to Landlord hereunder to the extent that any Claims that Landlord's employees, workers or contractors sustain in carrying out their normal assigned and agreed upon duties are covered by proceeds from a claim or claims for Workers Compensation or similar employee welfare benefits or otherwise covered by insurance carried by Landlord. The provisions of this Section 23(a) shall survive the expiration or sooner termination of this Lease with respect to any Claims or liability arising in connection with any event occurring prior to such expiration or termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Landlord shall indemnify, defend, protect, and hold harmless the Tenant Parties from any and all Claims incurred in connection with or arising from (i) any gross negligence or willful misconduct of the Landlord Parties in or upon the Property, (ii) any Landlord EtO Activities or any failure by Landlord to secure any necessary permits or comply with any applicable laws in connection with Landlord EtO Activities (but excluding any Claims to the extent arising from Tenant EtO Activities) or (iii) any material breach of the terms of this Lease by Landlord, including, without limitation, any Claims resulting from any failure by Landlord to comply with the requirements of Section 5(e) above with respect to the operation of Landlord's business at the Property; provided, that the terms of the foregoing indemnity shall not apply to the extent any Claim is indemnifiable by Tenant pursuant to Section 23(a) hereof. Notwithstanding the foregoing, but without Tenant waiving any rights of any third parties, Tenant agrees that Landlord shall not be liable to Tenant hereunder to the extent that any Claims that Tenant's employees, workers or contractors sustain in carrying out their normal assigned and agreed upon duties are covered by proceeds from a claim or claims for Workers Compensation or similar employee welfare benefits or otherwise covered by insurance carried by Tenant. The provisions of this Section 23(b) shall survive the expiration or sooner termination of this Lease with respect to any Claims or liability arising in connection with any event occurring prior to such expiration or termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;For the avoidance of doubt, notwithstanding any other agreements between the parties, this Section 23 shall govern and control the

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indemnification obligations of the parties with respect to each party's respective rights and obligations under this Lease.

**Section 24. Restrictions on Use and Management by Landlord**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;During the Lease Term and except as otherwise provided under Section 12 hereof, Landlord shall have no right to assign, delegate, or transfer its responsibilities or performance of any of its obligations under this Lease ("Delegation")without the prior written consent of Tenant, which consent shall not be unreasonably withheld, conditioned or delayed. Any Delegation arrangements or agreements made by Landlord otherwise than as expressly permitted by this Section 24 shall be void, except that the foregoing restriction shall not prevent Landlord from contracting, at Landlord's sole cost, with a professional property management company to administer the operation and maintenance of the Property in accordance with the terms of this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;During the Lease Term, Landlord, other than as permitted in the foregoing Section 24(a), shall have no right to allow a third party, whether by license, services agreement, or similar agreement, to conduct any business (including, without limitation, any business operations undertaken on behalf of Landlord) within the Building ("Third Party Operation") without the prior written consent of Tenant, which consent shall not be unreasonably withheld, conditioned or delayed. Any Third Party Operation arrangements or agreements made by Landlord otherwise than as expressly permitted by this Section 24 shall be void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Miscellaneous**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;No security deposit shall be required hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Landlord and Tenant are not and will not be considered joint venturers nor partners and neither has the power to bind or obligate the other except as set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Should any one or more provisions of this Lease be determined to be illegal or unenforceable, all other provisions will nevertheless be effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;The captions to the sections of this Lease are inserted only as a matter of convenience and for reference only, and in no way affect this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Time whenever mentioned in this Lease is of the essence.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;So long as Tenant does not commit an Event of Default, Tenant shall peaceably and quietly hold and enjoy the Premises for the Lease Term, without hindrance or interruption by Landlord or anyone claiming by or under Landlord.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;One or more waivers of any covenant, term, or condition of this Lease by either party may not be construed as a waiver of a subsequent breach of the same covenant, term, or condition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;The performance of any obligation or undertaking provided for herein by Landlord or Tenant, other than a monetary obligation, shall be excused and no Event of Default shall be deemed to exist in the event, and so long as, the performance of any such obligation is prevented, delayed, retarded or hindered by act of God, fire, earthquake, flood, explosion, war, invasion, insurrection, riot, mob violence, sabotage, failure of transportation, strikes, lockouts, action of labor unions, condemnation, requisition, Public Health Concern (as defined below), laws, orders of governmental or civil or military or naval authorities, or any other cause beyond the control of the Landlord or Tenant other than lack of funds. For purposes of this Lease, "Public Health Concern" means any one or more of the following: epidemics; pandemics; plagues; viral, bacterial or infectious disease outbreaks; public health crises; national health or medical emergencies; governmental restrictions on the provision of goods or services or on citizen liberties, including travel, movement, gathering or other activities, in each case arising in connection with any of the foregoing, and including, but not limited to, governmentally mandated closure, quarantine, "stay-at-home", "shelter-in-place" or similar orders or restrictions; or workforce shortages or disruptions of material and/or supply chains resulting from any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;The laws of Puerto Rico will govern the interpretation, validity, performance, and enforcement of this Lease.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;Whenever herein the singular number is used, the same shall include the plural, and words of any gender shall include each other gender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;The terms, provisions and covenants contained in this Lease shall apply to, inure to the benefit of and be binding upon the parties hereto and their respective heirs, successors in interest and legal representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;Landlord shall have no lien upon or security interest in any furniture, fixtures, equipment, inventory, merchandise and other personal property belonging to Tenant and located in, on or about the Premises at any time while this Lease is in effect, whether such items are presently owned by Tenant or are after acquired, and Landlord hereby disclaims and releases any such lien or interest otherwise arising under applicable law.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;This Lease contains the entire agreement between the parties, and no agreement shall be effective to change, modify or terminate this Lease in whole or in part unless such is in writing and duly signed by the party against whom enforcement of such change, modification or termination is sought.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;If suit should be brought for recovery of the Premises, or for any sum due under this Lease, or because of any act arising out of Tenant's possession of the Premises, or because of an alleged default by Landlord, the prevailing party shall be entitled to all reasonable costs and legal fees incurred in connection with such action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;This Lease may be executed in one or more counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument. Signatures transmitted by facsimile or email, through scanned or electronically transmitted .pdf, .jpg or .tif files, shall have the same effect as the delivery of original signatures and shall be binding upon and enforceable against the parties hereto as if such facsimile or scanned documents were an original executed counterpart.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;Each of Landlord and Tenant represents and warrants to the other that it has not dealt with any broker in connection with this Lease. Tenant shall indemnify and hold Landlord harmless from all claims of any other brokers claiming to have represented Tenant in connection with this Lease. Landlord shall indemnify and hold Tenant harmless from all claims of any other brokers claiming to have represented Landlord in connection with this Lease. The obligations of this paragraph shall survive the expiration or earlier termination of this Lease in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the requirements of Section 21 hereof, Landlord shall have the right to assign this Lease in connection with any sale or transfer of the Property; provided, however, that Landlord shall provide Tenant will notice of any such assignment at least thirty (30) days in advance and any such assignee shall expressly assume all obligations and liabilities of Landlord under this Lease, in writing, at such time as Landlord transfers title to the Property to any such assignee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;Landlord and Tenant each agree that this Lease may not be recorded.

[SIGNATURE PAGE FOLLOWS]

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The parties have caused this Lease to be executed on the Effective Date first above written.

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**LANDLORD:** | &nbsp;&nbsp;&nbsp;&nbsp;**LANDLORD:** | &nbsp;&nbsp;&nbsp;&nbsp;**LANDLORD:** |
| &nbsp;&nbsp;&nbsp;&nbsp;MINIMED PUERTO RICO OPERATIONS LLC | &nbsp;&nbsp;&nbsp;&nbsp;MINIMED PUERTO RICO OPERATIONS LLC | &nbsp;&nbsp;&nbsp;&nbsp;MINIMED PUERTO RICO OPERATIONS LLC |
| By:&nbsp;&nbsp;&nbsp;&nbsp; /s/ Chris Eso | By:&nbsp;&nbsp;&nbsp;&nbsp; /s/ Chris Eso | By:&nbsp;&nbsp;&nbsp;&nbsp; /s/ Chris Eso |
| Name: | Name: | Chris Eso |
| Title: |  | President |
| Date: | &nbsp;&nbsp;&nbsp;&nbsp;March 1, 2026 | &nbsp;&nbsp;&nbsp;&nbsp;March 1, 2026 |

---

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**TENANT:** | &nbsp;&nbsp;&nbsp;&nbsp;**TENANT:** | &nbsp;&nbsp;&nbsp;&nbsp;**TENANT:** |
| &nbsp;&nbsp;&nbsp;&nbsp;MEDTRONIC PUERTO RICO OPERATIONS CO. | &nbsp;&nbsp;&nbsp;&nbsp;MEDTRONIC PUERTO RICO OPERATIONS CO. | &nbsp;&nbsp;&nbsp;&nbsp;MEDTRONIC PUERTO RICO OPERATIONS CO. |
| By:&nbsp;&nbsp;&nbsp;&nbsp; /s/ Anthony Ruiz | By:&nbsp;&nbsp;&nbsp;&nbsp; /s/ Anthony Ruiz | By:&nbsp;&nbsp;&nbsp;&nbsp; /s/ Anthony Ruiz |
| Name: | Name: | Anthony Ruiz |
| Title: |  | Finance Director and Assistant Secretary |
| Date: | &nbsp;&nbsp;&nbsp;&nbsp;March 1, 2026 | &nbsp;&nbsp;&nbsp;&nbsp;March 1, 2026 |

---

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**EXHIBIT A-1**

**LEGAL DESCRIPTION OF THE LAND**

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**EXHIBIT A-2**

**DEPICTION OF THE PREMISES AND THE LANDLORD PREMISES**

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**EXHIBIT B**

**DESCRIPTION OF PERMITTED SIGNAGE**

## Exhibit 10.11

**Exhibit 10.11**

**MASTER SERVICES AGREEMENT** 

This MASTER SERVICES AGREEMENT ("**MSA**"), is entered into as of March 1, 2026 ("**Effective Date**") by and between **Medtronic Puerto Rico Operations Co.** ("**Medtronic**"), a Cayman Islands company with offices at Ceiba Norte Industrial Park, 50 Road 31 KM 24.4, Juncos, PR 00777-3869 and **MiniMed Puerto Rico Operations LLC** ("**Provider**"), a Cayman Island company with address of Conyers Trust Company (Cayman) Limited, P.O Box 2681, Cricket Square, Hutchins Drive, George Town, Grand Cayman, KY, Cayman Islands. The term "MSA" shall mean this document and any included Appendices. The MSA, executed on or after the Effective Date, shall be referred to as an "**MSA**." Both Medtronic and Provider may be referred to as a "**Party**" or collectively, as the "**Parties**."

WHEREAS, Medtronic desires to engage Provider to perform certain services, which may include distribution, warehouse, inventory management, technology, consulting, development, manufacturing, or other similar services, and Provider desires to perform such services for Medtronic in accordance with the terms and conditions of this MSA; and,

WHEREAS, Provider desires to provide the Services for Medtronic as more provided for herein.

NOW THEREFORE, in consideration of the mutual covenants and MSAs contained herein, and for other good and valuable consideration, the Parties agree as follows:

**1. DEFINITIONS**

The following terms, as used in an MSA, have the following meanings.

1.1<u>Affiliate</u>.

Means an entity, whether now or in the future, that directly or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with Medtronic. For this purpose, "control" means ownership of at least fifty percent of the voting shares or the power to direct or cause the direction of, the management, governance or policies of an entity, directly or indirectly, through any applicable means including legal, beneficial or equitable ownership, partnership, or some other form of interest, by contract or other applicable legal document or otherwise.

1.2<u>Confidential Information.</u>

Means all confidential or proprietary information disclosed to a Party ("**Receiving Party**") by the other Party ("**Disclosing Party**"), an affiliate of Disclosing Party or third-party on behalf of Disclosing Party or its affiliates, including but not limited to: the discussions related to the purpose of an MSA; personal data, information, current or historical data, techniques, know-how, practices, reports, forecasts, ideas, inventions, products in development, designs, plans, processes, drawings, sketches, specifications, models, samples, material compositions, circuit schematics, manufacturing techniques, devices, computer programs, hardware and software (including both source code and object code), pro formas, or documentation, formulas, algorithms, product plans, marketing plans and business plans and all other technical, scientific, financial or business data, and such information shall be presumed to be Confidential Information whether the communication of the information was in written, electronic, oral, tangible or intangible form when transmitted to Receiving Party, and regardless of whether or not such information is labeled or identified as "confidential," "proprietary" or the like. Confidential Information also includes any such information that is observed by Provider while on Medtronic's premises, even if it is not disclosed knowingly or directly by Medtronic.

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1.3<u>Facility</u>.

Means the building located at Road 31, Km. 24, Hm 4, Ceiba Norte Industrial Park, in Juncos, Puerto Rico and owned by Provider.

1.4<u>Goods</u>.

Means goods, freight, equipment, substances, components, software, technology, technical data, supplies, raw materials, or other property.

1.5<u>Law or Laws</u>.

Means any foreign, federal, state, provincial or local governmental law, enactment, ordinance, regulation and regulatory policy, guideline, requirement or industry code of any Regulatory Authority.

1.6<u>Personnel</u>.

Means Provider's employees, contingent labor, Subcontractors, agents and representatives.

1.7<u>Regulatory Authority.</u>

Means any foreign, federal, state, provincial or local governmental or regulatory agency or body or other competent authority that enforces Laws or otherwise regulates or supervises Medtronic or Medtronic's products or services (or its Affiliates or its Affiliates' products or services), Provider or either of their activities relating to this MSA or a SOW (including Medtronic's use of the Services).

1.8<u>Restricted Party</u>.

Means (i) any entity or individual listed on (x) any of the restricted party lists maintained by the U.S. Government, including the Specially Designated Nationals List and Foreign Sanctions Evaders List administered by the U.S. Department of Treasury's Office of Foreign Assets Controls ("OFAC"), the Denied Parties List, Unverified List or Entity List maintained by the U.S. Department of Commerce Bureau of Industry and Security, and the List of Statutorily Debarred Parties maintained by the U.S. State Department's Directorate of Defense Trade Controls; (y) the consolidated list of asset freeze targets designated by the United Nations, European Union, and United Kingdom, and any other applicable jurisdictions; and (z) any other restricted party lists maintained by any governmental or non-governmental entity or agency; or (ii) any entity fifty percent (50%) or more owned (either individually or in the aggregate, directly or indirectly) by any entity or individual described in clause (i).

1.9<u>Services</u>.

Means the performance of distribution, warehouse, inventory management, technology, consulting, development, manufacturing, and related services by Provider that are identified and detailed in a SOW or an Appendix.

1.10<u>SOPs.</u>

Means written standard operating procedures as prescribed by Medtronic and provided to Provider, setting forth operational processes and procedures with respect to the performance of Services.

1.11<u>Subcontractor</u>.

Means any third-party (whether an entity or an individual not directly employed by Provider or not contingent labor of Provider), regardless of level or tier, that performs all or any part of Provider's obligations to Medtronic under this MSA.

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1.12<u>Trade Control Laws</u>.

Means all applicable export control and economic sanctions Laws of the United States, the European Union and all other applicable jurisdictions, including the U.S. Department of Commerce Bureau of Industry and Security's Export Administration Regulations, 15 C.F.R. 730-774, the economic sanctions programs administered by OFAC, as set forth in 31 C.F.R. 500-598 and certain executive orders, EU Regulation 428/2009 imposing controls on exports of dual-use items, OJ L 134, 29.5.2009, p. 1, and economic sanctions regulations implemented by the European Council, and any export controls or economic sanctions measures implemented by EU Member States.

**2. SERVICES**

2.1<u>Provision of Services</u>.

All Services to be provided to Medtronic by Provider under this MSA shall be described in detail in an Statement of Work (SOW) (collectively considered "this MSA"). Occasionally, the Parties may document the Services in a document other than an SOW, such as a quote, invoice, purchase order, or other documentation. In these instances, all Services provided by Provider or its affiliates to Medtronic shall be governed by the terms of this MSA even if such document does not reference this MSA and such document shall be deemed to be an SOW for purposes herein. All general terms and conditions in such documents shall be superseded by the terms of this MSA and shall have no force or effect. The Services shall include not only the services expressly described, but also those services that are an inherent or a necessary part of those Services expressly described. Any changes to the Services to be provided under an SOW may only be affected by a mutually agreed upon written change request or amendment.

2.2<u>Performance Standards</u>.

Provider and its Personnel shall perform all Services in a professional and workmanlike manner and in accordance with all applicable Laws, and industry standards, as well as any service level ("**SLAs**") or key performance indicators ("**KPIs**") set forth in an SOW. Provider and its Personnel shall comply with any policy or processes of Medtronic set forth in a SOW, including but not limited to, specific SOPs identified therein, if any.

**3. TERM AND TERMINATION**

3.1<u>Term</u>.

This MSA shall begin on the Effective Date and shall remain in force for a period of ten (10) years. In the event that Medtronic notifies Provider at least ninety (90) days prior to the expiration of the MSA Contract Term that Medtronic desires to renew the MSA, Provider and Medtronic shall negotiate in good faith to determine whether mutually agreeable terms may be reached with respect to any such renewal. Nothing in this section shall require Provider or Medtronic to agree on a renewal of this MSA, and any terms negotiated with respect thereto are intended to be at arms-length.

3.2<u>Termination</u>

Unless otherwise set forth in a relevant SOW to this MSA, Medtronic has the right to terminate this MSA at any time by serving not less than ninety (90) days prior written notice to that effect to the Provider. This MSA and any SOW may be terminated by one Party upon no less than ninety (90) days' prior written notice to the other Party in the event of the other Party's material breach of the Agreement, unless the material breach is substantially cured or the Party has taken measures to substantially cure the breach during such time period.

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3.3<u>Effect of Termination</u>.

After receipt of a notice of termination of any SOW, except as directed otherwise by Medtronic, Provider shall immediately: (a) stop work; (b) place no further subcontracts or orders for materials, services or facilities, except as necessary to complete the continued portion of the SOW per Medtronic's request, if any; (c) terminate all subcontracts to the extent they relate to the Services being terminated; and (d) refund to Medtronic all fees paid pursuant to the relevant SOW for any Services not yet rendered. Termination of expiration of this Agreement will not relieved either Party of (i) their respective obligations to pay monies due or which become due as of or subsequent to the date of expiration or termination, and (ii) any other respective obligations under this Agreement or SOW, as applicable, which specifically survive or are to be performed after the date of expiration or termination.

**4. PAYMENT, INVOICING AND TAXES**

4.1<u>Pricing, Invoicing and Payment</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)<u>Pricing</u>. As consideration for Provider's performance of Services, Medtronic will pay Provider the fees, rates, charges, expenses, and other amounts specified in, or calculated in accordance with, the applicable SOW. In the event Provider performs a Service for which no compensation has been negotiated by the Parties, the Parties shall agree in writing to compensation for that Service prior to Provider's submission of an invoice. Any newly negotiated compensation will not apply to any Service performed prior to the date the Parties agree in writing on such new compensation, except in the event such Service was performed at the specific direction of Medtronic.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)<u>Invoicing</u>. Provider shall deliver to Medtronic invoices for all compensation then due and any allowed expenses as set forth in the applicable SOW and shall not submit an invoice prior to the date provided in the SOW. The form and format of invoices shall comply with Medtronic's prescribed requirements to the extent set forth in a SOW.

<u>Payment</u>. Medtronic shall pay all undisputed invoices net 90 days of receipt of a correct invoice, except as otherwise expressly agreed in writing. Medtronic shall have no obligation to pay any invoice issued more than twelve (12) months from the date originally required to be invoiced. Provider shall refund to Medtronic any payments made in error, duplicate or unidentified payments, and any credits due to Medtronic shall be applied on the next invoice against amounts then due and owing. If Medtronic disputes in good faith any item appearing on an invoice, it may withhold payment while the Parties attempt to resolve the dispute and Medtronic's actions shall not constitute a breach of this MSA, be grounds for Provider to suspend its obligations under this MSA or be cause to charge Medtronic for any interest, late fees or attorneys' fees, regardless of how the dispute is resolved. Payment of an invoice shall not constitute acceptance of any Services.

4.2<u>Taxes.</u>

Fees are exclusive of applicable value-added, sales, use, excise, customs duties, or other similar taxes ("**Taxes**"), relating to the sale, purchase, transfer of ownership, delivery, installation, license, or provision of the Services. Medtronic shall be responsible for the Taxes. Taxes do not include any payroll, unemployment, franchise, corporate, partnership, succession, transfer, profits income or income-based taxes imposed on Provider. If Provider has a legal obligation to pay or collect Taxes for which Medtronic is responsible under this section, the appropriate amount shall be separately itemized

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in an invoice to be paid by Medtronic, unless Medtronic provides Provider with a valid tax exemption certificate authorized by the appropriate taxing authority. If Medtronic is determined to be liable for any withholding taxes, unemployment compensation, workers' compensation or other similar taxes or charges associated with Provider's performance under this MSA, Provider agrees to promptly repay Medtronic for all such amounts. Upon request by Medtronic, Provider shall cooperate: (a) with any filing of any tax returns and any audit, litigation, or other proceeding with respect to Taxes; and (b) as may be necessary to mitigate, reduce or eliminate any Taxes. Such cooperation shall include the retention and provision of records and information that are reasonably relevant to any such audit, litigation, or other proceeding. Medtronic shall withhold all federal, state, local and foreign Taxes as required by the Laws of each applicable jurisdiction. Provider shall provide Forms W-9, W-8 or 8233 as necessary to allow for potential reduction of withholding taxes or other applicable forms required to comply with governmental requirements.

4.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Puerto Rico Taxes.</u> 

For Services provided in Puerto Rico, Medtronic will deduct and withhold from Provider the equivalent of ten percent (10%) of the amounts payable to Provider for Services rendered under the Agreement, in compliance with Section 1062.03 of the Puerto Rico Internal Revenue Code of 2011, as amended (the "2011 Code"). Notwithstanding the above, if Provider so elects, Medtronic can deduct and withhold the equivalent of fifteen percent (15%) or twenty percent (20%) of such payments, rather than the ten percent (10%). The withholding will not apply to the first five hundred dollars ($500.00) of the amount payable to Provider for Services rendered under the Agreement each calendar year. Furthermore, the withholding to be done by Medtronic as herein stated could be increased to twenty percent (20%) in the event that Provider is a nonresident individual, who is a U.S. citizen, as provided by Section 1062.08 of the 2011 Code; or twenty-nine percent (29%) in the event that Provider is a nonresident and non U.S. citizen individual; or a foreign corporation or partnership which is not dedicated to industry or business in Puerto Rico, as provided by Sections 1062.08 and 1062.11 of the 2011 Code. Medtronic, at Provider's request, will provide to Provider proof of payment with respect to any withholding made. If a certificate of waiver has been issued to Provider by the Treasury Department (the "Release Letter"), Medtronic will not withhold or will partially withhold any amounts or categories of payment from Provider, subject to the provisions of the Release Letter, and Provider is responsible to submit a copy of said Release Letter to Medtronic applicable to the period in which the payment is made, otherwise, payments under the Agreement will remain subject to withholding at source. To the extent reasonably practicable, all invoices will be segregated by concepts (services, materials, equipment, etc.), to identify the amounts subject to withholding and avoid undue deductions. Except as provided herein, Provider will be solely responsible for all Federal, Puerto Rico and municipal income, license, excise, and other taxes.

**5. CONFIDENTIALITY**

5.1<u>Non-Disclosure and Use</u>.

Except as expressly provided herein, each party ("Receiving Party") shall not disclose the other Party's ("Disclosing Party") Confidential Information to any third-party (other than its Personnel pursuant to the restrictions set forth in Section 5.5 below) without Disclosing Party's prior written consent. Disclosing Party's Confidential Information may be used by Receiving Party solely for the purposes of performing its obligations under this MSA. Receiving Party shall take all reasonable measures to avoid disclosure, dissemination or unauthorized use of Disclosing Party's Confidential Information, including, at a minimum, those measures taken to protect its own confidential information of a similar nature, but in no event less than a reasonable degree of care. Unless specifically authorized in an applicable SOW as part of the Services to be delivered, Provider shall not analyze, disassemble, reproduce or reverse engineer any products, samples, experimental materials or other tangible reproduction of Medtronic's

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Confidential Information or transfer to or have them analyzed, disassembled, reproduced or reverse-engineered by any third-party. Provider shall maintain and enforce safety and physical security procedures with respect to its collection, possession and maintenance of Medtronic's Confidential Information that are at least equal to the best industry standards, and which provide reasonably appropriate technical and organizational safeguards against accidental or unlawful destruction, loss, alteration or unauthorized disclosure, removal or access of Confidential Information.

5.2<u>Exceptions</u>.

Confidential Information shall not include any information that: (a) is or becomes publicly available through no fault of Receiving Party; (b) is independently developed by Receiving Party without utilizing Disclosing Party's Confidential Information; (c) is approved in writing by Disclosing Party for release by Receiving Party; or (d) is disclosed without restriction to Receiving Party in good faith by a third-party who is in lawful possession thereof and who has the right to make such disclosure. If Receiving Party seeks to take advantage of an exception, it shall bear the burden of proving by the preponderance of the evidence, based on written records, that Disclosing Party's Confidential Information is subject to an exception under this section. Confidential Information shall not be deemed to be within any of the foregoing exceptions merely because it is embraced by general disclosures within such exceptions or within writings or other materials containing both Confidential Information and non-confidential information.

5.3<u>Legally Compelled Disclosure</u>.

If, on the advice of legal counsel, Receiving Party is compelled by court order or Law ("**Order**") to disclose Disclosing Party's Confidential Information, Receiving Party, unless prohibited by Law, shall promptly notify Disclosing Party of such fact, shall provide a copy of the Order and shall reasonably cooperate at Disclosing Party's request in: (a) opposing the Order or seeking to limit the disclosure to the minimum extent necessary to comply with the Order; (b) seeking a protective order; or (c) appealing the Order. Failing any of the above, Receiving Party shall disclose only such Disclosing Party's Confidential Information to the minimum extent required to comply with the Order. Receiving Party shall continue to be bound under thisMSA with respect to Disclosing Party's Confidential Information disclosed under the Order unless the Disclosing Party's Confidential Information becomes a matter of public record in connection with the legal process.

5.4<u>Return/Destruction of Confidential Information</u>.

At the expiration or termination of an MSA or when requested earlier by Disclosing Party, Receiving Party shall immediately return to Disclosing Party, or upon Disclosing Party's written request destroy, all of Disclosing Party's Confidential Information, as well as all copies, adaptations and independent compilations thereof in Receiving Party's actual or constructive possession. In addition, Receiving Party shall ensure that any device or system which stored or contained Disclosing Party's Confidential Information (except for backups or archived tapes) is wiped, overwritten, or removed and destroyed, at a minimum, in accordance with all applicable Laws and in a manner which verifies Disclosing Party's Confidential Information is rendered completely unrecoverable.

5.5<u>Personnel</u>.

Receiving Party shall restrict access to Disclosing Party's Confidential Information to only those Personnel who have a need to know the Confidential Information for Receiving Party to perform its obligations under this MSA and who are subject to binding written confidentiality obligations at least as protective as those set forth herein.

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**6. LEGAL AND REGULATORY COMPLIANCE**

6.1<u>Compliance with Laws</u>.

Each Party shall comply with all Laws that apply to that Party and its activities relating to this MSA. In addition, Provider shall comply (and shall ensure all Personnel comply) with the U.S. Anti-Kickback Statute (42 U.S.C. § 1320a-7b(b)), the U.S. Foreign Corrupt Practices Act (5 U.S.C. §§ 78dd-1, et seq.), the U.K. Bribery Act 2010, the Canadian Corruption of Foreign Public Officials Act, the applicable Mexican anti-bribery Laws and regulations, as applicable to the Services, and all applicable data protection Laws. Provider shall provide Services in a manner so that Medtronic is able to comply with all applicable Laws. Provider shall not take any act, or fail to take any act, that causes Medtronic to be in breach of applicable Laws. Provider shall maintain (and shall ensure that Personnel maintain) such registrations, bonds, certificates, authorizations, approvals, licenses, permits or other regulatory approvals from a Regulatory Authority required to perform its obligations under this MSA.

6.2&nbsp;&nbsp;&nbsp;&nbsp; <u>Import/Export and Trade Control Compliance</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Supplier will comply with the applicable Import/Export Laws and Trade Control Laws regarding the provision of Services and/or Goods, including the shipping, purchase, procurement, import, export, and any other transfer of Services and/or Goods. Supplier represents and warrants that all provision of Services and/or Goods, and all payments for such activities, comply with Import/Export Laws and Trade Control Laws, including the terms of any relevant authorizations issued by the U.S. or other governments. Supplier further represents and warrants that no Services and/or Goods produced or supplied under the Agreement, nor any components, modifications, enhancements or updates thereto, or technical data derived therefrom, are transferred, exported, re-exported, or imported directly or indirectly to any destination, entity, or persons, in violation of Import/Export Laws or Trade Control Laws or are intended to be used or are used for any purposes or activities prohibited by Import/Export Laws or Trade Control Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Supplier understands and acknowledges that technical data, technology, source code, and documents related to such technology or technical data (collectively, "Controlled Data"), provided by Medtronic, are subject to Import/Export Laws and Trade Control Laws. Supplier will comply with all applicable Trade Control Laws in the export, reexport, transfer, use or storage of Controlled Data. In particular, Supplier will not assign any Personnel who are nationals of countries or regions that are the target of sanctions under Trade Control Laws to perform Services under this Agreement, and will not permit any such nationals to access Controlled Data. Each party will reasonably cooperate with the other in providing any information, certificates, or documents as are reasonably requested for compliance with Import/Export Laws or Trade Controls Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)To the extent that export licenses or similar authorizations are required for the provision of Services and/or Goods, Supplier will be responsible for obtaining such licenses or authorizations; Supplier will notify Medtronic of any such licenses or authorizations and provide copies to Medtronic upon request. Supplier will immediately notify Medtronic if Supplier's export privileges are denied, suspended, or revoked in whole or in part by any U.S. or non-U.S. government or non-governmental entity or agency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Supplier hereby acknowledges and confirms that, unless specifically authorized in the Agreement and under applicable Import/Export Laws or Trade Control Laws, it will not provide, sell, ship, export, re-export, re-transfer or divert Services or Goods that are sold or otherwise provided hereunder, directly or indirectly through third parties or otherwise, to any Restricted Party or to or through countries or regions that are the target of sanctions under Trade Control Laws.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)Supplier understands that Medtronic's participation, directly or indirectly, in any business under terms that would support or facilitate a boycott against Israel or any other boycott not recognized by the U.S., is prohibited. Notwithstanding any other provision of the Agreement, neither Medtronic nor Supplier will be required to take, or to refrain from taking, any action where to do so would be inconsistent with or penalized under the laws of the U.S. or any foreign jurisdiction, including the anti-boycott laws administered by the U.S. Commerce and Treasury Departments.

6.3<u>Responsible Sourcing</u>.

Provider shall comply with all applicable Laws relating to human rights, health/safety, and ethics. Medtronic's Global Supplier Standards are posted in the Responsible Supply Management section of Medtronic's website.

**7. PERSONNEL**

7.1<u>Sufficient and Suitable Personnel</u>.

Provider shall assign sufficient Personnel to provide the Services in accordance with each SOW and ensure each of its Personnel: (a) has suitable competence, ability, education, training, licensing (as applicable) and other qualifications for their assigned role; (b) are authorized to accept employment with Provider (or allowed Subcontractors) in the country in which they perform Services; and (c) comply with any additional requirements in any SOW.

7.2<u>Use of Subcontractors and Personnel</u>.

Provider shall not engage any Subcontractor to perform any portion of the Services without obtaining Medtronic's prior written approval. Provider's payment to Subcontractor's for Services performed is not contingent on Provider's receipt of payment for such Services from Medtronic. Notwithstanding any approval by Medtronic, Provider shall remain solely responsible for the performance of all Services and obligations under an MSA and shall be jointly and severally liable for any Subcontractor's or Personnel's acts, omissions or failures to perform or abide by the provisions of an MSA. Provider shall not permit any allowed Subcontractors or Personnel to further subcontract any Services without Medtronic's prior written consent.

**8. INDEMNITY, INSURANCE, AND LIABILITY**

8.1<u>Indemnification</u>.

Except to the extent caused by the negligence or intentional acts or omissions of a Party seeking indemnification, each Party (an "Indemnifying Party") shall indemnify, defend and hold harmless the other Party, its Affiliates and Medtronic's and its Affiliates' respective directors, officers, employees and agents (singly, an "**Indemnified Party**", collectively, the "**Indemnified Parties**") from and against any and all third-party claims, suits, litigations, proceedings, actions, investigations, etc. (collectively, "**Claims**") and shall pay all losses, damages, judgments, notifications, costs, fees, penalties, interest, liabilities, settlements and expenses (including reasonable attorneys' fees) (collectively, "**Losses**"), that the Indemnified Parties may suffer or incur due to the Indemnifying Party's: (a) actual or alleged negligence, willful misconduct or other tortious action; (b) actual or alleged breach of this MSA or any representations or warranties thereunder; (c) actual or alleged acts or omissions resulting in any personal injury (including death) or damage to property; (d) actual or alleged violation of any Law; (e) actual or alleged generation, processing, management, transportation, handling, use, treatment, storage, removal or disposal of any hazardous materials or substances; (f) any claims or liabilities relating to work status, compensation, tax, insurance or benefit matters with respect to Indemnifying

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Party's Personnel; or (g) any allegation that any Services violates any Intellectual Property of a third-party.

8.2<u>Indemnification Procedure</u>.

If a Claim is commenced or any Losses incurred, the Indemnified Party shall provide prompt notice thereof to the Indemnifying Party. Except for Claims relating to Medtronic's Intellectual Property or that would affect Medtronic's reputation, products, services or customers and for which Medtronic elects to control the defense ("**Medtronic Defense Claims**"), the Indemnifying Party shall immediately take control of the defense, settlement and investigation of any Claim and employ attorneys reasonably acceptable to the Indemnified Party to handle and defend the same, at Indemnifying Party's sole cost. The Indemnified Party shall reasonably cooperate at Indemnifying Party's cost and request. Failure of an Indemnified Party to satisfy the foregoing notice requirement shall relieve Indemnifying Party of its obligations in this section only if and to the extent that Indemnifying Party suffers actual material prejudice as a result thereof. Indemnifying Party shall not enter into any settlement with respect to a Claim that imposes any obligations on an Indemnified Party without the Indemnified Party's prior written consent. An Indemnified Party may, at its own cost, participate through its attorneys in such investigation, trial and defense of any Claim and related appeals. With respect to the Medtronic Defense Claims or if an Indemnifying Party does not assume full control over the defense of any other Claim, the Indemnified Party shall have the right to defend the Claim in such manner as it may deem appropriate, and Indemnifying Party shall be responsible for all related costs and expenses, including paying any damages, settlements or other amounts that ultimately may be agreed to in settlement or awarded by a court.

8.3<u>Insurance</u>.

Provider shall maintain in full force and effect the insurance coverages as set forth on, and in accordance with, the **<u>Appendix A</u>**, which is attached and incorporated by reference.

8.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Disclaimers</u>.

EXCEPT AS SET FORTH IN THIS MSA, MINIMED MAKES NO OTHER WARRANTIES OR REPRESENTATIONS, EXPRESS OR IMPLIED, BY OPERATION OF LAW OR OTHERWISE, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, TITLE, OR NON-INFRINGEMENT, ALL OF WHICH ARE HEREBY SPECIFICALLY DISCLAIMED.

8.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation of Liability</u>.

IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY OR ITS AFFILIATES, OR ITS OR THEIR RESPECTIVE REPRESENTATIVES, WHETHER IN CONTRACT, IN TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY) OR OTHERWISE FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES (INCLUDING LOSS OF PROFITS) AS A RESULT OF ANY BREACH, PERFORMANCE OR NON-PERFORMANCE BY THE OTHER PARTY UNDER THIS MSA OR THE SOWS, EXCEPT AS MAY BE PAYABLE TO A CLAIMANT IN A THIRD-PARTY CLAIM IN ACCORDANCE WITH SECTION 8.1., AND EXCEPT FOR GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.

**9. GOVERNING LAW AND DISPUTES**

9.1<u>Governing Law</u>.

This MSA and each SOW shall be governed by and construed in accordance with the substantive Laws of the State of Delaware, without giving effect to its conflicts of laws rules.

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9.2<u>Waiver of Jury Trial</u>.

Each Party irrevocably waives, to the fullest extent permitted by applicable Law, any right it may have to a trial by jury in any legal proceeding directly or indirectly arising out of or relating to an MSA or any Services provided thereunder.

**10. NOTICES AND AUDITS** 

10.1<u>Notices</u>.

Except as otherwise provided in a SOW, all notices shall be in writing and sent by first class mail (return receipt requested), hand-delivered or sent by documented overnight delivery service with tracking capabilities to the Party to whom the notice is directed, at its address indicated below, all delivery charges prepaid. Notice shall be deemed effective when received by the other Party. The Parties shall send a copy of each notice required to the other Party to:

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| | |
|:---|:---|
| Medtronic: | To Provider: |
| Medtronic, Inc. | MiniMed Puerto Rico Operations Co. |
| Attn: VP Global Operations and Supply Chain | Attention: Senior VP Operations |
| 710 Medtronic Parkway NE | 8000 Devonshire Rd. |
| Minneapolis, MN 55432 | Northridge, CA 91325 |
| With copies to: | With copies to: |
| Medtronic, Inc. | Medtronic Minimed, Inc. |
| Attention: Vice President and Chief Counsel Global | Attention: General Counsel |
| Operations, Supply Chain & US Contracting |  |
| 710 Medtronic Parkway NE | 18000 Devonshire Rd. |
| Minneapolis, MN 55432 | Northridge, CA 91325 |

---

A Party may designate another or different notice address in a notice given pursuant to this section.

10.2<u>Audits/Record Retention.</u>

During the term of this MSA and for three years after expiration or termination, Medtronic, directly or through an agent, may audit Provider to verify compliance with the requirements herein. Audits shall be conducted at agreed-upon times, during normal business hours, upon reasonable written notice, and no more often than once per calendar year. Medtronic may audit more than once a year if it has a reasonable belief Provider has materially breached its security obligations, to follow up from a previous audit or if required by a Regulatory Authority. Provider shall retain records relating to this MSA for a period of later of seven years or any regulatory requirements from the date of the termination or expiration of this MSA and ensure that all accounting records are complete, accurate and in accordance with generally accepted accounting principles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)If an audit reveals that Provider has overcharged Medtronic, Provider shall refund such overpayment to Medtronic within ten days thereof. The costs of an audit will be borne by Medtronic; provided, Provider shall provide reasonable assistance, including facilities, without cost to assist in the conduct thereof. If an audit reveals that Provider has overcharged Medtronic by more than five percent (5%) in any given quarter, Provider shall pay all reasonable fees and costs for such audit.

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**11. GENERAL**

11.1<u>Order of Precedence</u>.

Any conflict between the terms in the MSA and any Exhibits, Attachments, or SOWs will be resolved in following order of priority: (i) the SOW, then (ii) the SOW Exhibit(s), then (iii) the relevant Attachments and then (iv) the MSA and its Exhibits. Each of the documents may expressly state that it takes precedence over one or more of the preceding documents and in such case, will control for that specific conflict.

11.2<u>Assignment</u>.

Provider may not assign or delegate any of its rights or obligations under an MSA, including without limitation, by operation of Law, merger or change of control, without the prior written consent of Medtronic, which consent may be withheld in Medtronic's sole discretion.

11.3<u>Divestitures</u>.

Notwithstanding any other provision in an MSA: (a) any business unit or Affiliate of Medtronic that is sold or transferred may continue to use the Services (including any licenses) for its business and any business of Medtronic for a period of one year at the same rates in effect at the time of the divestiture; and (b) Medtronic, at its option, may also transfer any licenses or portion of the applicable Services to the divested business unit or Affiliate upon notice to Provider.

11.4<u>Counterparts</u>.

An MSA may be executed in counterparts, each of which shall be an original as against either Party whose signature appears thereon, but all of which taken together shall constitute but one and the same instrument. An executed facsimile or electronic scanned copy of an MSA shall have the same force and effect as an original.

11.5<u>Relationship of the Parties</u>.

Neither Party shall have the power to bind the other or to assume or to create any obligation or responsibility on behalf of the other Party or in its name.

11.6<u>No Modification.</u>

No amendments, changes, extensions, or modifications to an MSA shall be valid and binding except if in writing and signed by the Parties. No shrink-wrap, click-wrap, invoices, or other terms and conditions or MSAs ("**Additional Terms**") provided with any Services or software hereunder shall be binding on Medtronic, even if use of such Services or software requires an affirmative "acceptance" of those Additional Terms before access is permitted. All such Additional Terms shall be of no force or effect and shall be deemed rejected by Medtronic in their entirety.

11.7<u>Severability</u>.

If any provision of an MSA is held to be illegal, invalid or unenforceable by a court of competent jurisdiction, that provision shall be deemed to be restated to reflect as nearly as possible the original intentions of the Parties in accordance with applicable Law. The remaining provisions of an MSA shall be valid and enforceable to the full extent permitted by Law.

11.8<u>Waivers</u>.

The failure of either Party to insist upon strict performance by the other Party of any provision of an MSA or to exercise any right under an MSA shall not be construed as a waiver to any extent of that Party's right to assert or rely upon any provision of an MSA or right in that or any other instance. A delay or omission by either Party to exercise any right or power under an MSA shall not be construed to be a

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waiver of that right or power. For any waiver to be effective, it must be in writing and signed by the Party waiving such right.

11.9 <u>Survival</u>. Upon termination or expiration of the Agreement, those terms of the Agreement that expressly or by their nature are intended to survive termination or expiration will survive and continue in full force and effect. Without limiting the generality of the foregoing, the following Sections of the Master will survive any termination: Sections 4 (Payment, Invoicing and Taxes), 5 (Confidentiality), 8 (Indemnity), 10 (Notices and Audits), 12 (Business Continuity Plan), and 11 (General).

11.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire MSA</u>.

The MSA (including appendices), constitute the entire MSA between the Parties regarding the subject matter of an MSA and supersede any and all prior MSAs, understandings, representations, negotiations, or communications (written or oral) related thereto. The Appendices are part of the MSA and the Parties shall comply with the provisions therein. Any SOW attached to the MSA, whether at time of contracting or through amendments, shall be part of an MSA whether marked as included or not.

**IN WITNESS WHEREOF**, the Parties have executed and delivered this Logistics Services MSA through duly authorized representatives as of the Effective Date first set forth above.

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| | |
|:---|:---|
| **ACCEPTED AND AGREED:** | |
| **MEDTRONIC PUERTO RICO OPERATIONS Co** | **MINIMED PUERTO RICO OPERATIONS LLC** |
| Signature: <u>/s/ Anthony Ruiz&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> | Signature: <u>/s/ Chris Eso&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |
| Print Name: <u>Anthony Ruiz&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | Print Name: <u>Chris Eso&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Title: <u>Finance Director and Assistant Secretary</u> | Title: <u>President&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> |
| Date: <u>March 1, 2026&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  | Date: <u>March 1, 2026&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>  |

---

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**APPENDIX A**

**<u>INSURANCE REQUIREMENTS</u>**

 Page 1 of 1 <br> Medtronic Confidential and Proprietary

## Exhibit 10.12

**Exhibit 10.12**

**TRANSITION MANUFACTURING AND SUPPLY AGREEMENT**

This TRANSITION MANUFACTURING AND SUPPLY AGREEMENT (this "<u>Agreement</u>"), dated as of March 1, 2026 ("<u>Effective Date</u>") by and between Medtronic, Inc. ("<u>Medtronic</u>"), and Medtronic MiniMed, Inc., a Delaware corporation ("<u>MiniMed</u>" and, together with Medtronic, the "<u>Parties</u>" and each a "<u>Party</u>").

RECITALS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;The Parties or their respective Affiliates have entered into that certain Separation Agreement dated as of March 1, 2026 (the "<u>Separation Agreement</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;In order to facilitate MiniMed's operation of the SplitCo Business after the Separation Date, effective upon the Separation Date, MiniMed desires to purchase from Medtronic, and Medtronic is willing to provide to MiniMed, certain Products and services, for a reasonable amount of time after the Separation Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;&nbsp;&nbsp;&nbsp;In connection with the foregoing, MiniMed desires to purchase, or cause to be purchased, from Medtronic, and Medtronic desires to provide, or cause to be provided, certain manufacturing and assembly services for Products (as defined below) and certain Products, in each case to be manufactured and supplied from the Manufacturing Facility (as defined below), for a certain period following the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.&nbsp;&nbsp;&nbsp;&nbsp;Each of Medtronic and SplitCo desires to reflect the terms of their agreement with respect to such Products and services pursuant to the terms and conditions of this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged and agreed, the Parties hereby mutually agree as follows:

ARTICLE I

<u>TERMS</u>

Section 1.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Definition of Terms</u>. Capitalized terms used but not otherwise defined in this Agreement shall have the meaning ascribed to them in the Separation Agreement. Capitalized terms used in an Exhibit or Schedule hereto that are not otherwise defined in this Agreement or in the Separation Agreement shall have the meanings set forth in such Exhibit or Schedule. In addition, the following terms in this Agreement shall have the meanings given such terms in this <u>Section 1.1</u> as follows:

"<u>Affiliate</u>" means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with, such Person; <u>provided</u> that, for the purposes of this definition, "control" (including with correlative meanings, the terms "controlled by" and "under common control with"), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management

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and policies of such Person, whether through the ownership of voting securities, by contract or otherwise.

"<u>Agreement</u>" has the meaning set forth in the Preamble.

"<u>Asset</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Background Assets</u>" means any Assets (including Intellectual Property): (i) existing as of the Separation Date and that are owned by a Party or its Affiliates; (ii) acquired by a Party or its Affiliates after the Separation Date; or (iii) made, conceived, or developed by a Party or its Affiliates outside of any services provided under this Agreement.

"<u>Bankruptcy Code</u>" has the meaning set forth in <u>Section 4.2(c)</u>.

"<u>Bankruptcy Laws</u>" has the meaning set forth in <u>Section 4.2(c)</u>.

"<u>Business Assets</u>" means the machinery, assembly lines, Tooling, components, fixtures and other tangible property as set forth on each Project Order.

"<u>Business Reviews</u>" has the meaning set forth in <u>Section 2.5</u>.

"<u>Cap</u>" has the meaning set forth in <u>Section 10.2(b)</u>.

"<u>Damages</u>" has the meaning set forth in <u>Section 10.1(a)</u>.

"<u>Deliverables</u>" means any necessary development or validation work in connection with the manufacture of the Products, including but not limited to completion of any development milestones.

"<u>Effective Date</u>" has the meaning set forth in the Preamble.

"<u>Equipment</u>" has the meaning set forth in <u>Exhibit A</u> (Bailment Agreement).

"<u>FCPA</u>" has the meaning set forth in <u>Section 11.2</u>.

"<u>Finished Good</u>" means a contract-manufactured finished goods product produced by MiniMed.

"<u>Force Majeure Event</u>" has the meaning set forth in <u>Section 11.1</u>.

"<u>Governmental Authority</u>" means any federal, state, local, foreign or international court, government, department, commission, board, bureau, agency, official or other legislative, judicial, regulatory, administrative or governmental authority.

"<u>Improvements</u>" and "<u>Improvement Charges</u>" have the respective meanings set forth in <u>Section 2.1(c)(ii)</u>.

"<u>Information</u>" has the meaning ascribed thereto in the Separation Agreement.

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"<u>Intellectual Property</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>International Trade Laws</u>" has the meaning set forth in <u>Section 11.2</u>.

"<u>Law</u>" means any constitution, law, common law, statute, ordinance, rule, regulation, regulatory requirement, code, order, judgment, injunction or decree enacted, issued, promulgated, enforced or entered by a Governmental Authority or securities exchange.

"<u>Manufacturing and Supply Services</u>" has the meaning set forth in <u>Section 2.1(d)</u>.

"<u>Manufacturing Facility</u>" means Medtronic's Tempe, Arizona campus.

"<u>Materials</u>" means the raw materials, components, and subassemblies used in the procurement, manufacture, assembly, packaging, and preparation of the Products.

"<u>Medtronic</u>" has the meaning set forth in the Preamble.

"<u>Medtronic Indemnitees</u>" has the meaning set forth in <u>Section 10.1(b)</u>.

"<u>MiniMed</u>" has the meaning set forth in the Preamble.

"<u>MiniMed Indemnitees</u>" has the meaning set forth in <u>Section 10.1(a)</u>.

"<u>Minimum Order Quantity</u>" means, with respect to each Product, the monthly aggregate quantity which MiniMed must order (directly or through Third-Party Purchasers) and which Medtronic will supply, as set forth in the applicable Project Order.

"<u>Month</u>" means a calendar month; <u>provided</u> that the first Month shall commence on the Effective Date and shall end on the last day of the first full calendar month of the Term; <u>provided</u>, <u>further</u>, that, with respect to each Project Term, the last Month shall end on the last day of such Project Term.

"<u>Party</u>" or "<u>Parties</u>" has the meaning set forth in the Preamble.

"<u>Product</u>" means any of the component products of raw material or substances that are supplied by Medtronic to Purchaser pursuant to a Project Order, and that are intended by Purchaser to be included as part of a Finished Good.

"<u>Project Term</u>" has the meaning set forth in <u>Section 4.1</u>.

"<u>Project Order</u>" and "<u>Project Orders</u>" have the meaning set forth in <u>Section 2.1</u>.

"<u>Purchase Orders</u>" means a form submitted by a Purchaser to Medtronic for the purchase of the Products under a Project Order specifying, among other things: (a) the number of units of the Products to be purchased, (b) the facility to which the Products will be delivered and (c) the designated delivery dates.

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"<u>Purchaser</u>" means MiniMed and/or its Third-Party Purchaser, as applicable, and as identified in a Project Order.

"<u>Reform Act</u>" has the meaning set forth in <u>Section 11.3</u>.

"<u>Separation Agreement</u>" has the meaning set forth in the Recitals.

"<u>Service Provision and Product Taxes</u>" has the meaning set forth in <u>Section 6.1(a)</u>.

"<u>Specifications</u>" means the manufacturing and/or technical specifications, criteria, designs, drawings, processes, test instructions, quality instructions, packaging, sterilization and/or a bill of materials used by Medtronic for the materials, manufacturing, shipping, storage and testing specifications for each of the Products as of the Effective Date (except for changes to such Specifications agreed upon by the Parties pursuant to <u>Section 2.2</u>).

"<u>Surveys</u>" has the meaning set forth in <u>Section 11.3</u>.

"<u>Term</u>" has the meaning set forth in <u>Section 4.1</u>.

"<u>Third-Party Claim</u>" has the meaning ascribed thereto in the Separation Agreement.

"<u>Third-Party Purchaser</u>" means MiniMed's third-party manufacturers designated on the applicable Project Order as permissible purchasers of the Products within such Project Order.

"<u>TMSA Disputes</u>" has the meaning set forth in <u>Section 2.5</u>.

"<u>Tooling</u>" means capital equipment, tools, manufacturing and test fixtures, test equipment and gauges purchased and/or secured by Medtronic to perform obligations under an applicable Project Order.

ARTICLE II

<u>MANUFACTURE, SALE, AND PURCHASE OF THE PRODUCTS</u>

Section 2.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Nature and Scope of Agreement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*General*. This Agreement establishes the general terms and conditions that shall govern the relationship between the Parties with respect to the manufacturing, sale and purchase of Products contemplated hereby. Simultaneously with the execution of this Agreement, the Parties are entering into the project orders attached to this Agreement as Annexes 1-3 (each, a "<u>Project Order</u>" and collectively the "<u>Project Orders</u>," as such may be amended from time to time), each of which shall be governed by the terms and conditions contained in this Agreement and shall also be governed by the more specific terms and conditions contained in such Project Order. Except as expressly set forth in an individual Project Order, in the event of a conflict between the terms contained in an individual Project Order and the terms in the body of this Agreement, the terms in this Agreement shall take

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precedence. Except as expressly set forth in an individual Project Order, no terms contained in an individual Project Order shall modify the terms of this Agreement or any other Project Order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Third-Party Purchasers*. Each Third-Party Purchaser listed within a Project Order shall be eligible, during the Term, to purchase the Products at the Prices listed within the applicable Project Order directly from Medtronic. Purchases made by Third-Party Purchasers shall be governed by terms and conditions that MiniMed shall flow down to such Third-Party Purchasers, which terms shall incorporate the applicable terms in the applicable Project Order and this Agreement, including without limitation confidentiality and payment obligations. MiniMed shall be responsible for informing each Third-Party Purchaser of the directed buy contemplated by the applicable Project Order and flowing down such applicable terms to each Third-Party Purchaser, and shall not disclose or provide a copy of this Agreement or the Separation Agreement to any Third-Party Purchaser. MiniMed shall guarantee any payment obligation owed by any Third-Party Purchaser to Medtronic. For clarity, Medtronic shall have the same rights and obligations with respect to each Third-Party Purchaser's purchase and sale as if such purchase or sale was made by MiniMed, and MiniMed shall be liable for any breach of such flowed-down terms by a Third-Party Purchaser. For clarity, no Third-Party Purchaser shall have any rights or remedies under this Agreement or a Project Order, and MiniMed shall remain solely responsible for the performance of such flowed-down obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Transition; Personnel and Customer Support*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The Parties acknowledge that the supply arrangement contemplated by this Agreement is intended to provide initial interim supply of Products to MiniMed while MiniMed works to develop its own capabilities for long-term sourcing and/or manufacturing of the Products. In support of such efforts, Medtronic will hire a contract employee to provide customer support services specifically to MiniMed for the Products sold hereunder during the Term, the cost of which will be billed to MiniMed as part of overall Product support as described further in the Project Orders. A reasonable amount of time prior to incurring such costs, Medtronic shall provide a written estimate to MiniMed for review and written approval. MiniMed shall promptly respond to such approval request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;If existing software or other Medtronic customer management or support tools prove insufficient to provide support from Medtronic to MiniMed under this Agreement, or if either Party identifies a need for improvements to such software or tools to better support the objectives of this Agreement, either Party may request in writing that Medtronic undertake software and/or other tool improvements to provide such support ("<u>Improvements</u>"). Such requests may be made no more than once annually during the Term of this Agreement. Within fifteen (15) days of receipt of any such request for Improvements, Medtronic shall provide MiniMed with a good faith estimate of the out-of-pocket fees and other costs to provide such Improvements ("<u>Improvement Charges</u>"). Thereafter, if MiniMed elects to proceed with the requested Improvements, it shall so notify Medtronic in writing, and MiniMed shall thereafter be responsible for all Improvement Charges actually incurred by Medtronic in connection

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with such Improvements. Medtronic will provide to MiniMed an invoice for any such Improvement Charges within thirty (30) days following the date of implementation of any Improvements and will provide reasonable documentary evidence to substantiate such Improvement Charges.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;MiniMed also acknowledges that the transitional nature of this Agreement may impact Medtronic's ability to retain key employees associated with the manufacture and supply of the Products. As such, MiniMed agrees to pay the following costs required to maintain continuity of supply during the Term: (i) any costs incurred in recruiting personnel necessary to perform the services under this Agreement; (ii) any labor or reasonable costs associated with personnel retention packages or spot bonuses associated with retention; and (iii) standard wage increases or incentives (such wage increases or incentives to be included in the fees for Manufacturing and Supply Services set forth in the applicable Project Order). A reasonable amount of time prior to incurring such costs, Medtronic shall provide a written estimate to MiniMed for review and written approval. MiniMed shall promptly respond to such approval requests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Acknowledgement and Representation*. MiniMed understands and acknowledges that this Agreement is transitional in nature. MiniMed further understand and agrees that Medtronic is not in the business of providing sourcing, manufacturing, supply, and support services ("<u>Manufacturing and Supply Services</u>") to third parties and, except as expressly set forth in the Unity Project Order (and only subject to the terms and conditions contained therein), Medtronic does not have any interest in, nor does it intend to, continue providing any of the Manufacturing and Supply Services beyond the initial term set forth in each Project Order. As a result, the Parties have allocated responsibilities and risks of loss and limited liabilities of the Parties as stated in this Agreement based on the recognition that Medtronic is not in the business of providing Manufacturing and Supply Services to third parties. Such allocations and limitations are fundamental elements of the basis of the bargain between the Parties and Medtronic would not be able or willing to provide the Manufacturing and Supply Services without the protections provided by such allocations and limitations. During the Term, MiniMed agrees to work diligently and expeditiously to establish its own logistics, infrastructure and systems, and to obtain all necessary regulatory permits, to enable a transition to its own internal organization or other third-party providers of the Manufacturing and Supply Services and agrees to use its reasonable good faith efforts to reduce or eliminate its and its Affiliates' dependency on Medtronic's provision of the Manufacturing and Supply Services as soon as is reasonably practicable.

Section 2.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Change Orders</u>. The Parties may from time to time amend existing Project Orders pursuant to change orders ("<u>Change Orders</u>") to, among other things, enter into modified arrangements for the manufacture, supply, sale and purchase of Products. The Party so requesting a Change Order shall provide the other Party with an assessment of the impact on the total cost, Specifications, Deliverables or other material impacts on this Agreement and any existing Project Orders. Any proposed Change Order shall be implemented only with the written consent of both Parties, which shall not be unreasonably withheld. For clarity, MiniMed is the owner and responsible party for the design of the Products and, given the transitional nature of

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this Agreement, Medtronic will not undertake any further product development work or participate in any design change initiatives for the Products unless otherwise set forth in the applicable Project Order. If a change is made pursuant to a Change Order, MiniMed, with the assistance of Medtronic, will be responsible for making the regulatory filings and obtaining the regulatory authorizations (or if Medtronic is required by applicable Law to make such regulatory filings, MiniMed shall provide Medtronic with the necessary documentation, data, and support to make the regulatory filings and obtain the regulatory authorizations) necessitated by any such change and MiniMed shall bear all costs related to any such change. Medtronic shall, at MiniMed's discretion, either (x) invoice the Purchaser for any such costs or (y) otherwise pass along such costs to MiniMed in a manner to be mutually agreed between the Parties. Medtronic shall provide reasonable documentation of its costs related to any such change.

Section 2.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Use of Business Assets</u>. During the applicable Project Term, MiniMed shall make the Business Assets applicable to such Project Order which are owned by MiniMed reasonably available to Medtronic free of charge so as to enable Medtronic to manufacture and supply the Products, subject to certain terms and conditions set forth on <u>Exhibit</u> <u>A</u> (Bailment Agreement).

Section 2.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Quality</u>. Medtronic will conduct all manufacturing under this Agreement under Medtronic's quality management system. Medtronic will document its existing manufacturing processes to achieve compliance to ISO13485:2016 by the Separation Date. The Parties will enter into a Quality Agreement, which shall be incorporated into this Agreement (the "<u>Quality Agreement</u>"). If there is any inconsistency between this Agreement and the Project Orders, on the one hand, and the Quality Agreement, on the other hand, the terms of this Agreement or the Project Orders will prevail with respect to any inconsistency in the commercial terms (e.g., pricing, costs and expenses, delivery terms) and the Quality Agreement will govern with respect to the quality terms between the Parties. For clarity, Medtronic is not required to enter into any Quality Agreements with MiniMed suppliers, whether Third-Party Purchasers or others.

Section 2.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Agreement Governance</u>. It is the intention of the Parties to collaborate and communicate in a proactive manner at regular intervals and with the appropriate level of senior leadership interaction in order to facilitate the timely achievement of the Parties' business objectives and obligations set forth in this Agreement and the Project Orders ("<u>Business</u> <u>Reviews</u>"). In support thereof, the Parties have each nominated appropriate cross-functional representatives that will meet on schedules to be agreed upon by the Parties in order to manage the Parties' interactions under this Agreement. Business Reviews will be held by Purchaser and Medtronic by such method and/or at such place to be agreed upon by the Parties, including at the Manufacturing Facility, at the Parties' corporate facilities at the corporate levels (including participation of appropriate level decision makers from both Parties to address both tactical and strategic business initiatives and objectives), virtually or telephonically, on a periodic basis agreed to by the Parties, to discuss topics of interest, including but not limited to the recommended meetings approach and strategies set forth on <u>Exhibit B</u>. The Parties agree to work in good faith to resolve any issues or disagreements that might arise during or in follow up to such meetings, including a mutually agreed resolution plan and timeline ("<u>TMSA Disputes</u>").

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Failure to hold such meetings will not relieve either Party from its obligations under this Agreement. In the event that any TMSA Disputes cannot be resolved, the provisions of Sections 8.02 through 8.04 of that certain Transition Services Agreement between the Parties or their respective Affiliates of even date hereof (the "<u>TSA</u>") shall be incorporated herein by reference and shall apply *mutatis mutandis* as if such TMSA Dispute was a "Dispute" as defined in the TSA.

ARTICLE III

<u>PRODUCTION SCHEDULING, MATERIALS, AND PRODUCT ORDERING</u>

Section 3.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Product Minimum Order Quantity</u>. Forecast delivery requirements and the Minimum Order Quantity for each Product are as set forth on each Project Order.

Section 3.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Manufacturing Lead Times</u>. The lead time for the manufacture of each Product shall be set forth on each Project Order. Medtronic may produce and hold inventory of the Product pending receipt of Purchase Orders; <u>provided</u> any warehousing and/or carrying costs related to extended storage of Products due to Purchaser's failure to place Purchase Orders consistent with the applicable Minimum Order Quantity shall be at MiniMed's cost and expense. Medtronic will promptly notify Purchaser in the event Medtronic, for any reason, anticipates difficulty in meeting any of its agreed requirements in a Project Order.

Section 3.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Inventory; End-of-Life Orders</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Inventory*. The terms governing the inventory of Materials and Products are set forth in the applicable Project Order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*End of Life Orders*. In the event that either Medtronic or MiniMed becomes aware that any Material used in the manufacturing under any Project Order is expected to be discontinued, the Parties shall promptly notify each other and cooperate to mutually determine the quantity of such Material to be ordered and carried by Medtronic. Any such inventory shall be deemed "<u>Materials Inventory</u>" and shall be subject to the inventory terms and obligations set forth in the applicable Project Order.

Section 3.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Product Ordering</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Purchase Orders*. All purchases of Products will be made by Purchaser submitting one or more Purchase Orders to Medtronic. Except for the information specified in the definition of Purchase Orders, such purchase and sale will be governed solely by this Agreement and shall not be governed by any other terms, including the provisions of the Uniform Commercial Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Confirmation*. Except as otherwise set forth herein, Medtronic will confirm all Purchase Orders for Product issued by Purchaser within five (5) business days of receipt thereof. In the event Medtronic has a reasonable basis to reject any Purchase Order (e.g., the Purchase Order does not comply with the terms of this Agreement or exceeds any applicable

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Minimum Order Quantity), Medtronic will so inform Purchaser, and the Parties will work together to modify such Purchase Order accordingly. Purchase Orders within the requirements of this Agreement shall be deemed accepted, unless Medtronic rejects them in accordance with this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Quantity Increase or Decrease*. Any requested increase or decrease by Purchaser to the quantities set forth in any previously accepted Purchase Order shall be subject to Medtronic's written approval in its sole discretion.

Section 3.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Manufacturing and Delivery Commitment</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Delivery*. Medtronic shall make all deliveries at the time(s) and in the quantity(ies) specified in the Purchase Order. Medtronic hereby represents and warrants that it will maintain its manufacturing capacity for the Products in existence as of the Effective Date throughout the Project Term of the applicable Project Order. Notwithstanding the foregoing, Medtronic shall not be held in breach of contract nor have any liability for any changes, disruptions, or issues not caused by Medtronic affecting the applicable Product supply chain, including but not limited to supply shortages, production delays, limitations or failures by suppliers, geopolitical events or risks, disruptions resulting from fluctuating volumes or reduced Purchase Orders from MiniMed or its Third-Party Purchaser, or as a result of a Force Majeure Event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Shipping*. Costs of shipping and freight will be borne by Purchaser. Shipment terms (INCOTERMS) shall be set forth in the applicable Project Order.

Section 3.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Inspection</u>. During manufacturing, Products will be subject to inspection pursuant to the Quality Agreement. Any nonconforming Products (as defined in the Quality Agreement) will be handled pursuant to the requirements of the Quality Agreement. After shipment of Products to Purchaser hereunder, Purchaser shall inspect such Products within five (5) business days after receipt and shall promptly provide written notice to Medtronic of any Product that does not meet Specifications, including a description of the nonconformance. Products not rejected within five (5) business days of receipt shall be deemed to have been accepted by Purchaser. Any Products rejected by Purchaser shall be made available to Medtronic on reasonable notice and during normal business hours for Medtronic's inspection and verification of nonconformance. If Medtronic verifies that a Product is nonconforming, Medtronic shall, at its option and in accordance with <u>Section 9.1</u>, either repair or replace the nonconforming Product, or if agreed by MiniMed credit the invoice for such Product. If replacement is requested by Purchaser, Medtronic shall promptly ship replacement Products, which shall be invoiced accordingly. Nonconforming Products returned to Medtronic for inspection and warranty remedy shall be subject to the procedures in <u>Section 9.1</u> and <u>Section 9.4</u>, including freight prepaid by Purchaser.

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ARTICLE IV

<u>TERM AND TERMINATION</u>

Section 4.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Term</u>. The term of this Agreement shall commence on the Effective Date and shall continue until the last to expire or terminate of the Project Terms (the "<u>Term</u>"), unless earlier terminated as expressly provided under <u>Section 4.2</u> of this Agreement. "<u>Project Term</u>" means, with respect to each Project Order, the period set forth in each such Project Order, including any extension terms set forth therein, unless earlier terminated as expressly provided under the terms of <u>Section 4.2</u> of this Agreement or the applicable Project Order. Notwithstanding the foregoing, in no event shall any Project Term exceed twenty-four (24) months following the Effective Date hereof, unless agreed to by Medtronic in its sole discretion. It is acknowledged and agreed that the expiration or termination of a specific Project Order does not, in and of itself, affect the Term of this Agreement or any other Project Order. Transition activities in advance of expiration of the Project Order are set forth in the applicable Project Order.

Section 4.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Early Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Breach*. Either Party may terminate (i) this Agreement, upon the material breach of this Agreement by the other Party if such material breach has not been cured within thirty (30) days after written notice thereof to the Party in material breach; or (ii) a Project Order, upon the material breach of such Project Order by the other Party if such material breach has not been cured within thirty (30) days after written notice thereof to the Party in material breach. A material breach of a Project Order may be taken into account in determining whether there has been a material breach of this Agreement, depending on the circumstances of such breach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Termination of Project Order*. Certain of the Project Orders contain a provision providing for early termination, subject to the terms and conditions set forth in such Project Order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Insolvency*. Either Party may terminate this Agreement upon fifteen (15) days' written notice: (i) in the event that the other Party (or its Subsidiary, as applicable) shall (1) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (2) make a general assignment for the benefit of its creditors, (3) commence a voluntary case under the United States Bankruptcy Code, as now or hereafter in effect (the "<u>Bankruptcy Code</u>"), (4) file a petition seeking to take advantage of any law (the "<u>Bankruptcy Laws</u>") relating to bankruptcy, insolvency, reorganization, winding-up, or composition or readjustment of debts, (5) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in any involuntary case under the Bankruptcy Code, or (6) take any corporate action for the purpose of effecting any of the foregoing; or (ii) if a proceeding or case shall be commenced against the other party in any court of competent jurisdiction and not dismissed within sixty (60) days of commencement, seeking (x) its liquidation, reorganization, dissolution or winding-up, or the composition or readjustment of its debts, (y) the appointment of a trustee, receiver, custodian,

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liquidator or the like of the party or of all or any substantial part of its assets, or (z) similar relief under any Bankruptcy Laws, or an order, judgment or decree approving any of the foregoing shall be entered and continue unstayed for a period of sixty (60) days; or an order for relief against the other party shall be entered in an involuntary case under the Bankruptcy Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*By MiniMed*. MiniMed may terminate a Project Order within ninety (90) days after written notice to Medtronic, subject to MiniMed's payment of a termination fee for each such Project Order calculated as follows: (1) amounts due pursuant to <u>Section 4.3(a)</u>; (2) the incremental amount of severance payments, benefits, and related employer payroll taxes, as required by applicable Law and Medtronic's standard severance policies, on account of the early termination for all Medtronic employees whose roles were dedicated to supporting Medtronic's obligations under the applicable Project Order and who are no longer needed as a result of the early termination; (3) all costs associated with finished goods, work-in-process inventory, non-cancelable or non-returnable inventory/orders with Medtronic suppliers that was ordered due to Minimum Order Quantities under the applicable Project Order, Purchaser Purchase Orders or forecasts (if applicable), but which has not yet been sold, invoiced, or paid for; and (4) any other reasonable and documented expenses directly related to the wind-down or cessation of the applicable Project Order. Medtronic will provide MiniMed with an itemized invoice of all applicable costs and expenses within sixty (60) days following the effective date of termination.

Section 4.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Effect of Termination</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Termination*. Following the expiration or termination of this Agreement or any Project Order, all further rights and obligations of the Parties under this Agreement or such Project Order, as applicable, will cease, except that the Parties (or the applicable Third-Party Purchaser to the Project Order, as applicable) will not be relieved of (i) their respective obligations to pay monies due or which become due as of or subsequent to the date of expiration or termination, and (ii) any other respective obligations under this Agreement or such Project Order, as applicable, which specifically survive or are to be performed after the date of expiration or termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Transition Upon Termination*. Any notice of termination delivered by Medtronic or MiniMed under a Project Order to the other party under a Project Order shall set forth the date of the termination. After the effective termination of such Project Order, Medtronic will submit a final invoice to Purchaser for all work performed prior to the effective date of such termination. Following the termination of any Project Order, Purchaser will promptly (and in any event within thirty (30) days of receipt of an applicable invoice) pay to Medtronic all outstanding amounts due and owing to Medtronic.

Section 4.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Survival</u>. All provisions which are continuing in nature, including but not limited to <u>Section 2.4</u> (Quality), <u>Section 4.3</u> (Effect of Termination) and <u>Section 8.1</u> (Confidential Information), <u>Article VII</u> (Intellectual Property), <u>Article IX</u> (Representations and Warranties), <u>Article X</u> (Indemnification; Limitation of Liability) and <u>Article XI</u> (Miscellaneous) will survive termination of this Agreement and each Project Order.

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ARTICLE V

<u>PRICE, FEES, AND PAYMENT</u>

Section 5.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Price; Fees, and Payment</u>. The terms and conditions governing Product pricing, fees for Manufacturing and Supply Services, payment terms, and payment flows are set forth in the applicable Project Order.

ARTICLE VI

<u>TAXES; INSURANCE</u>

Section 6.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u> <u>and Duties</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*General*. Subject to <u>Section 6.1(b)</u> and <u>Section 6.1(c)</u>, Purchaser shall pay (or cause to be paid) and be responsible for all (i) sales, use, excise, value-added, service, goods and services, consumption and similar Taxes assessed on or in connection with the provision of services under this Agreement and (ii) Taxes, duties, tariffs, surcharges and any other governmental fees, charges or assessments imposed on or against the Products or Materials supplied to Purchaser pursuant to this Agreement and/or the purchase or sale thereof, in each case, by any Governmental Entity ("<u>Service Provision and Product Taxes</u>"). For the avoidance of doubt, Service Provision and Product Taxes shall not include any income-based or similar Taxes measured or imposed on Medtronic's net income.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Service Provision and Product Taxes*. All amounts payable pursuant to this Agreement are exclusive of Service Provision and Product Taxes. The Purchaser shall either (x) on receipt of a valid invoice (or other valid and customary documentation, if any) in compliance with applicable Law and reasonably detailing the applicable Service Provision and Product Taxes and a calculation of the amount due, promptly pay or reimburse Medtronic the amount of such Service Provision and Product Taxes shown as due on such invoice; or (y) where required by applicable Law, account directly to the relevant Governmental Authority for any such Service Provision and Product Taxes (e.g., under a reverse charge procedure). The Parties shall use commercially reasonable efforts to cooperate to (i) minimize Service Provision and Product Taxes to the extent legally permissible (e.g., by applying for exemption certificates or issuing any certificate or similar document which the other Party may require in order to obtain a Tax credit, deduction or similar relief) and (ii) calculate any applicable Service Provision and Product Taxes and make payment thereof directly to the appropriate Governmental Authority. If Medtronic receives any refund of Service Provision and Product Taxes that are, or were, borne by the Purchaser pursuant to this Agreement, Medtronic shall promptly pay, or cause to be paid, to the Purchaser the amount of such refund (net of any additional Taxes the Purchaser incurs or will incur as a result (x) of the receipt of such refund or (y) the facts on which such refund is based).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Withholding Taxes*. In the event that applicable Law requires that an amount in respect of any Taxes be withheld from any payment under this Agreement, the payor shall withhold such Taxes and pay such withheld amounts over to the applicable

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Governmental Authority in accordance with the requirements of applicable Law. Any amount so withheld shall be treated as having been paid to the payee, and the payor shall not be required to pay any additional amount as a result of or in respect of such withholding. At payee's request, the payor shall provide payee with reasonably satisfactory documentation evidencing payment to the applicable Governmental Authority of any amounts so withheld. The Parties shall use commercially reasonable efforts to minimize any withholding Taxes to the extent legally permissible (e.g., by applying for exemption certificates or issuing any certificate or similar document which the other Party may require in order to obtain a Tax credit, deduction or similar relief).

Section 6.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Insurance</u>. Throughout the Term, MiniMed will carry valid insurance policies or a program of self-insurance for, at a minimum: (a) Commercial General Liability Insurance in a minimum amount of $5,000,000 Combined Single Limit, Bodily Injury and Property Damage, and (b) Product Liability Insurance in a minimum amount of $10,000,000 per occurrence. Upon Medtronic's request from time to time during the Term, MiniMed will provide Medtronic with evidence of such insurance coverage.

ARTICLE VII

<u>INTELLECTUAL PROPERTY</u>

Section 7.1&nbsp;&nbsp;&nbsp;&nbsp;<u>License for Services</u>. MiniMed, on behalf of itself and its Affiliates, hereby grants to Medtronic and to its Affiliates a nonexclusive, nontransferable, world-wide, royalty-free, non-sublicensable license, for the term of this Agreement, to use Intellectual Property owned or controlled by MiniMed and its Affiliates that is required for the provision or receipt of the services under a Purchase Order to the extent necessary for Medtronic and its Affiliates, subcontractors and agents to conduct activities under an applicable Purchase Order and otherwise perform their obligations under this Agreement. The Parties agree that their rights under each other's Trademarks, if any, are governed by the Transitional Trademark Cross-License Agreement.

Section 7.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Ownership</u>. Each Party's Background Assets will remain its exclusive property and nothing herein will be construed as transferring any right, title or interest of any kind or nature whatsoever thereto to the other Party hereto. Medtronic shall own any Intellectual Property developed, conceived or reduced to practice (whether solely or jointly with MiniMed) from the provision of services under a Purchase Order ("<u>Intangible Developments</u>"). In the event that MiniMed or its Affiliates obtains ownership of any Intangible Developments in contravention of the foregoing, MiniMed and its Affiliates hereby irrevocably assign all right, title, and interest in such Intangible Developments to Medtronic and shall execute any documentation to perfect such assignment.

Section 7.3&nbsp;&nbsp;&nbsp;&nbsp;<u>MiniMed License</u>. The Parties agree that the Intellectual Property Cross-License Agreement governs any license to Background Assets. Medtronic, on behalf of itself and its Affiliates, hereby grants to MiniMed and its Affiliates an irrevocable, perpetual, royalty-free, fully paid-up, non-exclusive, sublicensable (only to those Persons providing goods or services to MiniMed but not for the independent use by such Persons or for any other

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purpose), worldwide license under its Intangible Developments to make, have made, have, use, offer to sell and sell, import or otherwise transfer products and services embodying or practicing the Intangible Developments to the extent those Intangible Developments are embedded or included in a Product.

Section 7.4&nbsp;&nbsp;&nbsp;&nbsp;Except as specifically provided in this <u>Article VII</u>, neither Party will use in any way the Intellectual Property of the other Party, and will not do any act which would in any way infringe upon or be in derogation of the validity of such other Party's intellectual property, and will notify the other Party of any conflicting claims that challenge any intellectual property of which such Party is aware.

ARTICLE VIII

<u>CONFIDENTIALITY</u>

Section 8.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Confidential Information</u>. Each Party hereby acknowledges that confidential Information of such Party (and their respective Affiliates) may be exposed to employees and agents of the other Party (and their respective Affiliates) who have a need to know such confidential Information as a result of, or in connection with, the activities contemplated by this Agreement. Each Party agrees, on behalf of itself and its Affiliates, that such Party's obligation to use and keep confidential such Information of the other Party or its Affiliates shall be governed by Section 7.09 of the Separation Agreement. Without limiting the foregoing, MiniMed agrees that Medtronic is permitted to disclose MiniMed Information to and receive MiniMed Information from Third-Party Purchasers for purposes of Medtronic's performance under this Agreement.

Section 8.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Publicity</u>. Each Party agrees, on behalf of itself and its Affiliates, that such Party's obligations with respect to any publicity, news release, public announcement or other public disclosure, written or oral, with respect to the existence of this Agreement or the terms hereof shall be governed by Section 11.07 of the Separation Agreement.

ARTICLE IX

<u>REPRESENTATIONS AND WARRANTIES</u>

Section 9.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Product Warranties</u>. Medtronic hereby represents and warrants to Purchaser that, upon delivery to Purchaser thereof, Products supplied in connection with this Agreement will have been manufactured and provided, in all material respects, in compliance with this Agreement, the Quality Agreement, and the Specifications. Medtronic's sole obligation and MiniMed's exclusive remedy under this warranty shall be, at Medtronic's option, to repair or replace the Product that does not conform to this warranty, provided that MiniMed notifies Medtronic in writing of any nonconformity in accordance with <u>Section 3.6</u> and returns the Product to Medtronic, freight prepaid, for inspection subject to <u>Section 9.4</u> below. This warranty excludes Products that have been (a) altered, modified, or repaired by anyone other than Medtronic without Medtronic's prior written consent; (b) subjected to misuse, abuse, accident, or improper storage, installation, or handling; or (c) used in combination with any equipment,

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software, or materials not specified in the Specifications or reasonably intended for use with the Products.

Section 9.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Applicable Laws</u>. Each Party hereby represents and warrants that it will comply at all times with all Laws applicable to this Agreement and the performance of its obligations hereunder, including the manufacture, sale, purchase, resale or use of the Products.

Section 9.3&nbsp;&nbsp;&nbsp;&nbsp;<u>DISCLAIMER</u>. EXCEPT AS SET FORTH IN THIS AGREEMENT, MEDTRONIC MAKES NO OTHER WARRANTIES OR REPRESENTATIONS, EXPRESS OR IMPLIED, BY OPERATION OF LAW OR OTHERWISE, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, TITLE, OR NON-INFRINGEMENT, ALL OF WHICH ARE HEREBY SPECIFICALLY DISCLAIMED.

Section 9.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Customer Complaints; Defects</u>. In the event of any customer complaint or Product defect, whether from MiniMed, Third-Party Purchaser or a customer of MiniMed, Medtronic will take reasonable steps to determine the root cause of the complaint or quality issue. Such investigation and triage are subject to a fee of $50,000 plus associated costs incurred by Medtronic in connection with the investigation ("<u>Investigation Fee</u>"), unless it is determined that the complaint or quality issue was caused solely by Medtronic's actions. If Medtronic is determined to be partially at fault for the complaint or quality issue, MiniMed shall be responsible for fifty percent (50%) of the Investigation Fee. If it is determined that the Product fails to conform to warranty in <u>Section 9.1</u> due solely to actions taken by Medtronic, Medtronic will provide the remedy set forth in <u>Section 9.1</u>, and the Investigation Fee shall not apply. An entire lot may be rejected based on appropriate sampling by Purchaser as set forth in the Quality Agreement. In the case of such rejection of a lot or shipment, all of the units in the lot or shipment will be considered nonconforming. If it is determined that the nonconformity or defect in the Product is attributable, in whole or in part, to any third party, including any supplier of Medtronic, Purchaser or Purchaser's customer, Medtronic will have no obligation to resolve the issue at its own cost, but may, at its sole discretion, assist in the resolution. MiniMed shall promptly reimburse Medtronic upon request for any costs or expenses incurred by Medtronic in providing such assistance (including, without limitation, personnel time, materials, and third-party charges). Notwithstanding anything to the contrary in this Agreement or the Quality Agreement, Medtronic shall have no liability or obligation in connection with any recall, withdrawal, or field correction of any Product, except to the extent expressly provided in <u>Section</u> <u>9.1</u> (repair, replacement, or credit for nonconforming Products due solely to actions taken by Medtronic). Any additional costs or liabilities associated with any recall, withdrawal, or field correction, including but not limited to notification, logistics, or replacement costs, shall be the sole responsibility of MiniMed.

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ARTICLE X

<u>INDEMNIFICATION; LIMITATION OF LIABILITY</u>

Section 10.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Indemnification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Indemnification by Medtronic.* Medtronic will defend, indemnify, and hold harmless MiniMed and its Affiliates and its and their respective directors, officers, employees, agents and representatives (collectively, the "<u>MiniMed Indemnitees</u>") from and against any and all costs, fees (including reasonable attorneys' fees), expenses, judgments, fines, losses, claims and damages ("<u>Damages</u>") which any MiniMed Indemnitee may incur or suffer from any Third-Party Claim to the extent such Damages arise out of or result from Medtronic's fraud, intentional misconduct, or gross negligence in connection with the performance of its obligations under this Agreement or any Project Order. Notwithstanding the foregoing, Medtronic shall not be liable for Damages to the extent arising from MiniMed's indemnification obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Indemnification by MiniMed.* MiniMed will defend, indemnify, and hold harmless Medtronic and its Affiliates and its and their respective directors, officers, employees, agents and representatives (collectively, the "<u>Medtronic Indemnitees</u>") from and against any and all Damages which any Medtronic Indemnitee may incur or suffer from any Third-Party Claim to the extent such Damages arise out of or result from (i) MiniMed's fraud, intentional misconduct, or gross negligence in connection with the performance of its obligations under this Agreement or any Project Order; (ii) the sale or use of the Products or Finished Goods incorporating the Products, including without limitation, any allegation from a third party that any Product or Finished Good incorporating the Product or the use, sale, offer, design, distribution, possession or importation thereof infringes the rights of any third party, including any intellectual property right; or (iii) Medtronic's manufacturing or supplying Purchasers with the Products pursuant to this Agreement and the applicable Project Orders, other than, in the case of each of clauses (i), (ii), and (iii), Damages against and from which Medtronic is required to indemnify MiniMed Indemnitees under <u>Section 10.1(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Procedures*. The provisions of Section 6.05 of the Separation Agreement shall govern claims for indemnification under this Agreement, provided that, for purposes of this <u>Section 10.1(c)</u>, in the event of any conflict between the provisions of Section 6.05 of the Separation Agreement and this <u>Article X</u>, the provisions of this Agreement shall control.

Section 10.2&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation of Liability</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;IN NO EVENT SHALL MEDTRONIC BE LIABLE TO MINIMED OR ITS AFFILIATES, OR ITS OR THEIR RESPECTIVE REPRESENTATIVES, WHETHER IN CONTRACT, IN TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY) OR OTHERWISE FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES (INCLUDING LOSS OF PROFITS) AS A RESULT OF ANY BREACH, PERFORMANCE OR NON-PERFORMANCE BY MEDTRONIC UNDER THIS

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AGREEMENT OR THE PROJECT ORDERS, EXCEPT AS MAY BE PAYABLE TO A CLAIMANT IN A THIRD-PARTY CLAIM IN ACCORDANCE WITH <u>SECTION 10.1(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;MEDTRONIC'S TOTAL LIABILITY TO MINIMED ARISING OUT OF, RELATED TO OR IN CONNECTION WITH THE PROJECT ORDERS OR THIS AGREEMENT FOR ALL CLAIMS SHALL NOT EXCEED IN THE AGGREGATE AN AMOUNT EQUAL TO THE TOTAL AMOUNT PAID TO MEDTRONIC UNDER THIS AGREEMENT, INCLUDING THE PROJECT ORDERS, IN THE TWELVE (12) MONTHS PRECEDING SUCH CLAIM (THE "<u>CAP</u>"); <u>PROVIDED</u>, THAT (I) IF A CLAIM IS MADE PRIOR TO THE TWELVE (12) MONTH ANNIVERSARY OF THE EFFECTIVE DATE, THE CAP SHALL BE THE TOTAL AMOUNT PAID FOR ALL PROJECT ORDERS FROM THE EFFECTIVE DATE THROUGH THE DATE SUCH CLAIM IS MADE, AND (II) MEDTRONIC'S LIABILITY UNDER THE CAP SHALL BE REDUCED BY THE AGGREGATE AMOUNT OF ANY DAMAGES PREVIOUSLY PAID BY MEDTRONIC IN RESPECT OF ANY PRIOR CLAIMS MADE DURING THE APPLICABLE TWELVE (12) MONTH PERIOD (OR, IF APPLICABLE, THE PERIOD FROM THE EFFECTIVE DATE THROUGH THE DATE OF THE SUBSEQUENT CLAIM).

Section 10.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Scope</u>. No claim may be brought under this Agreement related to any cause of action under the Separation Agreement or any other Ancillary Agreement. Any claims brought under this Agreement must be based solely on the provisions of this Agreement or the Project Orders.

ARTICLE XI

<u>MISCELLANEOUS</u>

Section 11.1&nbsp;&nbsp;&nbsp;&nbsp;<u>Force Majeure</u>. If the performance of any obligation under this Agreement (except payment obligations) is prevented, restricted or interfered due to any force majeure, including, but not limited to, acts of God, natural disaster (including earthquakes, hurricanes, tsunamis, typhoons, lightning, hail storms, blizzards, tornadoes, droughts, floods, cyclones, arctic frosts, mudslides and wildfires), fire, war, terrorism, pandemic, epidemic, theft, quarantine restrictions, civil commotion, strike, labor shortage, slowdown, or the unavailability of labor, governmental regulation, compliance with applicable Law, cyberattack, energy shortage, embargo, acts of any Governmental Authority, systems failure, malfunction or disruption, Internet, electrical, power or other utilities failure, malfunction or disruption, act or omission of any third party or other occurrence beyond the reasonable control of a Party (a "<u>Force Majeure Event</u>") and such non-performance, restriction or interference (i) could not have been prevented by reasonable precautions, and (ii) does not arise as a result of such Party's negligence or breach of this Agreement, then the Party so affected will be excused from such performance during, but no longer than, the continuance of the Force Majeure Event. In the event that either Party ceases to perform its obligations under this Agreement due to the occurrence of a Force Majeure Event, such Party will immediately notify the other Party in writing of such Force Majeure Event and its expected duration and use commercially reasonable efforts, including the use of alternate sources, work-around plans or other means, to recommence performance of its obligations under this Agreement as soon as possible.

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Section 11.2&nbsp;&nbsp;&nbsp;&nbsp;<u>FCPA and International Trade</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;It is the responsibility of Medtronic that all services performed by Medtronic, its affiliates and third party contractors, and their respective employees, officers and directors hereunder be performed so as to comply with all applicable federal, state and municipal laws, regulations, codes, ordinances and orders, and any permit and license conditions as to which Medtronic has or should have knowledge, as the same may be in effect as of the time of the performance of such services; including but not limited to full compliance with (i) the U.S. Foreign Corrupt Practices Act (the "<u>FCPA</u>"), applicable provisions of The Health Insurance Portability and Accountability Act, Good Clinical Practice regulations (ICH-E6 Consolidated Guidance, April 1996), the Code of Federal Regulations (CFR), Title 21, Part 50; and (ii) all applicable trade, import, customs, export control, anti-boycott, and economic sanctions laws and regulations administered under or orders issued by the U.S. Department of Commerce, U.S. Department of State, U.S. Department of the Treasury, U.S. Customs and Border Protection, U.S. Internal Revenue Service, U.S. Department of Homeland Security, U.S. Food and Drug Administration, and any foreign Governmental Authority (collectively, "<u>International Trade</u> <u>Laws</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Medtronic represents and warrants to Purchaser that it (i) has knowledge and understanding of the FCPA and International Trade Laws, and that no principal, partner, officer, director or employee of Medtronic is or will become an official of any Governmental Authority of any country (other than the U.S.) in which Medtronic performs services for Purchaser during the applicable Project Term; (ii) has never been subject to any disciplinary action relating to fraud or corruption by any Governmental Authority; (iii) has never been the subject of litigation involving allegations of fraud or corruption; and (iv) has not been subject to any material investigations or penalties for alleged violations of the International Trade Laws in the past two (2) years. Medtronic covenants that it will (i) comply with all licensing and notification requirements and limitations and restrictions under the International Trade Laws; and (ii) not offer or give any gratuity to induce any person or entity to enter into, execute or perform the Agreement or any other agreement with Purchaser. Medtronic agrees that it will not, in the conduct of its performance under this Agreement, and with regard to any funds, assets, or records relating thereto, offer, pay, give, or promise to pay or give, directly or indirectly, any payment or gift of any money or thing of value to (i) any non-U.S. government official to influence any acts or decisions of such official or to induce such official to use his or her influence with the local government to effect or influence the decision of such government in order to assist Medtronic in its performance of its obligations under this Agreement or to benefit Purchaser; (ii) any political party or candidate for public office for such purpose; or (iii) any person, if Medtronic knows or has reason to know that such money or thing of value will be offered, promised, paid, or given, directly or indirectly, to any official, political party, or candidate for such purpose. In the event of any breach by Medtronic of this <u>Section 11.2(b)</u>: (i) Purchaser will have a lawful claim against Medtronic for any funds and/or the value of property paid by Medtronic in breach of this provision, and (ii) Medtronic will automatically surrender any claim for fees and other payments due under this Agreement.

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Section 11.3&nbsp;&nbsp;&nbsp;&nbsp;<u>Conflict Minerals</u>. For Products delivered to Purchaser under this Agreement, Medtronic shall provide Purchaser, at no additional cost, with assistance and sufficient documentation, as reasonably determined by Purchaser, to enable Purchaser to comply with its obligations under Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "<u>Reform Act</u>") and the rules and regulations promulgated thereunder relating to Conflict Minerals as defined therein, and other similar laws or regulations. Such assistance and documentation may include but shall not be limited to (i) completing and submitting questionnaires or templates relating to the origin of Conflict Minerals contained in the Products (collectively, "<u>Surveys</u>") within the deadline requested by Purchaser; (ii) promptly responding to Purchaser's questions or request for additional information with respect to Medtronic's Survey; and (iii) to the extent the Products contain Conflict Minerals, using diligent efforts to ensure traceability of those metals to the smelter level, including working with Medtronic's sub-Medtronics to identify the origin of the Conflict Minerals. Medtronic agrees to maintain any documentation and data related to Medtronic's obligations under this <u>Section 11.3</u>, including any traceability data, for a period of five (5) years and agrees to provide Purchaser with a copy of such documentation or data promptly upon request. This obligation survives termination or expiration of this Agreement. From time to time, Purchaser has the right to notify Medtronic of changes to the requirements of this <u>Section 11.3</u>.

Section 11.4&nbsp;&nbsp;&nbsp;&nbsp;<u>Independent Contractors</u>. Nothing contained in this Agreement will be construed to constitute either Party as a partner, employee or agent of the other Party, nor will either Party hold itself out as such. Neither Party has any right or authority to incur, assume or create, in writing or otherwise, any warranty, liability or other obligation of any kind, express or implied, in the name or on behalf of the other Party, it being intended by Purchaser and Medtronic that each will remain an independent contractor responsible for its own actions. Except as otherwise provided herein, each Party will be responsible for its own expenses incidental to the performance of its obligations hereunder.

Section 11.5&nbsp;&nbsp;&nbsp;&nbsp;<u>Assignment; Binding Effect</u>. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns; <u>provided</u> that neither this Agreement nor any of the rights, interests or obligations hereunder may be assigned or delegated by either Party without the express prior written consent of the other Party, except that each Party may, in fulfilling its obligations hereunder, transfer or assign, in whole or from time to time in part, its rights, interests and obligations under this Agreement to any Affiliate of such Party without the consent of the other Party. Any purported assignment or transfer in violation of this <u>Section 11.5</u> shall be null and void and of no effect.

Section 11.6&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments and Waivers</u>. This Agreement may not be amended or modified except by an instrument in writing signed on behalf of each of the Parties. By an instrument in writing, MiniMed, on the one hand, or Medtronic, on the other hand, may waive compliance by the other Party with any term or provision of this Agreement that the other Party was or is obligated to comply with or perform. Such waiver or failure to insist on strict compliance with such term or provision shall not operate as a waiver of, or estoppel with respect to, any subsequent or other failure of compliance.

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Section 11.7&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. All notices or other communications under this Agreement shall be in writing and shall be provided in the manner set forth in the Separation Agreement.

Section 11.8&nbsp;&nbsp;&nbsp;&nbsp;<u>Interpretation</u>. For the purposes of this Agreement, (a) words in the singular shall be held to include the plural and vice versa, and words of one gender shall be held to include the other gender as the context requires; (b) references to the terms Article, Section, paragraph, Exhibit and Schedule are references to the Articles, Sections, paragraphs, Exhibits and Schedules to this Agreement unless otherwise specified; (c) the terms "hereof," "herein," "hereby," "hereto," and derivative or similar words refer to this entire Agreement, including the Schedules and Exhibits hereto and the words "date hereof" refer to the date of this Agreement; (d) references to "Dollars" or "$" shall mean U.S. dollars; (e) the word "including" and words of similar import when used in this Agreement shall mean "including, without limitation," unless otherwise specified; (f) the word "or" shall not be exclusive; (g) references to "written" or "in writing" include in electronic form; (h) provisions shall apply, when appropriate, to successive events and transactions; (i) the headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement; (j) Seller and Purchaser have each participated in the negotiation and drafting of this Agreement and if an ambiguity or question of interpretation should arise, this Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or burdening any Party by virtue of the authorship of any of the provisions in this Agreement; (k) a reference to any Person includes such Person's successors and permitted assigns; (l) any reference to "days" means calendar days unless Business Days are expressly specified; (m) when calculating the period of time before which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded and if the last day of such period is not a Business Day, the period shall end on the next succeeding Business Day; (n) any Law defined or referred to in this Agreement or in any agreement or instrument that is referred to herein means such Law as from time to time amended, modified or supplemented, including (in the case of statutes) by succession of comparable successor Laws and the related regulations thereunder and published interpretations thereof, and references to any contract or instrument are to that contract or instrument as from time to time amended, modified or supplemented; (o) to the extent that this Agreement requires an Affiliate of any Party to take or omit to take any action, such covenant or agreement includes the obligation of such Party to cause such Affiliate to take or omit to take such action; and (p) the phrase "ordinary course of business" shall be construed to mean an action taken, or omitted to be taken, by any person in the ordinary course of such person's business.

Section 11.9&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u>. This Agreement may be executed in two (2) or more counterparts, all of which shall be considered one and the same agreement, and shall become effective when one (1) or more such counterparts have been signed by each Party and delivered (by facsimile, email, or otherwise) to the other Party. Signatures to this Agreement transmitted by facsimile transmission, by electronic mail in "portable document format" from, or by any other electronic means intended to preserve the original graphic and pictorial appearance of a

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document, will have the same effect as physical delivery of the paper document bearing the original signatures.

Section 11.10&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u>. Each Exhibit, Annex and Schedule attached to or referenced in this Agreement is hereby incorporated into and shall form a part of this Agreement by reference. This Agreement, the Separation Agreement, the other Ancillary Agreements and the Exhibits, Annexes and Schedules hereto and thereto, constitute the entire agreement between the Parties with respect to the subject matter of this Agreement and supersede all prior discussion, correspondence, negotiation, proposed term sheet, agreement, understanding or arrangement, both written and oral, and there are no agreements, understandings, representations or warranties between the Parties with respect to the subject matter of this Agreement other than those set forth or referred to in this Agreement. Nothing contained in this Agreement or the Project Orders is intended or shall be construed to amend or modify in any respect, or constitute a waiver of, any of the rights and obligations of the parties under the Separation Agreement.

Section 11.11&nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other competent authority to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated. Upon such a determination, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner.

Section 11.12&nbsp;&nbsp;&nbsp;&nbsp;<u>Absence of Presumption; No Admission</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Party has participated in the negotiation and drafting of this Agreement and if an ambiguity or question of interpretation should arise, this Agreement shall be construed as if drafted jointly by the Parties thereto. No presumption or burden of proof shall arise favoring or burdening either Party by virtue of the authorship of any of the provisions in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Nothing herein shall be deemed an admission by either Party or any of its Affiliates, in any proceeding or action, that such Party or any such Affiliate, or any third party, is or is not in breach or violation of, or in default in, the performance or observance of any term or provisions of any Contract.

Section 11.13&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law and Jurisdiction</u>. Any disputes arising out of, related to or in connection with this Agreement, including, without limitation, as to its execution, performance, or enforcement, shall be governed by, and construed in accordance with, the Laws of the State of Delaware, regardless of the Laws that might otherwise govern under applicable principles of conflicts of Laws thereof. Each Party irrevocably consents to the exclusive jurisdiction, forum and venue of the Court of Chancery of the State of Delaware or, if (and only if) the Court of Chancery of the State of Delaware finds it lacks subject matter jurisdiction, the federal court of the United States sitting in Delaware or, if (and only if) the federal court of the United States sitting in Delaware finds it lacks subject matter jurisdiction, the Superior Court of

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the State of Delaware, and appellate courts thereof, over any and all claims, disputes, controversies or disagreements between the Parties or any of their respective Affiliates, successors and assigns under or related to this Agreement or any document executed pursuant to this Agreement or any of the transactions contemplated hereby or thereby. Each Party agrees that a final, unappealable judgment or order in any legal proceeding resolved in accordance with this <u>Section 11.13</u>, <u>Section 11.14</u>, and <u>Section 11.15</u> shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable Law. Each Party agrees that service of any process, summons, notice or document upon such Party in any such Proceeding shall be effective if notice is given in accordance with <u>Section 11.7</u>.

Section 11.14&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver of Jury Trial</u>. EACH OF THE PARTIES ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH OF THE PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT. EACH OF THE PARTIES CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT, IN THE EVENT OF ANY LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH OF THE PARTIES UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH OF THE PARTIES MAKES THIS WAIVER VOLUNTARILY, AND (D) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT OR INSTRUMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS SET FORTH ABOVE IN THIS <u>SECTION 11.14</u>. NO PARTY HAS IN ANY WAY AGREED WITH OR REPRESENTED TO ANY OTHER PARTY THAT THE PROVISIONS OF THIS <u>SECTION</u> <u>11.14</u> WILL NOT BE FULLY ENFORCED IN ALL INSTANCES.

Section 11.15&nbsp;&nbsp;&nbsp;&nbsp;<u>Specific Performance</u>. In the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the affected Party shall have the right to specific performance and injunctive or other equitable relief of its rights under this Agreement, in addition to any and all other rights and remedies at Law or in equity, and all such rights and remedies shall be cumulative. The Parties agree that the remedies at Law for any breach or threatened breach hereof, including monetary damages, are inadequate compensation for any loss and that any defense in any action for specific performance that a remedy at Law would be adequate is waived. Any requirements for the securing or posting of any bond with such remedy are waived.

Section 11.16&nbsp;&nbsp;&nbsp;&nbsp;<u>No Third-Party Beneficiaries</u>. Except as expressly provided in this Agreement with respect to the Parties, no person other than the Parties shall have any rights or benefits under this Agreement, whether as a third-party beneficiary or otherwise.

[Signature page follows]

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IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their respective duly authorized representatives as of the Effective Date.

---

| |
|:---|
| MEDTRONIC, INC. |
| By: /s/ Chris Eso |
| &nbsp;&nbsp;&nbsp;&nbsp;Name: Chris Eso |
| &nbsp;&nbsp;&nbsp;&nbsp;Title: Vice President |
| MEDTRONIC MINIMED, INC. |
| By: /s/ Courtney Nelson Wills |
| &nbsp;&nbsp;&nbsp;&nbsp;Name: Courtney Nelson Wills |
| &nbsp;&nbsp;&nbsp;&nbsp;Title: Vice President and Secretary |

---

------

**EXHIBIT A**

**<u>Bailment Agreement</u>**

------

**EXHIBIT B**

**<u>Governance</u>**

## Exhibit 10.13

**Exhibit 10.13**

**MINIMED GROUP, INC.**

**NON-EMPLOYEE DIRECTOR COMPENSATION POLICY**

Adopted and approved March 6, 2026

This Non-Employee Director Compensation Policy (this "<u>Policy</u>") sets forth the compensation for members of the Board of Directors (the "<u>Board</u>") of MiniMed Group, Inc. (the "<u>Company</u>") who are not-then serving as employees of (i) the Company or (ii) Medtronic plc ("<u>Medtronic</u>") (for so long as Medtronic beneficially owns a majority of the voting power of the Company's outstanding shares of common stock), in each case including any of their respective subsidiaries or affiliates (each, a "<u>Non-Employee Director</u>").

Each Non-Employee Director shall receive (i) an annual cash retainer (an "<u>Annual Cash Retainer</u>") and (ii) an annual grant of restricted stock units (an "<u>Annual RSU Award</u>") granted under the MiniMed Group, Inc. 2026 Long Term Incentive Plan (the "<u>Plan</u>"), as described below. Unless otherwise defined herein, capitalized terms used in this Policy shall have the meaning given such term in the Plan.

**1.<u>ANNUAL CASH RETAINER</u>**

Unless otherwise determined by the Board, the Nominating and Corporate Governance Committee of the Board (the "<u>Committee</u>") or any other committee designated by the Board, the annual cash compensation payable to the Non-Employee Directors shall consist of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each Non-Employee Director shall receive a $70,000 Annual Cash Retainer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any Non-Employee Director who serves as the non-executive chair of the Board shall receive an additional $70,000 Annual Cash Retainer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any Non-Employee Director who serves on a committee of the Board shall receive an additional Annual Cash Retainer in the applicable amount set forth below:

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| | |
|:---|:---|
| Chair, Audit Committee | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25000 |
| Chair, Compensation and Talent Committee | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$20000 |
| Chair, Nominating and Corporate Governance Committee | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15000 |
| Member, Audit Committee | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12500 |
| Member, Compensation and Talent Committee | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10000 |
| Member, Nominating and Corporate Governance Committee | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7500 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A Non-Employee Director serving as chair of a committee shall receive only the applicable additional Annual Cash Retainer for service as chair and shall not receive any additional Annual Cash Retainer for service as a member of the same committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Annual Cash Retainer shall be paid in arrears in quarterly installments.

**2.<u>ANNUAL RSU AWARD</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each Non-Employee Director shall receive an Annual RSU Award with a grant date target value of $250,000.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Annual RSU Award shall be granted on the date of the Company's annual shareholder meeting, unless otherwise determined by the Board, the Committee, or any other committee designated by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Annual RSU Award shall vest on the one-year anniversary of the grant date, subject to the Non-Employee Director's continued service on the Board through such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The remaining terms and conditions of each Annual RSU Award shall be as set forth in a written award agreement in a form adopted by the Board from time to time.

**3.<u>GENERAL</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• For the avoidance of doubt, no member of the Board shall be eligible to receive any compensation under this Policy, including any cash retainers or equity awards, for any period during which such member is then-serving as an employee of the Company or Medtronic (for so long as Medtronic beneficially owns a majority of the voting power of the Company's outstanding shares of common stock), in each case including any of their respective subsidiaries or affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If a Non-Employee Director begins or ends service other than on the first or last day of a fiscal quarter, the Annual Cash Retainer (including any additional committee or chair retainer) otherwise payable for that quarter shall be prorated based on the number of days served during the quarter divided by the total number of days in the quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If a Non-Employee Director begins or ends service during the one-year period following the grant date of an Annual RSU Award, the portion of the Annual RSU Award that vests shall be prorated based on the number of days served during such one-year period divided by three hundred sixty-five (365). Any portion of the Annual RSU Award that does not vest as a result of such proration shall be forfeited without consideration and shall revert to the Company in accordance with the applicable award agreement. The Company shall settle any vested portion of the Annual RSU Award in shares of the Company's common stock in accordance with the terms of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• It is intended that this Policy and all payments hereunder either be exempt from, or comply with, Section 409A of the Internal Revenue Code of 1986, as amended ("<u>Section 409A</u>"), and this Policy shall be interpreted accordingly. In no event shall the Company reimburse any Non-Employee Director for taxes or other costs incurred under Section 409A. For purposes of Section 409A, each payment under this Policy shall be treated as a separate payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each Non-Employee Director shall be solely responsible for any taxes arising from the Annual Cash Retainer and the Annual RSU Award granted to such Non-Employee Director under this Policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each Non-Employee Director is expected to comply with the Company's stock ownership guidelines for Non-Employee Directors, as in effect from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Board, the Committee, or any other committee designated by the Board may amend, suspend, or terminate this Policy at any time.

## Exhibit 10.14

**Exhibit 10.14**

**MINIMED GROUP, INC.**

**NON-EMPLOYEE DIRECTOR**

**RESTRICTED STOCK UNIT AWARD AGREEMENT** 

**2026 MINIMED GROUP, INC. LONG TERM INCENTIVE PLAN**

Name: [●]

Grant Date: March 9, 2026

Grant Price: [●]

Grant Type: Restricted Stock Unit

Shares Awarded: [●]

1.**<u>Grant of Restricted Stock Units</u>**. MiniMed Group, Inc., a Delaware corporation (the "<u>Company</u>"), hereby awards to the individual named above Restricted Stock Units, in the number and on the Grant Date as each is set forth above. The Restricted Stock Units represent the right to, upon vesting, receive shares of common stock of the Company, par value $0.01 per share (the "<u>Shares</u>"), subject to the restrictions, limitations, and conditions contained in this Restricted Stock Unit Award Agreement (this "<u>Agreement</u>") and in the 2026 MiniMed Group, Inc. Long Term Incentive Plan (the "<u>Plan</u>"). Unless otherwise defined in this Agreement, a capitalized term in this Agreement will have the same meaning as in the Plan. In the event of any inconsistency between the terms of this Agreement and the Plan, the terms of the Plan will govern.

2.**<u>Vesting</u>**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.&nbsp;&nbsp;&nbsp;&nbsp;**Vesting Schedule**. The Restricted Stock Units will vest 100% on the first anniversary of the Grant Date (such date, the "<u>Vesting Date</u>"). The Company will issue to you a number of Shares equal to the number of Restricted Stock Units that have vested, *plus* any dividend equivalents, if any, earned thereon, as described in Section 4, below, as soon as reasonably practicable following the earlier of the Vesting Date or the Departure Date (as defined below), but no later than six (6) weeks thereafter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding Section 2(a), if you incur a "separation from service" from the Company (within the meaning of Section 409A of the Code) prior to the Vesting Date, and the date of such separation from service (the "<u>Departure Date</u>") occurs on or after the sixtieth (60<sup>th</sup>) day following the Grant Date (unless such requirement is waived by the Company in its sole discretion), a prorated number of Restricted Stock Units will immediately vest as of the Departure Date, calculated by multiplying the total number

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of Restricted Stock Units by a fraction, the numerator of which is the number of days from the Grant Date through the Departure Date and the denominator of which is three hundred sixty-five (365). Any Restricted Stock Units that do not vest as of the Departure Date will be forfeited without consideration. The Company will issue to you (or your Successor, as applicable) a number of Shares equal to number of Restricted Stock Units that vest pursuant to this Section 2(b) *plus* any dividend equivalents, if any, earned thereon, as described in Section 4, below, as soon as reasonably practicable following the earlier of the Vesting Date or the Departure Date, but no later than six (6) weeks thereafter. "<u>Successor</u>" shall mean the legal representative of your estate or the person or persons who may, by bequest, inheritance or valid beneficiary designation (as provided in Section 15.7 of the Plan), acquire the right to your Restricted Stock Units.

3.**<u>Change of Control</u>**. Notwithstanding any other provision of this Agreement, the Restricted Stock Units shall be subject to the provisions of Section 10 of the Plan.

4.**<u>Dividend Equivalents</u>**. In the event that the Company declares and pays a cash dividend on the Shares, you will be entitled to receive dividend equivalents on the Restricted Stock Units generally in the same manner and at the same time as if each Restricted Stock Unit were a Share. For the avoidance of doubt, no dividend equivalents shall be payable unless and until the Company declares and pays a dividend on the Shares. Any such dividend equivalents will be credited to you in the form of additional Restricted Stock Units. The additional Restricted Stock Units will be subject to the terms (including the vesting requirements) of this Agreement.

5.**<u>Clawback; Repayment</u>**. The Restricted Stock Units shall be subject to reduction, cancellation, forfeiture or recoupment to the extent necessary to comply with: (i) any clawback, forfeiture or other similar policy adopted by the Board or the Committee and as in effect from time to time (including the Company's Policy for the Recovery of Erroneously Awarded Compensation, as may be amended from time to time) and (ii) applicable law. In addition, if you receive any amount in excess of the amount that you should have otherwise received under the terms of the Restricted Stock Units for any reason (including, without limitation, by reason of a financial restatement, mistake in calculations or other administrative error), the Committee may provide that you shall be required to repay any such excess amount to the Company and its Subsidiaries.

6.**<u>Withholding Taxes</u>**. You are responsible for the federal, state and local taxes due upon the distribution of the Shares.

7.**<u>Limitation of Rights</u>**. Except as set forth in this Agreement, until the Shares are issued to you in settlement of your Restricted Stock Units, you do not have any right in, or with respect to, any Shares (including any voting rights) by reason of this Agreement. Further, you may not transfer or assign your rights under this Agreement and you do not have any

------

rights in the Company's assets that are superior to a general, unsecured creditor of the Company by reason of this Agreement.

8.**<u>Section 409A of the Code</u>**. The Company intends that payments under this Agreement shall comply with Section 409A of the Code, to the extent applicable, and this Agreement and the Restricted Stock Units shall be interpreted and administered consistent with that intent. For purposes of Section 409A, to the extent the Restricted Stock Units constitute "deferred compensation" within the meaning of Section 409A, each payment or benefit shall be treated as a separate and distinct payment. Notwithstanding the foregoing, if you are a "specified employee" within the meaning of Section 409A(a)(2)(B)(i) of the Code, any amounts that would otherwise be payable, or benefits that would otherwise be provided, during the six (6)-month period following your separation from service shall be delayed and paid in a lump sum on the first business day following the date that is six (6) months after your separation from service (or, if earlier, your death), to the extent required by Section 409A of the Code. The Company makes no representation that any payment or benefit under this Agreement is exempt from, or compliant with, Section 409A of the Code and shall have no liability for any tax, interest, or penalty imposed under Section 409A of the Code, or for any damages resulting from a failure to comply with Section 409A of the Code.

9.**<u>Compliance with the Law</u>**. The issuance or transfer of Shares pursuant to this grant of Restricted Stock Units are subject to compliance by both the Company and you with all applicable federal and state securities laws and the rules of any stock exchange on which the Company's Shares are listed. The Company will not issue any Shares pursuant to this grant of Restricted Stock Units unless and until it determines, in its sole discretion and with the advice of its counsel, that all applicable legal and regulatory requirements have been satisfied. You acknowledge that the Company has no obligation to register the Shares with the Securities and Exchange Commission, any state securities authority, or any stock exchange in order to permit the transfer of Shares.

10.**<u>Notices</u>**. Any notice required or permitted to be delivered to the Company under this Agreement shall be in writing and addressed to Courtney Nelson Wills, Senior Vice President, General Counsel, at the Company's principal corporate offices (or to such other address as the Company may designate in writing). Any notice required or permitted to be delivered to you under this Agreement shall be in writing and addressed to you at your address as reflected in the Company's records (or to such other address as you may designate in writing or by such other method approved by the Company).

11.**<u>Governing Law, Venue and Personal Jurisdiction</u>**. Notwithstanding anything contrary in the Plan or Section 14 of this Agreement, the validity, enforceability, construction and interpretation of the Plan or this Agreement shall be governed by the laws of the State of Delaware, without regard to principles of conflict of laws. You irrevocably waive any right to have the laws of any state or nation or other legal jurisdiction other than the State of Delaware apply to the Plan or this Agreement. Any dispute regarding the Plan or this Agreement that is not subject to Section 16 or is allowed to be brought in court pursuant

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to Section 16 ("<u>Permitted Court Action</u>") shall be exclusively decided by a state court in the State of Delaware, and you irrevocably waive any right to have any such disputes decided in any jurisdiction or venue other than a state court in the State of Delaware. You irrevocably consent to the personal jurisdiction of the state courts in the State of Delaware for the purposes of any Permitted Court Action, and irrevocably waive any right to remove any case commenced by the Company from a state court in the State of Delaware to any federal court.

12.**<u>Arbitration Agreement</u>**. If you are a U.S. based employee, this Section 12 contains the terms and conditions of an agreement to arbitrate claims (the "<u>Arbitration Agreement</u>") between you and the Company. The Federal Arbitration Act ("<u>FAA</u>") (9 U.S.C. §1 et. seq.) applies to and governs this Arbitration Agreement. All claims and disputes covered by this Arbitration Agreement will be decided by a single arbitrator through final and binding arbitration **and not by way of court or jury trial**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.&nbsp;&nbsp;&nbsp;&nbsp;<u>Covered Claims</u>. You and the Company agree that, except as otherwise provided in this Arbitration Agreement, all claims or disputes, past, present, or future, arising out of or related to: (i) this Agreement, (ii) the Award, or (iii) the Plan (including, without limitations, claims for breach of contract, breach of fiduciary duty, and claims for violation of any federal, state, or other governmental law, statute, regulation, or ordinance) will be decided by a single arbitrator through final and binding arbitration under the terms of this Arbitration Agreement. This Arbitration Agreement applies to any disputes that the Company may have against you or that you may have against the Company, and/or any of its past, present, or future (A) officers, directors, members, owners, shareholders, employees, and board members; (B) parents, subsidiaries, and affiliates; (C) Plan Administrators and Committee members or Committees (as those terms are defined in the Plan); and (D) predecessors, successors, or assigns. Each and all of the entities/individuals listed in the preceding sentence may enforce this Arbitration Agreement as a direct or third-party beneficiary. If any claim(s) not covered under this Arbitration Agreement are combined with claims that are covered under this Arbitration Agreement, to the maximum extent permitted under applicable law, the covered claims will be arbitrated and continue to be covered under this Arbitration Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.&nbsp;&nbsp;&nbsp;&nbsp;The arbitrator, and not any federal, state, or local court or agency, shall have exclusive authority to resolve any dispute relating to the scope, interpretation, applicability, enforceability, or waiver of this Arbitration Agreement. However, the preceding sentence does not apply to Section 12(e). Notwithstanding any other clause or language in this Arbitration Agreement and/or any rules or procedures that might otherwise apply by virtue of this Arbitration Agreement, any claim that all or any portion of the Class Action Waiver (as defined below) is unenforceable, inapplicable,

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unconscionable, or void or voidable, will be determined only by a court of competent jurisdiction and not by an arbitrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations</u>. This Arbitration Agreement does not cover any claims or disputes that an applicable federal statute expressly states cannot be arbitrated or subject to a pre-dispute arbitration agreement. Both the Company and you may apply to a court of competent jurisdiction as permitted in this Arbitration Agreement for temporary or preliminary injunctive relief in connection with an arbitrable controversy, but only upon the ground that the award to which that party may be entitled may be rendered ineffectual without such relief. The court to which the application is made is authorized to grant temporary or preliminary injunctive relief and may do so with or without addressing the merits of the underlying arbitrable dispute, as provided by applicable law of the jurisdiction. All determination of final relief will be decided in arbitration, and the pursuit of temporary or preliminary injunctive relief shall not be deemed incompatible with or constitute a waiver of rights under this Arbitration Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedures</u>. The arbitration will be administered by the American Arbitration Association ("<u>AAA</u>"), and except as provided in this Arbitration Agreement, will be under the then current Commercial Arbitration Rules of the AAA (the "<u>AAA Rules</u>"); provided, however, that if there is a conflict between the AAA Rules and this Arbitration Agreement, this Arbitration Agreement shall govern. Unless the parties jointly agree otherwise, the arbitrator must be a retired judge from any jurisdiction. Unless the parties jointly agree otherwise, the arbitration will take place in the county where you are employed or were last employed by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The arbitrator will be selected as follows: AAA will give each party a list of eleven (11) potential arbitrators (who are subject to the qualifications of the preceding paragraph) drawn from its panel of arbitrators from which the parties will strike alternately by telephone conference administered by AAA, with the claimant to strike first, until only one name remains. That person will be designated as the arbitrator. If the individual selected cannot serve, AAA will issue another list of eleven (11) potential arbitrators and repeat the alternate striking selection process. If AAA will not administer the arbitration, either party may apply to a court of competent jurisdiction with authority over the location where the arbitration will be conducted to appoint a neutral arbitrator, who shall act under this Arbitration Agreement with the same force and effect as if he or she had been specifically named herein.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;The arbitrator may award any remedy to which a party is entitled under applicable law, but remedies will be limited to those that would be available to a party in their individual capacity for the claims presented to the arbitrator. Either party may file dispositive motions, including without limitation a motion to dismiss and/or a motion for summary judgment and the arbitrator will apply the standards governing such motions under the Federal Rules of Civil Procedure. A party may make an offer of judgment in a manner consistent with, and within the time limitations, consequences, and effects provided in Rule 68 of the Federal Rules of Civil Procedure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp; The arbitrator will issue an award by written opinion within thirty (30) days from the date the arbitration hearing concludes. The opinion will be in writing and include the factual and legal basis for the award. The award issued by the arbitrator may be entered in any court of competent jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.&nbsp;&nbsp;&nbsp;&nbsp;<u>Class and Collective Action Waivers</u>. You and the Company agree to bring any claim on an individual basis. Accordingly, YOU AND THE COMPANY WAIVE ANY RIGHT FOR ANY DISPUTE TO BE BROUGHT, HEARD, DECIDED OR ARBITRATED AS A CLASS ACTION AND/OR COLLECTIVE ACTION AND THE ARBITRATOR WILL HAVE NO AUTHORITY TO HEAR OR PRESIDE OVER ANY CLASS AND/OR COLLECTIVE ACTION ("<u>Class Action Waiver</u>"). Additionally, no arbitration proceeding under this Arbitration Agreement may be consolidated or joined in any way with an arbitration proceeding involving claims by different employees. The Class Action Waiver will be severable from this Arbitration Agreement if there is a final judicial determination that the Class Action Waiver is invalid, unenforceable, unconscionable, void, or voidable. In such case, the class and/or collective action must be litigated in a civil court of competent jurisdiction—not in arbitration—but any portion of the Class Action Waiver that is enforceable shall be enforced in arbitration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.&nbsp;&nbsp;&nbsp;&nbsp;<u>Discovery</u>. Each party may take the deposition of three (3) individual fact witnesses and any expert witness designated by another party. Each party may also propound requests for production of documents, and each party may subpoena witnesses and documents for discovery or the arbitration hearing, including testimony and documents relevant to the case from third parties, in accordance with any applicable state or federal law. Additional discovery may be conducted by mutual stipulation, and the arbitrator will have exclusive authority to entertain requests for additional discovery, and to grant or deny such requests, based on the arbitrator's determination whether additional discovery is warranted by the circumstances of a particular case.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g.&nbsp;&nbsp;&nbsp;&nbsp;<u>Construction</u>. Subject to Section 12(e), which includes its own severability provision, if any provision of this Arbitration Agreement is adjudged to be invalid, unenforceable, unconscionable, or void or voidable, in whole or in part, such adjudication will not affect the validity of the remainder of the Arbitration Agreement. All remaining provisions will remain in full force and effect. The mutual promises by the Company and you to arbitrate provide consideration for this Arbitration Agreement. Your entitlement to an Award provides additional and separate consideration for this Arbitration Agreement. Any contractual disclaimers the Company has in any handbooks, other agreements, or policies do not apply to this Arbitration Agreement. Notwithstanding any contrary language in the Agreement or otherwise, this Arbitration Agreement will survive the termination of the Agreement, the Plan, your employment and the expiration of any benefit.

13.**<u>Electronic Documents</u>**. Electronic documents may be substituted for any written materials required by the terms of the Plan, including without limitation, this Agreement.

14.**<u>Agreement</u>**. By accepting your stock grant electronically on the administrator's website or otherwise accepting or receiving the stock grant, you agree to be bound by the terms and conditions of this Agreement and the Plan, including, without limitation, the Arbitration Agreement. Your signature is not required in order to make this Agreement effective. In addition, you shall be deemed to have accepted and agreed to the terms and conditions of this Agreement and the Plan unless you provide written notice of your objection to the Company within thirty (30) days following the date of receipt of this Agreement.

MiniMed Stock Compensation Operations

MiniMed Group, Inc.

18000 Devonshire St.,

Northridge, CA 91325

<u>rs.minimed-stockcompoperations@medtronic.com</u>

(763) 514-4000

## Exhibit 10.15

**Exhibit 10.15**

**2026 MINIMED GROUP, INC.**

**LONG TERM INCENTIVE PLAN**

**Section 1. Purpose; Definitions**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.1&nbsp;&nbsp;&nbsp;&nbsp;Purpose**

The purpose of this 2026 MiniMed Group, Inc. Long Term Incentive Plan (this "<u>Plan</u>") is to give MiniMed Group, Inc., a Delaware corporation (the "<u>Company</u>") and its Subsidiaries (as defined below) a competitive advantage in attracting, retaining, and motivating officers, employees, directors, and consultants and to provide the Company and its Subsidiaries with an incentive plan that gives officers, employees, directors, and consultants financial incentives directly linked to shareholder value. This Plan is intended to serve as the Company's primary vehicle for equity compensation awards and long-term cash incentive awards for employees, directors, and other service providers, as well as annual bonus awards for the Company's executive officers. Following the date that this Plan is approved by the Company's shareholders, no further equity compensation awards will be granted pursuant to any other Company plan (it being understood that outstanding awards under such plans will continue to be settled pursuant to the terms of such plans). The Plan was adopted by the board of directors of the Company on March 5, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.2&nbsp;&nbsp;&nbsp;&nbsp;Definitions**

Certain terms used herein have definitions given to them in the first place in which they are used. In addition, for purposes of this Plan, the following terms are defined as set forth below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Act</u>" means the Securities Exchange Act of 1934, as amended from time to time, including any regulations promulgated thereunder and any successor thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Administrator</u>" shall have the meaning set forth in Section 2.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Applicable Exchange</u>" means the Nasdaq Global Select Market or such other securities exchange as may at the applicable time be the principal market for the Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Award</u>" means an Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Other Stock-Based Award, or Performance Award granted pursuant to the terms of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Award Agreement</u>" means a written document or agreement setting forth the terms and conditions of a specific Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Beneficial Owner</u>" shall have the meaning given in Rule 13d-3, promulgated pursuant to the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Board</u>" means the Board of Directors of the Company.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Business Combination</u>" shall have the meaning set forth in <u>Section 10.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Cause</u>" means, unless otherwise provided in an Award Agreement, (i) "Cause" as defined in any Individual Agreement to which the applicable Participant is a party and which is operative at the time in question, or (ii) if there is no such Individual Agreement, or if it does not define "Cause": (A) commission by the Participant of a felony under federal law, local law or the law of the state in which such action occurred, (B) failure on the part of the Participant to perform such Participant's employment duties in any material respect, (C) the Participant's prolonged absence from duty without the consent of the Company, (D) intentional engagement by the Participant in any activity that is in conflict with or adverse to the business or other interests of the Company, or (E) willful misconduct or malfeasance of duty which is reasonably determined to be detrimental to the Company. Notwithstanding the general rule of <u>Section 2.3</u>, following a Change of Control, any determination by the Committee as to whether "Cause" exists shall be subject to de novo review.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Change of Control</u>" shall have the meaning set forth in <u>Section 10.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Code</u>" means the Internal Revenue Code of 1986, as amended from time to time, and any successor thereto, regulations promulgated thereunder, and other relevant interpretive guidance issued by the Internal Revenue Service or the Treasury Department. Reference to any specific section of the Code shall be deemed to include such regulations and guidance, as well as any successor provision of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Committee</u>" means a committee or subcommittee of the Board, appointed from time to time by the Board, which committee or subcommittee shall consist of two or more non-employee directors, each of whom is intended to be, to the extent required by Rule 16b-3, a "non-employee director" as defined in Rule 16b-3. Initially, and unless and until otherwise determined by the Board, "Committee" means the Compensation and Talent Committee of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Company</u>" means MiniMed Group, Inc., a Delaware corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Disaffiliation</u>" means a Subsidiary's ceasing to be a Subsidiary for any reason (including, without limitation, as a result of a public offering, or a spinoff or sale by the Company, of the stock of the Subsidiary) or a sale of a division of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Effective Date</u>" shall have the meaning set forth in <u>Section 12.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Eligible Individuals</u>" means directors, officers, employees, and consultants of the Company or any Subsidiary, and prospective employees, officers and consultants, who have accepted offers of employment or consultancy from the Company or any Subsidiary; provided however, that no grant shall be effective prior to the date on which such individual's employment or consultancy commences.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Fair Market Value</u>" means, unless otherwise determined by the Committee, the closing price of a Share on the Applicable Exchange on the date of measurement or, if Shares

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were not traded on the Applicable Exchange on such measurement date, on the next preceding date on which Shares were traded, all as reported by such source as the Committee may select in its discretion. If the Shares are not listed on a national securities exchange, Fair Market Value shall be determined by the Committee in its good faith discretion, taking into account, to the extent appropriate, the requirements of Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Free-Standing SAR</u>" shall have the meaning set forth in <u>Section 5.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Full-Value Award</u>" means any Award other than an Option, Stock Appreciation Right, or Performance Cash Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Good Reason</u>" for termination means, unless otherwise provided in an Award Agreement, a Termination of Employment during the two-year period following a Change of Control by a Participant if (i) such Termination of Employment constitutes a termination for "good reason" or qualifies under any similar constructive termination provision, in either case, in any Individual Agreement applicable to such Participant, or (ii) if the Participant is not party to any such Individual Agreement, or if such Individual Agreement does not contain such a provision, any Termination of Employment following the occurrence of: (A) an involuntary relocation that increases the Participant's commute by more than 50 miles from the commute in effect immediately prior to the applicable Change of Control, (B) a material reduction in either the Participant's base pay or in the Participant's overall compensation opportunity from the levels in effect immediately prior to the applicable Change of Control or (C) a material reduction in the Participant's authority, duties or responsibilities below the levels in effect immediately prior to the applicable Change of Control. Notwithstanding the foregoing, a Termination of Employment shall be deemed to be for Good Reason under clause (ii) of this <u>Section 1.2(t)</u> only if the Participant provides written notice to the Company of the existence of one or more of the conditions giving rise to Good Reason within 90 days of the initial existence of such condition, the Company fails to cure such condition during the 30-day period (the "Cure Period") following its receipt of such notice, and the Participant terminates employment within 180 days following the conclusion of the Cure Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Grant Date</u>" means (i) the date on which the Committee (or its delegate, if applicable) takes action to select an Eligible Individual to receive a grant of an Award and determines the number of Shares to be subject to such Award, or (ii) such later date as is provided by the Committee (or its delegate, if applicable).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Incentive Stock Option</u>" means any Option that is designated in the applicable Award Agreement as an "incentive stock option" within the meaning of Section 422 of the Code or any successor provision thereto, and that in fact qualifies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Incumbent Directors</u>" shall have the meaning set forth in <u>Section 10.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Individual Agreement</u>" means an employment, consulting, severance, change of control, or similar agreement between a Participant and the Company or between the Participant and any of the Company's Subsidiaries. For purposes of this Plan, an Individual Agreement shall be considered "operative" during its term; provided, that an Individual Agreement under which

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severance or other substantive protections, compensation and/or benefits are provided only following a change of control or termination of employment in anticipation of a change of control shall not be considered "operative" until the occurrence of a Change of Control or Termination of Employment in anticipation of a Change of Control, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;&nbsp;"<u>ISO Eligible Employee</u>" means an employee of the Company and any Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Nonqualified Option</u>" means any Option that either (i) is not designated as an Incentive Stock Option or (ii) is so designated but fails to qualify as such.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Option</u>" means an Award granted under <u>Section 5.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Other Stock-Based Awards</u>" means Awards of Shares and other Awards that are valued in whole or in part by reference to, or are otherwise based upon, Shares, including (without limitation) unrestricted stock, dividend equivalents, and convertible debentures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Other Stock-Based Performance Award</u>" shall have the meaning given in <u>Section 8</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Outstanding Company Shares</u>" shall have the meaning set forth in <u>Section 10.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Outstanding Company Voting Securities</u>" shall have the meaning set forth in <u>Section 10.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Parent Corporation</u>" shall have the meaning set forth in <u>Section 10.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Participant</u>" means an Eligible Individual to whom an Award is or has been granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Performance Award</u>" means a Performance Cash Award, an Other Stock-Based Performance Award, an Award of Performance-Based Restricted Stock, or Performance Units, as each is defined herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Performance-Based Restricted Stock</u>" shall have the meaning given in <u>Section 6.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Performance Cash Award</u>" shall have the meaning set forth in <u>Section 9</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kk)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Performance Goals</u>" means the performance goals or other specific criteria established by the Committee in connection with the grant of a Performance Award, which may be based on the attainment of or changes in specified levels of certain measures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Performance Period</u>" means that period established by the Committee at the time any Performance Award is granted or at any time thereafter during which any Performance Goal specified by the Committee with respect to such Award is to be measured.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Performance Units</u>" shall have the meaning given in <u>Section 7.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Person</u>" shall have the meaning set forth in <u>Section 10.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(oo)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Plan</u>" means this 2026 MiniMed Group, Inc. Long Term Incentive Plan, as set forth herein and as hereafter amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(pp)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Replaced Award</u>" shall have the meaning given in <u>Section 10.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(qq)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Replacement Award</u>" shall have the meaning given in <u>Section 10.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(rr)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Restricted Stock</u>" shall have the meaning given in <u>Section 6</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ss)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Restricted Stock Units</u>" shall have the meaning given in <u>Section 7</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(tt)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Restriction Period</u>" means, with respect to Restricted Stock and Restricted Stock Units, the period commencing with the Grant Date and ending upon the expiration of the applicable vesting conditions or the achievement of the applicable Performance Goals (it being understood that the Committee may provide that restrictions shall lapse with respect to portions of the applicable Award during the Restriction Period).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(uu)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Share</u>" means a share of common stock, par value $0.01 per share, of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vv)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Share Reserve</u>" shall have the meaning set forth in <u>Section 3.1.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ww)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Specified Converted Award</u>" means equity or equity-based awards originally granted under the long-term incentive plans of Medtronic plc that were converted into Awards with respect to Shares pursuant to the Employee Matters Agreement dated as of March 1, 2026, by and between Medtronic Group Holding, Inc. and Kangaroo US Holdco 2, Inc., as may be amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Stock Appreciation Right</u>" or "<u>SAR</u>" shall have the meaning set forth in <u>Section</u> <u>5.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(yy)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Subsidiary</u>" means a "subsidiary corporation", whether now or hereafter existing, as defined in Section 424(f) of the Code; provided that, to the extent required to avoid the imposition of additional taxes under Section 409A of the Code, an entity shall not be treated as a Subsidiary unless it is also an entity in which the Company has a "controlling interest" (as defined in Treas. Reg. Section 1.409A-1(b)(5)(ii)(E)(1)), either directly or through a chain of corporations or other entities in which each corporation or other entity has a "controlling interest" in another corporation or entity in the chain, as determined by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(zz)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Substitute Award</u>" means any Award (i) granted in assumption of, or in substitution for, an award of a company or business (that is not, prior to the applicable transaction, a Subsidiary of the Company) acquired by the Company or a Subsidiary or with

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which the Company or a Subsidiary combines, or (ii) granted pursuant to any Specified Converted Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aaa)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Surviving Corporation</u>" shall have the meaning set forth in <u>Section 10.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bbb)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Tandem SAR</u>" shall have the meaning set forth in <u>Section 5.3</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ccc)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Ten Percent Shareholder</u>" means a person owning stock possessing more than 10% of the total combined voting power of all classes of stock of the Company and any Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ddd)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Term</u>" means the maximum period during which an Option or Stock Appreciation Right may remain outstanding, subject to earlier termination upon Termination of Employment or otherwise, as specified in the applicable Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(eee)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Termination of Employment</u>" means, unless otherwise provided in an Award Agreement, the termination of the applicable Participant's employment with, or performance of services for, the Company and any of its Subsidiaries. Unless otherwise determined by the Committee, a Participant employed by, or performing services for, a Subsidiary or a division of the Company shall be deemed to incur a Termination of Employment if, as a result of a Disaffiliation, such Subsidiary or division ceases to be a Subsidiary or division, as the case may be, and the Participant does not immediately become an employee of, or service provider for, the Company or another Subsidiary. Temporary absences from employment because of illness, vacation, or leave of absence, and transfers among the Company and its Subsidiaries, shall not be considered Terminations of Employment. Notwithstanding the foregoing, with respect to any Award that constitutes "nonqualified deferred compensation" within the meaning of Section 409A of the Code, "Termination of Employment" shall mean a "separation from service" as defined under Section 409A of the Code.

**Section 2. Administration**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.1&nbsp;&nbsp;&nbsp;&nbsp;Committee**

The Plan shall be administered by the Committee or a duly designated Administrator, as defined herein. The Committee shall have plenary authority to grant Awards to Eligible Individuals pursuant to the terms of the Plan. Among other things, the Committee shall have the authority, subject to the terms and conditions of the Plan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;To select the Eligible Individuals to whom Awards may be granted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;To determine whether and to what extent Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Other Stock-Based Awards, or Performance Awards, or any combination thereof, are to be granted hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;To determine the number of Shares to be covered by each Award granted under the Plan;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;To determine the terms and conditions of each Award granted under the Plan, based on such factors as the Committee shall determine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <u>Section 12</u>, to modify, amend, or adjust the terms and conditions of any Award;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;To adopt, alter, or repeal such administrative rules, guidelines, and practices governing this Plan as the Committee shall from time to time deem advisable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;To interpret the terms and provisions of the Plan and any Award issued under the Plan (and any agreement relating thereto);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;Subject to <u>Section 11</u> and <u>Section 12</u>, to accelerate the vesting or lapse of restrictions of any outstanding Award, based in each case on such considerations as the Committee in its sole discretion may determine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;To decide all other matters that must be determined in connection with an Award;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;To determine whether, to what extent, and under what circumstances cash, Shares, and other property and other amounts payable with respect to an Award under this Plan shall be deferred either automatically or at the election of the Participant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;To otherwise administer the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2&nbsp;&nbsp;&nbsp;&nbsp;Committee Procedures; Board Authority**

The Committee shall exercise its authority under the Plan as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Committee may act only with the assent of a majority of its members then in office, except that the Committee may, except to the extent prohibited by applicable law or the listing standards of the Applicable Exchange or allocate all or any portion of its responsibilities and powers to any one or more of its members and may delegate all or any part of its responsibilities and powers to any person or persons selected by it (the "<u>Administrator</u>"). Notwithstanding the foregoing, the Committee may not so delegate any responsibility or power to the extent that such delegation would make any Award hereunder subject to (and not exempt from) the short-swing recovery rules of Section 16(b) of the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Any authority granted to the Committee may also be exercised by the full Board. To the extent that any permitted action taken by the Board conflicts with action taken by the Committee, the Board action shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3&nbsp;&nbsp;&nbsp;&nbsp;Discretion of Committee**

Subject to <u>Section 1.2(h)</u>, any determination made by the Committee or by the Administrator under the provisions of the Plan with respect to any Award shall be made in the sole discretion of the Committee or the Administrator at the time of the grant of the Award or, unless in contravention of any express term of the Plan, at any time thereafter. All decisions

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made by the Committee or the Administrator shall be final and binding on all persons, including the Company, Participants, and Eligible Individuals, and by accepting an Award under the Plan, each Participant acknowledges that all decisions of the Committee shall be final and binding on the Participant, his or her beneficiaries and any other person having a claim or an interest in the Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4&nbsp;&nbsp;&nbsp;&nbsp;Award Agreements**

Unless otherwise determined by the Committee, the terms and conditions of each Award, as determined by the Committee, shall be set forth in a written Award Agreement. Award Agreements may be amended only in accordance with <u>Section 12</u> hereof.

**Section 3. Shares Subject to Plan**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1&nbsp;&nbsp;&nbsp;&nbsp;Plan Maximums**

Subject to adjustment as provided in <u>Section 3.3</u>, (a) the maximum number of Shares that may be issued pursuant to Awards under the Plan shall be the sum of (i) 33,697,602 Shares and (ii) any Shares relating to the Plan which become available for grants under the Plan following the Effective Date pursuant to <u>Section 3.2</u> (clauses (a)(i) and (ii) collectively, the "<u>Share</u> <u>Reserve</u>"); (b) the maximum number of Shares that may be issued pursuant to Options intended to be Incentive Stock Options following the Effective Date shall be 33,697,602; and (c) the maximum number of Shares granted during a single fiscal year to any non-employee director, taken together with any cash fees paid to such non-employee director and including the value of any Awards received in lieu of all or a portion of any annual committee cash retainers or other similar cash-based payments during the fiscal year in respect of such non-employee director's service on the Board, will not exceed $1,000,000 in total value. Shares subject to an Award under the Plan may be authorized and unissued Shares or may be treasury Shares. Notwithstanding the foregoing, Substitute Awards shall not reduce the Shares authorized for issuance under the Plan or authorized for grant to an Eligible Individual in any year. The Share Reserve will automatically increase on May 1 of each calendar year commencing on May 1 of the calendar year after the calendar year of the Effective Date and ending on and including May 1, 2036. The amount of each increase will be three percent (3%) of the total number of Shares outstanding on April 30 of such calendar year. The Committee in its exclusive discretion may act before May 1 of any year not to increase the Share Reserve for that year, or to increase the Share Reserve by a lesser number or percentage of Shares than provided for under this <u>Section 3.1</u>. Any increases to the Share Reserve will not apply to Shares to be issued under Incentive Stock Options. The Share Reserve will consist of: (i) authorized and unissued Shares; (ii) authorized and issued Shares held in the Company's treasury; and (iii) subject to <u>Section 3.3</u>, authorized, issued, and reacquired Shares, whether reacquired on the open market or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.2&nbsp;&nbsp;&nbsp;&nbsp;Rules for Calculating Shares Issued**

For purposes of the limits set forth in <u>Section 3.1</u>, each Share that is subject to an Award other than a Performance Cash Award shall be counted as one (1) Share. To the extent that any Award under this Plan is forfeited, or any Option and related Tandem SAR or any Free-Standing

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SAR granted under this Plan terminates, expires, or lapses without being exercised, is exercised without the issuance of Shares, or any Award is settled for cash, the Shares subject to such Awards not delivered as a result thereof shall thereupon become available (in the case of Full-Value Awards, based upon the share-counting ratio set forth in the first sentence of this <u>Section</u> <u>3.2</u>) for Awards under the Plan. In the event that any Shares are withheld by the Company or previously acquired Shares are tendered (either actually or by attestation) by a Participant to satisfy any tax withholding obligation with respect to an Award other than an Option or SAR, then the Shares so tendered or withheld shall automatically again become available for issuance under the Plan and correspondingly increase the total number of Shares available for issuance under <u>Section 3.1</u> in accordance with the same ratio specified in this <u>Section 3.2</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.3&nbsp;&nbsp;&nbsp;&nbsp;Adjustment Provision**

The Committee shall have authority to make adjustments under the Plan as provided below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;In the event of a merger, consolidation, acquisition of property or shares, stock rights offering, liquidation, separation, spinoff, Disaffiliation, extraordinary dividend of cash or other property, or similar event affecting the Company or any of its Subsidiaries (a "<u>Corporate</u> <u>Transaction</u>"), the Committee or the Board shall make such substitutions or adjustments as it deems appropriate and equitable to (i) the aggregate number and kind of Shares or other securities reserved for issuance and delivery under the Plan, (ii) the various maximum share limitations set forth in <u>Section 3.1</u>, (iii) the number and kind of Shares or other securities subject to outstanding Awards, and (iv) the exercise price of outstanding Awards. Any adjustments determined by the Committee shall be final, binding and conclusive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;In the event of a stock dividend, stock split, reverse stock split, reorganization, share combination, recapitalization, or similar event affecting the capital structure of the Company, the Committee or the Board shall make such substitutions or adjustments as it deems appropriate and equitable to (i) the aggregate number and kind of Shares or other securities reserved for issuance and delivery under the Plan, (ii) the various share maximum limitations set forth in <u>Section 3.1</u>, (iii) the number and kind of Shares or other securities subject to outstanding Awards, and (iv) the exercise price of outstanding Awards, provided that in no event shall the per Share exercise price of an Option or the subscription price payable per Share of an Award be reduced to an amount that is lower than the nominal value of a Share. Any adjustments determined by the Committee shall be final, binding and conclusive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;In the case of Corporate Transactions, such adjustments may include, without limitation, (i) the cancellation of outstanding Awards in exchange for payments of cash, property, or a combination thereof having an aggregate value equal to the value (if any) of such Awards, as determined by the Committee or the Board in its sole discretion (it being understood that, in the case of a Corporate Transaction with respect to which holders of Shares receive consideration other than publicly traded equity securities of the Surviving Corporation (as defined below in <u>Section 10.2</u>), any such determination by the Committee that the value of an Option or Stock Appreciation Right shall for this purpose be deemed to equal the excess, if any, of the value of the consideration being paid for each Share pursuant to such Corporate

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Transaction over the exercise price of such Option or Stock Appreciation Right shall conclusively be deemed valid), (ii) the substitution of other property (including, without limitation, cash or other securities of the Company and securities of entities other than the Company) for the Shares subject to outstanding Awards, and (iii) in connection with a Disaffiliation, arranging for the assumption of Awards, or replacement of Awards with new awards based on other property or other securities (including, without limitation, other securities of the Company and securities of entities other than the Company), by the affected Subsidiary or division of the Company or by the entity that controls such Subsidiary or division of the Company following such Corporate Transaction (as well as any corresponding adjustments to Awards that remain based upon Company securities). For the avoidance of doubt, if the Committee determines that, as of the date of the Corporate Transaction, the Award has no value, then such Award may be terminated by the Company without payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Committee may, in its sole discretion, provide that adjustments shall be made to Performance Goals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing: (a) any adjustments made pursuant to <u>Section 3.3</u> to Awards that are considered "deferred compensation" within the meaning of Section 409A of the Code shall be made in compliance with the requirements of Section 409A of the Code and (b) any adjustments made pursuant to <u>Section 3.3</u> to Awards that are not considered "deferred compensation" subject to Section 409A of the Code shall be made in such a manner as to ensure that, after such adjustment, the Awards either (i) continue not to be subject to Section 409A of the Code, or (ii) comply with the requirements of Section 409A of the Code.

**Section 4. Eligibility; Award Limitations**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1&nbsp;&nbsp;&nbsp;&nbsp;Eligible Individuals; Incentive Stock Options**

Awards may be granted under the Plan to Eligible Individuals; provided, that Incentive Stock Options may be granted only to employees of the Company and its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.2&nbsp;&nbsp;&nbsp;&nbsp;Award Limitations**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms of the Plan and the applicable Award Agreement, any Award granted under the Plan shall be subject to a minimum vesting period of at least one (1) year following the Grant Date; provided, that, subject to the minimum vesting requirements set forth in this sentence, an Award may vest in part on a pro rata basis (as specified in the applicable Award Agreement) prior to the expiration of any vesting period. The minimum vesting periods specified in the preceding sentence shall not apply: (i) to Awards made in payment of earned performance-based Awards and other earned cash-based incentive compensation; (ii) upon a Termination of Employment due to death, disability, or retirement; (iii) upon a Change of Control; (iv) to a Substitute Award that does not reduce the vesting period of the award being replaced; (v) to Awards granted to non-employee directors that vest on the earlier of (x) the day of or the day prior to the next annual meeting of stockholders of the Company, and (y) the one-year anniversary of the grant date of such Award; or (vi) to Awards involving an aggregate

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number of Shares not in excess of five percent (5%) of the Shares available for grant under the Plan.

**Section 5. Options and Stock Appreciation Rights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.1&nbsp;&nbsp;&nbsp;&nbsp;Types of Options**

Options may be of two types: Incentive Stock Options and Nonqualified Options. The Award Agreement for an Option shall indicate whether the Option is intended to be an Incentive Stock Option or a Nonqualified Option; provided, that any Option that is designated as an Incentive Stock Option but fails to meet the requirements therefor (as described in <u>Section 5.2</u> or otherwise), and any Option that is not expressly designated as intended to be an Incentive Stock Option shall be treated as a Nonqualified Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.2&nbsp;&nbsp;&nbsp;&nbsp;Incentive Stock Option Limitations**

To the extent that the aggregate Fair Market Value, determined at the time of grant, of the Shares with respect to which Incentive Stock Options are exercisable for the first time during any calendar year under the Plan or any other stock option plan of the Company, any Subsidiary exceeds $100,000, Options relating to such Shares in excess of the limit shall be deemed Nonqualified Options. If an ISO Eligible Employee does not remain employed by the Company, any Subsidiary, at all times from the time an Incentive Stock Option is granted until three months prior to the date of exercise thereof (or such other period as required by applicable law), such Option shall be treated as a Nonqualified Option. Should any provision of the Plan not be necessary in order for any Options to qualify as Incentive Stock Options, or should any additional provisions be required, the Committee may amend the Plan accordingly, without the necessity of obtaining the approval of the shareholders of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.3&nbsp;&nbsp;&nbsp;&nbsp;Types and Nature of Stock Appreciation Rights**

Stock Appreciation Rights may be "<u>Tandem SARs</u>", which are granted in conjunction with an Option, or "<u>Free-Standing SARs</u>", which are not granted in conjunction with an Option. Upon the exercise of a Stock Appreciation Right, the Participant shall be entitled to receive an amount in cash, Shares, or both, equal to the product of (a) the excess of the Fair Market Value of one Share over the exercise price of the applicable Stock Appreciation Right, multiplied by (b) the number of Shares in respect of which the Stock Appreciation Right has been exercised. The applicable Award Agreement shall specify whether such payment is to be made in cash, Shares, or both, or shall reserve to the Committee or the Participant the right to make that determination prior to or upon the exercise of the Stock Appreciation Right.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4&nbsp;&nbsp;&nbsp;&nbsp;Tandem SARs**

A Tandem SAR may be granted at the Grant Date of the related Option. A Tandem SAR shall be exercisable only at such time or times and to the extent that the related Option is exercisable in accordance with the provisions of this <u>Section 5</u>, and shall have the same exercise price as the related Option. A Tandem SAR shall terminate or be forfeited upon the exercise or

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forfeiture of the related Option, and the related Option shall terminate or be forfeited upon the exercise or forfeiture of the Tandem SAR.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.5&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price**

Except in respect of Replacement Awards or Substitute Awards, the exercise price per Share subject to an Option or Free-Standing SAR shall be determined by the Committee and set forth in the applicable Award Agreement, and shall not be less than the Fair Market Value of a Share on the applicable Grant Date; provided, that if an Incentive Stock Option is granted to a Ten Percent Shareholder, the exercise price shall be no less than 110% of the Fair Market Value of the Share on the applicable Grant Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.6&nbsp;&nbsp;&nbsp;&nbsp;Term**

The Term of each Option and each Free-Standing SAR shall be fixed by the Committee, but shall not exceed 10 years from the Grant Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.7&nbsp;&nbsp;&nbsp;&nbsp;Vesting and Exercisability**

Except as otherwise provided herein, Options and Free-Standing SARs shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.8&nbsp;&nbsp;&nbsp;&nbsp;Method of Exercise**

Subject to the provisions of this <u>Section 5</u>, Options and Free-Standing SARs may be exercised, in whole or in part, at any time during the applicable Term by giving written notice of exercise to the Company specifying the number of Shares as to which the Option or Free-Standing SAR is being exercised. In the case of the exercise of an Option, such notice shall be accompanied by payment in full of the purchase price (which shall equal the product of such number of shares multiplied by the applicable exercise price) and an amount equal to any federal, state, local or foreign withholding taxes. To the extent permitted by law and if approved by the Committee (which approval may be set forth in the applicable Award Agreement or otherwise), payment, in full or in part, may be made by certified or bank check or such other instrument or such other method as the Company may accept, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Payment may be made in the form of Shares (by delivery of such shares or by attestation) of the same class as the Shares subject to the Option already owned by the Participant (based on the Fair Market Value of the Shares on the date the Option is exercised); provided that, in the case of an Incentive Stock Option, the right to make a payment in the form of already owned Shares of the same class as the Shares subject to the Option may be authorized only at the time the Option is granted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;To the extent permitted by applicable law, payment may be made by delivering a properly executed exercise notice to the Company, together with a copy of irrevocable instructions to a broker to deliver promptly to the Company the amount of sale or loan proceeds

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necessary to pay the purchase price, and the amount of any federal, state, local, or foreign withholding taxes. To facilitate the foregoing, the Company may, to the extent permitted by applicable law, enter into agreements for coordinated procedures with one or more brokerage firms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Payment may be made by instructing the Company to withhold a number of Shares having a Fair Market Value (based on the Fair Market Value of the Shares on the date the applicable Option is exercised) equal to the product of (i) the exercise price multiplied by (ii) the number of Shares in respect of which the Option shall have been exercised and an amount equal to any federal, state, local and/or foreign withholding taxes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.9&nbsp;&nbsp;&nbsp;&nbsp;Delivery; Rights of Shareholders**

No Shares shall be delivered pursuant to the exercise of an Option until the exercise price therefor has been fully paid and applicable taxes have been withheld. The applicable Participant shall have all of the rights of a shareholder of the Company holding the class or series of Shares that is subject to the Option or Stock Appreciation Right (including, if applicable, the right to vote the applicable Shares and the right to receive dividends), when (a) the Company has received a written notice from the Participant of exercise that complies with all procedures established under this Plan for effective exercise, including, without limitation, completion and delivery of all required forms, (b) the Participant has, if requested, given the representation described in <u>Section 15.1</u>, and (c) in the case of an Option, the Participant has paid in full for such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.10&nbsp;&nbsp;&nbsp;&nbsp;Nontransferability of Options and Stock Appreciation Rights**

No Option or Free-Standing SAR shall be transferable by a Participant other than, for no value or consideration, (a) by will or by the laws of descent and distribution, or (b) in the case of a Nonqualified Option or Free-Standing SAR, as otherwise expressly permitted by the Committee including, if so permitted, pursuant to a transfer to the Participant's family members, whether directly or indirectly or by means of a trust or partnership or otherwise. For purposes of this Plan, unless otherwise determined by the Committee, "family member" shall have the meaning given to such term in General Instructions A.1(a)(5) to Form S-8 under the Securities Act of 1933, as amended, and any successor thereto. A Tandem SAR shall be transferable only with the related Option and only to the extent the Option is transferable pursuant to the preceding sentence. Any Option or Stock Appreciation Right shall be exercisable, subject to the terms of this Plan, only by the applicable Participant, the guardian or legal representative of such Participant, or any person to whom such Option or Stock Appreciation Right is permissibly transferred pursuant to this <u>Section 5.10</u>, it being understood that the term "Participant" includes such guardian, legal representative and other transferee; provided, that the term "Termination of Employment" shall continue to refer to the Termination of Employment of the original Participant.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.11&nbsp;&nbsp;&nbsp;&nbsp;No Dividend or Dividend Equivalents**

No dividend or other distribution or award of dividend equivalents may be granted with respect to any Option or SAR granted under this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.12&nbsp;&nbsp;&nbsp;&nbsp;No Repricing**

Notwithstanding any other provision of this Plan other than <u>Section 3.3</u>, the Committee may not, without prior approval of the Company's stockholders, seek to effect any repricing of any previously granted, "underwater" Option or SAR by: (i) amending or modifying the terms of the Option or SAR to lower the exercise price; (ii) canceling the underwater Option or SAR and granting either replacement Options or SARs having a lower exercise price; or other Awards or cash in exchange; or (iii) repurchasing the underwater Options or SARs. For purposes of this <u>Section 5.12</u>, an Option or SAR will be deemed to be "underwater" at any time when the Fair Market Value of the Shares is less than the per share exercise price of the Option or SAR.

**Section 6. Restricted Stock (Including Performance-Based Restricted Stock)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1&nbsp;&nbsp;&nbsp;&nbsp;Nature of Award; Certificates**

Shares of Restricted Stock are actual Shares issued to a Participant and shall be evidenced in such manner as the Committee may deem appropriate, including book-entry registration, issuance of one or more stock certificates, or delivery to an account in the Participant's name at a broker designated by the Company.

"<u>Performance-Based Restricted Stock</u>" is an Award of Shares of Restricted Stock, the vesting of which is subject to the attainment of Performance Goals. In the event that the Committee grants Shares of Performance-Based Restricted Stock, the performance levels to be achieved for each Performance Period and the amount of the Award to be distributed shall be conclusively determined by the Committee. Any certificate issued in respect of Shares of Restricted Stock shall be registered in the name of the applicable Participant and shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Award. The Committee may require that the certificates evidencing such Shares be held in custody by the Company until the restrictions thereon shall have lapsed and that, as a condition of any Award of Restricted Stock, the applicable Participant shall have delivered a stock power, endorsed in blank, relating to the Shares covered by such Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2&nbsp;&nbsp;&nbsp;&nbsp;Terms and Conditions**

Shares of Restricted Stock shall be subject to the following terms and conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Committee shall, prior to or at the time of grant, condition the vesting or transferability of an Award of Restricted Stock upon the continued service of the applicable Participant or the attainment of Performance Goals, or both the attainment of Performance Goals and the continued service of the applicable Participant. The conditions for grant, vesting, or transferability and the other provisions of Restricted Stock Awards (including without limitation

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any Performance Goals applicable to Performance-Based Restricted Stock) need not be the same with respect to each Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If any applicable Performance Goals and/or continued service periods are satisfied and the Restriction Period expires without a prior forfeiture of the Shares of Restricted Stock for which legended certificates have been issued, either (i) unlegended certificates for such Shares shall be delivered to the Participant upon surrender of the legended certificates, or (ii) such Shares shall be evidenced in such manner as the Committee may deem appropriate, including book-entry registration or delivery to an account in the Participant's name at a broker designated by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;If a Participant makes an election under Section 83(b) of the Code to be taxed with respect to the Restricted Stock as of the date of transfer of the Restricted Stock rather than as of the date or dates upon which the Participant would otherwise be taxable under Section 83(a) of the Code, the Participant shall be required to deliver a copy of such election to the Company promptly after filing such election with the Internal Revenue Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.3&nbsp;&nbsp;&nbsp;&nbsp;Rights of Shareholder**

Except as provided in the applicable Award Agreement, the applicable Participant shall have, with respect to Shares of Restricted Stock, all of the rights of a shareholder of the Company holding the class or series of Shares that are the subject of the Restricted Stock, including, if applicable, the right to vote the Shares and the right to receive any dividends and other distributions; provided, however, that, notwithstanding anything to the contrary in an Award Agreement, in no event shall a dividend or other distribution or dividend equivalent be paid on Restricted Stock, a Performance Unit, or Other Stock-Based Performance Award until the Award has vested.

**Section 7. Restricted Stock Units (Including Performance Units)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.1&nbsp;&nbsp;&nbsp;&nbsp;Nature of Award**

Restricted Stock Units are Awards denominated in Shares that will be settled, subject to the terms and conditions of the applicable Award Agreement, in (a) cash, based upon the Fair Market Value of a specified number of Shares, (b) Shares, or (c) a combination thereof. "<u>Performance Units</u>" are Restricted Stock Units, the vesting of which is subject to the attainment of Performance Goals. In the event that the Committee grants Performance Units, the performance levels to be achieved for each Performance Period and the amount of the Award to be distributed shall be conclusively determined by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.2&nbsp;&nbsp;&nbsp;&nbsp;Terms and Conditions**

Restricted Stock Units shall be subject to the following terms and conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Committee shall, prior to or at the time of grant, condition the grant, vesting, or transferability of Restricted Stock Units upon the continued service of the applicable

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Participant or the attainment of Performance Goals, or the attainment of Performance Goals and the continued service of the applicable Participant. The conditions for grant, vesting or transferability and the other provisions of Restricted Stock Units (including without limitation any Performance Goals applicable to Performance Units) need not be the same with respect to each Participant. An Award of Restricted Stock Units shall be settled as and when the Restricted Stock Units vest or at a later time specified by the Committee or in accordance with an election of the Participant, if the Committee so permits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of the Plan and the applicable Award Agreement, during the Restriction Period, if any, the Participant shall not be permitted to sell, assign, transfer, pledge, or otherwise encumber Restricted Stock Units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Award Agreement for Restricted Stock Units may specify whether, to what extent, and on what terms and conditions the applicable Participant shall be entitled to receive current or deferred payments of cash, Shares, or other property corresponding to the dividends payable on the Company's Shares (subject to <u>Section 15.5</u> below), provided, however, that, notwithstanding anything to the contrary in an Award Agreement, in no event shall a dividend or other distribution or dividend equivalent be paid on a Restricted Stock Unit or Performance Unit until the Award has vested.

**Section 8. Other Stock-Based Awards (Including Other Stock-Based Performance Awards)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1&nbsp;&nbsp;&nbsp;&nbsp;Nature of Award**

Other Stock-Based Awards may be granted under the Plan, provided that any Other Stock-Based Awards that are Awards of Shares that are unrestricted shall only be granted in lieu of other compensation due and payable to the Participant. "<u>Other Stock-Based Performance</u> <u>Awards</u>" are Other Stock-Based Awards, the vesting of which is subject to the attainment of Performance Goals. In the event that the Committee grants Other Stock-Based Performance Awards, the performance levels to be achieved for each Performance Period and the amount of the Award to be distributed shall be conclusively determined by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.2&nbsp;&nbsp;&nbsp;&nbsp;Terms and Conditions**

Other Stock-Based Awards shall be subject to the following terms and conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of the Plan and the applicable Award Agreement, during the Restriction Period, if any, the Participant shall not be permitted to sell, assign, transfer, pledge, or otherwise encumber Other Stock-Based Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The Award Agreement for Other Stock-Based Awards may specify whether, to what extent, and on what terms and conditions the applicable Participant shall be entitled to receive current or deferred payments of cash, Shares, or other property corresponding to the dividends payable on the Company's Shares (subject to <u>Section 15.5</u> below), provided, however, that, notwithstanding anything to the contrary in an Award Agreement, in no event shall a

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dividend or other distribution or dividend equivalent be paid on Other Stock-Based Awards until the Award has vested.

**Section 9. Performance Cash Awards**. Performance Cash Awards may be issued under the Plan, for no cash consideration or for such minimum consideration as may be required by applicable law, either alone or in addition to other Awards. A "<u>Performance Cash Award</u>" is an Award entitling the recipient to payment of a cash amount subject to the attainment of Performance Goals. The conditions for grant or vesting and the other provisions of a Performance Cash Award (including without limitation any applicable Performance Goals) need not be the same with respect to each Participant. Performance Cash Awards may be paid in cash, Shares, other property or any combination thereof, in the sole discretion of the Committee as set forth in the applicable Award Agreement. The performance levels to be achieved for each Performance Period and the amount of the Award to be distributed shall be conclusively determined by the Committee.

**Section 10. Change of Control Provisions**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1&nbsp;&nbsp;&nbsp;&nbsp;Impact of Event**

Notwithstanding any other provision of this Plan to the contrary, in the event of a Change of Control, the provisions of this <u>Section 10</u> shall apply unless otherwise provided in the applicable Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Upon a Change of Control, (i) all then-outstanding Options and SARs shall become fully vested and exercisable, and any Full-Value Award (other than a Performance Award) shall vest in full, be free of restrictions, and be deemed to be earned and immediately payable in an amount equal to the full value of such Award, except in each case to the extent that another Award meeting the requirements of <u>Section 10.1(b)</u> (any award meeting the requirements of <u>Section 10.1(b)</u>, a "<u>Replacement Award</u>") is provided to the Participant pursuant to <u>Section</u> <u>3.3</u> to replace such Award (any award intended to be replaced by a Replacement Award, a "Replaced Award"), and (ii) any Performance Award that is not replaced by a Replacement Award shall be deemed to be earned and immediately payable in an amount equal to the full value of such Performance Award (with all applicable Performance Goals deemed achieved at the greater of (x) the applicable target level and (y) the level of achievement of the Performance Goals for the Award as determined by the Committee not later than the date of the Change of Control, taking into account performance through the latest date preceding the Change of Control as to which performance can, as a practical matter, be determined (but not later than the end of the Performance Period)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;An Award shall meet the conditions of this <u>Section 10.1(b)</u> (and hence qualify as a Replacement Award) if: (i) it is of the same type as the Replaced Award; (ii) it has a Fair Market Value at least equal to the value of the Replaced Award as of the date of the Change of Control; (iii) if the underlying Replaced Award was an equity-based award, it relates, following the Change of Control, to publicly traded equity securities of the Company or the Surviving Corporation or the ultimate parent company which results from the Change of Control; and (iv) its other terms and conditions, including conditions related to liquidity, are not less favorable to

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the Participant than the terms and conditions of the Replaced Award (including the provisions that would apply in the event of a subsequent Change of Control) as of the date of the Change of Control. Without limiting the generality of the foregoing, a Replacement Award may take the form of a continuation of the applicable Replaced Award if the requirements of the preceding sentence are satisfied. The determination whether the conditions of this <u>Section 10.1(b)</u> are satisfied shall be made by the Committee, as constituted immediately before the Change of Control, in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Upon a Termination of Employment of a Participant occurring in connection with or during the two years following the date of a Change of Control, by the Company other than for Cause or by the Participant for Good Reason, (i) all Replacement Awards held by such Participant shall vest in full, be free of restrictions, and be deemed to be earned and immediately payable in an amount equal to the full value of such Replacement Award, and (ii) all Options and SARs held by the Participant immediately before the Termination of Employment that the Participant held as of the date of the Change of Control or that constitute Replacement Awards shall remain exercisable until the earlier of (1) the third anniversary of the Change of Control and (2) the expiration of the stated Term of such Option or SAR; provided, that if the applicable Award Agreement provides for a longer period of exercisability, that provision shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.2&nbsp;&nbsp;&nbsp;&nbsp;Definition of Change of Control**

For purposes of the Plan, a "<u>Change of Control</u>" shall mean any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Act) (a "<u>Person</u>") becomes the Beneficial Owner (within the meaning of Rule 13d-3 promulgated under the Act) of 30% or more of either (i) the then-outstanding Shares of the Company (the "<u>Outstanding Company Shares</u>") or (ii) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the "<u>Outstanding Company Voting Securities</u>"); provided that, for purposes of this subsection (a), the following acquisitions shall not constitute a Change of Control: (1) an acquisition directly from the Company; (2) an acquisition by the Company or a Subsidiary; (3) an acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any Subsidiary; (4) any acquisition by an underwriter temporarily holding securities pursuant to an offering of such securities or (5) an acquisition pursuant to a transaction that complies with <u>Sections 10.2(c)(i)</u>, <u>10.2(c)(ii)</u>, and <u>10.2(c)(iii)</u> below;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Individuals who, on the Effective Date, constitute the Board (the "<u>Incumbent</u> <u>Directors</u>") cease for any reason to constitute at least a majority of the Board; provided that any person becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company's shareholders, was approved by a vote of at least a majority of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director, without written objection to such nomination) shall be considered an Incumbent Director; but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest with respect to the election or removal of directors

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or other actual or threatened solicitation of proxies or consents by or on behalf of any Person other than the Board; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The consummation of a reorganization, merger, statutory share exchange or consolidation (or similar corporate transaction) involving the Company or a Subsidiary, the sale or other disposition of all or substantially all of the Company's assets, or the acquisition of assets or stock of another entity (a "<u>Business Combination</u>"), unless immediately following such Business Combination: (i) substantially all of the individuals and entities who were Beneficial Owners, respectively, of the Outstanding Company Shares and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then-outstanding Shares and the total voting power of (A) the corporation resulting from such Business Combination (the "<u>Surviving</u> <u>Corporation</u>") or (B) if applicable, the ultimate parent corporation that directly or indirectly has beneficial ownership of 80% or more of the voting securities eligible to elect directors of the Surviving Corporation (the "<u>Parent Corporation</u>"), in substantially the same proportion as their ownership, immediately prior to the Business Combination, of the Outstanding Company Shares and the Outstanding Company Voting Securities, as the case may be, (ii) no Person (other than any employee benefit plan (or related trust) sponsored or maintained by the Surviving Corporation or the Parent Corporation) is or becomes the Beneficial Owner, directly or indirectly, of 30% or more of the outstanding Shares and the total voting power of the outstanding securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) and (iii) at least a majority of the members of the Board of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) following the consummation of the Business Combination were Incumbent Directors at the time of the Board's approval of the initial agreement providing for such Business Combination; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company.

Notwithstanding anything to the contrary contained herein, none of the Initial Public Offering, the Divestment or the Other Disposition (each as defined in the Separation Agreement dated March 1, 2026, by and between Medtronic Group Holding, Inc. and Kangaroo US HoldCo 2, Inc., as may be amended from time to time) shall constitute a Change of Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.3&nbsp;&nbsp;&nbsp;&nbsp;Section 409A of the Code**

Notwithstanding the foregoing, if any Award is subject to Section 409A of the Code, (a) this <u>Section 10</u> shall be applicable only to the extent specifically provided in the Award Agreement; and (b) in respect of any Award subject to Section 409A of the Code, to the extent required to avoid an accelerated or additional tax under Section 409A of the Code, in no event shall a Change of Control be treated as having occurred if such event is not a "change of control event" for purposes of Section 409A of the Code.

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**Section 11. Performance Awards**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.1&nbsp;&nbsp;&nbsp;&nbsp;Section 16(b) Compliance**

The provisions of this Plan are intended to ensure that no transaction under the Plan is subject to (and not exempt from) the short-swing recovery rules of Section 16(b) of the Act ("<u>Section 16(b)</u>"). Accordingly, the composition of the Committee shall be subject to such limitations as the Board deems appropriate to permit transactions pursuant to this Plan to be exempt (pursuant to Rule 16b-3 promulgated under the Act) from Section 16(b), and no delegation of authority by the Committee shall be permitted if such delegation would cause any such transaction to be subject to (and not exempt from) Section 16(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.2&nbsp;&nbsp;&nbsp;&nbsp;Awards Valid Notwithstanding Committee Composition**

Notwithstanding any other provision of the Plan to the contrary, if for any reason the appointed Committee does not meet the requirements of Rule 16b-3, such noncompliance with the requirements of Rule 16b-3 shall not affect the validity of Awards, grants, interpretations of the Plan, or other actions of the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.3&nbsp;&nbsp;&nbsp;&nbsp;Section 409A of the Code**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;It is the intention of the Company that no Award shall be "deferred compensation" subject to Section 409A of the Code, unless and to the extent that the Committee specifically determines otherwise as provided in the immediately following sentence, and the Plan and the terms and conditions of all Awards shall be interpreted accordingly. The terms and conditions governing any Awards that the Committee determines will be subject to Section 409A of the Code, including any rules for elective or mandatory deferral of the delivery of cash or Shares pursuant thereto and any rules regarding treatment of such Awards in the event of a Change of Control, shall be set forth in the applicable Award Agreement, and shall comply in all respects with Section 409A of the Code. In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on a Participant by Section 409A of the Code or damages for failing to comply with Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The intent of the parties is that payments and benefits under this Plan comply with Section 409A of the Code to the extent subject thereto, and, accordingly, to the maximum extent permitted, this Plan shall be interpreted and administered to be in compliance therewith. Notwithstanding anything contained herein to the contrary, a Participant shall not be considered to have terminated employment with the Company for purposes of any payments under the Plan which are subject to Section 409A of the Code until the Participant has incurred a "separation from service" from the Company within the meaning of Section 409A of the Code. Each amount to be paid or benefit to be provided under this Plan shall be construed as a separate identified payment for purposes of Section 409A of the Code. Without limiting the foregoing and notwithstanding anything contained herein to the contrary, if a Participant is a "specified employee" within the meaning of Section 409A(a)(2)(B)(i) of the Code and the regulations promulgated thereunder, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this Plan during the six-month period immediately following a

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Participant's separation from service shall instead be paid in a lump sum on the first business day after the date that is six months following the Participant's separation from service (or, if earlier, the Participant's date of death). The Company makes no representation that any or all of the payments described in this Plan will be exempt from or comply with Section 409A of the Code and makes no undertaking to preclude Section 409A of the Code from applying to any such payment.

**Section 12. Term, Amendment, and Termination**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.1&nbsp;&nbsp;&nbsp;&nbsp;Effectiveness**

The "<u>Effective Date</u>" of the Plan is March 9, 2026, subject to any required approval of the Company's shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2&nbsp;&nbsp;&nbsp;&nbsp;Termination**

The Plan will terminate on the tenth anniversary of the Effective Date. Awards outstanding as of such termination date shall not be affected or impaired by the termination of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.3&nbsp;&nbsp;&nbsp;&nbsp;Amendment of Plan**

The Board or the Committee may amend, alter, or discontinue the Plan, but no amendment, alteration, or discontinuation shall be made that would materially impair the rights of any Participant with respect to a previously granted Award without such Participant's consent, except such an amendment made to comply with applicable law, including, without limitation, Section 409A of the Code, Section 422 of the Code, stock exchange rules, or accounting rules. In addition, no such amendment shall be made without the approval of the Company's shareholders to the extent that such approval is required by applicable law or by the listing standards of the Applicable Exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.4&nbsp;&nbsp;&nbsp;&nbsp;Amendment of Awards**

Subject to <u>Section 5.12</u>, the Committee may unilaterally amend the terms of any Award theretofore granted. Subject to the foregoing, the amendment authority of the Committee shall include, without limitation, the authority to modify the number of Shares or other terms and conditions of an Award; extend the term of an Award; accelerate the exercisability or vesting or otherwise terminate any restrictions relating to an Award; accept the surrender of any outstanding Award; and, to the extent not previously exercised or vested, authorize the grant of new Awards in substitution for surrendered Awards; provided, however that (a) the amended or modified terms are permitted by the Plan as then in effect; (b) any Participant adversely affected by such amended or modified terms shall have consented to such amendment or modification unless such amendment is necessary to comply with applicable law, including, without limitation, Section 409A of the Code, Section 422 of the Code, stock exchange rules or accounting rules; and (c) the authority to accelerate the exercisability or vesting or otherwise terminate restrictions relating to an Award may be exercised only in connection with a

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Participant's death, disability or retirement, in connection with a Change of Control, or to the extent such actions involve an aggregate number of Shares not in excess of five percent (5%) of the number of shares available for Awards.

**Section 13. Forfeiture**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.1&nbsp;&nbsp;&nbsp;&nbsp;Forfeiture**

Subject to applicable law, all Awards under this Plan shall be subject to forfeiture or other penalties pursuant (a) to the Company's Incentive Compensation Forfeiture Policy, as amended from time to time, and (b) such other forfeiture and/or penalty conditions and provisions as determined by the Committee and set forth in the applicable Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.2&nbsp;&nbsp;&nbsp;&nbsp;Effect of Change of Control**

Notwithstanding the foregoing, unless otherwise provided by the Committee in the applicable Award Agreement or required by applicable law, this <u>Section 13</u> shall not be applicable to any Participant following a Change of Control.

**Section 14. Unfunded Status of Plan; Committee Authority**. It is presently intended that the Plan will constitute an "unfunded" plan for incentive and deferred compensation. The Committee may authorize the creation of trusts or other arrangements to meet the obligations created under the Plan to deliver Shares or make payments; provided, that unless the Committee otherwise determines, the existence of such trusts or other arrangements is consistent with the "unfunded" status of the Plan.

**Section 15. General Provisions**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.1&nbsp;&nbsp;&nbsp;&nbsp;Conditions for Issuance**

The Committee may require each Participant purchasing or receiving Shares pursuant to an Award to represent to and agree with the Company in writing that such person is acquiring the Shares without a view to the distribution thereof. The certificates for such Shares may include any legend which the Committee deems appropriate to reflect any restrictions on transfer. Notwithstanding any other provision of the Plan or agreements made pursuant thereto, the Company shall not be required to issue or deliver any certificate or certificates for Shares under the Plan prior to fulfillment of all of the following conditions: (a) listing or approval for listing upon notice of issuance of such Shares on the Applicable Exchange, (b) any registration or other qualification of such Shares of the Company under any state or federal law or regulation, or the maintaining in effect of any such registration or other qualification which the Committee shall, in its absolute discretion upon the advice of counsel, deem necessary or advisable, and (c) obtaining any other consent, approval, or permit from any state or federal governmental agency which the Committee shall, in its absolute discretion after receiving the advice of counsel, determine to be necessary or advisable.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.2&nbsp;&nbsp;&nbsp;&nbsp;Additional Compensation Arrangements**

Nothing contained in the Plan shall prevent the Company or any Subsidiary from adopting other or additional compensation arrangements for its employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.3&nbsp;&nbsp;&nbsp;&nbsp;No Contract of Employment**

The Plan shall not constitute a contract of employment, and adoption of the Plan shall not confer upon any employee any right to continued employment, nor shall it interfere in any way with the right of the Company or any Subsidiary to terminate the employment of any employee at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.4&nbsp;&nbsp;&nbsp;&nbsp;Required Taxes**

No later than the date as of which an amount first becomes includible in the gross income of a Participant for federal, state, local, or foreign income or employment or other tax or social security contribution purposes with respect to any Award under the Plan, such Participant shall pay to the Company, or make arrangements satisfactory to the Company regarding the payment of, any federal, state, local, or foreign taxes or social security contributions of any kind required by law to be withheld with respect to such amount. Unless otherwise determined by the Company, withholding obligations may be settled with Shares, including Shares that are part of the Award that gives rise to the withholding requirement, in an amount not to exceed the maximum statutory tax and social security rates in the applicable jurisdiction and that will not cause adverse accounting consequences to the Company, all in accordance with such procedures as the Committee establishes and to the extent permissible under applicable law and applicable withholding rules. The obligations of the Company under the Plan shall be conditioned on such payment or arrangements, and the Company and its Subsidiaries shall, to the extent permitted by law, have the right to automatically deduct, without any further action or authorization, any such taxes or social security contributions from any payment otherwise due to such Participant. The Committee may establish such procedures as it deems appropriate, including making irrevocable elections, for the settlement of withholding obligations with Shares. Without limiting the generality of the foregoing, withholding procedures may involve the mandatory or voluntary sale of Shares pursuant to the exercise or settlement of Awards and using proceeds from the sale of Shares delivered to satisfy withholding obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.5&nbsp;&nbsp;&nbsp;&nbsp;Limit on Dividend Reinvestment and Dividend Equivalents**

Reinvestment of dividends in additional Restricted Stock Units to be settled in Shares, and the payment of Shares with respect to dividends to Participants holding Awards of Restricted Stock Units, shall only be permissible if sufficient Shares are available under <u>Section 3</u> for such reinvestment or payment (taking into account then outstanding Awards). In the event that sufficient Shares are not available for such reinvestment or payment, such reinvestment or payment shall be made in the form of a grant of Restricted Stock Units equal in number to the Restricted Stock Units or Shares that would have been obtained by such payment or reinvestment, the terms of which Restricted Stock Units shall provide for settlement in cash and

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for dividend equivalent reinvestment in further Restricted Stock Units on the terms contemplated by this <u>Section 15.5</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.6&nbsp;&nbsp;&nbsp;&nbsp;Written Materials; Electronic Documents**

Electronic documents may be substituted for any written materials required by the terms of the Plan, including, without limitation, Award Agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.7&nbsp;&nbsp;&nbsp;&nbsp;Designation of Death Beneficiary**

The Committee may establish such procedures as it deems appropriate for a Participant to designate a beneficiary to whom any amounts payable in the event of such Participant's death are to be paid or by whom any rights of such Participant after such Participant's death may be exercised. If no beneficiary designation is in effect for a Participant at the time or his or her death, any such amounts shall be paid to, and any such rights may be exercised by, the estate of the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.8&nbsp;&nbsp;&nbsp;&nbsp;Subsidiary Employees**

In the case of a grant of an Award to any employee of a Subsidiary of the Company, the Company may, if the Committee so directs, issue or transfer the Shares, if any, covered by the Award to the Subsidiary, for such lawful consideration as the Committee may specify, upon the condition or understanding that the Subsidiary will transfer the Shares to the employee in accordance with the terms of the Award specified by the Committee pursuant to the provisions of the Plan. All Shares underlying Awards that are forfeited or canceled shall revert to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.9&nbsp;&nbsp;&nbsp;&nbsp;Governing Law**

This Plan and all Awards made and actions taken thereunder shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to principles of conflict of laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.10&nbsp;&nbsp;&nbsp;&nbsp;Non-Transferability**

Except as otherwise provided in <u>Section 5.10</u> or by the Committee, Awards under this Plan are not transferable except by will or by the laws of descent and distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.11&nbsp;&nbsp;&nbsp;&nbsp;Foreign Employees and Foreign Law Considerations**

The Committee may grant Awards to Eligible Individuals who are foreign nationals, who are located outside the United States, who are United States citizens or resident aliens on global assignments in foreign nations, who are not compensated from a payroll maintained in the United States, or who are otherwise subject to (or could cause the Company to be subject to) legal, regulatory, tax or social security provisions of countries or jurisdictions outside the United States, on such terms and conditions different from those specified in the Plan as may, in the judgment of the Committee, be necessary or desirable to foster and promote the achievement of

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the purposes of the Plan, and, in furtherance of such purposes, the Committee may make such modifications, amendments, procedures, or subplans as may be necessary or advisable to comply with such legal, regulatory, tax, or social security provisions. Without limiting the generality of the foregoing, the Committee may make such amendments, modifications, procedures, or subplans that would allow Eligible Individuals or the Company or its Subsidiaries to obtain more favorable tax or social security treatment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.12&nbsp;&nbsp;&nbsp;&nbsp;No Rights to Awards; Non-Uniform Determinations**

No Participant or Eligible Individual shall have any claim to be granted any Award under the Plan. The Company, its Subsidiaries, or the Committee shall not be obligated to treat Participants or Eligible Individuals uniformly, and determinations made under the Plan may be made by the Committee selectively among Participants and/or Eligible Individuals, whether or not such Participants and Eligible Individuals are similarly situated. Awards under a particular Section of the Plan need not be uniform between and among Participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.13&nbsp;&nbsp;&nbsp;&nbsp;Relationship to Other Benefits**

No payment under the Plan shall be taken into account in determining any benefits under any pension, retirement, savings, profit sharing, group insurance, welfare, or benefit plan of the Company or any Subsidiary unless provided otherwise in such plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.14&nbsp;&nbsp;&nbsp;&nbsp;Expenses**

The expenses of administering the Plan shall be borne by the Company and its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.15&nbsp;&nbsp;&nbsp;&nbsp;Titles and Headings**

The titles and headings of the Sections in the Plan are for convenience of reference only, and in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.16&nbsp;&nbsp;&nbsp;&nbsp;Fractional Shares**

The Committee shall have discretion to determine whether fractional Shares may be issued under the Plan. If the Committee determines that fractional Shares will not be issued, the Committee shall determine, in its sole discretion, whether any fractional Share will be settled in cash or eliminated by rounding down to the nearest whole Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.17&nbsp;&nbsp;&nbsp;&nbsp;Government and Other Regulations**

Notwithstanding any other provision of the Plan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;No Participant who acquires Shares pursuant to the Plan may, during any period of time that such Participant is an affiliate of the Company (within the meaning of the regulations promulgated pursuant to the Securities Act of 1933 (the "<u>1933 Act</u>")), sell or offer to sell such

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Shares unless such sale or offer is made (i) pursuant to an effective registration statement under the 1933 Act, which is current and includes the Shares to be sold, or (ii) pursuant to an appropriate exemption from the registration requirements of the 1933 Act, such as that set forth in Rule 144 promulgated under the 1933 Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If at any time the Committee shall determine that the registration, listing, or qualification of the Shares covered by an Award upon the Applicable Exchange or under any foreign, federal, state, or local law or practice, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition of, or in connection with, the granting of such Award or the purchase or receipt of Shares thereunder, no Shares may be purchased, delivered, or received pursuant to such Award unless and until such registration, listing, qualification, consent, or approval shall have been effected or obtained free of any condition not acceptable to the Committee. Any Participant receiving or purchasing Shares pursuant to an Award shall make such representations and agreements and furnish such information as the Committee may request to assure compliance with the foregoing or any other applicable legal requirements. The Company shall not be required to issue or deliver any certificate or certificates for Shares under the Plan prior to the Committee's determination that all related requirements have been fulfilled. The Company shall in no event be obligated to register any Shares or any other securities pursuant to the 1933 Act or applicable state or foreign law or to take any other action in order to cause the issuance and delivery of such certificates to comply with any such law, regulation, or requirement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.18&nbsp;&nbsp;&nbsp;&nbsp;Additional Provisions**

Each Award Agreement may contain such other terms and conditions as the Committee may determine; provided that such other terms and conditions are not inconsistent with the provisions of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.19&nbsp;&nbsp;&nbsp;&nbsp;No Limitations on Rights of the Company**

The grant of any Award shall not in any way affect the right or power of the Company to make adjustments, reclassifications, or changes in its capital or business structure or to merge, consolidate, dissolve, liquidate, sell, or transfer all or any part of its business or assets. The Plan shall not restrict the authority of the Company, for proper corporate purposes, to draft, grant, or assume Awards, other than under the Plan, with respect to any person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.20&nbsp;&nbsp;&nbsp;&nbsp;Severability**

In the event any provision of the Plan shall be held illegal or invalid for any reason, such illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.21&nbsp;&nbsp;&nbsp;&nbsp;Restricted Periods**

Notwithstanding any other provision of this Plan or any Award to the contrary, the Company shall have the authority to establish any restricted period during which certain

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employees of the Company are not allowed to buy or sell Shares that the Company deems necessary or advisable with respect to any or all Awards.

## Exhibit 10.16

**Exhibit 10.16**

**MINIMED GROUP, INC.**

**NON-QUALIFIED STOCK OPTION AGREEMENT**

**2026 MINIMED GROUP, INC. LONG TERM INCENTIVE PLAN**

<u>Name</u>: [•]

<u>Employee ID</u>: [•]

<u>Grant ID</u>: [•]

<u>Grant Date</u>: March 9, 2026

<u>Exercise Price Per Share</u>: [•]

<u>Grant Type</u>: Non-Qualified Stock Option

<u>Shares Awarded</u>: [•]

<u>Expiration Date</u>: [•]

1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Grant of Option</u>**. MiniMed Group, Inc., a Delaware corporation (the "<u>Company</u>"), hereby awards to you, the individual named above, as of the Grant Date, an option (the "<u>Option</u>") to purchase the above number of shares of common stock of the Company, par value $0.01 per share (the "<u>Shares</u>"), for the above Exercise Price Per Share, on the terms and conditions set forth in this Non-Qualified Stock Option Agreement (this "<u>Agreement</u>") and in the 2026 MiniMed Group, Inc. Long Term Incentive Plan (the "<u>Plan</u>"). Unless otherwise defined in this Agreement, a capitalized term in this Agreement will have the same meaning as in the Plan. In the event of any inconsistency between the terms of this Agreement and the Plan, the terms of the Plan shall govern.

The Option is designated as a non-qualified stock option and is not intended to qualify as an "incentive stock option" within the meaning of Section 422 of the Code.

2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Exercise of Option</u>**. The exercise of the Option is subject to the following conditions and restrictions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.&nbsp;&nbsp;&nbsp;&nbsp;**Expiration**. Upon vesting of a portion of the Option, such portion may be exercised in whole or in part until the earlier of (i) the above Expiration Date, or (ii) the expiration of the applicable exercise period following your Termination of Employment, as provided in Sections 2(c), (d), (e), or (f) below. Notwithstanding anything to the contrary, the Term of the Option shall not exceed ten (10) years from the Grant Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.&nbsp;&nbsp;&nbsp;&nbsp;**Schedule of Exercisability**. Subject to Sections 2(c), (d), (e), and (f) below, the Option shall become vested and exercisable as follows: thirty-three percent (33%) of the Shares subject to the Option shall vest on the second anniversary of the Grant Date, an additional thirty-three percent (33%) of the Shares subject to the Option shall vest on the third

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anniversary of the Grant Date, and the remaining thirty-four percent (34%) of the Shares subject to the Option shall vest on the fourth anniversary of the Grant Date (each such anniversary, a "<u>Vesting Date</u>"). Once a portion of the Option has become exercisable, that portion may be exercised at any time during the Term thereafter, subject to Section 2(a) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.&nbsp;&nbsp;&nbsp;&nbsp;**Death or Disability**. Notwithstanding Section 2(b) above, if you incur a Termination of Employment due to your death or Disability (as defined below), the Option shall become fully vested and exercisable as of the date of such Termination of Employment. You may thereafter exercise the vested portion of the Option, in whole or in part, until the earlier of (i) five (5) years following the date of your Termination of Employment due to your death or Disability, as applicable, or (ii) the remaining Term of the Option; provided that, in the case of your death, the Option may be exercised by your Successor (as defined below) within such period. Any such exercise shall be subject to Section 2(h) below.

For purposes of this Agreement:

"<u>Disability</u>" shall have the meaning ascribed to such term under the Disability Policy(ies) maintained by the Company; and

"<u>Successor</u>" shall mean the legal representative of your estate or the person or persons who may, by bequest, inheritance or valid beneficiary designation (as provided in Section 15.7 of the Plan), acquire the right to exercise the Option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.&nbsp;&nbsp;&nbsp;&nbsp;**Retirement**. Notwithstanding Section 2(b) above, if you incur a Termination of Employment as a result of your Retirement (as defined below), the portion of the Option scheduled to vest on the next applicable Vesting Date shall vest on a pro rata basis based on the length of time you were employed between the Vesting Date immediately preceding your Termination of Employment and the Vesting Date immediately following your Termination of Employment (or, if no Vesting Date has yet occurred, between the Grant Date and such following Vesting Date) (rounded up to the nearest whole Option). Any unvested portion shall be irrevocably forfeited and terminated on the date of your Termination of Employment. You may thereafter exercise the vested portion of the Option, in whole or in part, until the earlier of (i) five (5) years following the date of your Termination of Employment or (ii) the remaining Term of the Option, subject to Section 2(h) below.

For purposes of this Agreement:

"<u>Retirement</u>" shall mean the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) &nbsp;&nbsp;&nbsp;&nbsp;your Termination of Employment from the Company or a Subsidiary on or after attaining age fifty-five (55) with at least ten (10) years of service to the Company (which for this purpose shall include Medtronic plc);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) &nbsp;&nbsp;&nbsp;&nbsp;your Termination of Employment on or after attaining age sixty-two (62); or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) &nbsp;&nbsp;&nbsp;&nbsp;if, on the date of your Termination of Employment, you are employed in a country (i.e., receiving pay and benefits from such country) designated in the Retirement Policy(ies) maintained by the Company, the age or combination of age and service (which for this purpose shall include Medtronic plc) applicable to such country under such policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.&nbsp;&nbsp;&nbsp;&nbsp;**Involuntary Termination Without Cause or Reduction in Force**. Notwithstanding Section 2(b) above, if you incur a Termination of Employment due to an involuntary termination by the Company without Cause or due to a reduction in force (as determined by the Committee in its sole discretion), the Option shall become fully vested and exercisable as of the date of such Termination of Employment. You may thereafter exercise the Option, in whole or in part, until the earlier of (i) five (5) years following the date of your Termination of Employment or (ii) the remaining Term of the Option, subject to Section 2(h) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.&nbsp;&nbsp;&nbsp;&nbsp;**Termination for Any Other Reason**. If you incur a Termination of Employment for any reason other than those specified in Sections 2(c), 2(d), or 2(e), any unvested portion of the Option will be irrevocably forfeited and terminated on the date of your Termination of Employment. You may exercise that portion of the Option that was vested but unexercised as of the date of your Termination of Employment for ninety (90) days following the date of your Termination of Employment, subject to Section 2(h) below. At 9:00 p.m. PT (midnight ET) on the date that is ninety (90) days after the date of your Termination of Employment, the Option will expire.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g.&nbsp;&nbsp;&nbsp;&nbsp;**Change of Control**. Notwithstanding any other provision of this Agreement, the Option shall be subject to the provisions of Section 10 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h.&nbsp;&nbsp;&nbsp;&nbsp;**Expiration of Term**. Notwithstanding the foregoing Sections 2(a)-(g), in no event shall the Option be exercisable after the Expiration Date.

3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Manner of Exercise</u>**. To exercise your Option, you must deliver notice of exercise (the "<u>Notice</u>") to the administrator (the "<u>Administrator</u>") designated by the Company to provide services relating to the administration of the Plan at the time of your exercise. The Notice must be given in the manner specified by the Administrator and must specify the number of Shares as to which the Option is being exercised and must be accompanied by payment of the purchase price for the Shares. Payment of the purchase price may be in cash or by certified or bank check or such other instrument or such other method as the Company may accept in accordance with Section 5.8 of the Plan. To the extent permissible under applicable law, payment of the purchase price may also be made by instructing the Company to withhold a number of Shares having a Fair Market Value (as defined in the Plan), determined based on the Fair Market Value of the Shares on the date the applicable Option is exercised equal to the product of (i) the exercise price multiplied by (ii) the number of Shares in respect of which the Option shall have been exercised.

Exercise shall be deemed to occur on the earlier of (i) the date the Notice and the purchase price for the Shares as to which the Option is being exercised are received by the Administrator; and (ii) the date you simultaneously exercise the Option and sell the Shares, using the proceeds from such sale to pay the purchase price.

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4.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Withholding Taxes</u>**. You are responsible for the payment of any federal, state, local, or foreign income, employment, social security, or other taxes required which must be withheld upon the exercise of the Option, and you must promptly pay to the Company any such taxes. The Company and its Subsidiaries (as defined in the Plan) are authorized to deduct from any payment owed to you any taxes required to be withheld with respect to the Shares, including social security and Medicare (FICA) taxes and federal, state and local income tax with respect to income arising from the exercise of the Option. The Company shall have the right to require the payment of any such taxes before issuing any Shares pursuant to an exercise of the Option. In lieu of all or any part of a cash payment, to the extent permissible under applicable law, you may elect to have a portion of the Shares otherwise issuable upon exercise of the Option withheld by the Company to satisfy all or part of the withholding tax requirements relating to the Option exercise with such Shares valued in the same manner as used in computing such withholding taxes. Any fractional Share amount due relating to such tax withholding will be rounded up to the nearest whole Share and the additional amount will be added to your federal withholding. The Company's obligations under the Plan and this Agreement are conditioned upon your satisfaction of such withholding obligations.

5.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Forfeiture</u>**. If you are not a resident or are not based out of a location in the State of California, then, subject to applicable law, if you have received or are entitled to receive the delivery of Shares pursuant to this Agreement within the period beginning six (6) months prior to the date of your Termination of Employment and ending twelve (12) months following the date of your Termination of Employment, the Company, in its sole discretion, may require you to return or forfeit the Shares received or receivable with respect to the Option, in the event that you engage in any of the following activities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.&nbsp;&nbsp;&nbsp;&nbsp;performing services for or on behalf of any competitor of, or competing with, the Company or any Subsidiary, within six (6) months of the date of your Termination of Employment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.&nbsp;&nbsp;&nbsp;&nbsp;unauthorized disclosure of material proprietary information of the Company or any Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.&nbsp;&nbsp;&nbsp;&nbsp;a violation of applicable business ethics policies or business policies of the Company or any Subsidiary; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.&nbsp;&nbsp;&nbsp;&nbsp;any other occurrence determined by the Committee.

The Company's right to require forfeiture must be exercised not later than ninety (90) days after the Company acquires actual knowledge of such an activity, but in no event later than twelve (12) months after your Termination of Employment. Such right shall be deemed to be exercised upon the Company's mailing written notice of such exercise to your most recent home address as shown on the personnel records of the Company. In addition to requiring forfeiture as described herein, the Company may exercise its rights under this Section 5 by preventing or terminating the exercise of any rights under the Option or the acquisition of Shares or cash thereunder.

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If you fail or refuse to forfeit the Shares demanded by the Company (the number of such Shares as may be adjusted for any events described in Section 3.3 of the Plan), you shall be liable to the Company for damages equal to the number of Shares demanded times the highest closing price per Share during the period between the date of your Termination of Employment and the date of any judgment or award to the Company, together with all costs and attorneys' fees incurred by the Company to enforce this provision.

For purposes of this Section 5, forfeiture of Shares shall be effected by the redemption of such Shares in accordance with applicable law.

Notwithstanding the foregoing, this Section 5 shall not apply following a Change of Control and shall not apply to individuals who are residents of the State of California to the extent prohibited by applicable California law.

6.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Clawback; Repayment</u>**. The Option shall be subject to reduction, cancellation, forfeiture or recoupment to the extent necessary to comply with: (i) any clawback, forfeiture or other similar policy adopted by the Board or the Committee and as in effect from time to time (including the Company's Policy for the Recovery of Erroneously Awarded Compensation, as may be amended from time to time) and (ii) applicable law. In addition, if you receive any amount in excess of the amount that you should have otherwise received under the terms of the Option for any reason (including, without limitation, by reason of a financial restatement, mistake in calculations or other administrative error), the Committee may provide that you shall be required to repay any such excess amount to the Company and its Subsidiaries.

7.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Conversion to Stock Settled Appreciation Rights</u>**. At any time following the Grant Date, the Company may convert the Option to a stock-settled Stock Appreciation Right. Upon exercise of a stock-settled Stock Appreciation Right, you shall receive Shares with a value equal to the excess of (i) the Fair Market Value of the Shares on the date of exercise over (ii) the Option Price Per Share multiplied by the number of Shares.

8.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Non-Transferability</u>**. No Option shall be transferable by you other than, for no value or consideration: (i) by will or by the laws of descent and distribution, or (ii) as otherwise expressly permitted by the Committee, including, if so permitted, pursuant to a transfer to your family members, whether directly or indirectly, or by means of a trust, partnership, or otherwise. Any Option shall be exercisable, subject to the terms of the Plan, only by you, your guardian or legal representative, or any person to whom such Option is permissibly transferred pursuant to this Section 8.

9.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Section 409A of the Code</u>**. The Company intends that the Option does not constitute "nonqualified deferred compensation" subject to Section 409A of the Code. This Agreement and the Option shall be interpreted and administered consistent with that intent.

10.&nbsp;&nbsp;&nbsp;&nbsp;**<u>No Right to Continued Employment; No Rights as Shareholder</u>**. This Agreement shall not constitute a contract of employment, and adoption of the Plan shall not confer upon any employee any right to continued employment, nor shall it interfere in any way with the right of the Company or any Subsidiary to terminate your employment at any time. You shall not have

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any rights as a shareholder with respect to any Shares subject to the Option unless and until certificates representing the Shares have been issued by the Company to you or the Shares have otherwise been recorded on the books of the Company or of a duly authorized transfer agent as owned by you.

11.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Global Appendix</u>**. The Option is subject to the additional terms and conditions set forth in the Global Appendix (provided to you separately) applicable to your country of residence or employment. If you relocate to a country included in the Global Appendix, the terms and conditions applicable to such country shall apply to you, to the extent the Company determines that their application is necessary or advisable for legal or administrative reasons. The Global Appendix, as provided to you separately, forms part of this Agreement.

12.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Compliance with the Law</u>**. The exercise of the Option and the issuance or transfer of Shares are subject to compliance by both the Company and you with all applicable federal and state securities laws and the rules of any stock exchange on which the Company's Shares are listed. The Company will not issue any Shares pursuant to this Option unless and until it determines, in its sole discretion and with the advice of its counsel, that all applicable legal and regulatory requirements have been satisfied. You acknowledge that the Company has no obligation to register the Shares with the Securities and Exchange Commission, any state securities authority, or any stock exchange in order to permit the exercise of the Option or the issuance or transfer of Shares.

13.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Notices</u>**. Any notice required or permitted to be delivered to the Company under this Agreement shall be in writing and addressed to Courtney Nelson Wills, Senior Vice President, General Counsel, at the Company's principal corporate offices (or to such other address as the Company may designate in writing). Any notice required or permitted to be delivered to you under this Agreement shall be in writing and addressed to you at your address as reflected in the Company's records (or to such other address as you may designate in writing or by such other method approved by the Company).

14.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Governing Law, Venue and Personal Jurisdiction</u>**. Notwithstanding anything contrary in the Plan or Section 15 of this Agreement, the validity, enforceability, construction and interpretation of the Plan or this Agreement shall be governed by the laws of the State of Delaware, without regard to principles of conflict of laws. You irrevocably waive any right to have the laws of any state or nation or other legal jurisdiction other than the State of Delaware apply to the Plan or this Agreement. Any dispute regarding the Plan or this Agreement that is not subject to Section 15 or is allowed to be brought in court pursuant to Section 15 ("<u>Permitted</u> <u>Court Action</u>") shall be exclusively decided by a state court in the State of Delaware, and you irrevocably waive any right to have any such disputes decided in any jurisdiction or venue other than a state court in the State of Delaware. You irrevocably consent to the personal jurisdiction of the state courts in the State of Delaware for the purposes of any Permitted Court Action, and irrevocably waive any right to remove any case commenced by the Company from a state court in the State of Delaware to any federal court.

15.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Arbitration Agreement</u>**. If you are a U.S. based employee, this Section 15 contains the terms and conditions of an agreement to arbitrate claims (the "<u>Arbitration Agreement</u>") between

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you and the Company. The Federal Arbitration Act ("<u>FAA</u>") (9 U.S.C. §1 et. seq.) applies to and governs this Arbitration Agreement. All claims and disputes covered by this Arbitration Agreement will be decided by a single arbitrator through final and binding arbitration **and not by way of court or jury trial**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.&nbsp;&nbsp;&nbsp;&nbsp;<u>Covered Claims</u>. You and the Company agree that, except as otherwise provided in this Arbitration Agreement, all claims or disputes, past, present, or future, arising out of or related to: (i) this Agreement, (ii) the Option, or (iii) the Plan (including, without limitations, claims for breach of contract, breach of fiduciary duty, and claims for violation of any federal, state, or other governmental law, statute, regulation, or ordinance) will be decided by a single arbitrator through final and binding arbitration under the terms of this Arbitration Agreement. This Arbitration Agreement applies to any disputes that the Company may have against you or that you may have against the Company, and/or any of its past, present, or future (A) officers, directors, members, owners, shareholders, employees, and board members; (B) parents, subsidiaries, and affiliates; (C) Plan Administrators and Committee members or Committees (as those terms are defined in the Plan); and (D) predecessors, successors, or assigns. Each and all of the entities/individuals listed in the preceding sentence may enforce this Arbitration Agreement as a direct or third-party beneficiary. If any claim(s) not covered under this Arbitration Agreement are combined with claims that are covered under this Arbitration Agreement, to the maximum extent permitted under applicable law, the covered claims will be arbitrated and continue to be covered under this Arbitration Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.&nbsp;&nbsp;&nbsp;&nbsp;The arbitrator, and not any federal, state, or local court or agency, shall have exclusive authority to resolve any dispute relating to the scope, interpretation, applicability, enforceability, or waiver of this Arbitration Agreement. However, the preceding sentence does not apply to Section 15(e) of this Agreement. Notwithstanding any other clause or language in this Arbitration Agreement and/or any rules or procedures that might otherwise apply by virtue of this Arbitration Agreement, any claim that all or any portion of the Class Action Waiver (as defined below) is unenforceable, inapplicable, unconscionable, or void or voidable, will be determined only by a court of competent jurisdiction and not by an arbitrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations</u>. This Arbitration Agreement does not cover any claims or disputes that an applicable federal statute expressly states cannot be arbitrated or subject to a pre-dispute arbitration agreement. Both the Company and you may apply to a court of competent jurisdiction as permitted in this Arbitration Agreement for temporary or preliminary injunctive relief in connection with an arbitrable controversy, but only upon the ground that the award to which that party may be entitled may be rendered ineffectual without such relief. The court to which the application is made is authorized to grant temporary or preliminary injunctive relief and may do so with or without addressing the merits of the underlying

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arbitrable dispute, as provided by applicable law of the jurisdiction. All determination of final relief will be decided in arbitration, and the pursuit of temporary or preliminary injunctive relief shall not be deemed incompatible with or constitute a waiver of rights under this Arbitration Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedures</u>. The arbitration will be administered by the American Arbitration Association ("<u>AAA</u>"), and except as provided in this Arbitration Agreement, will be under the then current Commercial Arbitration Rules of the AAA (the "<u>AAA</u> <u>Rules</u>"); provided, however, that if there is a conflict between the AAA Rules and this Arbitration Agreement, this Arbitration Agreement shall govern. Unless the parties jointly agree otherwise, the arbitrator must be a retired judge from any jurisdiction. Unless the parties jointly agree otherwise, the arbitration will take place in the county where you are employed or were last employed by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The arbitrator will be selected as follows: AAA will give each party a list of eleven (11) potential arbitrators (who are subject to the qualifications of the preceding paragraph) drawn from its panel of arbitrators from which the parties will strike alternately by telephone conference administered by AAA, with the claimant to strike first, until only one name remains. That person will be designated as the arbitrator. If the individual selected cannot serve, AAA will issue another list of eleven (11) potential arbitrators and repeat the alternate striking selection process. If AAA will not administer the arbitration, either party may apply to a court of competent jurisdiction with authority over the location where the arbitration will be conducted to appoint a neutral arbitrator, who shall act under this Arbitration Agreement with the same force and effect as if he or she had been specifically named herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;The arbitrator may award any remedy to which a party is entitled under applicable law, but remedies will be limited to those that would be available to a party in their individual capacity for the claims presented to the arbitrator. Either party may file dispositive motions, including without limitation a motion to dismiss and/or a motion for summary judgment and the arbitrator will apply the standards governing such motions under the Federal Rules of Civil Procedure. A party may make an offer of judgment in a manner consistent with, and within the time limitations, consequences, and effects provided in Rule 68 of the Federal Rules of Civil Procedure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;The arbitrator will issue an award by written opinion within thirty (30) days from the date the arbitration hearing concludes. The opinion will be in writing and include the factual and legal basis

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for the award. The award issued by the arbitrator may be entered in any court of competent jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e.&nbsp;&nbsp;&nbsp;&nbsp;<u>Class and Collective Action Waivers</u>. You and the Company agree to bring any claim on an individual basis. Accordingly, YOU AND THE COMPANY WAIVE ANY RIGHT FOR ANY DISPUTE TO BE BROUGHT, HEARD, DECIDED OR ARBITRATED AS A CLASS ACTION AND/OR COLLECTIVE ACTION AND THE ARBITRATOR WILL HAVE NO AUTHORITY TO HEAR OR PRESIDE OVER ANY CLASS AND/OR COLLECTIVE ACTION ("<u>Class</u> <u>Action Waiver</u>"). Additionally, no arbitration proceeding under this Arbitration Agreement may be consolidated or joined in any way with an arbitration proceeding involving claims by different employees. The Class Action Waiver will be severable from this Arbitration Agreement if there is a final judicial determination that the Class Action Waiver is invalid, unenforceable, unconscionable, void, or voidable. In such case, the class and/or collective action must be litigated in a civil court of competent jurisdiction—not in arbitration—but any portion of the Class Action Waiver that is enforceable shall be enforced in arbitration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f.&nbsp;&nbsp;&nbsp;&nbsp;<u>Discovery</u>. Each party may take the deposition of three (3) individual fact witnesses and any expert witness designated by another party. Each party may also propound requests for production of documents, and each party may subpoena witnesses and documents for discovery or the arbitration hearing, including testimony and documents relevant to the case from third parties, in accordance with any applicable state or federal law. Additional discovery may be conducted by mutual stipulation, and the arbitrator will have exclusive authority to entertain requests for additional discovery, and to grant or deny such requests, based on the arbitrator's determination whether additional discovery is warranted by the circumstances of a particular case.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g.&nbsp;&nbsp;&nbsp;&nbsp;<u>Construction</u>. Subject to Section 15(e), which includes its own severability provision, if any provision of this Arbitration Agreement is adjudged to be invalid, unenforceable, unconscionable, or void or voidable, in whole or in part, such adjudication will not affect the validity of the remainder of the Arbitration Agreement. All remaining provisions will remain in full force and effect. The mutual promises by the Company and you to arbitrate provide consideration for this Arbitration Agreement. Your entitlement to an Award provides additional and separate consideration for this Arbitration Agreement. Any contractual disclaimers the Company has in any handbooks, other agreements, or policies do not apply to this Arbitration Agreement. Notwithstanding any contrary language in the Agreement or otherwise, this Arbitration Agreement will survive the termination of the Agreement, the Plan, your employment and the expiration of any benefit.

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16.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Electronic Documents</u>**. Electronic documents may be substituted for any written materials required by the terms of the Plan, including, without limitation, this Agreement.

17.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Agreement</u>**. By accepting your Option grant electronically on the Administrator's website or otherwise accepting or receiving the Option grant, you agree to be bound by the terms and conditions of this Agreement and the Plan, including, without limitation, the Arbitration Agreement. Your signature is not required in order to make this Agreement effective. In addition, you shall be deemed to have accepted and agreed to the terms and conditions of this Agreement and the Plan unless you provide written notice of your objection to the Company within thirty (30) days following the date of receipt of this Agreement.

MiniMed Stock Compensation Operations

MiniMed Group, Inc.

18000 Devonshire St.,

Northridge, CA 91325

rs.minimed-stockcompoperations@medtronic.com

(763) 514-4000

## Exhibit 10.17

**Exhibit 10.17**

**MINIMED GROUP, INC.**

**PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT** 

**2026 MINIMED GROUP, INC. LONG TERM INCENTIVE PLAN**

Name: [•]

Employee ID: [•]

Client Grant ID: [•]

Grant Date: March 9, 2026

Grant Price: [•]

Grant Type: Performance-Based Restricted Stock Unit

Target Performance-Based Restricted Stock Units: [•]

Performance Period: Grant Date to the Divestment Date (as defined in the Separation Agreement, dated March 1, 2026, by and between Medtronic Group Holding, Inc. and Kangaroo US Holdco 2, Inc.).

**1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Grant of Performance-Based Restricted Stock Units</u>**. MiniMed Group, Inc., a Delaware corporation (the "<u>Company</u>"), hereby grants to the individual named above Performance-Based Restricted Stock Units ("<u>Performance-Based Restricted Stock Units</u>") in the number listed above ("<u>Target Performance-Based Restricted Stock Units</u>") and on the Grant Date as each is set forth above. The actual number of Performance-Based Restricted Stock Units that will be earned if the performance threshold is achieved is described in Section 2 below. Each Performance-Based Restricted Stock Unit represents the right to receive, upon vesting, one share of common stock of the Company, par value $0.01 per share ("<u>Share</u>"), subject to the restrictions, limitations, and conditions contained in this Performance-Based Restricted Stock Unit Award Agreement (this "<u>Agreement</u>") and in the 2026 MiniMed Group, Inc. Long Term Incentive Plan (this "<u>Plan</u>"). Unless otherwise defined in this Agreement, a capitalized term in this Agreement will have the same meaning as in the Plan. In the event of any inconsistency between the terms of this Agreement and the Plan, the terms of the Plan will govern.

**2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Performance Targets</u>**. Except as otherwise provided in Section 3 below, if the performance metric (as set forth below) is achieved on the Measurement Date (as defined below), as determined by the Committee in accordance with the below terms, then, subject to Section 3, the Target Performance-Based Restricted Stock Units will fully vest on the last day of the Vesting Period (as defined below). All determinations made by the Committee pursuant to this Section 2 shall be final, binding, and conclusive on all parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Performance Metric**. The sole performance metric applicable to this Award is the achievement of a per Share stock price of at least $32.05 (the "<u>Target Stock Price</u>"), as reported on the Nasdaq Global Select Market (or such other stock exchange on which the Shares are then principally listed or traded) (the "<u>Exchange</u>") as of the close of trading on the Divestment Date (the "<u>Measurement Date</u>").

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Determination of Achievement**. The Target Stock Price shall be deemed achieved if the per share stock price equals or exceeds the Target Stock Price as of the Measurement Date. The Committee shall determine, as soon as practicable following the Measurement Date and in no event later than 60 days following the Measurement Date, whether the Target Stock Price has been achieved.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Earned Performance-Based Restricted Stock Units**. If the Target Stock Price is achieved as of the Measurement Date, 100% of the Target Performance-Based Restricted Stock Units shall be deemed earned in accordance with this Section 2 and shall vest, subject to Section 3, on the last day of the Vesting Period. If the Target Stock Price is not achieved as of the Measurement Date, no Performance-Based Restricted Stock Units shall be earned or vested, and all Performance-Based Restricted Stock Units shall be forfeited and canceled as of such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Committee Discretion**. Notwithstanding anything to the contrary in this Agreement, the Committee shall retain the discretion to cause all or any portion of the Target Performance-Based Restricted Stock Units to vest if the Committee determines, in its sole and absolute discretion, that such vesting is appropriate under the circumstances, regardless of whether the Target Stock Price has been achieved as of the Measurement Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;**Adjustments**. In the event of any stock dividend, stock split, reverse stock split, reorganization, share combination, recapitalization, or similar event affecting the capital structure of the Company, the Target Stock Price shall be equitably adjusted by the Committee to reflect such event, consistent with Section 3.3 of the Plan.

**3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting & Distribution</u>**. The Performance-Based Restricted Stock Units, to the extent earned based on attainment of the performance measures as determined by the Committee in accordance with Section 2 above, will fully vest on the one year anniversary of the Grant Date, provided that you have not incurred a Termination of Employment during the period beginning on the Grant Date and ending on the one year anniversary of the Grant Date (the "<u>Vesting Period</u>"). The Company will issue to you a number of Shares equal to the number of Performance-Based Restricted Stock Units that are earned (including any dividend equivalents described in Section 6, below) as soon as practicable following the end of the Vesting Period, and in no event later than two and one-half months after the end of the calendar year in which the end of the Vesting Period occurs.

Notwithstanding the preceding sentence:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Death, Disability, Involuntary Termination Without Cause or Reduction in Force**. If you incur a Termination of Employment during the Vesting Period as a result of your death, Disability (as defined below), Termination of Employment without Cause, or reduction in force, the unvested Performance-Based Restricted Stock Units shall remain outstanding and eligible to be earned based on actual performance on the Measurement Date, as though you had remained employed through the end of the Vesting Period, and you (or your Successor (as defined below), as applicable) will remain entitled to receive a number of Shares equal to the number of Performance-Based Restricted Stock Units that

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are earned (including any dividend equivalents described in Section 6, below) as soon as practicable following the end of the Vesting Period, and in no event later than two and one-half months after the end of the calendar year in which the end of the Vesting Period occurs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Termination for Any Other Reason**. If you incur a Termination of Employment during the Vesting Period for any reason other than those specified in Section 3(a), the Performance-Based Restricted Stock Units will automatically be forfeited in full and canceled by the Company as of 9:00 p.m. PT (midnight ET) on the date of such Termination of Employment.

For purposes of this Agreement, the term (i) "<u>Disability</u>" shall have the meaning ascribed to it under the Disability Policy(ies) maintained by the Company and (ii) "<u>Successor</u>" shall mean the legal representative of your estate or the person or persons who may, by bequest, inheritance or valid beneficiary designation (as provided in Section 15.7 of the Plan), acquire the right to your Performance-Based Restricted Stock Units.

**4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Forfeiture</u>**. If you are not a resident or are not based out of a location in the State of California, then, subject to applicable law, if you have received or are entitled to receive the delivery of Shares as a result of this Agreement within the period beginning six (6) months prior to the date of your Termination of Employment and ending twelve (12) months following the date of your Termination of Employment, the Company, in its sole discretion, may require you to return or forfeit the Shares received or receivable with respect to this Award of Performance-Based Restricted Stock Units, in the event that you engage in any of the following activities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;performing services for or on behalf of any competitor of, or competing with, the Company or any Subsidiary, within six (6) months of the date of your Termination of Employment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;unauthorized disclosure of material proprietary information of the Company or any Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;a violation of applicable business ethics policies or business policies of the Company or any Subsidiary; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;any other occurrence determined by the Committee.

The Company's right to require forfeiture must be exercised not later than ninety (90) days after the Company acquires actual knowledge of such an activity but in no event later than twelve (12) months after your Termination of Employment. Such right shall be deemed to be exercised upon the Company's mailing written notice of such exercise to your most recent home address as shown on the personnel records of the Company. In addition to requiring forfeiture as described herein, the Company may exercise its rights under this Section 4 by terminating the Performance-Based Restricted Stock Units awarded under this Agreement.

If you fail or refuse to forfeit the Shares demanded by the Company (the number of such Shares as may be adjusted for any events described in Section 3.3 of the Plan), you shall be liable to the Company for damages equal to the number of Shares demanded times the highest closing price

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per Share during the period between the date of your Termination of Employment and the date of any judgment or award to the Company, together with all costs and attorneys' fees incurred by the Company to enforce this provision.

For purposes of this Section 4, forfeiture of Shares shall be effected by the redemption of such Shares in accordance with applicable law.

Notwithstanding the foregoing, this Section 4 shall not apply following a Change of Control and shall not apply to individuals who are residents of the State of California to the extent prohibited by applicable California law.

**5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Change of Control</u>**. Notwithstanding any other provision of this Agreement, the Award shall be subject to the provisions of Section 10 of the Plan.

**6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Dividend Equivalents</u>**. In the event that the Company declares and pays a cash dividend on the Shares, you will be entitled to receive dividend equivalents on the Performance-Based Restricted Stock Units generally in the same manner and at the same time as if each Performance-Based Restricted Stock Unit were a Share. For the avoidance of doubt, no dividend equivalents shall be payable unless and until the Company declares and pays a dividend on the Shares. Any such dividend equivalents will be credited to you in the form of additional Performance-Based Restricted Stock Units. The additional Performance-Based Restricted Stock Units will be subject to the terms (including the vesting requirements) of this Agreement.

**7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Clawback; Repayment</u>**. The Performance-Based Restricted Stock Units shall be subject to reduction, cancellation, forfeiture or recoupment to the extent necessary to comply with (i) any clawback, forfeiture or other similar policy adopted by the Board or the Committee and as in effect from time to time (including the Company's Policy for the Recovery of Erroneously Awarded Compensation, as may be amended from time to time) and (ii) applicable law. In addition, if you receive any amount in excess of the amount that you should have otherwise received under the terms of the Performance-Based Restricted Stock Units for any reason (including, without limitation, by reason of a financial restatement, mistake in calculations or other administrative error), the Committee may provide that you shall be required to repay any such excess amount to the Company and its Subsidiaries.

**8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Withholding Taxes</u>**. You are responsible to promptly pay any Social Security and Medicare taxes (together, "<u>FICA</u>") due upon vesting of the Performance-Based Restricted Stock Units, and any Federal, State, local, foreign income, employment, social security or other taxes due upon distribution of the Shares. The Company and its Subsidiaries are authorized to deduct from any payment to you any such taxes required to be withheld. As described in Section 15.4 of the Plan and to the extent permissible under applicable law, you may elect to have the Company withhold a portion of the Shares issued upon settlement of the Performance-Based Restricted Stock Units to satisfy all or part of the withholding tax requirements. You may also elect, at the time you vest in the Performance-Based Restricted Stock Units, to pay your FICA liability due with respect to those Performance-Based Restricted Stock Units out of those units. If you choose to do so, the Company will reduce the number of your vested Performance-Based Restricted Stock Units accordingly. The amount that is applied to pay FICA will be subject to Federal, State, and local

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taxes. The Company's obligations under the Plan and this Agreement are conditioned upon your satisfaction of such withholding obligations.

**9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitation of Rights</u>**. Except as set forth in this Agreement, until the Shares are issued to you in settlement of your Performance-Based Restricted Stock Units, you do not have any right in, or with respect to, any Shares (including any voting rights) by reason of this Agreement. Further, you may not transfer or assign your rights under this Agreement and you do not have any rights in the Company's assets that are superior to a general, unsecured creditor of the Company by reason of this Agreement.

**10.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Employment Contract</u>**. Nothing contained in the Plan or Agreement creates any right to your continued employment or otherwise affects your status as an employee at will. You hereby acknowledge that the Company and you each have the right to terminate your employment at any time for any reason or for no reason at all.

**11.&nbsp;&nbsp;&nbsp;&nbsp;<u>Section 409A of the Code</u>**. The Company intends that payments under this Agreement shall comply with Section 409A of the Code, to the extent applicable, and this Agreement and the Performance-Based Restricted Stock Units shall be interpreted and administered consistent with that intent. For purposes of Section 409A, to the extent the Performance-Based Restricted Stock Units constitute "deferred compensation" within the meaning of Section 409A, (a) a Termination of Employment shall not be deemed to occur unless it constitutes a "separation from service" within the meaning of Section 409A of the Code; and (b) each payment or benefit shall be treated as a separate and distinct payment. To the extent the Performance-Based Restricted Stock Units constitute "deferred compensation" within the meaning of Section 409A of the Code, any payment triggered by the Participant's Disability shall be made only if such Disability constitutes a "disability" within the meaning of Section 409A(a)(2)(C) of the Code and Treasury Regulation Section 1.409A-3(i)(4); if not, payment shall be made at the time and in the manner that would have applied absent such Disability event. Notwithstanding the foregoing, if you are a "specified employee" within the meaning of Section 409A(a)(2)(B)(i) of the Code, any amounts that would otherwise be payable, or benefits that would otherwise be provided, during the six (6)-month period following your separation from service shall be delayed and paid in a lump sum on the first business day following the date that is six (6) months after your separation from service (or, if earlier, your death), to the extent required by Section 409A of the Code. The Company makes no representation that any payment or benefit under this Agreement is exempt from, or compliant with, Section 409A of the Code and shall have no liability for any tax, interest, or penalty imposed under Section 409A of the Code, or for any damages resulting from a failure to comply with Section 409A of the Code.

**12.&nbsp;&nbsp;&nbsp;&nbsp;<u>Global Appendix</u>**. This grant of Performance-Based Restricted Stock Units is subject to the additional terms and conditions set forth in the Global Appendix (provided to you separately) applicable to your country of residence or employment. If you relocate to a country included in the Global Appendix, the terms and conditions applicable to such country shall apply to you, to the extent the Company determines that their application is necessary or advisable for legal or administrative reasons. The Global Appendix, as provided to you separately, forms part of this Agreement.

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**13.&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with the Law</u>**. The issuance or transfer of Shares pursuant to this grant of Performance-Based Restricted Stock Units are subject to compliance by both the Company and you with all applicable federal and state securities laws and the rules of any stock exchange on which the Company's Shares are listed. The Company will not issue any Shares pursuant to this grant of Performance-Based Restricted Stock Units unless and until it determines, in its sole discretion and with the advice of its counsel, that all applicable legal and regulatory requirements have been satisfied. You acknowledge that the Company has no obligation to register the Shares with the Securities and Exchange Commission, any state securities authority, or any stock exchange in order to permit the transfer of Shares.

**14.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>**. Any notice required or permitted to be delivered to the Company under this Agreement shall be in writing and addressed to Courtney Nelson Wills, Senior Vice President, General Counsel, at the Company's principal corporate offices (or to such other address as the Company may designate in writing). Any notice required or permitted to be delivered to you under this Agreement shall be in writing and addressed to you at your address as reflected in the Company's records (or to such other address as you may designate in writing or by such other method approved by the Company).

**15.&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law, Venue and Personal Jurisdiction</u>**. Notwithstanding anything contrary in the Plan, or Section 16 of this Agreement, the validity, enforceability, construction and interpretation of the Plan or this Agreement shall be governed by the laws of the State of Delaware, without regard to principles of conflict of laws. You irrevocably waive any right to have the laws of any state or nation or other legal jurisdiction other than the State of Delaware apply to the Plan or this Agreement, including any dispute regarding the Plan or this Agreement that is not subject to Section 16 or is allowed to be brought in court pursuant to Section 16 ("<u>Permitted Court Action</u>"). Any dispute regarding the Plan or Agreement shall be exclusively decided by a state court in the State of Delaware, and you irrevocably waive any right to have any such disputes decided in any jurisdiction or venue other than a state court in the State of Delaware. You irrevocably consent to the personal jurisdiction of the state courts in the State of Delaware for the purposes of any Permitted Court Action, and irrevocably waive any right to remove any case commenced by the Company from a state court in the State of Delaware to any federal court.

**16.&nbsp;&nbsp;&nbsp;&nbsp;<u>Arbitration Agreement</u>**. If you are a U.S. based employee, this Section 16 contains the terms and conditions of an agreement to arbitrate claims (the "<u>Arbitration Agreement</u>") between you and the Company. The Federal Arbitration Act ("<u>FAA</u>") (9 U.S.C. §1 et. seq.) applies to and governs this Arbitration Agreement. All claims and disputes covered by this Arbitration Agreement will be decided by a single arbitrator through final and binding arbitration **and not by way of court or jury trial**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Covered Claims</u>. You and the Company agree that, except as otherwise provided in this Arbitration Agreement, all claims or disputes, past, present, or future, arising out of or related to: (i) this Agreement, (ii) the Award, or (iii) the Plan (including, without limitations, claims for breach of contract, breach of fiduciary duty, and claims for violation of any federal, state, or other governmental law, statute, regulation, or ordinance) will be decided by a single arbitrator through final and binding arbitration

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under the terms of this Arbitration Agreement. This Arbitration Agreement applies to any disputes that the Company may have against you or that you may have against the Company, and/or any of its past, present, or future (A) officers, directors, members, owners, shareholders, employees, and board members; (B) parents, subsidiaries, and affiliates; (C) Plan Administrators and Committee members or Committees (as those terms are defined in the Plan); and (D) predecessors, successors, or assigns. Each and all of the entities/individuals listed in the preceding sentence may enforce this Arbitration Agreement as a direct or third-party beneficiary. If any claim(s) not covered under this Arbitration Agreement are combined with claims that are covered under this Arbitration Agreement, to the maximum extent permitted under applicable law, the covered claims will be arbitrated and continue to be covered under this Arbitration Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The arbitrator, and not any federal, state, or local court or agency, shall have exclusive authority to resolve any dispute relating to the scope, interpretation, applicability, enforceability, or waiver of this Arbitration Agreement. However, the preceding sentence does not apply to Section 16(e). Notwithstanding any other clause or language in this Arbitration Agreement and/or any rules or procedures that might otherwise apply by virtue of this Arbitration Agreement, any claim that all or any portion of the Class Action Waiver (as defined below) is unenforceable, inapplicable, unconscionable, or void or voidable, will be determined only by a court of competent jurisdiction and not by an arbitrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Limitations</u>. This Arbitration Agreement does not cover any claims or disputes that an applicable federal statute expressly states cannot be arbitrated or subject to a pre-dispute arbitration agreement. Both the Company and you may apply to a court of competent jurisdiction as permitted in this Arbitration Agreement for temporary or preliminary injunctive relief in connection with an arbitrable controversy, but only upon the ground that the award to which that party may be entitled may be rendered ineffectual without such relief. The court to which the application is made is authorized to grant temporary or preliminary injunctive relief and may do so with or without addressing the merits of the underlying arbitrable dispute, as provided by applicable law of the jurisdiction. All determination of final relief will be decided in arbitration, and the pursuit of temporary or preliminary injunctive relief shall not be deemed incompatible with or constitute a waiver of rights under this Arbitration Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<u>Procedures</u>. The arbitration will be administered by the American Arbitration Association ("<u>AAA</u>"), and except as provided in this Arbitration Agreement, will be under the then current Commercial Arbitration Rules of the AAA (the "<u>AAA Rules</u>"); provided, however, that if there is a conflict between the AAA Rules and this Arbitration Agreement, this Arbitration Agreement shall govern. Unless the parties jointly agree otherwise, the arbitrator must be a retired judge from any jurisdiction. Unless the parties jointly agree otherwise, the arbitration will take place in the county where you are employed or were last employed by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The arbitrator will be selected as follows: AAA will give each party a list of eleven (11) potential arbitrators (who are subject to the qualifications of the preceding

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paragraph) drawn from its panel of arbitrators from which the parties will strike alternately by telephone conference administered by AAA, with the claimant to strike first, until only one name remains. That person will be designated as the arbitrator. If the individual selected cannot serve, AAA will issue another list of eleven (11) potential arbitrators and repeat the alternate striking selection process. If AAA will not administer the arbitration, either party may apply to a court of competent jurisdiction with authority over the location where the arbitration will be conducted to appoint a neutral arbitrator, who shall act under this Arbitration Agreement with the same force and effect as if he or she had been specifically named herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;The arbitrator may award any remedy to which a party is entitled under applicable law, but remedies will be limited to those that would be available to a party in their individual capacity for the claims presented to the arbitrator. Either party may file dispositive motions, including without limitation a motion to dismiss and/or a motion for summary judgment and the arbitrator will apply the standards governing such motions under the Federal Rules of Civil Procedure. A party may make an offer of judgment in a manner consistent with, and within the time limitations, consequences, and effects provided in Rule 68 of the Federal Rules of Civil Procedure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;The arbitrator will issue an award by written opinion within thirty (30) days from the date the arbitration hearing concludes. The opinion will be in writing and include the factual and legal basis for the award. The award issued by the arbitrator may be entered in any court of competent jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<u>Class and Collective Action Waivers</u>. You and the Company agree to bring any claim on an individual basis. Accordingly, YOU AND THE COMPANY WAIVE ANY RIGHT FOR ANY DISPUTE TO BE BROUGHT, HEARD, DECIDED OR ARBITRATED AS A CLASS ACTION AND/OR COLLECTIVE ACTION AND THE ARBITRATOR WILL HAVE NO AUTHORITY TO HEAR OR PRESIDE OVER ANY CLASS AND/OR COLLECTIVE ACTION ("<u>Class Action Waiver</u>"). Additionally, no arbitration proceeding under this Arbitration Agreement may be consolidated or joined in any way with an arbitration proceeding involving claims by different employees. The Class Action Waiver will be severable from this Arbitration Agreement if there is a final judicial determination that the Class Action Waiver is invalid, unenforceable, unconscionable, void, or voidable. In such case, the class and/or collective action must be litigated in a civil court of competent jurisdiction—not in arbitration—but any portion of the Class Action Waiver that is enforceable shall be enforced in arbitration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;<u>Discovery</u>. Each party may take the deposition of three (3) individual fact witnesses and any expert witness designated by another party. Each party may also propound requests for production of documents, and each party may subpoena witnesses and documents for discovery or the arbitration hearing, including testimony and documents relevant to the case from third parties, in accordance with any applicable state or federal law. Additional discovery may be conducted by mutual stipulation, and the arbitrator will have exclusive authority to entertain requests for additional discovery, and to grant or deny such

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requests, based on the arbitrator's determination whether additional discovery is warranted by the circumstances of a particular case.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;<u>Construction</u>. Subject to Section 16(e), which includes its own severability provision, if any provision of this Arbitration Agreement is adjudged to be invalid, unenforceable, unconscionable, or void or voidable, in whole or in part, such adjudication will not affect the validity of the remainder of the Arbitration Agreement. All remaining provisions will remain in full force and effect. The mutual promises by the Company and you to arbitrate provide consideration for this Arbitration Agreement. Your entitlement to an Award provides additional and separate consideration for this Arbitration Agreement. Any contractual disclaimers the Company has in any handbooks, other agreements, or policies do not apply to this Arbitration Agreement. Notwithstanding any contrary language in the Agreement or otherwise, this Arbitration Agreement will survive the termination of the Agreement, the Plan, your employment and the expiration of any benefit.

**17.&nbsp;&nbsp;&nbsp;&nbsp;<u>Electronic Documents</u>**. Electronic documents may be substituted for any written materials required by the terms of the Plan, including without limitation, this Agreement.

**18.&nbsp;&nbsp;&nbsp;&nbsp;<u>Agreement</u>**. By accepting your stock grant electronically on the administrator's website or otherwise accepting or receiving the stock grant, you agree to be bound by the terms and conditions of this Agreement and the Plan, including, without limitation, the Arbitration Agreement. Your signature is not required in order to make this Agreement effective. In addition, you shall be deemed to have accepted and agreed to the terms and conditions of this Agreement and the Plan unless you provide written notice of your objection to the Company within thirty (30) days following the date of receipt of this Agreement.

MiniMed Stock Compensation Operations

MiniMed Group, Inc.

18000 Devonshire St.,

Northridge, CA 91325

<u>rs.minimed.stockcompoperations@medtronic.com</u>

(763) 514-4000

## Exhibit 10.18

**Exhibit 10.18**

**MINIMED GROUP, INC.**

**2026 EMPLOYEE STOCK PURCHASE PLAN**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.&nbsp;&nbsp;&nbsp;&nbsp;Purpose of Plan**.

MiniMed Group, Inc. (hereinafter referred to as the "<u>Company</u>") proposes to grant to Employees of the Company and its Subsidiaries the opportunity to purchase shares of common stock, par value $0.01 per share, of the Company ("<u>Shares</u>"). Such Shares shall be purchased pursuant to this Plan, which is the MiniMed Group, Inc. 2026 Employee Stock Purchase Plan (hereinafter referred to as the "<u>Plan</u>"). The Company intends that the Plan qualify as an "employee stock purchase plan" under Section 423 of the Code and shall be construed in a manner consistent with the requirements of Section 423, or any successor provision, and the regulations thereunder. The Plan is intended to encourage stock ownership by all Employees of a Participating Employer, and to be an incentive to them to remain in its employ, improve operations, increase profits and contribute more significantly to the Company's success.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.&nbsp;&nbsp;&nbsp;&nbsp;Definitions**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Board of Directors</u>" shall mean the Company's Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Code</u>" shall mean the Internal Revenue Code of 1986, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Committee</u>" shall mean the Compensation and Talent Committee of the Board of Directors, or any subcommittee, subcommittees, or other persons or groups of persons to whom the Committee delegates authority pursuant to Section 3 of the Plan, to the extent of such delegation, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Corporate Transaction</u>" shall mean (i) a dissolution or liquidation of the Company, (ii) a sale of substantially all of the assets of the Company, (iii) a merger, consolidation or reorganization of the Company with or into any other corporation, regardless of whether the Company is the surviving corporation, or (iv) a statutory share exchange or consolidation (or similar corporate transaction) involving capital stock of the Company. Notwithstanding anything to the contrary contained herein, none of the Initial Public Offering, the Divestment or the Other Disposition (each as defined in the Separation Agreement dated March 1, 2026, by and between Medtronic Group Holding, Inc. and Kangaroo US HoldCo 2, Inc., as may be amended from time to time) shall constitute a Corporate Transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Employee</u>" shall mean any individual who, as of the eligibility date established under Section 5 hereof, is classified as an employee of the Company or a Participating Employer; provided, however, that such classification shall not exclude any employee who would not be permitted to be excluded from the Plan under Section 423 of the Code. If a person is not considered to be an employee of the Company or a Participating Employer in accordance with the preceding sentence, a subsequent determination by the Company, a Participating Employer, any governmental agency, or a court that such person is a common law employee of the Company or a Participating Employer, even if such determination is applicable to prior years, will not have retroactive effect for purposes of eligibility to participate in the Plan.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Exchange Act</u>" shall mean the Securities Exchange Act of 1934, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Participant</u>" shall mean an Employee who has elected to participate in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Participating Employer</u>" shall mean MiniMed Group, Inc. and all of its Subsidiaries (or any of their successors and assigns, by merger, purchase or otherwise, that thereby become Subsidiaries), except for those Subsidiaries that MiniMed Group, Inc. elects from time to time, by resolution duly adopted by its Board of Directors, the Committee or the Committee's delegate pursuant to Paragraph 3 hereof, to be ineligible to participate in this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Purchase Period</u>" shall mean a period during which Participants are eligible to purchase Shares pursuant to the terms of the Plan. The Committee shall determine the length, start date, and end date of each Purchase Period, provided that no Purchase Period shall exceed 27 months.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Rate of Exchange</u>" shall mean the exchange rate used by the Company to record transactions on its financial records each month in which the payroll deductions or refunds are processed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Salary</u>" shall mean the amount paid during the applicable Purchase Period by the Participating Employer to or for the Participant as cash compensation, including, without limitation, salary, wages, sales commissions, formula bonus and short-term incentive plan payments, overtime, salary continuation payments and sick pay. Where applicable, Salary shall be calculated before deduction of (A) any income or employment tax withholdings or (B) any contributions made by the Participant to any salary deferral plan under Section 401(k) of the Code or cafeteria benefit program under Section 125 of the Code now or hereafter established by the Company or any Participating Employer. Salary shall not include any contributions made on the Participant's behalf by the Company or any Participating Employer to any employee benefit or welfare plan now or hereafter established (other than Section 401(k) or Section 125 of the Code contributions deducted from such Salary).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Subsidiary</u>" shall mean a "subsidiary corporation", whether now or hereafter existing, as defined in Section 424(f) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;&nbsp;&nbsp;"<u>Termination of Employment</u>" shall mean an Employee's complete termination of employment with MiniMed Group, Inc. and all of its Subsidiaries. In the event that any Subsidiary of MiniMed Group, Inc. ceases to be a Subsidiary of MiniMed Group, Inc., the Employees of such Subsidiary shall be considered to have terminated their employment as of the date such Subsidiary ceases to be a Subsidiary, whether or not they continue in employment with such former Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.&nbsp;&nbsp;&nbsp;&nbsp;Administration**.

Initially, and unless and until otherwise determined by the Board of Directors, the Committee shall administer the Plan. Subject to the express provisions of the Plan, the Committee shall have full authority, in its discretion, to interpret and construe any and all

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provisions of the Plan, to adopt rules and regulations for administering the Plan, and to make all other determinations deemed necessary or advisable for administering the Plan. The Committee's determination on the foregoing matters shall be conclusive. Any authority granted to the Committee may also be exercised by the full Board of Directors. To the extent that any permitted action taken by the Board of Directors conflicts with action taken by the Committee, the action taken by the Board of Directors shall control. No member of the Board of Directors or the Committee shall be liable for any action or determination made in good faith with respect to the Plan or any option granted or Shares issued under the Plan.

The Board of Directors shall fill all vacancies on the Committee and may remove any member of the Committee at any time, with or without cause. All determinations of the Committee shall be made by a majority vote of its members. Any decision which is made in writing and signed by a majority of the members of the Committee shall be effective as fully as though made by a majority vote at a meeting duly called and held. Except to the extent prohibited by applicable law or the listing standards of any stock exchange upon which the Shares may then be listed, the Committee may delegate all or any part of its responsibilities and powers to any person or persons selected by it.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.&nbsp;&nbsp;&nbsp;&nbsp;Duration and Purchase Periods of the Plan**.

The Plan commenced as of March 9, 2026, and will terminate ten (10) years thereafter, unless extended by the Board of Directors. Notwithstanding the foregoing, this Plan shall be considered of no force or effect and any options granted hereunder shall be considered null and void unless the holders of a majority of all of the Company's issued and outstanding Shares approve the Plan within the twelve (12) consecutive month period immediately preceding or following the date of adoption of the Plan by the Board of Directors.

Unless otherwise determined by the Committee, the Plan shall be carried out in a series of consecutive Purchase Periods, which may be consecutive calendar quarters. The Committee shall determine the length, start date, and end date of each Purchase Period, provided that no Purchase Period shall exceed 27 months. Unless otherwise determined by the Committee, each Purchase Period shall commence immediately after termination of the previous Purchase Period. In the event that all of the Shares reserved for grant of options hereunder are issued pursuant to the terms hereof prior to the commencement of one or more of the scheduled Purchase Periods, or the number of Shares remaining for optioning is so small, in the opinion of the Committee, as to render administration of any succeeding Purchase Period impracticable, such Purchase Period or Purchase Periods may be canceled. Notwithstanding anything in the Plan to the contrary, the Board of Directors, the Committee or the Committee's delegate pursuant to Paragraph 3 hereof may, in its, her or his discretion, designate a different commencement date for a Purchase Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.&nbsp;&nbsp;&nbsp;&nbsp;Eligibility**.

Each Employee who is employed by a Participating Employer immediately preceding the commencement date of a Purchase Period shall be eligible to participate in the Plan for such Purchase Period, provided that he or she has satisfied the enrollment requirements described in Section 6.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.&nbsp;&nbsp;&nbsp;&nbsp;Participation**.

Participation in the Plan is voluntary. An eligible Employee may elect to participate in the Plan for any Purchase Period by completing the Plan payroll deduction form provided by his or her Participating Employer and delivering it to the Participating Employer or its designated representative not later than the date preceding the commencement date of the Purchase Period specified by the Chief Human Resources Officer of the Company (or such other individual as may be designated by the Committee), which form shall comply with the requirement of Section 423(b)(5) of the Code that all Employees who elect to participate in the Plan shall have the same rights and privileges. All forms under the Plan may be paper and/or electronic in nature.

An Employee who elects to participate in the Plan for any Purchase Period shall be deemed to have elected to participate in the Plan for each subsequent consecutive Purchase Period unless such Participant elects to discontinue payroll deductions during a Purchase Period or exercises his or her right to withdraw all amounts previously withheld as provided in Paragraph 9(a). In this event, the Participant must submit a change of election form or a new payroll deduction form, as the case may be, to participate in the Plan for any subsequent Purchase Period. A Participant may also increase his or her participation for any subsequent Purchase Period by submitting a new payroll deduction form during the enrollment period prior to that Purchase Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.&nbsp;&nbsp;&nbsp;&nbsp;Payroll Deductions**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Employee electing to participate shall indicate such election on the Plan payroll deduction form by designating that percentage of his or her Salary that he or she wishes to have deducted. Such percentage shall be stated in whole percentage points and shall be not less than two percent (2%) nor more than ten percent (10%) of the Participant's Salary, or such other minimum and maximum percentages as the Committee or Chief Human Resources Officer (or such other individual as may be designated by the Committee), may establish from time to time prior to the start date of a Purchase Period, but not to exceed fifteen percent (15%).

Payroll deductions for a Participant shall commence on the first payday coinciding with or immediately following the commencement date of the Purchase Period and shall terminate on the last payday immediately prior to or coinciding with the termination date of that Purchase Period, unless sooner terminated by the Participant as provided in Paragraphs 7(b) or 9 hereof. The authorized deductions shall be made over the pay periods of such Purchase Period by deducting from the Participant's Salary for each such pay period the percentage specified by the Participant as of the commencement date of the Purchase Period. Except for a Participant's rights to reduce or discontinue deductions pursuant to Paragraphs 7(b) and 9 hereof, the same percentage deduction shall be applied against the Participant's Salary for each pay period during such Purchase Period, whether or not the Participant's Salary level increases or decreases after the commencement date of such Purchase Period.

The extent to which a Participant may actually exercise his or her option shall be based upon the amount actually withheld for such Participant as of the termination date of the Purchase Period.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;A Participant shall not be entitled to increase the percentage amount to be deducted in a given Purchase Period after the delivery deadline specified in Paragraph 6 for filing his or her payroll deduction form. The Participant may elect at any time prior to or during a Purchase Period to decrease the percentage amount to be deducted or discontinue any further deductions in a given Purchase Period by filing an amended election form at least thirty (30) days prior to the first payroll date as of which such decrease or discontinued deduction is to become effective, or such other date as determined by the Committee or Chief Human Resources Officer (or such other individual as may be designated by the Committee) prior to the start date of a Purchase Period. In the event of such a decrease or discontinuance of deductions, the extent to which such Participant may exercise his or her option as of the termination date of the Purchase Period shall depend upon the amount actually withheld through payroll deductions for such Participant. A Participant may also completely discontinue participation in the Plan as provided in Paragraph 9 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Payroll deductions which are authorized by Participants who are paid compensation in foreign currency shall be maintained in payroll deduction accounts (as provided in Paragraph 11) in the country in which such Participant is employed until exercise of the option. Upon exercise of the option granted to such Participant, the amount so withheld shall be used to purchase up to the maximum number of Shares which is subject to that Participant's option pursuant to Paragraph 8(a)(i) below, determined on the basis of the Rate of Exchange for currency as of the exercise date. Upon exercise of the option, the option price shall be paid to the Company in dollars after having been converted at the Rate of Exchange as of the exercise date, and the extent to which the Participant may exercise his or her option is dependent, in part, upon the Rate of Exchange as of such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;In the event a Participant is on a paid leave of absence during a Purchase Period, the Participant's payroll deductions shall continue uninterrupted during such paid leave. In the event a Participant is on an unpaid leave of absence during a Purchase Period, the Participant may make arrangements to pay the payroll deductions that would have been deducted from the Participant's Salary during the Purchase Period. In all cases, the extent to which the Participant may actually exercise his or her option shall be based upon the amount actually withheld or paid by the Participant as of the termination date of the Purchase Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.&nbsp;&nbsp;&nbsp;&nbsp;Options**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Grant of Option**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;**Number of Shares**. A Participant who is employed by the Participating Employer as of the commencement date of a Purchase Period shall be granted an option on the commencement date of that Purchase Period to purchase a number of Shares determined by dividing the total amount actually credited to that Participant's account under Paragraph 7 hereof by the option price set forth in Paragraph 8(a)(ii); provided, that such option shall be subject to the limitations in Paragraph 8(a)(iv).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;**Option Price**. For each Purchase Period, the Committee shall determine, in its discretion, the option price per Share, provided, that such option price shall not be

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less than eighty-five percent (85%) of the lesser of (A) the fair market value per Share on the commencement date of the Purchase Period and (B) the fair market value per Share on the termination date of the Purchase Period, provided further, in each case, that such option price shall not be less than the nominal value of a Share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;**Fair Market Value**. The fair market value of the Shares on such date (or the last preceding business day if such date is a Saturday, Sunday or holiday) shall be computed as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;If the Company's Shares shall be listed on any national securities exchange, then such price shall be computed on the basis of the closing sale price of the Shares on such exchange on such date, or, if no sale of the Shares has occurred on such exchange on that date, on the next preceding date on which there was a sale of the Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;If the Shares shall not be so listed, then such price shall be the mean between the highest bid and asked prices quoted by a recognized market maker in the Shares on such date; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;&nbsp;&nbsp;&nbsp;If the Shares shall not be so listed and such bid and asked prices shall not be so quoted, then such price shall be determined by an investment banking firm acceptable to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;**Limitations on Purchase**. Notwithstanding anything herein to the contrary:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;No Participant shall have the right to purchase Shares under all employee stock purchase plans of the Company, its Subsidiaries or its parent, if any, at a rate which exceeds $25,000 of fair market value of such Shares as determined at the time such option is granted (which equals $21,250 of Shares at 85% of fair market value) for each calendar year in which such option is outstanding at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;No Employee shall be granted an option if, immediately after the grant, such Employee would own stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company, its parent, if any, or of any Subsidiary of the Company. For purposes of determining stock ownership under this subparagraph (B), the rules of Section 424(d) of the Code, or any successor provision, shall apply, and stock that the Employee may purchase under outstanding options shall be treated as stock owned by the Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.&nbsp;&nbsp;&nbsp;&nbsp;The Committee may, in its discretion, limit the number of Shares available for option grants during any Purchase Period, as it deems appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Exercise of Option**. Except as otherwise specified in Paragraph 9, the Participant's option for the purchase of such number of Shares as determined pursuant to

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Paragraph 8(a) will be exercised automatically for him or her as of the termination date of that Purchase Period. In no event shall a Participant be allowed to exercise his or her option for more Shares than can be purchased with the payroll deductions actually credited to his or her account during such Purchase Period, whether or not the deductions actually credited are less than the full amount to be credited as determined on the commencement date of the Purchase Period pursuant to Paragraph 7(a) hereof, it being intended that the sufficiency of amounts actually credited to a Participant's account be a condition to the exercise of the option by such Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The Committee shall have discretion to determine, from time to time, whether fractional Shares may be issued under the Plan. If the Committee determines that fractional Shares will not be issued, the Committee shall determine, in its sole discretion, whether any fractional Share will be settled in cash or eliminated by rounding down to the nearest whole Share. For Participants who use their funds to purchase the maximum amount of Shares permissible at the end of a Purchase Period, any cash amount that remains in the Participant's account because it is insufficient to purchase a whole Share shall be held in the account until the exercise date of the next subsequent Purchase Period, at which time it will be included in the funds used to purchase Shares for that Purchase Period, except as set forth in Paragraph 9 or the Committee, in its discretion, elects to pay out such cash amount to Participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;Upon issuance of the Shares to the Participant at the end of a Purchase Period, the Participant may elect to have dividends payable on such Shares automatically reinvested in additional Shares or paid directly by check, as determined by the Participant through written notice to the Company's designated agent (or pursuant to such other procedures as may be determined by the Committee from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;In the event that a Participant has made payroll deductions for a Purchase Period but, for any reason, an insufficient number of Shares are available for purchase under the Plan at the end of such Purchase Period (whether due to an insufficient share reserve, regulatory restrictions, or any other reason), all payroll deductions credited to the Participant's account shall be refunded to the Participant in full, without interest, and no purchase of Shares shall be made for such Purchase Period. Such refund shall be made through the Participating Employer's payroll system or by such other means as determined by the Committee. For the avoidance of doubt, the Participant shall have no right or claim to exercise an option to purchase Shares if they are unavailable under the Plan, and the sole remedy shall be the refund of contributions as provided herein. 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Issuance and Delivery of Shares**. As promptly as practicable after the termination date of any Purchase Period, the Company will issue the Shares purchased under the Plan. The Company may determine, in its discretion, the manner of delivery of Shares purchased under the Plan, which may be by electronic account entry into new or existing accounts, delivery of share certificates or such other means as the Company, in its discretion, deems appropriate. The Company may, in its discretion, hold such Shares on behalf of the Participants during the restricted period set forth in Paragraph 8(d) below.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;**Restrictions on Resale or Transfer of Shares**. Unless otherwise specified by the Committee, Shares acquired by a Participant hereunder may not be sold or transferred until after the earlier of: (1) the one-year anniversary of the date on which the Shares were issued; or (2) the death of the Participant.

Any attempt by the Participant to sell or transfer such Shares in violation of this Paragraph 8(d) shall be considered null and void and of no force or effect. During such restricted transfer period, each certificate and account evidencing such Shares shall bear an appropriate legend or stop transfer order, respectively, referring to the terms, restrictions and conditions applicable to the transfer of such Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.&nbsp;&nbsp;&nbsp;&nbsp;Withdrawal or Termination of Participation**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;**Withdrawal**. Prior to the termination date of a Purchase Period, a Participant may withdraw all payroll deductions then credited to his or her account by giving written notice to his or her Participating Employer in accordance with the terms of this Paragraph; provided, however, that in order to be effective, such notice must be provided to the Participating Employer by the date during the Purchase Period specified by the Chief Human Resources Officer (or such other individual as may be designated by the Committee). Upon receipt of such notice of withdrawal, all payroll deductions credited to the Participant's account will be paid to him or her and no further payroll deductions will be made for such Participant during that Purchase Period. In such case, no option shall be granted to the Participant under that Purchase Period. Partial withdrawals of payroll deductions may not be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;**Termination of Employment**. In the event of a Participant's Termination of Employment for any reason prior to the termination date of any Purchase Period in which he or she is participating, no option shall be granted to such Participant under the Plan and the payroll deductions credited to his or her account shall be returned to him or her. If a Participant is on a leave of absence that exceeds three (3) months and the Participant's right to reemployment is not guaranteed by statute or contract, the Participant will be deemed to have incurred a Termination of Employment on the date that is three months and one day following the commencement of the leave.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;**Death**. If a Participant dies before the termination date of any Purchase Period in which he or she is participating, the payroll deductions credited to the Participant's account shall be paid to the Participant's estate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.&nbsp;&nbsp;&nbsp;&nbsp;Shares Reserved for Options**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to adjustment in accordance with Paragraph 12, an aggregate of 8,424,400 Shares are reserved for issuance upon the exercise of options granted under the Plan. The number of Shares reserved and available for issuance upon the exercise of options granted under the Plan shall be cumulatively increased on May 1 of each year, beginning on May 1, 2027, by the lesser of (i) 8,424,400 Shares, (ii) one percent (1%) of the number of Shares issued and outstanding on the immediately preceding April 30 or (iii) such lesser number of Shares as determined by the

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Committee. Shares subject to the unexercised portion of any lapsed or expired option may again be subject to options under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;If, as of the beginning of a Purchase Period, the total number of Shares for which options are to be granted for the Purchase Period exceeds the number of Shares then remaining available under the Plan (after deduction of all Shares for which options have been exercised or are then outstanding) and if the Committee does not elect to cancel such Purchase Period pursuant to Paragraph 4, the Committee shall make a pro rata allocation of the Shares remaining available in as nearly a uniform and equitable manner as practicable. In such event, the payroll deductions to be made pursuant to the Plan that would otherwise become effective on such commencement date shall be reduced accordingly. The Committee shall give written notice of such reduction to each Participant affected.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The Participant (or, if permitted pursuant to Paragraph 10(d) hereof, the joint tenant named thereunder) shall have no rights as a shareholder with respect to any Shares subject to the Participant's option until the date of issuance of such Shares to such Participant. No adjustment shall be made for dividends (ordinary or extraordinary, whether in cash, securities or other property), distributions or other rights for which the record date is prior to the issuance date of such Shares, except as otherwise provided pursuant to Paragraph 12.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;The Shares to be delivered to a Participant pursuant to the exercise of an option under the Plan will be registered in the name of the Participant or, if the Committee permits and the Participant so directs by written notice to the Committee prior to the termination date of that Purchase Period of the Plan, in the names of the Participant and one other person as joint tenants with rights of survivorship, to the extent permitted by law. Any Shares so registered in the names of the Participant and his or her joint tenant shall be subject to any applicable restrictions on the right to transfer such Shares during such Participant's lifetime as otherwise provided in Paragraph 8 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.&nbsp;&nbsp;&nbsp;&nbsp;Accounting and Use of Funds**.

Payroll deductions for each Participant shall be credited to an account established under the Plan. A Participant may not make any separate cash payments into such account. Such account shall be solely for bookkeeping purposes and no separate fund or trust shall be established hereunder. All funds from payroll deductions received or held by the Participating Employers under the Plan may be used, without limitation, for any corporate purpose by the Participating Employers who shall not be obligated to segregate such funds. Such accounts shall not bear interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.&nbsp;&nbsp;&nbsp;&nbsp;Adjustment Provision**.

Subject to any required action by the shareholders of the Company, in the event that (i) the issued and outstanding Shares are changed into or exchanged for a different number or kind of shares or securities of the Company or of another issuer, (ii) additional Shares or new or different securities are distributed with respect to the outstanding Shares or any other alteration to the capital structure of the Company whether through a reorganization or merger to which the

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Company is a party, or through a combination, consolidation, recapitalization, reclassification, stock split, stock dividend, reverse stock split, spin-off transaction, stock consolidation or other capital change or adjustment, effected without receipt of consideration by the Company, or (iii) the value of outstanding Shares are substantially reduced as a result of a spin off transaction or an extraordinary dividend or distribution, then equitable adjustments shall automatically be made to (a) the maximum number and class of securities issuable under the Plan, (b) the number and class of securities and the price per Share in effect under each outstanding option, and (c) the maximum number and class of securities purchasable by each Participant (or, in total by all Participants if any such limitation is in effect) under the Plan on any one purchase date, provided that in no event shall the price per Share of an option be reduced to an amount that is lower than the nominal value of a Share.

In the event of a Corporate Transaction, the Board of Directors may either: (i) amend or adjust the provisions of this Plan to provide for the acceleration of the current Purchase Period and the exercise of options thereunder; (ii) continue the Plan with respect to completion of the then current Purchase Period and the exercise of options thereunder; or (iii) terminate the Plan and refund amounts credited to Participants' bookkeeping accounts hereunder. In the event of any such continuance, Participants shall have the right to exercise their options as to an equivalent number of shares of stock of the corporation succeeding the Company by reason of such sale, merger, consolidation, liquidation or other event, as provided pursuant to Section 424(a) of the Code, or any successor provision. The grant of an option pursuant to the Plan shall not limit in any way the right or power of the Company or the Board of Directors to make adjustments, reclassifications, reorganizations or changes in the Company's capital or business structure or to merge, consolidate, dissolve, liquidate, sell or transfer all or any part of its business or assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.&nbsp;&nbsp;&nbsp;&nbsp;Non-Transferability of Options**.

Options granted under the Plan shall not be transferable and shall be exercisable only by the Participant to whom they are granted.

Neither payroll deductions credited to a Participant's account nor any rights with regard to the exercise of an option or the receipt of Shares under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way by the Participant. Any such attempted assignment, transfer, pledge or other disposition shall be null and void and without effect, except that a Participating Employer may, at its option, treat such act as an election to withdraw funds in accordance with Paragraph 9(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14.&nbsp;&nbsp;&nbsp;&nbsp;Amendment and Termination**.

The Plan may be terminated at any time by the Board of Directors provided that, except as permitted pursuant to Paragraph 12, no such termination will take effect with respect to any completed Purchase Period. Also, the Board of Directors may, from time to time, amend the Plan as it may deem proper and in the best interests of the Company or as may be necessary to comply with Section 423 of the Code or other applicable laws or regulations, provided that no such amendment shall, without prior approval of the shareholders of the Company: (a) increase the

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total number of Shares for which options may be granted under the Plan (except as provided in Paragraph 12); (b) permit payroll deductions at a rate in excess of ten percent (10%) of a Participant's compensation or such other permissible maximum contribution established by the Committee or Chief Human Resources Officer (or such other individual as may be designated by the Committee); (c) impair any outstanding option without the consent of the optionee (except as provided in Paragraph 12); (d) change the Employees or class of Employees eligible to participate under the Plan; or (e) materially increase the benefits accruing to Participants under the Plan. To the extent applicable, the Plan shall be interpreted and administered to be exempt from or to comply with Section 409A of the Code, including the regulations, notices and other guidance of general applicability issued thereunder. The Plan may be amended by the Board of Directors to the extent necessary or desirable to comply with Section 409A of the Code without the consent of any Participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15.&nbsp;&nbsp;&nbsp;&nbsp;Notices**.

All notices or other communications in connection with the Plan or any Purchase Period shall be in the form specified by the Committee and shall be deemed to have been duly given when sent to the Participant at his or her last known address, or the Participant's designated personal representative or beneficiary, or to the Participating Employer or its designated representative, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16.&nbsp;&nbsp;&nbsp;&nbsp;Alteration of Plan Terms to Comply with Foreign Law; Establishment of Non-Statutory Plans**.

Notwithstanding any other provision of the Plan, the Committee or the Chief Human Resources Officer of the Company (or such other individual as may be designated by the Committee) may, in order to comply with the laws in other countries in which the Company and its Subsidiaries operate or have Participants or to allow Participants or the Company or its Subsidiaries to obtain more favorable tax or social security treatment: (i) modify the terms and conditions of the Plan as applicable to individuals outside the United States to comply with applicable foreign laws; (ii) establish sub-plans and modify administrative procedures and other terms and procedures, to the extent such actions may be necessary or advisable (any such sub-plans and/or modifications shall be attached to this Plan as appendices); and (iii) take any action deemed advisable to comply with any necessary local governmental regulatory exemptions or approvals; provided, however, that no action may be taken hereunder that would violate any securities law, tax law or any other applicable law or cause the Plan not to comply with Section 423 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**17.&nbsp;&nbsp;&nbsp;&nbsp;Withholding**.

The Company and its Subsidiaries may deduct from the Participant's Salary or any payments or distributions hereunder, or require a Participant or beneficiary to remit promptly upon notification of the amount due (or indemnify the Company or Subsidiary for any such amounts), or otherwise satisfy by any method as determined by the Company in its sole discretion, an amount (which may, if permitted by the Committee, include Shares) to satisfy any federal, state, local or foreign taxes or any other tax or social insurance contribution liability or

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any other required amounts or other obligations required by law with respect to any option or Shares, in each case as determined by the Committee in its sole discretion and to the extent permitted by Section 423 of the Code or other applicable laws or regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18.&nbsp;&nbsp;&nbsp;&nbsp;Conditions for Issuance**.

Notwithstanding any other provision of this Plan, the Company shall not be obligated to issue or deliver any Shares until all legal and regulatory requirements associated with such issuance or delivery have been complied with to the satisfaction of the Committee, including, without limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules and regulations promulgated thereunder, and the requirements of any stock exchange upon which the Shares may then be listed.

## Exhibit 10.19

**Exhibit 10.19**

MINIMED GROUP, INC. CAPITAL ACCUMULATION PLAN

DEFERRAL PROGRAM

(effective as of March 9, 2026)

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**TABLE OF CONTENTS**

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| | | |
|:---|:---|:---|
| Article 1 DEFERRED COMPENSATION ACCOUNT | Article 1 DEFERRED COMPENSATION ACCOUNT | 1 |
| Section 1.1. | Establishment of Account | 1 |
| Article 2 DEFINITIONS, GENDER, AND NUMBER | Article 2 DEFINITIONS, GENDER, AND NUMBER | 2 |
| Section 2.1. | Definitions | 2 |
| Section 2.2. | Gender and Number | 9 |
| Article 3 PARTICIPATION | Article 3 PARTICIPATION | 9 |
| Section 3.1. | Who May Participate | 9 |
| Section 3.2. | Time and Conditions of Participation | 9 |
| Section 3.3. | Termination and Suspension of Participation | 9 |
| Section 3.4. | Missing Persons | 9 |
| Section 3.5. | Relationship to Other Plans | 9 |
| Article 4 TRANSITION OF SEPARATION PARTICIPANTS | Article 4 TRANSITION OF SEPARATION PARTICIPANTS | 9 |
| Section 4.1. | Opening Account Balances and Participation | 9 |
| Section 4.2. | Plan Elections and Designations | 10 |
| Section 4.4. | No Distribution Due to Separation; No Asset Transfer | 10 |
| Section 4.5. | Subsequent Changes to Payment Terms | 11 |
| Article 5 ENTRIES TO ACCOUNT | Article 5 ENTRIES TO ACCOUNT | 11 |
| Section 5.1. | Contributions | 11 |
| Section 5.2. | Crediting Rate | 14 |
| Section 5.3. | Vesting | 14 |
| Article 6 DISTRIBUTION OF ACCOUNTS | Article 6 DISTRIBUTION OF ACCOUNTS | 15 |
| Section 6.1. | Distribution of Elective Deferral Accounts. | 15 |
| Section 6.2. | Distribution of Company Contribution Account | 15 |
| Section 6.3. | Subsequent Election to Change Payment Terms | 15 |
| Section 6.4. | Exception to Payment Terms | 16 |
| Section 6.5. | Determination of Amount of Installment Payment | 19 |
| Article 7 SPECIAL RULES FOR DEFERRED STOCK UNIT ACCOUNTS | Article 7 SPECIAL RULES FOR DEFERRED STOCK UNIT ACCOUNTS | 19 |
| Article 8 CHANGE OF CONTROL PROVISIONS | Article 8 CHANGE OF CONTROL PROVISIONS | 20 |
| Section 8.1. | Application of Article 7 | 20 |
| Section 8.2. | Legal Fees and Expenses | 21 |
| Section 8.3. | Late Payment and Additional Payment Provisions | 21 |
| Article 9 FUNDING | Article 9 FUNDING | 21 |

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i

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| | | |
|:---|:---|:---|
| Section 9.1. | Source of Benefits | 21 |
| Section 9.2. | No Claim on Specific Assets | 21 |
| Article 10 ADMINISTRATION | Article 10 ADMINISTRATION | 22 |
| Section 10.1. | Administration | 22 |
| Section 10.2. | Powers of Committee | 22 |
| Section 10.3. | Actions of the Committee | 22 |
| Section 10.4. | Delegation | 22 |
| Section 10.5. | Reports and Records | 22 |
| Section 10.6. | Claims Procedure | 23 |
| Article 11 AMENDMENTS AND TERMINATION | Article 11 AMENDMENTS AND TERMINATION | 23 |
| Section 11.1. | Amendments | 23 |
| Section 11.2. | Termination | 24 |
| Article 12 MISCELLANEOUS | Article 12 MISCELLANEOUS | 24 |
| Section 12.1. | No Guarantee of Employment or Contract to Perform Services | 24 |
| Section 12.2. | Release | 24 |
| Section 12.3. | Notices | 24 |
| Section 12.4. | Nonalienation | 24 |
| Section 12.5. | Withholding | 24 |
| Section 12.6. | Captions | 25 |
| Section 12.7. | Applicable Law | 25 |
| Section 12.8. | Invalidity of Certain Provisions | 25 |
| Section 12.9. | No Other Agreements | 25 |
| Section 12.10. | Incapacity | 25 |
| Section 12.11. | Electronic Media | 25 |
| Section 12.12. | USERRA Compliance | 25 |

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SCHEDULE A

SCHEDULE B

ii

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**MINIMED GROUP, INC. CAPITAL ACCUMULATION PLAN**

**DEFERRAL PROGRAM**

MiniMed Group, Inc., a Delaware corporation (the "<u>Company</u>"), wishes to establish this Capital Accumulation Plan Deferral Program (the "<u>Plan</u>") for the benefit of the Eligible Employees of the Company and certain of its Affiliates, effective as of March 9, 2026 (the "<u>Effective Date</u>"). This Plan was established by the Company, effective as of the Effective Date, in connection with the initial public offering and separation from Medtronic plc ("<u>Medtronic</u>," and such transaction, the "Separation") pursuant to the Employee Matters Agreement, dated March 1, 2026, by and between Medtronic Group Holding, Inc. and Kangaroo US HoldCo 2, Inc. (the "<u>EMA</u>"). The Company adopted this Plan to, amongst other objectives, assume and maintain liabilities for Eligible Employees who participated in the Medtronic CAP immediately prior to their applicable Standup Date (each as defined below).

This Plan is a continuation of the amended and restated Medtronic Capital Accumulation Plan Deferral Program, as most recently amended and restated on January 1, 2017 (the "<u>Medtronic CAP</u>"), with respect to SplitCo Employees (as defined in the EMA) who participated in the Medtronic CAP as of immediately prior to the applicable Standup Date, and select liabilities under the Medtronic CAP attributable to such SplitCo Employees were transferred to this Plan effective as of the applicable Standup Date. It is intended that the liabilities transferred to this Plan from the Medtronic CAP remain subject to substantially the same terms and conditions applicable to such liabilities under the Medtronic CAP, except to the extent that this Plan explicitly provides otherwise. For the avoidance of doubt, the administrative provisions of this Plan, including, without limitation, <u>Article 10</u> through <u>Article 12</u>, apply to the liabilities transferred from the Medtronic CAP.

In the case of Participants who are employees, the Plan is intended to be (and shall be construed and administered as) an employee benefit pension plan under the provisions of ERISA, which is unfunded and maintained primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees, as described in Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA.

The Plan is not intended to be qualified under Section 401(a) of the Code. The Plan, as restated herein, is subject to, and intended to comply with, Section 409A of the Code.

The obligation of the Company to make payments under the Plan constitutes an unsecured (but legally enforceable) promise of the Company to make such payments and no person, including any Participant or Beneficiary, shall have any lien, prior claim or other security interest in any property of the Company as a result of the Plan.

ARTICLE 1

<u>DEFERRED COMPENSATION ACCOUNT</u>

Section 1.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Establishment of Account</u>. The Company shall establish one or more Accounts for each Participant which shall be utilized solely as a device to measure and determine the amount of deferred compensation to be paid under the Plan.

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ARTICLE 2

<u>DEFINITIONS, GENDER, AND NUMBER</u>

Section 2.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Definitions</u>. Whenever used in the Plan, the following words and phrases shall have the meanings set forth below unless the context plainly requires a different meaning, and when a defined meaning is intended, the term is capitalized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1.&nbsp;&nbsp;&nbsp;&nbsp;"Account" means a bookkeeping account established by the Company on its books and records to record and determine the benefits payable to a Participant or Beneficiary under the Plan. The Company shall establish a separate Account on behalf of a Participant for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Each Deferral Election Agreement entered into by the Participant pursuant to <u>Section 5.1.1</u>, termed an "Elective Deferral Account;"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Each Company Contribution made on the Participant's behalf pursuant to <u>Section 5.1.2</u>, termed a "Company Contribution Account;"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Each deferral of Stock Units made by the Participant under the Plan in accordance with <u>Article 7</u> herein, including Stock Units credited pursuant to <u>Section 4.3</u> (Conversion of Deferred Performance Share Units), termed a "Deferred Stock Unit Account."

The Committee may establish any number of sub-accounts on behalf of a Participant or Beneficiary as the Committee considers necessary or advisable for purposes of maintaining a proper accounting of amounts to be credited under the Plan on behalf of a Participant or Beneficiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.2.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Affiliate</u>" or "<u>Affiliates</u>" means any entity that is required to be aggregated with the Company pursuant to Code Sections 414(b), (c), (m) or (o), where the Company means MiniMed Group, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.3.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Base Salary</u>" means, with respect to a Participant for any period, the Participant's total salary and wages from all Affiliates for such period, including any amount that would be included in the definition of Base Salary but for the individual's election to defer some of his or her salary pursuant to the Plan or any other deferred compensation plan established by an Affiliate; but excluding disability pay and any other remuneration paid by Affiliates, such as overtime, incentive compensation, stock options, distributions of compensation previously deferred, restricted stock, allowances for expenses (including moving, travel expenses, and automobile allowances), and fringe benefits whether payable in cash or in a form other than cash. In the case of an individual who is a participant in a plan sponsored by an Affiliate that is described in Section 401(k), 125 or 132(f) of the Code, the term Base Salary shall include any amount that would be included in the definition of Base Salary but for the individual's election to reduce his or her salary and have the amount of the reduction contributed to or used to purchase benefits under such plan.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.4.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Beneficiary</u>" or "<u>Beneficiaries</u>" means the persons or trusts designated by a Participant in writing pursuant to <u>Section 6.4.1(b)</u> of the Plan as being entitled to receive any benefit payable under the Plan by reason of the death of a Participant, or, in the absence of such designation, the persons specified in <u>Section 6.4.1(c)</u> of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.5.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Board</u>" means the Board of Directors of the Company as constituted at the relevant time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.6.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Change of Control</u>" means any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Act) (a "<u>Person</u>") becomes the Beneficial Owner (within the meaning of Rule 13d-3 promulgated under the Act) of 30% or more of either (i) the then-outstanding shares of the Company Stock (the "<u>Outstanding Company Shares</u>") or (ii) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the "<u>Outstanding Company Voting Securities</u>"); <u>provided</u> that, for purposes of this subsection (a), the following acquisitions shall not constitute a Change of Control: (1) an acquisition directly from the Company; (2) an acquisition by the Company or a Subsidiary; (3) an acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any Subsidiary; (4) any acquisition by an underwriter temporarily holding securities pursuant to an offering of such securities or (5) an acquisition pursuant to a transaction that complies with <u>Sections 2.1.6(b)</u>, <u>(c)</u> and <u>(d)</u> below;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Individuals who, on the Effective Date, constitute the Board (the "<u>Incumbent Directors</u>") cease for any reason to constitute at least a majority of the Board; <u>provided</u> that any person becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company's shareholders, was approved by a vote of at least a majority of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director, without written objection to such nomination) shall be considered an Incumbent Director; but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of any Person other than the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The consummation of a reorganization, merger, statutory share exchange or consolidation (or similar corporate transaction) involving the Company or a Subsidiary, the sale or other disposition of all or substantially all of the Company's assets, or the acquisition of assets or stock of another entity (a "<u>Business Combination</u>"), unless immediately following such Business Combination: (i) substantially all of the individuals and entities who were Beneficial Owners, respectively, of the Outstanding Company Shares and the

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Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then-outstanding Shares and the total voting power of (A) the corporation resulting from such Business Combination (the "<u>Surviving Corporation</u>") or (B) if applicable, the ultimate parent corporation that directly or indirectly has beneficial ownership of 80% or more of the voting securities eligible to elect directors of the Surviving Corporation (the "<u>Parent Corporation</u>"), in substantially the same proportion as their ownership, immediately prior to the Business Combination, of the Outstanding Company Shares and the Outstanding Company Voting Securities, as the case may be, (ii) no Person (other than any employee benefit plan (or related trust) sponsored or maintained by the Surviving Corporation or the Parent Corporation) is or becomes the Beneficial Owner, directly or indirectly, of 30% or more of the outstanding Shares and the total voting power of the outstanding securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) and (iii) at least a majority of the members of the Board of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) following the consummation of the Business Combination were Incumbent Directors at the time of the Board's approval of the initial agreement providing for such Business Combination; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company.

Notwithstanding anything to the contrary contained herein, none of the Initial Public Offering, the Divestment or the Other Disposition each as defined in the Separation Agreement dated March 1, 2026, by and between Medtronic Group Holding, Inc. and Kangaroo US HoldCo 2, Inc.) shall constitute a Change of Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.7.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Code</u>" means the Internal Revenue Code of 1986, as amended from time to time and any successor statute. References to a Code section shall be deemed to be to that section or to any successor to that section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.8.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Committee</u>" means the Compensation and Talent Committee or individual appointed by the Compensation and Talent Committee of the Board (or any person or entity designated by the Committee) to administer the Plan pursuant to Section 10.4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.9.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Common Stock</u>" means the Company's common stock $0.01 par value per share (as such par value may be adjusted from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.10.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Company</u>" means MiniMed Group, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.11.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Compensation</u>" means, with respect to a Participant for any period, the sum of such Participant's Base Salary and Incentive Compensation for such period; provided, however, that no such amount shall be treated as Compensation if it is paid or payable in respect of services to any "non-qualified entity" within the meaning of Section 457A of the Code.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.12.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Deferral Election Agreement</u>" means the agreement described in Section 5.1.1 in which the Participant designates the amount of his or her Compensation, if any, that he or she wishes to contribute to the Plan and acknowledges and agrees to the terms of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.13.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Director</u>" means a member of the Board who is not an employee of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.14.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Domestic Relations Order</u>" has the meaning set forth in Section 414(p)(1)(B) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.15.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Elective Deferral</u>" means a contribution to the Plan made by a Participant pursuant to a Deferral Election Agreement that the Participant enters into with the Company. Elective Deferrals shall be made according to the terms of the Plan set forth in <u>Section 5.1.1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.16.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Eligible Employee</u>" means any employee who is a citizen or resident of the United States or Puerto Rico and who is: (a) an Officer or a Vice President of the Company or an Affiliate; (b) an employee of a Participating Affiliate whose Compensation for the Participating Affiliate's fiscal year ending immediately prior to the date on which he or she first enters into a Deferral Election Agreement equals or exceeds the dollar amount set forth on <u>Schedule A</u>, hereto, which schedule may be revised from time to time by the Company's Chief Executive Officer in his or her discretion; or (c) any individual designated as eligible to participate in the Plan by the Company's Chief Executive Officer. Notwithstanding the preceding sentence, in order for an employee to be an "Eligible Employee," he or she must be considered to be a member of a select group of management or highly compensated employees, within the meaning of Sections 201(2), 301(3), and 401(a)(1) of ERISA and rules established by the Committee. The Company may make such projections or estimates as it deems desirable in applying the eligibility requirements, and its determination shall be conclusive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.17.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Enrollment Period</u>" means the period designated by the Company during which a Deferral Election Agreement may be entered into with respect to an Eligible Employee's Compensation as described in <u>Section 5.1.1</u>. Generally, the Enrollment Period must end no later than the end of the calendar year before the calendar year in which the services giving rise to the Compensation to be deferred are performed. As described in <u>Section 5.1.1</u>, an exception may be made to this requirement for individuals who first become eligible to participate in the Plan, and may be made in the case of Elective Deferrals from certain types of Incentive Compensation considered to be Performance-Based Compensation, as determined by the Committee from time to time. In addition, other exceptions may be made by the Company from time to time consistent with the requirements of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.18.&nbsp;&nbsp;&nbsp;&nbsp;"<u>ERISA</u>" means the Employee Retirement Income Security Act of 1974, as amended from time to time and any successor statute. References to an ERISA section shall be deemed to be to that section or to any successor to that section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.19.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Incentive Compensation</u>" means, with respect to a Participant for any period, the total remuneration of the Participant from all Affiliates for the period under the

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various incentive compensation programs maintained by Affiliates, including, but not limited to, commissions, annual incentive awards, the cash portion of the 2026 MiniMed Group, Inc. Long Term Incentive Plan (or any successor thereto) and any amount that would be included in the definition of Incentive Compensation but for the individual's election to defer some or all of his or her Incentive Compensation pursuant to the Plan or any other deferred compensation plan established by an Affiliate, but excluding any other type of remuneration paid by Affiliates, such as Base Salary, overtime, stock options, distributions of compensation previously deferred, restricted stock, allowances for expenses (including moving expenses, travel expenses, and automobile allowances), and fringe benefits whether payable in cash or in a form other than cash. In the case of an individual who is a participant in a plan sponsored by an Affiliate that is described in Section 401(k), 125 or 132(f) of the Code, the term Incentive Compensation shall include any amount that would be included in the definition of Incentive Compensation but for the individual's election to reduce his or her Incentive Compensation and have the amount of the reduction contributed to or used to purchase benefits under such plan. The Committee shall designate from time to time those items of a Participant's Compensation deemed to be Incentive Compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.20.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Medtronic CAP Balance</u>" means a Participant's account balance attributable to those liabilities of the Medtronic CAP and transferred to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.21.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Officer or Vice President</u>" means an employee who is either elected by the Board or appointed by the Company's Chief Executive Officer to such position.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.22.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Participant</u>" means an individual who is eligible to participate in the Plan and who has satisfied the requirements set forth in <u>Section 3.2</u>. Notwithstanding the foregoing, each SplitCo Employee who participates in and/or has a balance under the Medtronic CAP shall be a Participant with respect to his or her transferred Medtronic CAP Balance as set forth in <u>Article 4</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.23.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Participating Affiliate</u>" or "<u>Participating Affiliates</u>" means the Company and such Affiliates as may be designated by the Chief Executive Officer of the Company, or his designee, from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.24.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Performance-Based Compensation</u>" means, with respect to a Participant for a period, the Incentive Compensation of the Participant for such period where the amount of, or entitlement to, the Incentive Compensation is contingent on the satisfaction of pre-established organizational or individual performance criteria relating to a performance period of at least 12 consecutive months. Organizational or individual performance criteria are considered pre-established if established in writing by not later than 90 days after the commencement period of service to which the criteria relate, <u>provided</u> that the outcome is substantially uncertain at the time the criteria are established. Performance-Based Compensation may include payment based on performance criteria that are not approved by the Board or the Committee or by the stockholders of the Company. Performance-Based Compensation does not include any amount or portion of any amount that will be paid either regardless of performance, or based upon a level of performance that is substantially certain to be met at the time the criteria are established.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.25.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Plan</u>" means the "MiniMed Group, Inc. Capital Accumulation Plan Deferral Program," as set forth herein and as amended or restated from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.26.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Plan Year</u>" means the 12-month period commencing each January 1 and ending the following December 31.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.27.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Prior Eligible Employee</u>" means (i) any Eligible Employee who incurred a Separation from Service from the Company and who participated in the Plan or any other nonqualified deferred compensation plan maintained by the Company during the two years preceding such Eligible Employee's re-employment date, and (ii) any Eligible Employee whose Elective Deferral election was cancelled pursuant to the reasons set forth in <u>Section 5.1.1</u> of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.28.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Retirement</u>" means, with respect to a Participant who is an Eligible Employee, such Participant's Separation from Service on or after the date on which he or she attains age 55.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.29.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Separation from Service</u>" or "<u>Separate from Service</u>" means a Participant's separation from service with all Affiliates, within the meaning of Section 409A(a)(2)(A)(i) of the Code and the regulations under such section. Solely for this purpose, a Participant who is an Eligible Employee will be considered to have a Separation from Service when the Participant dies, retires, or otherwise has a termination of employment with all Affiliates. The employment relationship is treated as continuing intact while the Participant is on military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six months, or if longer, so long as the individual retains a right to reemployment with an Affiliate under an applicable statute or by contract. For purposes hereof, a leave of absence constitutes a bona fide leave of absence only if there is a reasonable expectation that the Participant will return to perform services for an Affiliate. If the period of leave exceeds six months and the individual does not retain a right to reemployment under an applicable statute or by contract, the employment relationship is deemed to terminate on the first date immediately following such six-month period. Notwithstanding the foregoing, where a leave of absence is due to any medically determinable physical or mental impairment that can be expected to last for a continuous period of not less than six months, where such impairment causes the employee to be unable to perform the duties of his or her position of employment or any substantially similar position of employment, the Company may substitute a 29-month period of absence for such six month.

Whether a termination of employment has occurred is determined based on whether the facts and circumstances indicate that the Affiliate and the Participant reasonably anticipated that no further services will be performed after a certain date or that the level of bona fide services the Participant will perform after such date (whether as an employee or independent contractor) will permanently decrease to no more than 40 percent of the average level of bona fide services performed (whether as an employee or independent contractor) over the immediately preceding 36-month period (or the full period of services if the Participant has been providing services for less than 36 months).

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Notwithstanding anything in <u>Section 2.1.2</u> to the contrary, in determining whether a Participant has had a Separation from Service with an Affiliate, an entity's status as an "Affiliate" shall be determined substituting "50 percent" for "80 percent" each place it appears in Section 1563(a)(1), (2), and (3) and in Treasury Regulation Section 1.414(c)-2.

The Company shall have discretion to determine whether a Participant has experienced a Separation from Service in connection with an asset sale transaction entered into by the Company or an Affiliate, <u>provided</u> that such determination conforms to the requirements of Section 409A and the regulations and other guidance issued under such section, in which case the Company's determination shall be binding on the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.30.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Section 409A</u>" means section 409A of the Internal Revenue Code, as amended from time to time and any successor statute.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.31.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Specified Employee</u>" means an employee of an Affiliate who is subject to the six-month delay rule described in Section 409A(2)(B)(i) of the Code. The Company shall establish a written policy for identifying Specified Employees in a manner consistent with Section 409A, which policy may be amended by the Company from time to time as permitted by Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.32.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Standup Date</u>" has the meaning set forth in the EMA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.33.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Stock Compensation</u>" means the stock-settled incentive compensation payable pursuant to the 2026 MiniMed Group, Inc. Long Term Incentive Plan (or any successor thereto) and any amount that would be included in the definition of Stock Compensation but for the individual's election to defer some or all of his or her Stock Compensation pursuant to the Plan or any other deferred compensation plan established by an Affiliate, including, without limitation, awards of restricted stock units and performance stock units.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.34.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Stock Deferral Election Agreement</u>" means the agreement described in <u>Section 7.1</u> in which the Participant designates the amount of his or her Stock Compensation, if any, that he or she wishes to contribute to the Plan and acknowledges and agrees to the terms of the Plan. Except as otherwise provided in <u>Article 7</u>, a Stock Deferral Election Agreement shall be treated as a Deferral Election Agreement for all Plan purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.35.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Stock Elective Deferral</u>" means a contribution to the Plan made by a Participant pursuant to a Stock Deferral Election Agreement that the Participant enters into with the Company. Stock Elective Deferrals shall be made according to the terms of the Plan set forth in <u>Article 7</u>. Except as otherwise provided in <u>Article 7</u>, a Stock Elective Deferral shall be treated as an Elective Deferral for all Plan purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.36.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Stock Unit</u>" means a notational unit representing the right to receive one share of Common Stock.

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Section 2.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Gender and Number</u>. Except as otherwise indicated by context, masculine terminology used herein also includes the feminine and neuter, and terms used in the singular may also include the plural.

ARTICLE 3

<u>PARTICIPATION</u>

Section 3.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Who May Participate</u>. Except as otherwise set forth in <u>Section 4.1</u> below, participation in the Plan is limited to Eligible Employees. Unless otherwise explicitly permitted by the Committee or the Board, Directors shall not be eligible to participate in the Plan.

Section 3.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Time and Conditions of Participation</u>. Other than with respect to SplitCo Employees, an Eligible Employee shall become a Participant only upon his or her compliance with the following terms and such other terms and conditions as the Committee may from time to time establish for the implementation of the Plan, including, but not limited to, any condition the Committee may deem necessary or appropriate for the Company to meet its obligations under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.1.&nbsp;&nbsp;&nbsp;&nbsp;A newly hired Eligible Employee who is not a Prior Eligible Employee will be eligible to become a Participant on the 30<sup>th</sup> day after his or her date of hire.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2.2.&nbsp;&nbsp;&nbsp;&nbsp;A Prior Eligible Employee will be eligible to become a Participant as of the first day of the calendar year that occurs immediately after the Prior Eligible Employee's re- employment date or, if applicable, the Elective Deferral cancellation date.

Section 3.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination and Suspension of Participation</u>. Once an individual has become a Participant, participation shall continue until payment in full of all benefits to which the Participant or Beneficiary is entitled under the Plan.

Section 3.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Missing Persons</u>. Each Participant and Beneficiary entitled to receive benefits under the Plan shall be obligated to keep the Company informed of his or her current address until all Plan benefits that are due to be paid to the Participant or Beneficiary have been paid to him or her. If, after having made reasonable efforts to do so, the Company is unable to locate the Participant or Beneficiary for purposes of making a distribution, the Participant's or Beneficiary's Plan benefit will be forfeited. In no event will a Participant's or Beneficiary's benefit be paid to him or her later than the date otherwise required by the Plan.

Section 3.5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Relationship to Other Plans</u>. Participation in the Plan shall not preclude participation of the Participant in any other fringe benefit program or plan sponsored by an Affiliate for which such Participant would otherwise be eligible.

ARTICLE 4

<u>TRANSITION OF SEPARATION PARTICIPANTS</u>

Section 4.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Opening Account Balances and Participation</u>. Unless otherwise expressly set forth herein, the opening account balance under this Plan as of the actual date of transfer to

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the Company of any SplitCo Employee who had a Medtronic CAP Balance, the liability for which is transferred to the Company pursuant to the EMA, shall be the account balance such Participant had in the Medtronic CAP immediately before the Separation. The amounts credited to such Accounts shall be maintained and administered in accordance with this Plan. For purposes of this <u>Section 4.1</u> only, "<u>Participant</u>" shall include SplitCo Employees with who had a Medtronic CAP Balance, the liability for which is transferred to the Company under the EMA. SplitCo Employees must separately meet the participation criteria set forth in <u>Section 3.1</u> of the Plan in order to be eligible to elect to defer additional compensation on or after the Separation Date.

Section 4.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Plan Elections and Designations</u>. Notwithstanding anything herein to the contrary and in accordance with the requirements of the EMA, all beneficiary designations, deferral elections, investment elections, payment form elections, and qualified domestic relations orders creating rights for alternate payees in effect under the Medtronic CAP as of February 28, 2026 shall be recognized, maintained and deemed to be effective with respect to the Plan until superseded by a new election made in compliance with Section 409A and the terms of this Plan. Any deferral election with respect to base annual compensation for 2026 or annual bonus or annual equity awards for the fiscal year ending in 2026 (a "<u>Carryover Deferral Election</u>") shall carry over to this Plan for the remainder of 2026 or the annual bonus or annual equity award year, respectively. However, SplitCo Employees must make new deferral elections under <u>Section 5.1.1</u> of this Plan, to the extent permitted under the Plan, with respect to any additional amounts to be deferred under this Plan or after the Separation Date that are not covered by Carryover Deferral Election.

Section 4.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Conversion of Deferred Performance Share Units from Medtronic CAP</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Conversion of Vested Deferred Awards</u>. Effective as of the Separation, each Medtronic DSU Award (as defined in the EMA) (including any Medtronic Deferred PSU Award (as defined in the EMA) for which the applicable performance period ended prior to the Medtronic 2026 fiscal year) held by a Participant under the Medtronic CAP was converted into a SplitCo DSU Award (as defined in the EMA) relating to Common Stock and credited to the Participant's Deferred Stock Unit Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Distribution Timing</u>. Stock Units credited to a Participant's Deferred Stock Unit Account pursuant to this <u>Section 4.3</u> shall remain subject to the Participant's existing elections under the Medtronic CAP.

Section 4.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Distribution Due to Separation; No Asset Transfer</u>. For avoidance of doubt, no Participant shall be treated as incurring a separation from service, termination of employment, retirement, or similar event for purposes of determining the right to a distribution (for amounts subject Section 409A or otherwise), vesting, benefits, or any other purpose under the Plan solely as a result of the Initial Public Offering, the Separation, the Divestment, the Other Disposition and related transactions contemplated by the EMA. Distributions shall occur only upon a Participant's Separation from Service from the Company and its Affiliates (or as otherwise provided under the terms of this Plan and Section 409A). No assets were transferred from Medtronic to the Company in connection with the transfer of liabilities under this Plan.

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Section 4.5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Subsequent Changes to Payment Terms</u>. A Participant may modify a deferral election applicable to the Participant's Medtronic CAP Balance assumed by this Plan in accordance with the EMA in accordance with <u>Section 6.3</u> of the Plan, *mutatis mutandis*.

Section 4.6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Right to Benefits</u>. With respect to any recordkeeping account established to determine a benefit provided or due under the Medtronic CAP at any time, no benefit will be due under the Plan except with respect to the portion of such recordkeeping account reflecting the liability transferred from the Medtronic CAP to the Plan on the applicable Standup Date. Additionally, on and after the applicable Standup Date, Medtronic and the Medtronic CAP, and any successors thereto shall have no further obligation or liability to any Participant with respect to any benefit, amount, or right due under the Medtronic CAP transferred to the Plan.

Section 4.7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Distributions</u>. The distribution elections made by SplitCo Employees under the Medtronic CAP with respect to their Medtronic CAP Balances shall remain in effect with respect to those amounts, consistent with <u>Article 6</u> through <u>Article 8</u> of this Plan.

Section 4.8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Exception to Payment Terms</u>. Notwithstanding anything in this <u>Article 4</u> or a Participant's Carryover Deferral Election to the contrary, <u>Section 6.4</u> of the Plan shall apply to the payment of a Participant's Medtronic CAP Balances assumed by this Plan, *mutatis mutandis*.

Section 4.9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Beneficiary Designations</u>. The Beneficiary designations made by SplitCo Employees under the Medtronic CAP with respect to their Medtronic CAP Balances shall remain in effect with respect to those amounts. Notwithstanding the foregoing, SplitCo Employees may change Beneficiary designations in accordance with <u>Section 6.4.1(b)</u>.

ARTICLE 5

<u>ENTRIES TO ACCOUNT</u>

Section 5.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Contributions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.1.&nbsp;&nbsp;&nbsp;&nbsp;Deferrals. A Participant may elect to reduce his or her Compensation for a Plan Year and have the amount of the reduction contributed to the Plan on the Participant's behalf as an Elective Deferral. A Participant wishing to make an Elective Deferral under the Plan for a Plan Year shall enter into a Deferral Election Agreement during the Enrollment Period immediately preceding the Plan Year, except as described below. A separate Deferral Election Agreement must be entered into for each Plan Year that a Participant wishes to make Elective Deferrals under the Plan. The Committee may require that a Participant enter into a separate Deferral Election Agreement for Base Compensation and Incentive Compensation that he or she wishes to defer and, if the Participant is eligible to receive more than one type of Incentive Compensation, that he or she enter into a separate Deferral Election Agreement for each type of Incentive Compensation he or she is eligible to receive. In order to be effective, the Deferral Election Agreement must be completed and submitted to the Company at the time and in the manner specified by the Committee, which may be no later than the last day of the Enrollment Period. The Company shall not accept Deferral Election Agreements entered into after the end of the Enrollment Period.

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When an individual (other than a Prior Eligible Employee) first becomes eligible to participate in the Plan (due to hire, but not promotion), the Committee may, in its discretion, allow the individual to enter into a Deferral Election Agreement within 30 days after he or she first becomes eligible to participate in the Plan. Such Deferral Election Agreement may be filed by such method as may be established by the Committee, including electronically. In order to be effective, the Deferral Election Agreement must be completed and submitted on or before the 30- day period has elapsed. Deferral Election Agreements entered into after the 30-day period has elapsed will not be accepted. The Deferral Election Agreement may only apply to Compensation earned after the date on which the Deferral Election is filed, consistent with Section 409A of the Code.

If the eligible individual fails to complete a Deferral Election Agreement by such time, he or she may enter into a Deferral Election Agreement during any succeeding Enrollment Period in accordance with the rules described in the preceding paragraph. For Compensation that is earned based upon a specified performance period (for example an annual bonus) where a Deferral Election Agreement is entered into in the first year of eligibility but after the beginning of the performance period, the Deferral Election Agreement must apply to Compensation paid for services performed after the Deferral Election Agreement is entered into. For this purpose, a Deferral Election Agreement will be deemed to apply to Compensation paid for services performed after the Deferral Election Agreement is entered into if the Deferral Election Agreement applies to no more than an amount equal to the total amount of the Compensation for the performance period multiplied by the ratio of the number of days remaining in the performance period after the Deferral Election Agreement is entered into over the total number of days in the performance period. The term "Plan," for purposes of this paragraph, means the Plan and any other plan required to be aggregated with the Plan pursuant to Section 409A and the regulations and other guidance under such section.

Except as otherwise specified in this <u>Section 5.1.1</u>, a Deferral Election Agreement will be effective to defer Compensation earned after the Deferral Election Agreement is entered into, and not before.

Deferral Election Agreements for Base Salary and Incentive Compensation other than Performance-Based Compensation must be completed and submitted to the Company at the time described above that is ordinarily applicable to Deferral Election Agreements (subject to the exception for individuals who are newly eligible to participate). Deferral Election Agreements for Incentive Compensation that is Performance-Based Compensation must be completed and submitted to the Company no later than six months before the end of the performance period for the Incentive Compensation; <u>provided</u>, <u>however</u>, that in order for such an election to be valid the Participant must perform services continuously from the beginning of the performance period (or the date the performance criteria are established, if later) through the date the Deferral Election Agreement is entered into, and <u>provided</u>, <u>further</u>, that in no event may a Deferral Election Agreement be effective to defer Incentive Compensation after the Incentive Compensation has become reasonably ascertainable. For purposes hereof, if Incentive Compensation is a specific or calculable amount, the Incentive Compensation is readily ascertainable if and when the amount is first substantially certain to be paid. If the Incentive Compensation is not a specific or

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calculable amount (for example, the amount may vary based upon the level of performance) the Incentive Compensation, or any portion thereof, is readily ascertainable when the amount is both calculable and substantially certain to be paid. Accordingly, in general, any minimum amount that is both calculable and substantially certain to be paid will be treated as readily ascertainable. The Committee shall determine from time to time whether an item of Incentive Compensation is considered Performance-Based Compensation for these purposes.

Each Deferral Election Agreement shall specify the amount of Compensation the Participant wishes to have deducted from his or her Compensation and contributed to the Plan by type and percentage or dollar amount, subject to the following rules:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Base Compensation*. Each Participant may elect to make an Elective Deferral under the Plan for each Plan Year in an amount equal to any whole percentage or dollar amount not in excess of 50% of his or her Base Compensation (determined on a pay period basis).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Incentive Compensation*. Each Participant may elect to make an Elective Deferral under the Plan for each Plan Year in an amount equal to any whole percentage or dollar amount not in excess of 80% of his or her Incentive Compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Minimum Elective Deferral*. The Committee may from time to time establish a minimum amount that may be deferred by a Participant pursuant to this <u>Section 5.1.1</u> for any Plan Year. That minimum may be zero for certain categories of Eligible Employees with respect to certain types of Compensation.

The Company shall establish an Elective Deferral Account for each Elective Deferral Agreement entered into by a Participant, and if more than one type of Compensation is deferred under a Deferral Election Agreement, for each separate type of Compensation deferred. Elective Deferrals made under the Elective Deferral Agreement shall be credited to the Account as soon as administratively reasonable after the Compensation would have been paid to the Participant had the Participant not elected to defer it under the Plan.

In general, a Deferral Election Agreement shall become irrevocable as of the last day of the Enrollment Period applicable to it. However, if a Participant incurs an "unforeseeable emergency," as defined in <u>Section 6.4.5(g)</u> after the Deferral Election Agreement otherwise becomes irrevocable, the Deferral Election Agreement shall be cancelled as of the date on which the Participant is determined to have incurred the unforeseeable emergency and no further Elective Deferrals will be made under it. In addition, if a Participant becomes "disabled" (as defined below), the Company may, in its discretion, cancel the Participant's Deferral Election Agreement then in effect, <u>provided</u> that such cancellation is made no later than end of the Plan Year, or if later, the 15<sup>th</sup> day of the third month following the date on which the Participant becomes disabled, and <u>provided</u>, <u>further</u> that the Company does not allow the Participant a direct or indirect election regarding the cancellation. For purposes of the preceding sentence, "disability" means any medically determinable physical or mental impairment resulting in the Participant's inability to perform the duties of his or her position or any substantially similar

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position, where such impairment can be expected to result in death or can be expected to last for a continuous period of not less than six months.

At the time a Participant enters into a Deferral Election Agreement, the Participant shall, as part of such agreement, elect the time, and if applicable the form, of distribution of the Elective Deferral Account or Accounts corresponding to the Deferral Election Agreement in accordance with <u>Section 6.1</u>.

Notwithstanding any other provision of the Plan, no amount may be deferred under the Plan if such deferral would violate the provisions of Section 457A of the Code by virtue of being paid or payable in respect of services to any "non-qualified entity" within the meaning of Section 457A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Company Contributions</u>. The Company may make a contribution to an Account under the Plan on behalf of one or more Eligible Employees in such amount and at such time and based upon such criteria as the Company, in its sole and absolute discretion, deems appropriate or desirable. The Company shall establish a separate Company Contribution Account for each Participant for each contribution made by the Company on the Participant's behalf pursuant to this <u>Section 5.1.2</u>. The Company Contribution shall be credited to this Account at the time and in the manner specified by the Committee. At the time a Company Contributions Account is established, the Company shall specify the time and manner in which it will be distributed to the Participant.

Section 5.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Crediting Rate</u>. The Committee shall designate the manner in which a Participant's Elective Deferral Accounts and Company Contribution Accounts are to be credited with gains and losses as described on <u>Schedule B</u> hereto, which Schedule may be amended from time to time in the Committee's discretion. If the Committee designates specific investment funds to serve as an index for crediting gains and losses to such Accounts: (a) the Participant shall be entitled to designate which such fund or funds shall be used to measure gains and losses on such Accounts and to change such designation in accordance with rules established by the Committee (in which case, such change shall be effective prospectively); (b) the Accounts will be credited with gains and losses as if invested in such fund or funds in accordance with the Participant's designation and the rules established by the Committee; and (c) the Committee may, in its sole discretion, eliminate any investment fund or funds previously designated by it, substitute a new investment fund or funds therefore, or add an investment fund or funds, at any time. If the Committee makes any such investment funds available for this purpose, the Company shall have no obligation to actually invest any amounts in any such investment funds.

Section 5.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting</u>. Each Elective Deferral Account will be fully vested immediately. Each Company Contribution Account will vest in the manner specified by the Company at the time the Company Contribution Account is established.

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ARTICLE 6

<u>DISTRIBUTION OF ACCOUNTS</u>

Section 6.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Distribution of Elective Deferral Accounts</u>. A Participant shall be entitled to elect whether distribution of the portion of the Participant's Elective Deferral Account, and income, gains, and losses on such contributions shall begin at: (a) a specified future date, which must be at least five years after the first day of the Plan Year (and in the case of a deferral of Performance-Based Compensation, the first day of the last year of a performance cycle) to which the Deferral Election Agreement applies; or (b) the Participant's Retirement. If the Participant elects to have distribution commence at a specified future date, the distribution commencement date must be specified in his or her Deferral Election Agreement in which case distribution will commence to the Participant no later than the end of the Plan Year, or if later, the 15th day of the third calendar month, following the specified date. If the Participant elects to have distributions commence at his or her Retirement, distribution will commence to the Participant as soon as administratively feasible on or after the first day of the seventh month following his or her Retirement. If the Participant does not specify the distribution commencement date of an Elective Deferral Account, the Participant will be deemed to have elected to have distribution of the Elective Deferral Account commence following his or her Retirement. If a Participant elects to have distribution of an Elective Deferral Account commence at a specified date, the Elective Deferral Account will be distributed to the Participant in a lump sum. If the Participant elects to have distribution of an Elective Deferral Account commence at Retirement, the Participant shall elect distributions in the form of (a) lump sum; or (b) monthly installments over five, ten or 15 years.

Section 6.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Distribution of Company Contribution Account</u>. Distribution to a Participant of a Company Contribution Account shall be made at the time and in the manner specified by the Company at the time the Participant first has a legally binding right to the amounts credited to the Account, subject to <u>Section 6.3</u> and <u>Section 6.4</u>.

Section 6.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Subsequent Election to Change Payment Terms</u>. On or after the Effective Date, a Participant may modify a Deferral Election Agreement, and the distribution terms specified by the Company with respect to a Company Contribution Account, to postpone the distribution commencement date of the Account to a later date and, in the case of an Account whose distribution is scheduled to commence at Retirement, change the form of distribution to another form permitted under Section 6.1 up to two times per Account source as determined by the Committee. In order to be effective, the requested modification must: (a) be in writing and be submitted to the Company at the time and in the manner specified by the Committee; (b) not take effect for at least 12 months from the date on which it is submitted to the Company; (c) in the case of an Account whose distribution is scheduled to commence at a specified date pursuant to <u>Section 6.1</u>, be submitted to the Company at least 12 months prior to the specified date; and (d) specify a new distribution commencement date that is no earlier than five years after the date distribution would otherwise have commenced. For purposes hereof, if the "specified date" referred to in <u>Section 6.1</u> is a Plan Year rather than a specified date within a Plan Year, the "specified date" shall be deemed to be the first day of the Plan Year.

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Section 6.4.&nbsp;&nbsp;&nbsp;&nbsp;Exception to Payment Terms. Notwithstanding anything in this <u>Article 6</u> or a Participant's Deferral Election Agreement to the contrary, the following terms, if applicable, shall apply to the payment of a Participant's Elective Deferral Accounts and Company Contribution Accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Death</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<u>Time and Form of Payment</u>. In the event a Participant dies while there are amounts remaining in an Account, the Account (or the remaining balance of the Account if distributions have commenced) shall be paid to the Participant's Beneficiary in a lump sum within 90 days after the Participant's death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<u>Designation by Participant</u>. Each Participant has the right to designate primary and contingent Beneficiaries for death benefits payable under the Plan. Such Beneficiaries may be individuals or trusts for the benefit of individuals. A Beneficiary designation by a Participant shall be in writing on a form acceptable to the Committee and shall only be effective upon delivery to the Company. A Beneficiary designation may be revoked by a Participant at any time by delivering to the Company either written notice of revocation or a new Beneficiary designation form. The Beneficiary designation form last delivered to the Company prior to the death of a Participant shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<u>Failure to Designate Beneficiary</u>. In the event there is no Beneficiary designation on file with the Company at the Participant's death, or if all Beneficiaries designated by a Participant have predeceased the Participant, any benefits payable pursuant to this <u>Section</u> <u>6.4.1</u> will be paid to the Participant's surviving spouse, if living; or if the Participant does not leave a surviving spouse, to the Participant's children, if any, in equal shares, except that if any of the children predecease the Participant but leave issue surviving the Participant, such issue shall take by right of representation, the share their parent would have taken if living; for purposes of this provision, "children" shall not include stepchildren unless such stepchildren have been legally adopted by the Participant; or, if there are no such surviving issue, to the Participant's estate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Separation from Service</u>. If a Participant has a Separation from Service other than due to Retirement or death, the Participant shall receive his or her Elective Deferral Account in the form of monthly installments over a five-year period, regardless of any payment election the Participant may have made under the Plan. Payments pursuant to this <u>Section 6.4.2</u> shall commence as soon as administratively feasible on or after the first day of the seventh month following the Participant's Separation from Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Small Account Balances</u>. If at any time the present value of any benefit under the Plan that would be considered a "single plan" under Treasury Regulation Section 1.409A-1(c)(2) together with the present value of any benefit required to be aggregated with such benefit under Treasury Regulation Section 1.409A-1(c)(2), is less than the dollar limit set forth in Section 402(g) of the Code, the Company may, in its discretion, distribute such benefit (or benefits) to the Participant in the form of a lump sum, <u>provided</u> that the payment results in the liquidation of the entirety of the Participant's interest under the "single plan," including all

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benefits required to be aggregated as part of the "single plan" under Treasury Regulation Section 1.409A-1(c)(2).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Delay in Distributions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in <u>Section 6.4.5</u>, if a Participant is a Specified Employee as of the date of his or her Separation from Service, any distributions that under the terms of the Plan are to commence to the Participant on his or her Separation from Service ("separation distributions") shall commence within 90 days after the Participant's "delayed distribution date" (as defined below). In this case, the Company shall, in its discretion, determine whether the first separation distribution to the Participant shall include the aggregate amount of any separation distributions that, but for this paragraph (a), would have been paid to the Participant from the date of his or her Separation from Service until the delayed distribution date, or whether each separation distribution shall be delayed for six months. For purposes of this paragraph (a), a Specified Employee's "delayed distribution date" is the first day of the seventh month following the Participant's Separation from Service, or if earlier, the date of the Participant's death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;A payment under the Plan may be delayed by the Company under any of the following circumstances so long as all payments to similarly situated Participants are treated on a reasonably consistent basis:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The Company reasonably anticipates that if such payment were made as scheduled, the Company's deduction with respect to such payment would not be permitted under Section 162(m) of the Code, <u>provided</u> that the payment is made either during the first Plan Year in which the Company reasonably anticipates, or should reasonably anticipate, that if the payment is made during such year, the deduction of such payment will not be barred by application of Section 162(m) or during the period beginning with the date of the Participant's Separation from Service and ending on the later of the last day of the Company's fiscal year in which the Participant has a Separation from Service or the 15th day of the third month following the Separation from Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;The Company reasonably anticipates that the making of the payment will violate Federal securities laws or other applicable law, <u>provided</u> that the payment is made at the earliest date at which the Company reasonably anticipates that the making of the payment will not cause such violation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Upon such other events as determined by the Company and according to such terms as are consistent with Section 409A or are prescribed by the Commissioner of Internal Revenue.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Acceleration of Distributions</u>. The Company may, in its discretion, distribute all or a portion of a Participant's Accounts at an earlier time and in a different form than specified above in this <u>Article 6</u> under the circumstances described below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;As may be necessary to fulfill a Domestic Relations Order. Distributions pursuant to a Domestic Relations Order shall be made according to administrative procedures established by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;To the extent reasonably necessary to avoid the violation of ethics laws or conflict of interest laws pursuant to Section 1.409A-3(j)(ii) of the Treasury regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;To pay FICA on amounts deferred under the Plan and the income tax resulting from such payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;To pay the amount required to be included in income as a result of the Plan's failure to comply with Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;If the Company determines, in its discretion, that it is advisable to liquidate the Plan in connection with a termination of the Plan pursuant to <u>Section 11.2</u>, subject to <u>Article 7</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;As satisfaction of a debt of the Participant to an Affiliate, where such debt is incurred in the ordinary course of the service relationship between the Affiliate and the Participant, the entire amount of the reduction in any Plan Year does not exceed $5,000, and the reduction is made at the same time and in the same amount as the debt otherwise would have been due and collected from the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;If the Participant has an unforeseeable emergency. For these purposes an "unforeseeable emergency" is a severe financial hardship to the Participant, resulting from an illness or accident of the Participant, the Participant's spouse, the Beneficiary, or the Participant's dependent (as defined in Section 152, without regard to Section 152(b)(1), (b)(2), and (d)(1)(B) of the Code); loss of the Participant's property due to casualty (including the need to rebuild a home following damage to a home not otherwise covered by insurance, for example, not as a result of a natural disaster); or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. For example, the imminent foreclosure of or eviction from the Participant's primary residence may constitute an unforeseeable emergency. In addition, the need to pay for medical expenses, including non-refundable deductibles, as well as for the cost of prescription drug medication, may constitute an unforeseeable emergency. Finally, the need to pay for funeral expenses of a spouse, Beneficiary, or a dependent (as defined in Section 152, without regard to 152(b)(1), (b)(2), and (d)(1)(B) of the Code) may also constitute an unforeseeable emergency. Except as otherwise provided in this paragraph (g), the purchase of a home and the payment of college tuition are not unforeseeable emergencies. Whether a Participant or Beneficiary is faced with an unforeseeable emergency permitting a distribution under this paragraph (g) is to be determined based on the relevant facts and circumstances of each case, but, in any case a

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distribution on account of an unforeseeable emergency may not be made to the extent that such emergency is or may be relieved through reimbursement or compensation from insurance or otherwise, by liquidation of the Participant's assets, to the extent the liquidation of such assets would not cause severe financial hardship, or by cessation of Elective Deferrals. Distributions because of an unforeseeable emergency must be limited to the amount reasonably necessary to satisfy the emergency need (which may include amounts necessary to pay any Federal, state, local, or foreign income taxes or penalties reasonably anticipated to result from the distribution). A determination of the amounts reasonably necessary to satisfy the emergency need must take into account any additional compensation that is available due to cancellation of the Participant's Deferral Election Agreement pursuant to <u>Section 5.1.1</u> as a result of this paragraph (g).

Notwithstanding anything in this <u>Section 6.4.5</u> to the contrary, except for a Participant's election to request a distribution due to an unforeseeable emergency under paragraph (g), above (which the Participant, in his or her discretion, may elect to make or not make), the Company shall not provide the Participant with discretion or a direct or indirect election regarding whether a payment is accelerated pursuant to this <u>Section 6.4.5</u>.

Section 6.5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Determination of Amount of Installment Payment</u>. An Account to be distributed in the form of installments will be credited with gains and losses pursuant to <u>Section</u> <u>5.2</u> during the payout period. The dollar amount of each installment payment will be determined as follows. For the first Plan Year in which installment payments are to be made, the Account balance will be determined as of the distribution commencement date (taking into account any Elective Deferrals, vested Company contributions and gains and losses credited to the Account pursuant to <u>Section 5.2</u> as of such date). For this year, the amount of each installment payment will be determined by dividing the Account balance, as so determined, by the total number of months that installment payments are required to be made to exhaust the Account. For each Plan Year thereafter, the dollar amount of each installment payment to be paid during the Plan Year will be determined once during the year, at the beginning of the Plan Year (the "<u>Valuation</u> <u>Date</u>"), by dividing the Account balance, determined as of the Valuation Date (taking into account gains and losses credited to the Account pursuant to <u>Section 5.2</u> and payments that have been made from the Account as of such Valuation Date), by the total number of months remaining, determined as of such Valuation Date, that installment payments are required to be made to exhaust the Account.

ARTICLE 7

<u>SPECIAL RULES FOR DEFERRED STOCK UNIT ACCOUNTS</u>

Section 7.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Unit Deferrals</u>. A Participant may elect to reduce his or her Stock Compensation for a Plan Year and have the amount of the reduction contributed to the Plan and credited as Stock Units in one or more Deferred Stock Unit Accounts. A Participant wishing to defer his or her Stock Compensation under the Plan for a Plan Year shall enter into a Stock Deferral Election Agreement. A separate Stock Deferral Election Agreement must be entered into for each Plan Year that a Participant wishes to defer his or her Stock Compensation under

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the Plan. In order to be effective, the Stock Deferral Election Agreement must be completed and submitted to the Company at the time and in the manner specified by the Committee. For the avoidance of doubt, with respect to Stock Deferral Election Agreements and Stock Elective Deferrals, the terms of <u>Section 7.2</u> shall supersede the provisions of the Plan to the extent such provisions are inconsistent with the terms of <u>Section 7.2</u>. Notwithstanding the foregoing, this <u>Section 7.1</u> does not apply to Deferred Stock Unit Accounts established pursuant to <u>Section 4.3</u>.

Section 7.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Deferral Election</u>. Each Stock Deferral Election Agreement shall specify the amount of Stock Compensation the Participant wishes to have deducted from his or her Stock Compensation and contributed to the Plan by percentage. Each Participant may elect to make a Stock Elective Deferral under the Plan for each Plan Year in an amount equal to any whole percentage equal to not less than 5% and not in excess of 80% of his or her Stock Compensation.

Section 7.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Crediting</u>. Each deferral of Stock Compensation shall be credited as Stock Units to a Deferred Stock Unit Account. In addition, each converted Medtronic DSU Award pursuant to Section 4.3 shall be credited as Stock Units to a Deferred Stock Unit Account.

Section 7.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting</u>. The Stock Units credited to each Deferred Stock Unit Account will vest in accordance with the terms and conditions of the 2026 MiniMed Group, Inc. Long Term Incentive Plan (or any successor thereto) and the written award agreement pursuant to which the underlying Stock Compensation was issued to the Participant. Notwithstanding the foregoing, Stock Units credited to a Deferred Stock Unit Account pursuant to <u>Section 4.3</u> shall vest (or shall be deemed vested) in accordance with the provisions of <u>Section 4.3</u>.

Section 7.5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Distribution</u>. A Participant shall be entitled to elect whether distribution of a Deferred Stock Unit Account shall be made as follows: (a) in a lump sum upon the Participant's Separation from Service (or, if later, the vesting date applicable to the underlying Stock Compensation); (b) in five (5) substantially equal installments over the five (5) year period following the Participant's Separation from Service (or, if later, the vesting date applicable to the underlying Stock Compensation) or (c) in ten (10) substantially equal installments over the ten (10) year period following the Participant's Separation from Service (or, if later, the vesting date applicable to the underlying Stock Compensation). For Stock Units credited to a Participant's Deferred Stock Unit Account pursuant to <u>Section 4.3</u>, the existing deferral and distribution elections made by the Participant under the Medtronic CAP shall be recognized and maintained by the Company unless and until such time as a new election that by its terms supersedes the original election is made by the Participant in accordance with applicable law (including Section 409A) and the terms and conditions of this Plan.

ARTICLE 8

<u>CHANGE OF CONTROL PROVISIONS</u>

Section 8.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Application of Article 7</u>. To the extent applicable, the provisions of this <u>Article 8</u> relating to a Change of Control of the Company shall control, notwithstanding any other provision of the Plan to the contrary, and shall supersede any other provision of the Plan to the extent inconsistent with the provisions of this <u>Article 8</u>.

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Section 8.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Legal Fees and Expenses</u>. The Company shall reimburse a Participant or his or her Beneficiary for all reasonable legal fees and expenses incurred by such Participant or Beneficiary after the date of a Change of Control in seeking to obtain any right or benefit provided by the Plan; <u>provided</u>, <u>however</u>, that: (a) any such reimbursement shall be made during a period not to exceed 20 years following the date of the Change of Control; (b) the amount eligible for reimbursement during a taxable year of the Participant or Beneficiary shall not affect the amount eligible for reimbursement in any other taxable year; (c) the reimbursement is made on or before the last day of the Participant's or Beneficiary's taxable year following the taxable year in which the legal fees and expenses are incurred; and (d) the right to reimbursement is not subject to liquidation or exchange for another benefit.

Section 8.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Late Payment and Additional Payment Provisions</u>. If, after the date of a Change of Control, the Company delays a payment required to be made under the Plan past the final date that the payment was due to be made, the amount of each such delayed payment shall be credited with interest at the rate of five percent per year, compounded quarterly, from the date on which the distribution was required to be made under the terms of the Plan until the actual date of the distribution. In the event that this interest is to be credited for some period less than a full calendar quarter, the interest shall be determined and compounded for the fractional quarter. This interest represents a late payment penalty for the delay in payment and is intended to supplement any other interest or gains credited to a Participant's Account under the Plan.

Any benefit payments made by the Company after the date on which a benefit distribution was required to be made under the terms of the Plan shall be applied first against the first due of such benefit distributions (with application first against any applicable late payment penalty and next against the benefit amount itself) until fully paid, and next against the next due of such payments in the same manner, and so forth, for purposes of calculating the late payment penalties hereunder.

In the event that payment of benefits has commenced to a Participant or Beneficiary prior to the date of a Change of Control, then the date on which distribution was required to be made under the terms of the Plan shall be determined with reference to the payment provision that was in effect prior to the date of the Change of Control. No adjustment may be made to any payment form which was in effect prior to the date of an Event with respect to any Account which would have the effect of delaying payments otherwise to be made under the payment form or otherwise increasing the period of time over which payments are to be made, except as elected by the Participant pursuant to the Plan.

ARTICLE 9

<u>FUNDING</u>

Section 9.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Source of Benefits</u>. All benefits under the Plan shall be paid when due by the Company out of its assets. The Company may, but is not required to, establish a grantor trust to hold Plan assets (whether or not in combination with assets of another plan).

Section 9.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Claim on Specific Assets</u>. No Participant shall be deemed to have, by virtue of being a Participant in the Plan, any claim on any specific assets of the Company such

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that the Participant would be subject to income taxation on his or her benefits under the Plan prior to distribution and the rights of Participants and Beneficiaries to benefits to which they are otherwise entitled under the Plan shall be those of an unsecured general creditor of the Company.

ARTICLE 10

<u>ADMINISTRATION</u>

Section 10.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Administration</u>. The Plan shall be administered by the Committee. The Company shall bear all administrative costs of the Plan other than those specifically charged to a Participant or Beneficiary.

Section 10.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Powers of Committee</u>. In addition to the other powers granted under the Plan, the Committee shall have all powers necessary to administer the Plan, including, without limitation, powers to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;interpret the provisions of the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;establish and revise the method of accounting for the Plan and to maintain the Accounts; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;establish rules for the administration of the Plan and to prescribe any forms required to administer the Plan.

Section 10.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Actions of the Committee</u>. Except as modified by the Board, the Committee (including any person or entity to whom the Committee has delegated duties, responsibilities or authority, to the extent of such delegation) has total and complete discretionary authority to determine conclusively for all parties all questions arising in the administration of the Plan, to interpret and construe the terms of the Plan, and to determine all questions of eligibility and status of employees, Participants and Beneficiaries under the Plan and their respective interests. Subject to the claims procedures of <u>Section 10.6</u>, all determinations, interpretations, rules and decisions of the Committee (including those made or established by any person or entity to whom the Committee has delegated duties, responsibilities or authority, if made or established pursuant to such delegation) are conclusive and binding upon all persons having or claiming to have any interest or right under the Plan.

Section 10.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Delegation</u>. The Committee, or any officer designated by the Committee, shall have the power to delegate specific duties and responsibilities to officers or other employees of the Company or other individuals or entities. Any delegation may be rescinded by the Committee at any time. Each person or entity to which a duty or responsibility has been delegated shall be responsible for the exercise of such duty or responsibility and shall not be responsible for any act or failure to act of any other person or entity.

Section 10.5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Reports and Records</u>. The Committee, and those to whom the Committee has delegated duties under the Plan, shall keep records of all their proceedings and actions and shall maintain books of account, records, and other data as shall be necessary for the proper administration of the Plan and for compliance with applicable law.

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Section 10.6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Claims Procedure</u>. The Committee shall notify a Participant in writing within 90 days of the Participant's written application for benefits of his or her eligibility or non- eligibility for benefits under the Plan. If the Committee determines that a Participant is not eligible for benefits or full benefits, the notice shall set forth: (a) the specific reasons for such denial; (b) a specific reference to the provision of the Plan on which the denial is based; (c) a description of any additional information or material necessary for the claimant to perfect his or her claim, and a description of why it is needed; and (d) an explanation of the Plan's claims review procedure and other appropriate information as to the steps to be taken if the Participant wishes to have his or her claim reviewed. If the Committee determines that there are special circumstances requiring additional time to make a decision, the Committee shall notify the Participant of the special circumstances and the date by which a decision is expected to be made, and may extend the time for up to an additional 90-day period. If a Participant is determined by the Committee to be not eligible for benefits, or if the Participant believes that he or she is entitled to greater or different benefits, the Participant shall have the opportunity to have his or her claim reviewed by the Committee by filing a petition for review with the Committee within 60 days after receipt by the Participant of the notice issued by the Committee. If a Participant does not appeal on time, the Participant will lose the right to appeal the denial and the right to file suit under ERISA, and the Participant will have failed to exhaust the Plan's internal administrative appeal process, which is generally a prerequisite to bringing suit. Said petition shall state the specific reasons the Participant believes he or she is entitled to benefits or greater or different benefits. Within 60 days after receipt by the Committee of said petition, the Committee shall afford the Participant (and his or her counsel, if any) an opportunity to present the Participant's position to the Committee orally or in writing, and the Participant (or his or her counsel) shall have the right to review the pertinent documents, and the Committee shall notify the Participant of its decision in writing within said 60-day period, stating specifically the basis of the decision written in a manner calculated to be understood by the Participant and the specific provisions of the Plan on which the decision is based. If, because of the need for a hearing, the 60-day period is not sufficient, the decision may be deferred for up to another 60-day period at the election of the Committee, but notice of this deferral shall be given to the Participant. In the event an appeal of a denial of a claim for benefits is denied, any lawsuit to challenge the denial of such claim must be brought within one year of the date the Committee has rendered a final decision on the appeal.

ARTICLE 11

<u>AMENDMENTS AND TERMINATION</u>

Section 11.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Amendments</u>. The Company, by action of the Compensation Committee of the Board, or the Chief Executive Officer or the Chief Human Resources Officer of the Company, to the extent authorized by the Compensation Committee of the Board, may amend the Plan, in whole or in part, at any time and from time to time. Any such amendment shall be filed with the Plan documents. No amendment, however, may be effective to reduce a Participant's vested Account balances immediately before the date of such amendment, except that the Company may change investment funds pursuant to <u>Section 5.2</u>.

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Section 11.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination</u>. The Company reserves the right to terminate the Plan at any time by action of the Compensation Committee of the Board. Upon termination of the Plan, all Elective Deferrals and Company contributions will cease and no future Elective Deferrals or Company contributions will be made. Termination of the Plan shall not operate to eliminate or reduce a Participant's vested Account balances.

If the Plan is terminated, payments from the Accounts of all Participants and Beneficiaries shall be made at the time and in the manner specified in <u>Article 6</u> and <u>Article 7</u>, except as otherwise determined by the Company at the time of termination, subject to <u>Article 8</u> and to the requirements of Section 409A.

ARTICLE 12

<u>MISCELLANEOUS</u>

Section 12.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Guarantee of Employment or Contract to Perform Services</u>. Neither the adoption and maintenance of the Plan nor the execution by the Company of a Deferral Election Agreement with any Participant shall be deemed to be a contract of employment or for the performance of services between an Affiliate and any Participant. Nothing contained herein shall give any Participant the right to be retained in the employ of an Affiliate or to perform services for an Affiliate, or to interfere with the right of an Affiliate to discharge any Participant at any time; nor shall it give an Affiliate the right to require any Participant to remain in its employ or to perform services for it or to interfere with the Participant's right to terminate his or her employment or performance of services at any time.

Section 12.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Release</u>. Any payment of benefits to or for the benefit of a Participant or a Participant's Beneficiary that is made in good faith by the Company in accordance with the Company's interpretation of its obligations under the Plan shall be in full satisfaction of all claims against the Company for benefits under the Plan to the extent of such payment.

Section 12.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u>. Any notice permitted or required under the Plan shall be in writing and shall be hand-delivered or sent, postage prepaid, by first class mail, or by certified or registered mail with return receipt requested, to the principal office of the Company, if to the Company, or to the address last shown on the records of the Company, if to a Participant or Beneficiary. Any such notice shall be effective as of the date of hand-delivery or mailing.

Section 12.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Nonalienation</u>. No benefit payable at any time under the Plan shall be subject in any manner to alienation, sale, transfer, assignment, pledge, levy, attachment, or encumbrance of any kind by any Participant or Beneficiary, except with respect to a Domestic Relations Order.

Section 12.5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Withholding</u>. The Company may withhold from any payment of benefits or other compensation payable to a Participant or Beneficiary such amounts as the Company determines are reasonably necessary to pay any taxes or other amounts required to be withheld under applicable law.

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Section 12.6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Captions</u>. Article and section headings and captions are provided for purposes of reference and convenience only and shall not be relied upon in any way to construe, define, modify, limit, or extend the scope of any provision of the Plan.

Section 12.7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Applicable Law</u>. The Plan and all rights under the Plan shall be governed by and construed according to the laws of the State of California, except to the extent such laws are preempted by the laws of the United States of America.

Section 12.8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Invalidity of Certain Provisions</u>. If any provision of the Plan is held invalid or unenforceable, such invalidity or unenforceability shall not affect any other provision of the Plan and the Plan shall be construed and enforced as if such provision had not been included. The Plan is intended to comply in form and operation with Sections 409A and 457A of the Code, and shall be construed accordingly. If any provision of the Plan does not conform to the requirements of Sections 409A and 457A of the Code, the Plan shall be construed and enforced as if such provision had not been included.

Section 12.9.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Other Agreements</u>. The terms and conditions set forth herein constitute the entire understanding of the Company and the Participants with respect to the matters addressed herein.

Section 12.10.&nbsp;&nbsp;&nbsp;&nbsp;<u>Incapacity</u>. In the event that any Participant is unable to care for his or her affairs because of illness or accident, any payment due may be paid to the Participant's spouse, parent, brother, sister or other person deemed by the Committee to have incurred expenses for the care of such Participant, unless a duly qualified guardian or other legal representative has been appointed.

Section 12.11.&nbsp;&nbsp;&nbsp;&nbsp;<u>Electronic Media</u>. Notwithstanding anything in the Plan to the contrary, but subject to the requirements of ERISA, the Code, or other applicable law, any action or communication otherwise required to be taken or made in writing by a Participant or Beneficiary or by the Company or Committee shall be effective if accomplished by another method or methods required or made available by the Company or Committee, or their agent, with respect to that action or communication, including e-mail, telephone response systems, intranet systems, or the Internet.

Section 12.12.&nbsp;&nbsp;&nbsp;&nbsp;<u>USERRA Compliance</u>. The Participant and Company deferral and payment election requirements set forth in the Plan are deemed met to the extent a deferral election or payment election is provided to satisfy the requirements of the Uniformed Services Employment and Reemployment Rights Act of 1994, as amended.

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**<u>SCHEDULE A</u>**

Minimum Compensation Level of Employees Considered to be

"Eligible Employees" Under the Plan

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**<u>SCHEDULE B</u>**

Manner of Crediting Gains and Losses to Elective Deferral Accounts and

Company Contribution Accounts Pursuant to <u>Section 5.2</u>

## Exhibit 10.20

**Exhibit 10.20**

MINIMED GROUP, INC.

NONQUALIFIED RETIREMENT PLAN SUPPLEMENT

(effective as of March 9, 2026)

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**TABLE OF CONTENTS**

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| | |
|:---|:---|
| | **Page** |
| **ARTICLE 1 DEFERRED COMPENSATION ACCOUNT** | 2 |
| &nbsp;&nbsp;&nbsp;**Section 1.1.&nbsp;&nbsp;&nbsp;&nbsp;**Establishment of Account | 2 |
| **ARTICLE 2 DEFINITIONS, GENDER, AND NUMBER** | 2 |
| &nbsp;&nbsp;&nbsp;**Section 2.1.&nbsp;&nbsp;&nbsp;&nbsp;**Definitions | 2 |
| &nbsp;&nbsp;&nbsp;**Section 2.2.&nbsp;&nbsp;&nbsp;&nbsp;**Gender and Number | 7 |
| **ARTICLE 3 PARTICIPATION** | 7 |
| &nbsp;&nbsp;&nbsp;**Section 3.1.&nbsp;&nbsp;&nbsp;&nbsp;**Who May Participate | 7 |
| &nbsp;&nbsp;&nbsp;**Section 3.2.&nbsp;&nbsp;&nbsp;&nbsp;**Time and Conditions of Participation | 7 |
| &nbsp;&nbsp;&nbsp;**Section 3.3.&nbsp;&nbsp;&nbsp;&nbsp;**Termination and Suspension of Participation | 8 |
| &nbsp;&nbsp;&nbsp;**Section 3.4.&nbsp;&nbsp;&nbsp;&nbsp;**Missing Persons | 8 |
| &nbsp;&nbsp;&nbsp;**Section 3.5.&nbsp;&nbsp;&nbsp;&nbsp;**Relationship to Other Plans | 8 |
| &nbsp;&nbsp;&nbsp;**Section 3.6.&nbsp;&nbsp;&nbsp;&nbsp;**Plan Benefits for Participants who Separated from Service | 8 |
| **ARTICLE 4 TRANSITION OF SEPARATION PARTICIPANTS** | 8 |
| &nbsp;&nbsp;&nbsp;**Section 4.1.&nbsp;&nbsp;&nbsp;&nbsp;**Opening Account Balances and Participation | 8 |
| &nbsp;&nbsp;&nbsp;**Section 4.2.&nbsp;&nbsp;&nbsp;&nbsp;**Plan Elections and Designations | 9 |
| &nbsp;&nbsp;&nbsp;**Section 4.3.&nbsp;&nbsp;&nbsp;&nbsp;**Calculation of Limitations | 10 |
| **ARTICLE 5 MINIMED RETIREMENT PLAN SUPPLEMENTAL BENEFITS (FROZEN)** | 10 |
| &nbsp;&nbsp;&nbsp;**Section 5.1.&nbsp;&nbsp;&nbsp;&nbsp;**Frozen Benefit; No New Accruals | 10 |
| &nbsp;&nbsp;&nbsp;**Section 5.2.&nbsp;&nbsp;&nbsp;&nbsp;**Medtronic NRPS Nonqualified Retirement Plan Supplemental Benefit | 10 |
| &nbsp;&nbsp;&nbsp;**Section 5.3.&nbsp;&nbsp;&nbsp;&nbsp;**SplitCo Participants – Conversion and Transfer of Medtronic NRPS Benefits | 11 |
| &nbsp;&nbsp;&nbsp;**Section 5.4.&nbsp;&nbsp;&nbsp;&nbsp;**Payment of MiniMed Nonqualified Retirement Plan Account | 13 |
| **ARTICLE 6 PERSONAL INVESTMENT ACCOUNT SUPPLEMENTAL BENEFIT (FROZEN)** | 13 |
| &nbsp;&nbsp;&nbsp;**Section 6.4.&nbsp;&nbsp;&nbsp;&nbsp;**Crediting Gains and Losses to Nonqualified Personal Investment Account | 14 |
| &nbsp;&nbsp;&nbsp;**Section 6.5.&nbsp;&nbsp;&nbsp;&nbsp;**Vested Interest in Nonqualified Personal Investment Account | 15 |
| &nbsp;&nbsp;&nbsp;**Section 6.6.&nbsp;&nbsp;&nbsp;&nbsp;**Payment of Nonqualified Personal Investment Account | 15 |
| **ARTICLE 7 MINIMED CORE CONTRIBUTION ACCOUNT SUPPLEMENTAL BENEFIT** | 15 |
| &nbsp;&nbsp;&nbsp;**Section 7.1.&nbsp;&nbsp;&nbsp;&nbsp;**Calculation of MiniMed Core Contribution Account Supplemental Benefit | 15 |
| &nbsp;&nbsp;&nbsp;**Section 7.2.&nbsp;&nbsp;&nbsp;&nbsp;**Establishment of Nonqualified MiniMed Core Contribution Account | 16 |

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Section 7.3.&nbsp;&nbsp;&nbsp;&nbsp;**Crediting Gains and Losses to Nonqualified MiniMed Core Contribution Account | 16 |
| &nbsp;&nbsp;&nbsp;**Section 7.4.&nbsp;&nbsp;&nbsp;&nbsp;**Vested Interest in Nonqualified MiniMed Core Contribution Account | 17 |
| &nbsp;&nbsp;&nbsp;**Section 7.5.&nbsp;&nbsp;&nbsp;&nbsp;**Payment of Nonqualified MiniMed Core Contribution Account | 17 |
| **ARTICLE 8 ARTICLES, DEATH BENEFITS** | 17 |
| &nbsp;&nbsp;&nbsp;**Section 8.1.&nbsp;&nbsp;&nbsp;&nbsp;**Form and Time of Payment | 17 |
| &nbsp;&nbsp;&nbsp;**Section 8.2.&nbsp;&nbsp;&nbsp;&nbsp;**Beneficiary | 18 |
| **ARTICLE 9 CHANGE OF CONTROL PROVISIONS** | 18 |
| &nbsp;&nbsp;&nbsp;**Section 9.1.&nbsp;&nbsp;&nbsp;&nbsp;**Application of Article | 18 |
| &nbsp;&nbsp;&nbsp;**Section 9.2.&nbsp;&nbsp;&nbsp;&nbsp;**Legal Fees and Expenses | 18 |
| &nbsp;&nbsp;&nbsp;**Section 9.3.&nbsp;&nbsp;&nbsp;&nbsp;**Late Payment and Additional Payment Provisions | 18 |
| **ARTICLE 10 FUNDING** | 19 |
| &nbsp;&nbsp;&nbsp;**Section 10.1.&nbsp;&nbsp;&nbsp;&nbsp;**Source of Benefits | 19 |
| &nbsp;&nbsp;&nbsp;**Section 10.2.&nbsp;&nbsp;&nbsp;&nbsp;**No Claim on Specific Assets | 19 |
| **ARTICLE 11 ADMINISTRATION** | 19 |
| &nbsp;&nbsp;&nbsp;**Section 11.1.&nbsp;&nbsp;&nbsp;&nbsp;**Administration | 19 |
| &nbsp;&nbsp;&nbsp;**Section 11.2.&nbsp;&nbsp;&nbsp;&nbsp;**Powers of Committee | 19 |
| &nbsp;&nbsp;&nbsp;**Section 11.3.&nbsp;&nbsp;&nbsp;&nbsp;**Actions of the Committee | 20 |
| &nbsp;&nbsp;&nbsp;**Section 11.4.&nbsp;&nbsp;&nbsp;&nbsp;**Delegation | 20 |
| &nbsp;&nbsp;&nbsp;**Section 11.5.&nbsp;&nbsp;&nbsp;&nbsp;**Reports and Records | 20 |
| &nbsp;&nbsp;&nbsp;**Section 11.6.&nbsp;&nbsp;&nbsp;&nbsp;**Claims Procedure | 20 |
| &nbsp;&nbsp;&nbsp;**Section 11.7.&nbsp;&nbsp;&nbsp;&nbsp;**Additional Claims Procedure Requirements | 21 |
| **ARTICLE 12 AMENDMENTS AND TERMINATION** | 22 |
| &nbsp;&nbsp;&nbsp;**Section 12.1.&nbsp;&nbsp;&nbsp;&nbsp;**Amendments | 22 |
| &nbsp;&nbsp;&nbsp;**Section 12.2.&nbsp;&nbsp;&nbsp;&nbsp;**Termination | 23 |
| **ARTICLE 13 MISCELLANEOUS** | 23 |
| &nbsp;&nbsp;&nbsp;**Section 13.1.&nbsp;&nbsp;&nbsp;&nbsp;**No Guarantee of Employment | 23 |
| &nbsp;&nbsp;&nbsp;**Section 13.2.&nbsp;&nbsp;&nbsp;&nbsp;**Release | 23 |
| &nbsp;&nbsp;&nbsp;**Section 13.3.&nbsp;&nbsp;&nbsp;&nbsp;**Notices | 23 |
| &nbsp;&nbsp;&nbsp;**Section 13.4.&nbsp;&nbsp;&nbsp;&nbsp;**Nonalienation | 23 |
| &nbsp;&nbsp;&nbsp;**Section 13.5.&nbsp;&nbsp;&nbsp;&nbsp;**Withholding | 23 |
| &nbsp;&nbsp;&nbsp;**Section 13.6.&nbsp;&nbsp;&nbsp;&nbsp;**Captions | 24 |
| &nbsp;&nbsp;&nbsp;**Section 13.7.&nbsp;&nbsp;&nbsp;&nbsp;**Applicable Law | 24 |
| &nbsp;&nbsp;&nbsp;**Section 13.8.&nbsp;&nbsp;&nbsp;&nbsp;**Invalidity of Certain Provisions | 24 |
| &nbsp;&nbsp;&nbsp;**Section 13.9.&nbsp;&nbsp;&nbsp;&nbsp;**No Other Agreements | 24 |
| &nbsp;&nbsp;&nbsp;**Section 13.10.&nbsp;&nbsp;&nbsp;&nbsp;**Incapacity | 24 |
| &nbsp;&nbsp;&nbsp;**Section 13.11.&nbsp;&nbsp;&nbsp;&nbsp;**Electronic Media | 24 |

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Section 13.12.&nbsp;&nbsp;&nbsp;&nbsp;**Delay of Distributions Upon Certain Events | 24 |
| &nbsp;&nbsp;&nbsp;**Section 13.13.&nbsp;&nbsp;&nbsp;&nbsp;**Acceleration of Distributions Upon Certain Events | 25 |
| &nbsp;&nbsp;&nbsp;**Section 13.14.&nbsp;&nbsp;&nbsp;&nbsp;**Small Account Balances | 26 |
| &nbsp;&nbsp;&nbsp;**Section 13.15.&nbsp;&nbsp;&nbsp;&nbsp;**When a Plan Payment is Deemed to be Made | 26 |
| &nbsp;&nbsp;&nbsp;**Section 13.16.**&nbsp;&nbsp;&nbsp;&nbsp;Restricted Period | 27 |

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SCHEDULE A - CREDITING RATE

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**MINIMED GROUP, INC.**

**NONQUALIFIED RETIREMENT PLAN SUPPLEMENT**

MiniMed Group, Inc. (the "<u>Company</u>") wishes to establish this Executive Nonqualified Supplemental Benefit Plan (the "<u>Plan</u>") for the benefit of the Eligible Employees of the Company and certain of its Affiliates, effective as of March 9, 2026 (the "<u>Effective Date</u>"). This Plan was established by the Company, effective as of the Effective Date, in connection with the initial public offering and separation from Medtronic plc ("<u>Medtronic</u>", and such transaction, the "<u>Separation</u>") pursuant to the Employee Matters Agreement, dated March 1, 2026, by and between Medtronic Group Holding, Inc. and Kangaroo US HoldCo 2, Inc the "<u>EMA</u>"). The Company adopted this Plan to, amongst other objectives, assume and maintain liabilities for Eligible Employees who participated in the Medtronic NRPS Plan immediately prior to their applicable Standup Date (each as defined below).

This Plan was established, in part, to assume certain liabilities under the Medtronic Inc. Executive Nonqualified Supplemental Benefit Plan, as amended and restated on March 3, 2025 and further amended on March 4, 2026 (the "<u>Medtronic NRPS Plan</u>") with respect to SplitCo Employees (as defined in the EMA) who participated in the Medtronic NRPS Plan as of immediately prior to the applicable Standup Date, and select liabilities under the Medtronic NRPS Plan attributable to such SplitCo Employees were transferred to this Plan effective as of the applicable Standup Date. For the avoidance of doubt, the administrative provisions of this Plan, including, without limitation, <u>Article 11</u> through <u>Article 13</u>, apply to the liabilities transferred from the Medtronic NRPS Plan.

The purpose of the Plan is also to provide Eligible Employees with benefits that supplement those provided under certain of the tax-qualified plans maintained by the Company. More specifically, the Plan is intended to provide certain benefits on a nonqualified basis that are not otherwise provided under the Company's tax-qualified plans as a result of the application of certain legal limitations, including Code Sections 401(a)(17) and 415, on contributions, benefits and includible compensation and as a result of elections made by Eligible Employees under other plans maintained by the Company.

The Plan is not intended to be qualified under Section 401(a) of the Code. The Plan, as restated herein, is subject to, and intended to comply with, Section 409A of the Code.

The obligation of the Company to make payments under the Plan constitutes an unsecured (but legally enforceable) promise of the Company to make such payments and no person, including any Participant or Beneficiary, shall have any lien, prior claim or other security interest in any property of the Company as a result of the Plan.

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**ARTICLE 1**

**DEFERRED COMPENSATION ACCOUNT**

**Section 1.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Establishment of Account</u>. The Company shall establish one or more Accounts for each Participant which shall be utilized solely as a device to measure and determine the amount of deferred compensation to be paid under the Plan.

**Section 1.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Property of the Company</u>. Any amounts set aside for benefits payable under the Plan are the property of the Company, except, and to the extent, provided in any grantor trust that may be established by the Company in accordance with <u>Section 10.1</u>.

**ARTICLE 2**

**DEFINITIONS, GENDER, AND NUMBER**

**Section 2.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Definitions</u>. Whenever used in the Plan, the following words and phrases shall have the meanings set forth below unless the context plainly requires a different meaning, and when a defined meaning is intended, the term is capitalized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.1.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Account</u>" means a bookkeeping account established by the Company on its books and records to record and determine the benefits payable to a Participant or Beneficiary under the Plan. The Company shall establish a separate Account on behalf of each Participant for:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The benefit the Participant is entitled to receive pursuant to <u>Article 5</u>, if any, entitled the "MiniMed Nonqualified Retirement Plan Account";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;The benefit the Participant is entitled to receive pursuant to <u>Article 6</u>, if any, entitled the "Supplemental Personal Investment Account"; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The benefit the Participant is entitled to receive pursuant to <u>Article 7</u>, if any, entitled the "Supplemental MiniMed Core Contribution Account."

The Committee may establish any number of sub-accounts on behalf of a Participant or Beneficiary as the Committee considers necessary or advisable for purposes of maintaining a proper accounting of amounts to be credited under the Plan on behalf of a Participant or Beneficiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.2.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Affiliate</u>" or "<u>Affiliates</u>" means any entity that is required to be aggregated with the referenced company pursuant to Sections 414(b), (c), (m) or (o) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.3.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Beneficiary</u>" or "<u>Beneficiaries</u>" means the persons or trusts designated by a Participant in writing pursuant to <u>Section 8.2.1</u> as being entitled to receive any benefit payable under the Plan by reason of the death of a Participant, or, in the absence of such designation, the persons specified in <u>Section 8.2.2</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.4.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Board</u>" means the Board of Directors of the Company as constituted at the relevant time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.5.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Capital Accumulation Plan</u>" means the MiniMed Group, Inc. Capital Accumulation Plan Deferral Program, as amended or restated from time to time or any successor thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.6.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Change of Control</u>" means any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Act) (a "<u>Person</u>") becomes the Beneficial Owner (within the meaning of Rule 13d-3 promulgated under the Act) of 30% or more of either (i) the then-outstanding shares of the Stock (the "<u>Outstanding Company Shares</u>") or (ii) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the "<u>Outstanding Company Voting Securities</u>"); provided that, for purposes of this subsection (a), the following acquisitions shall not constitute a Change of Control: (1) an acquisition directly from the Company; (2) an acquisition by the Company or a Subsidiary; (3) an acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any Subsidiary; (4) any acquisition by an underwriter temporarily holding securities pursuant to an offering of such securities or (5) an acquisition pursuant to a transaction that complies with <u>Sections 2.1.6(b)</u>, <u>(c)</u> and <u>(d)</u> below;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Individuals who, on the Effective Date, constitute the Board (the "<u>Incumbent Directors</u>") cease for any reason to constitute at least a majority of the Board; provided that any person becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company's shareholders, was approved by a vote of at least a majority of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director, without written objection to such nomination) shall be considered an Incumbent Director; but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of any Person other than the Board;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The consummation of a reorganization, merger, statutory share exchange or consolidation (or similar corporate transaction) involving the Company or a Subsidiary, the sale or other disposition of all or substantially all of the Company's assets, or the acquisition of assets or stock of another entity (a "<u>Business Combination</u>"), unless immediately following such Business Combination: (i) substantially all of the individuals and entities who were Beneficial Owners, respectively, of the Outstanding Company Shares and the Outstanding Company Voting Securities immediately prior to such Business

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Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then-outstanding Shares and the total voting power of (A) the corporation resulting from such Business Combination (the "<u>Surviving Corporation</u>") or (B) if applicable, the ultimate parent corporation that directly or indirectly has beneficial ownership of 80% or more of the voting securities eligible to elect directors of the Surviving Corporation (the "<u>Parent Corporation</u>"), in substantially the same proportion as their ownership, immediately prior to the Business Combination, of the Outstanding Company Shares and the Outstanding Company Voting Securities, as the case may be, (ii) no Person (other than any employee benefit plan (or related trust) sponsored or maintained by the Surviving Corporation or the Parent Corporation) is or becomes the Beneficial Owner, directly or indirectly, of 30% or more of the outstanding Shares and the total voting power of the outstanding securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) and (iii) at least a majority of the members of the Board of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) following the consummation of the Business Combination were Incumbent Directors at the time of the Board's approval of the initial agreement providing for such Business Combination; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company.

Notwithstanding anything to the contrary contained herein, none of the Initial Public Offering, the Divestment or the Other Disposition (each as defined in the Separation Agreement dated March 1, 2026, by and between Medtronic Group Holding, Inc. and Kangaroo US HoldCo 2, Inc.) shall constitute a Change of Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.7.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Code</u>" means the Internal Revenue Code of 1986, as amended from time to time and any successor statute. References to a Code section shall be deemed to be to that section or to any successor to that section, and to all guidance issued under that section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.8.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Committee</u>" means the Compensation and Talent Committee or individual appointed by the Compensation and Talent Committee of the Board (or any person or entity designated by the Committee) to administer the Plan pursuant to <u>Section 11.4</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.9.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Company</u>" means MiniMed Group, Inc. and its successors and assigns, by merger, purchase or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.10.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Domestic Relations Order</u>" has the meaning set forth in Section 414(p)(l)(B) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.11.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Eligible Employee</u>" means an elected or appointed officer of the Company, or any other key employee of the Company or an Affiliate, excluding any

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individual who is neither a United States citizen nor a United States resident. In order to be an Eligible Employee an employee must be a member of a select group of management or highly compensated employees within the meaning of Sections 201(2), 301(a)(3) and 40l(a)(l) of ERISA and rules established by the Committee. The Company may make such projections or estimates as it deems desirable in applying the eligibility requirements, and its determination shall be conclusive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.12.&nbsp;&nbsp;&nbsp;&nbsp;"<u>ERISA</u>" means the Employee Retirement Income Security Act of 1974, as amended from time to time and any successor statute. References to an ERISA section shall be deemed to be to that section or to any successor to that section, and to all guidance issued under that section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.13.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Interest Rate</u>" means an annual rate of two percent (2%) or such other reasonable rate of interest as is selected by the Committee, in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.14.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Medtronic Retirement Plan Supplemental Benefit</u>" has the meaning set forth in <u>Article 5</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.15.&nbsp;&nbsp;&nbsp;&nbsp;"<u>MiniMed Core Contribution Account</u>" has the same meaning as in the Savings and Investment Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.16.&nbsp;&nbsp;&nbsp;&nbsp;"<u>MiniMed Core Contribution Account Supplemental Benefit</u>" has the meaning set forth in <u>Article 7</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.17.&nbsp;&nbsp;&nbsp;&nbsp;"<u>MiniMed Nonqualified Retirement Plan Account</u>" means, solely with respect to SplitCo Participants described in <u>Article 5</u>, the bookkeeping account established pursuant to <u>Section 5.3.3(c)</u> to which the Transition Amount (as defined in <u>Section 5.3.3(b)</u>) is credited, together with interest credited in accordance with <u>Section 5.3.3(c)(i)</u>. For the avoidance of doubt, MiniMed Nonqualified Retirement Plan Accounts are maintained only for SplitCo Participants who had accrued Medtronic Retirement Plan Supplemental Benefits under the Medtronic NRPS Plan; no other Participants shall have MiniMed Nonqualified Retirement Plan Accounts under this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.18.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Participant</u>" means an Eligible Employee who has commenced participation in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.19.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Personal Investment Account</u>" has the same meaning as in the Medtronic Savings and Investment Plan, as in effect on the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.20.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Personal Investment Account Supplemental Benefit</u>" has the meaning set forth in <u>Article 6</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.21.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Plan</u>" means the "MiniMed Group, Inc. Nonqualified Retirement Plan Supplement" as set forth herein and as amended or restated from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.22.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Plan Year</u>" means the 12-month period commencing each January 1 and ending the following December 31.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.23.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Savings and Investment Plan</u>" means the MiniMed Savings and Investment Plan as amended from time to time, and any successor thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.24.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Section 401(a)(17) Limitation</u>" means the limitation on the dollar amount of compensation that may be taken into account under qualified retirement plans under Section 401(a)(17) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.25.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Section 415 Limitation</u>" means the limitation on benefits for qualified defined benefit pension plans and the limitation on allocations for qualified defined contribution plans, which are imposed by Section 415(b) and (c), respectively, of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.26.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Separation from Service</u>" or "<u>Separate from Service</u>," with respect to a Participant, means the Participant's separation from service with all Affiliates, within the meaning of Section 409A(a)(2)(A)(i) of the Code. Solely for this purpose, a Participant will be considered to have a Separation from Service when the Participant dies, retires, or otherwise has a termination of employment with all Affiliates. The employment relationship is treated as continuing intact while the Participant is on military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six months, or if longer, so long as the individual retains a right to reemployment with the Affiliate under an applicable statute or by contract. For purposes hereof, a leave of absence constitutes a bona fide leave of absence only if there is a reasonable expectation that the Participant will return to perform services for an Affiliate. If the period of leave exceeds six months and the individual does not retain a right to reemployment under an applicable statute or by contract, the employment relationship is deemed to terminate, and the Separation from Service occur, on the day immediately following the end of such six month period. Notwithstanding the foregoing, where a leave of absence is due to any medically determinable physical or mental impairment that can be expected to last for a continuous period of not less than six months, where such impairment causes the employee to be unable to perform the duties of his or her position of employment or any substantially similar position of employment, the Company may substitute a 29-month period of absence for such six-month period.

Whether a termination of employment has occurred is determined based on whether the facts and circumstances indicate that the Affiliate and the Participant reasonably anticipated that no further services will be performed after a certain date or that the level of bona fide services the Participant will perform after such date (whether as an employee or independent contractor) will permanently decrease to no more than 40 percent of the average level of bona fide services performed (whether as an employee or independent contractor) over the immediately preceding 36-month period (or the full period of services if the Participant has been providing services for less than 36 months).

Notwithstanding anything in <u>Section 2.1.2</u> to the contrary, in determining whether a Participant has had a Separation from Service with an Affiliate, an entity's status as an "Affiliate" shall be determined substituting "50 percent" for "80 percent" each place it appears in Section 1563(a)(l),(2), and (3) and in Treasury Regulation Section 1.414(c)-2.

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The Company shall have discretion to determine whether a Participant has experienced a Separation from Service in connection with an asset sale transaction entered into by the Company or an Affiliate, provided that such determination conforms to the requirements of Section 409A, in which case the Company's determination shall be binding on the Participant.

For the avoidance of doubt, the assumed "separation from service" to calculate a SplitCo Participant's Medtronic Retirement Plan Supplemental Benefit under the Medtronic NRPS Plan utilized to determine a SplitCo Participant's Transition Amount and MiniMed Retirement Plan Supplemental Benefit does not constitute a Separation from Service for purposes of vesting, payment or distribution under this Plan, the Medtronic NRPS Plan or any other plan, program, or arrangement maintained by the Company, Medtronic or any of their Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.27.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Section 409A</u>" means Section 409A of the Code, as amended from time to time, any successor statute, and all guidance issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.28.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Specified Employee</u>" means an employee of an Affiliate who is subject to the six-month delay rule described in Section 409A(2)(B)(i) of the Code. The Company shall establish a written policy for identifying Specified Employees in a manner consistent with Section 409A, which policy may be amended by the Company from time to time as permitted by Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.29.&nbsp;&nbsp;&nbsp;&nbsp;"<u>SplitCo Participant</u>" means a Day 1 SplitCo Participant or a Day 2 SplitCo Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.30.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Standup Date</u>" has the meaning set forth in the EMA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1.31.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Stock</u>" means the Company's common stock $0.01 par value per share (as such par value may be adjusted from time to time).

**Section 2.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Gender and Number</u>. Except as otherwise indicated by context, masculine terminology used herein also includes the feminine and neuter, and terms used in the singular may also include the plural.

**ARTICLE 3**

**PARTICIPATION**

**Section 3.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Who May Participate</u>. Except as set forth in <u>Article 4</u> below, participation in the Plan is limited to Eligible Employees.

**Section 3.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Time and Conditions of Participation</u>. An Eligible Employee shall become a Participant on the date on which he or she first accrues a benefit under the Plan, provided that he or she is then in compliance with such terms and conditions as the Committee may from time to time establish for the implementation of the Plan, including, but not limited to, any condition the Committee may deem necessary or appropriate for the Company to meet its obligations under the Plan.

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**Section 3.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Termination and Suspension of Participation</u>. Once an individual has become a Participant, participation shall continue until payment in full of all benefits to which the Participant or Beneficiary is entitled under the Plan.

**Section 3.4.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Missing Persons</u>. Each Participant and Beneficiary entitled to receive benefits under the Plan shall be obligated to keep the Company informed of his or her current address until all Plan benefits that are due to be paid to the Participant or Beneficiary have been paid to him or her. If, after having made reasonable efforts to do so, the Company is unable to locate the Participant or Beneficiary for purposes of making a distribution, the Participant's or Beneficiary's Plan benefit will be forfeited. In no event will a Participant's or Beneficiary's benefit be paid to him or her later than the date otherwise required by the Plan.

**Section 3.5.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Relationship to Other Plans</u>. Participation in the Plan shall not preclude participation of the Participant in any other fringe benefit program or plan sponsored by an Affiliate for which the Participant would otherwise be eligible. Notwithstanding anything in the Plan to the contrary, to the extent permitted by Section 409A, the Committee, or anyone to whom the Committee has delegated this authority pursuant to <u>Section 11.4</u>, may reduce the benefits payable to a Participant under the Plan if, and to the extent that, benefits are payable to the Participant under another similar plan or arrangement maintained by the Company or an Affiliate. The Committee (or its delegate) shall have complete and absolute discretion to determine whether another benefit plan or arrangement maintained by the Company or an Affiliate is similar to the Plan, whether the benefit under the Plan can be reduced in a manner that does not cause a violation of Section 409A, and the amount of the reduction to be applied.

**Section 3.6.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Plan Benefits for Participants who Separated from Service</u>. The benefits provided under the Plan with respect to any Participant who has incurred a Separation from Service shall, except as otherwise specifically provided in the Plan, be governed in all respects by the terms of the Plan as in effect as of the date of the Participant's Separation from Service. A Participant's reemployment by, or performance of services for, the Company or an Affiliate after incurring a Separation from Service shall not affect the payment timing or amount of his or her Account(s) under the Plan attributable to his or her service prior to his or her Separation from Service.

**ARTICLE 4**

**TRANSITION OF SEPARATION PARTICIPANTS**

**Section 4.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Opening Account Balances and Participation</u>. Unless otherwise expressly set forth herein, the opening account balance under this Plan as of the actual date of transfer to the Company of any SplitCo Employee who had accumulated benefits under the Medtronic NRPS Plan, the responsibility for which is transferred to the Company pursuant to the EMA, shall be the account balance such Participant had in the Medtronic NRPS Plan immediately before the Separation. The amounts credited to such Accounts shall be maintained and administered in accordance with this Plan. For purposes of this <u>Article 4</u> and <u>Article 5</u> only, "<u>Participant</u>" shall include SplitCo Employees who had accrued benefits under the Medtronic NRPS Plan, the responsibility for which is transferred to the Company under the EMA. SplitCo Employees must separately meet the participation criteria set forth in <u>Section 3.1</u> to become an

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Eligible Employee under the Plan in order to be eligible to accrue additional benefits hereunder on or after the Separation Date. Notwithstanding the foregoing, the treatment of Medtronic Retirement Plan Supplemental Benefits accrued under the Medtronic NRPS Plan for SplitCo Participants described in <u>Article 5</u> shall be governed exclusively by the provisions of <u>Article 5</u>.

**Section 4.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Plan Elections and Designations</u>. Notwithstanding anything herein to the contrary and in accordance with the requirements of the EMA, all beneficiary designations, deferral election forms, investment elections, payment form elections, and qualified domestic relations orders creating rights for alternate payees in effect under the Medtronic NRPS Plan as of the applicable Standup Date shall be deemed to be effective with respect to the Plan; provided, however, that investment elections relating to the Medtronic Stock Fund (as defined below) shall be subject to the provisions set forth in this <u>Section 4.2</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Medtronic Stock Fund Elections – Advance Reallocation Window</u>. As soon as reasonably practicable following the applicable Standup Date, the Company shall notify each affected Participant (each, a "<u>Stock Fund Participant</u>") of (a) the treatment of his or her Medtronic Stock Fund election under this <u>Section 4.2</u>, (b) the investment measures available under this Plan (the "<u>Available Measures</u>"), and (c) the opportunity to submit a new investment election reallocating any amounts then notionally invested in the Medtronic Stock Fund to one or more Available Measures prior to the Automatic Mapping Date (as defined below). During this advance election window, Stock Fund Participants may reallocate their Medtronic Stock Fund balances in accordance with the rules of the Committee and consistent with the provisions of <u>Section 6.4</u> of this Plan. The Committee shall use commercially reasonable efforts to set forth reasonable procedures for the submission and processing of such reallocation elections. For purposes of this <u>Section 4.2</u>, the "<u>Medtronic Stock Fund</u>" means the Medtronic plc common stock fund investment option that was available as a notional investment measure under the Medtronic NRPS Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Medtronic Stock Fund – Deemed Liquidation</u>. As of the close of business on the day immediately preceding each Stock Fund Participant's Standup Date (the "<u>Automatic Mapping Date</u>"), any amounts then remaining notionally invested in the Medtronic Stock Fund that have not been reallocated pursuant to <u>Section 4.2.1</u> above shall be deemed to have been liquidated at a value equal to the closing price of a share of Medtronic common stock as of such Automatic Mapping Date, as determined by the Committee (or its designee) in good faith. The resulting notional cash proceeds shall be reallocated in accordance with <u>Section 4.2.3</u> below. For the avoidance of doubt, this deemed liquidation is solely a change to the notional investment measure applicable to the Participant's Account under this Plan and does not constitute a distribution, an acceleration of benefits, or any other change to the time or form of payment of any amounts under this Plan for purposes of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Mapping of Proceeds</u>. The notional cash proceeds resulting from the deemed liquidation under <u>Section 4.2.2</u> shall be reallocated among the Available Measures as follows:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*First*, if the Stock Fund Participant has existing investment elections in effect under the Plan with respect to one or more Available Measures (other than the Medtronic Stock Fund) as of the Automatic Mapping Date, the proceeds shall be allocated pro-rata among such other Available Measures in the same proportions as such existing elections; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Second*, if the Stock Fund Participant has no other investment election in effect as of the Automatic Mapping Date (i.e., the Stock Fund Participant was allocated 100% to the Medtronic Stock Fund), the proceeds shall be allocated to the default investment fund designated by the Committee under the Plan from time to time (the "<u>Default Fund</u>"), which shall initially be Vanguard Target Retirement Income Target Date funds (to be completed consistent with the MiniMed Savings and Investment Plan's qualified default investment alternative).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2.4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Section 409A Compliance</u>. The deemed liquidation and mapping of Medtronic Stock Fund elections pursuant to this <u>Section 4.2</u> is intended to constitute solely a change to the notional investment measure applicable to affected Accounts, and shall not be treated as a change in the time or form of payment, an acceleration of any amount subject to Section 409A, or a material modification of any deferral or payment election, in each case within the meaning of Section 409A and the Treasury Regulations thereunder. This <u>Section 4.2</u> shall be interpreted and administered in a manner consistent with Section 409A.

**Section 4.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Calculation of Limitations</u>. Notwithstanding anything herein to the contrary, for purposes of calculating the Section 415 Limitation and the Section 401(a)(17) Limitation, compensation and benefits accrued under the Medtronic NRPS Plan (and the underlying Medtronic qualified retirement plan(s)) and/or while a Participant was employed by Medtronic and its Affiliates during 2026 shall be taken into consideration under the Plan for the 2026 Plan Year.

**ARTICLE 5**

**MINIMED RETIREMENT PLAN SUPPLEMENTAL BENEFITS (FROZEN)**

**Section 5.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Frozen Benefit; No New Accruals</u>. This <u>Article 5</u> addresses only the treatment of Medtronic Retirement Plan Supplemental Benefits accrued by certain SplitCo Employees under the Medtronic NRPS Plan prior to their transfer to the Company pursuant to the EMA. The Company does not maintain or offer a final average pay pension arrangement and this Plan, including this <u>Article 5</u>, does not and will not constitute such an arrangement. No Participant (including any SplitCo Participant) shall accrue any MiniMed Retirement Plan Supplemental Benefits under this <u>Article 5</u> with respect to service or compensation earned on or after the applicable Transition Date (as defined in <u>Section 5.3.3(a)</u>).

**Section 5.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Medtronic NRPS Nonqualified Retirement Plan Supplemental Benefit</u>. Under Article 4 of the Medtronic NRPS Plan, eligible participants accrued a supplemental pension benefit (the "<u>Medtronic Retirement Plan Supplemental Benefit</u>") based on a final average pay (FAP) pension formula equal to: (a) the benefit the participant would have accrued

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under the Medtronic, Inc. Pension Plan and the Medtronic Puerto Rico Retirement Income Plan (collectively, the "<u>Medtronic Pension Plans</u>") without application of the Section 415 Limitation or the Section 40l(a)(17) Limitation, minus (b) the benefit actually payable under the Medtronic Pension Plans (taking into account such limitations under the Code). Upon a participant's "separation from service" (within the meaning of Section 409A) from Medtronic, a bookkeeping account would be established for the participant on the books and records of Medtronic with respect to such participant, equal to the lump sum actuarial equivalent of the participant's accrued Medtronic Retirement Plan Supplemental Benefit, with such lump sum calculated in accordance with the actuarial assumptions specified in the Medtronic NRPS Plan.

**Section 5.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>SplitCo Participants – Conversion and Transfer of Medtronic NRPS Benefits</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Day 1 SplitCo Participants</u>. A "<u>Day 1 SplitCo Participant</u>" means any SplitCo Employee who: (a) participated in the Medtronic NRPS Plan immediately prior to their Standup Date; (b) had accrued a Medtronic Retirement Plan Supplemental Benefit under Article 4 of the Medtronic NRPS Plan as of February 28, 2026; and (c) became an employee of the Company or an Affiliate effective as of February 28, 2026 pursuant to the EMA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Day 2 Transition Participants</u>. A "<u>Day 2 SplitCo Participant</u>" means any SplitCo Employee who: (a) participated in the Medtronic NRPS Plan immediately prior to their Standup Date; (b) had accrued a Medtronic Retirement Plan Supplemental Benefit under Article 4 of the Medtronic NRPS Plan as of their actual transfer date; and (c) became an employee of the Company or an Affiliate on or after March 1, 2026, pursuant to the EMA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3.3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Conversion to Fixed Lump Sum and Transfer to MiniMed NRPS</u>. Any Medtronic Retirement Plan Supplemental Benefit accrued under the Medtronic NRPS Plan with respect to a SplitCo Participant shall be transferred to, and all liabilities assumed by, this Plan in accordance with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Assumed Separation from Service for Calculation Purposes Only*. The transfer from employment with Medtronic or its Affiliates to employment with the Company or an Affiliate shall, solely for purposes of calculating and fixing the amount of the SplitCo Participant's Retirement Plan Supplemental Benefit under the Medtronic NRPS Plan and not for purposes of vesting or the commencement of payments, be treated as if the SplitCo Participant had incurred a "Separation from Service" under the Medtronic NRPS Plan, as of the following date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;For Day 1 SplitCo Participants: effective as of February 28, 2026 (the "<u>Day 1 Transition Date</u>"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;For Day 2 SplitCo Participants: effective as of the actual date of transfer to the Company, as determined under the EMA (the "<u>Day</u> 

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<u>2 Transition Date</u>," and together with the Day 1 Transition Date, each a "<u>Transition Date</u>").

For the avoidance of doubt, no SplitCo Employee who participates in the Medtronic NRPS Plan shall be deemed to have incurred a "separation from service" (within the meaning of Section 409A) under the Medtronic NRPS Plan solely due to the Separation or under the application of the provisions of this <u>Article 5</u>, and the calculation of such SplitCo Participant's Medtronic Retirement Plan Supplemental Benefit and the assumption of such benefits by this Plan shall not constitute an actual "separation from service" (within the meaning of Section 409A) or a Separation from Service for purposes of this Plan, the Medtronic NRPS Plan or any other plan, program, or arrangement maintained by the Company, Medtronic or any of their Affiliates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Calculation of Transition Amount*. As of the applicable Transition Date (solely for the calculation purposes described in <u>Section 5.3.3(a)</u> and not for purposes of vesting or the commencement of payments):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The SplitCo Participant's Medtronic Retirement Plan Supplemental Benefit accrued under the Medtronic NRPS Plan shall be calculated in accordance with the terms of the Medtronic NRPS Plan as in effect immediately prior to the Transition Date, using the actuarial assumptions, interest rate, and other calculation parameters specified in the Medtronic NRPS Plan as of such date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;The lump sum actuarial equivalent value of such Medtronic Retirement Plan Supplemental Benefit shall be determined and fixed as of the first day of the month following the month in which the Transition Date occurs (the "<u>Calculation Date</u>"); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Such fixed lump sum amount (the "<u>Transition Amount</u>") shall represent the entire value of the SplitCo Participant's Medtronic Retirement Plan Supplemental Benefit from the Medtronic NRPS Plan and shall not be recalculated, adjusted, or increased after the Calculation Date (except for interest credits as provided in <u>Section 5.3.3(c)</u>).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Transfer to Nonqualified Retirement Plan Account Under MiniMed NRPS*. Effective as of the Calculation Date, the Transition Amount shall be transferred to and credited to the Participant's MiniMed Nonqualified Retirement Plan Account. From and after the Calculation Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The Transition Amount credited to the MiniMed Nonqualified Retirement Plan Account shall be credited with interest at the Interest Rate in accordance with the same methodology applicable to other account-based benefits under this Plan;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;The SplitCo Participant's MiniMed Nonqualified Retirement Plan Account shall be maintained, administered, and distributed solely in accordance with the terms of this Plan, including the payment provisions set forth in <u>Section 5.4</u> and <u>Article 9</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;The SplitCo Participant shall have no further rights to benefits under Article 4 of the Medtronic NRPS Plan with respect to the Transition Amount; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;The SplitCo Participant shall not accrue any additional MiniMed Retirement Plan Supplemental Benefits under this Plan with respect to service or compensation earned on or after the Transition Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Continuous Employment; No Payment Until Actual Separation from Service*. The SplitCo Participant's transfer to the Company pursuant to the EMA shall be treated as continuous employment for all purposes under this Plan except as specifically provided in <u>Section 5.3.3(a)</u>. The SplitCo Participant shall not be entitled to payment or distribution of the MiniMed Nonqualified Retirement Plan Account until an actual Separation from Service occurs in accordance with <u>Section 2.1.26</u>.

**Section 5.4.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Payment of MiniMed Nonqualified Retirement Plan Account</u>. Payment to a SplitCo Participant of his or her MiniMed Nonqualified Retirement Plan Account shall commence as soon as administratively feasible on the first business day of the seventh month following the SplitCo Participant's actual Separation from Service (as determined under <u>Section 2.1.26</u>). All distributions of the MiniMed Nonqualified Retirement Plan Account shall be made in cash. If the value of the SplitCo Participant's MiniMed Nonqualified Retirement Plan Account, determined as of the date on which such Account is established, is greater than $100,000, the Account principal together with interest at the applicable Interest Rate shall be paid to the SplitCo Participant on a monthly basis over a 15-year period in 180 equal monthly installments. If the value of the Participant's MiniMed Nonqualified Retirement Plan Account, determined as of the date on which such Account is established, is $100,000 or less, the Account together with interest thereon shall be paid to the Participant in a lump sum.

**ARTICLE 6<br>PERSONAL INVESTMENT ACCOUNT SUPPLEMENTAL BENEFIT (FROZEN)**

**Section 6.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Frozen Benefit; No New Accruals</u>. This <u>Article 6</u> addresses only the treatment of Personal Investment Account Supplemental Benefits (as defined in the Medtronic NRPS Plan) accrued by certain SplitCo Employees under the Medtronic NRPS Plan prior to their transfer to the Company pursuant to the EMA, the liabilities for which have been assumed by this Plan as of the applicable Standup Date. The Personal Investment Account benefit under the Medtronic Savings and Investment Plan was available only to individuals who elected such retirement benefit option prior to January 1, 2016. Because MiniMed's Savings and Investment Plan does not and will not include a Personal Investment Account benefit, no Eligible Employee (including any SplitCo Participant) shall accrue any new Personal Investment Account

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Supplemental Benefit under this <u>Article 6</u> with respect to service or compensation earned on or after such Participant's applicable Standup Date. The sole purpose of this <u>Article 6</u> is to maintain and govern the payment of Personal Investment Account Supplemental Benefit balances transferred from the Medtronic NRPS Plan with respect to eligible SplitCo Participants ("<u>PIA SplitCo Participants</u>"). For the avoidance of doubt, this <u>Article 6</u> does not apply to any Eligible Employee who was not a participant in the Personal Investment Account feature of the Medtronic Savings and Investment Plan prior to January 1, 2016, and no Participant other than a PIA SplitCo Participant shall have a Nonqualified Personal Investment Account under this Plan.

**Section 6.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Transferred Personal Investment Account Supplemental Benefit Balances</u>. The opening balance credited to a PIA SplitCo Participant's Nonqualified Personal Investment Account under this Plan shall be equal to the balance of such Participant's Nonqualified Personal Investment Account (or equivalent account) under the Medtronic NRPS Plan immediately before such Participant's Standup Date, as transferred to this Plan pursuant to <u>Section 4.1</u> and the EMA. No additional Personal Investment Account Supplemental Benefit shall be accrued or credited under this <u>Article 6</u> with respect to any Plan Year commencing on or after the applicable PIA SplitCo Participant's Standup Date, except for investment credits pursuant to <u>Section 6.5</u>.

**Section 6.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Establishment of Nonqualified Personal Investment Account</u>. The Personal Investment Account Supplemental Benefit transferred to a PIA SplitCo Participant pursuant to <u>Section 6.1</u> shall be credited to an account established on the books and records of the Company, referred to as the "Nonqualified Personal Investment Account." The Nonqualified Personal Investment Account shall be maintained and administered solely in accordance with the terms of this Plan. For the avoidance of doubt, no new Nonqualified Personal Investment Account shall be established for any Participant who is not a PIA SplitCo Participant.

**Section 6.4.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Crediting Gains and Losses to Nonqualified Personal Investment Account</u>. The Committee shall designate the manner in which a PIA SplitCo Participant's Nonqualified Personal Investment Account is to be credited with gains and losses as described on <u>Schedule A</u> hereto, which Schedule may be amended from time to time in the Committee's discretion. If the Committee designates specific investment funds to serve as an index for crediting gains and losses to a Participant's Nonqualified Personal Investment Account: (a) the Participant shall be entitled to designate which such fund or funds shall be used to measure gains and losses on his or her Nonqualified Personal Investment Account and to change such designation in accordance with rules established by the Committee; (b) the Participant's Nonqualified Personal Investment Account will be credited with gains and losses as if invested in such fund or funds in accordance with the Participant's designation and the rules established by the Committee; and (c) the Committee may, in its sole discretion, eliminate any investment fund or funds previously designated by it, substitute a new investment fund or funds therefor, or add investment fund or funds, at any time. Investment elections applicable to the Nonqualified Personal Investment Account shall be subject to the transition rules set forth in <u>Section 4.2</u>, including, without limitation, the deemed liquidation and mapping of any Medtronic Stock Fund elections. If the Committee makes any such investment funds available for this purpose, the Company shall have no obligation to actually invest any amounts in any such investment funds. Unless the Committee

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adopts a different rule, investment designations may be changed, generally, on a business daily basis.

**Section 6.5.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Vested Interest in Nonqualified Personal Investment Account</u>. A PIA SplitCo Participant's vested interest in his or her Nonqualified Personal Investment Account shall be determined in the same manner as the Participant's vested interest in his or her Personal Investment Account, and the Company may forfeit the non-vested portion of the Participant's Nonqualified Personal Investment Account under the same rules and subject to the same limitations as provided for the Personal Investment Account under the Savings and Investment Plan. For purposes of applying the vesting schedule, service with Medtronic and its Affiliates prior to the applicable Standup Date shall be recognized as service with the Company and its Affiliates. Notwithstanding the preceding sentence, a PIA SplitCo Participant shall not earn a fully vested interest in his or her Nonqualified Personal Investment Account as a result of the termination or partial termination of the Plan in those situations where the Participant is not otherwise fully vested in such Account.

**Section 6.6.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Payment of Nonqualified Personal Investment Account</u>. Payment to a PIA SplitCo Participant of his or her Nonqualified Personal Investment Account shall commence as soon as administratively feasible on the first business day of the seventh month following his or her Separation from Service. All distributions of the Nonqualified Personal Investment Account will be paid in the form of cash. The Participant's Nonqualified Personal Investment Account principal as of the Participant's Separation from Service occurs shall be paid to the Participant on a monthly basis over a 15-year period in 180 equal monthly installments. During the payout period, interest shall be credited on the declining balance based upon the applicable Interest Rate rather than pursuant to <u>Section 6.5</u>. If the value of the Participant's Nonqualified Personal Investment Account, determined as soon as administratively feasible following the date on which the Participant's Separation from Service occurs, is $100,000 or less, the Account shall be paid to the Participant in a lump sum.

**ARTICLE 7**

**MINIMED CORE CONTRIBUTION ACCOUNT SUPPLEMENTAL BENEFIT**

**Section 7.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Calculation of MiniMed Core Contribution Account Supplemental Benefit</u>. An Eligible Employee who, pursuant to Section 5.4 of the Savings and Investment Plan, is eligible to receive MiniMed Core Contributions under that plan, shall be credited with a MiniMed Core Contribution Account Supplemental Benefit as of the end of each Plan Year that ends on or after December 31, 2027, in an amount equal to his or her Unrestricted MiniMed Core Contribution Account Allocation, as defined below in this <u>Section 7.1</u>, for such year less his or her Actual MiniMed Core Contribution Account Allocation, as defined below in this <u>Section 7.1</u>, for such year; provided, however, that for the year in which the Participant has a Separation from Service, the Participant's MiniMed Core Contribution Account Supplemental Benefit for such year shall be determined as of the end of the month in which the Separation from Service occurs.

An Eligible Employee's Unrestricted MiniMed Core Contribution Account Allocation for a year equals the dollar amount that would have been allocated by the Company to his or her MiniMed Core Contribution Account for the year, but without application of the Section 415

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Limitation or the Section 40l(a)(17) Limitation and based upon the compensation that would have been paid to the Eligible Employee during the year but for his or her election to defer his or her compensation under the Capital Accumulation Plan. For purposes hereof, compensation that is reduced pursuant to such an election shall be taken into account for the Plan Year during which such compensation would have been paid to the Eligible Employee but for such election and only to the extent that such compensation would otherwise be taken into account under the Savings and Investment Plan in calculating benefits thereunder had such compensation otherwise been paid directly to the Eligible Employee (but without regard to application of the Section 401(a)(17) Limitation). In addition, compensation for the 2026 Plan Year shall be taken into account only from May 1, 2026, through December 31, 2026. The Unrestricted MiniMed Core Contribution Account Allocation is determined without reduction for the Actual MiniMed Core Contribution Account Allocation.

An Eligible Employee's Actual MiniMed Core Contribution Account Allocation for a year equals the dollar amount that the Company actually allocates as a contribution to the Eligible Employee's MiniMed Core Contribution Account for such year.

Notwithstanding any provision of the Plan to the contrary, a Participant's Supplemental MiniMed Core Contribution Account shall be adjusted, pursuant to the terms of the Savings and Investment Plan, to reflect participation, as applicable, in any voluntary early retirement program or such other similar program sponsored by the Company and/or its Affiliates.

**Section 7.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Establishment of Nonqualified MiniMed Core Contribution Account</u>. The MiniMed Core Contribution Account Supplemental Benefit to be credited to a Participant for a Plan Year under <u>Section 7.1</u> shall be credited as of the last day of such year (except for the Plan Year in which a Participant has a Separation from Service, in which case it shall be credited as of the last day of the month in which the Separation from Service occurs) to an account established on the books and records of the Company, referred to as the "<u>Nonqualified MiniMed Core Contribution Account</u>."

**Section 7.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Crediting Gains and Losses to Nonqualified MiniMed Core Contribution Account</u>. The Committee shall designate the manner in which a Participant's Nonqualified MiniMed Core Contribution Account is to be credited with gains and losses as described on <u>Schedule A</u> hereto, which Schedule may be amended from time to time in the Committee's discretion. If the Committee designates specific investment funds to serve as an index for crediting gains and losses to a Participant's Nonqualified MiniMed Core Contribution Account: (a) the Participant shall be entitled to designate which such fund or funds shall be used to measure gains and losses on his or her Nonqualified MiniMed Core Contribution Account and to change such designation in accordance with rules established by the Committee; (b) the Participant's Nonqualified MiniMed Core Contribution Account will be credited with gains and losses as if invested in such fund or funds in accordance with the Participant's designation and the rules established by the Committee; and (c) the Committee may, in its sole discretion, eliminate any investment fund or funds previously designated by it, substitute a new investment fund or funds therefor, or add investment fund or funds, at any time. If the Committee makes any such investment funds available for this purpose, the Company shall have no obligation to

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actually invest any amounts in any such investment funds. Unless the Committee adopts a different rule, investment designations may be changed, generally, on a business daily basis.

**Section 7.4.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Vested Interest in Nonqualified MiniMed Core Contribution Account</u>. A Participant's vested interest in his or her Nonqualified MiniMed Core Contribution Account shall be determined in the same manner as the Participant's vested interest in his or her MiniMed Core Contribution Account, and the Company may forfeit the non-vested portion of the Participant's Nonqualified MiniMed Core Contribution Account under the same rules and subject to the same limitations as provided for the MiniMed Core Contribution Account under the Savings and Investment Plan. Notwithstanding the preceding sentence, a Participant shall not earn a fully-vested interest in his or her Nonqualified MiniMed Core Contribution Account as a result of the termination or partial termination of the Plan in those situations where the Participant is not otherwise fully vested in such Account.

**Section 7.5.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Payment of Nonqualified MiniMed Core Contribution Account</u>. Payment to a Participant of his or her Nonqualified MiniMed Core Contribution Account shall commence as soon as administratively practicable on the first business day of the seventh month following his or her Separation from Service. All distributions of the Nonqualified MiniMed Core Contribution Account will be paid in the form of cash. The Account principal as of the Participant's Separation from Service shall be paid to the Participant on a monthly basis over a 15-year period in 180 equal monthly installments. During the payout period, interest shall be credited on the declining balance based upon the applicable Interest Rate rather than pursuant to <u>Section 7.3</u>. If the value of the Participant's Nonqualified MiniMed Core Contribution Account, determined as soon as administratively feasible following the date on which the Participant's Separation from Service occurs, is $100,000 or less, the Account shall be paid to the Participant in a lump sum.

**ARTICLE 8**

**ARTICLES, DEATH BENEFITS**

**Section 8.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Form and Time of Payment</u>. If a Participant dies before all amounts in an Account have been distributed to him or her (whether the Participant's death occurs before or after distributions have commenced to the Participant), the Account balance, to the extent then vested, shall be paid to the Participant's Beneficiary in a lump sum within 90 days after the Participant's death; provided, however, that to the extent permitted under Section 409A, such payment may be made on any date prior to December 31 of the calendar year immediately following the calendar year the Participant's death occurs, with the exact payment date to be determined by the Committee in its discretion. The Committee may confer with the Participant's Beneficiary in determining the payment date, but retains the discretion to determine the payment date, except that, after a Change of Control, the Participant's Beneficiary may, to the extent permitted under Section 409A, determine a reasonable payment date within the above-stated parameters, and the Committee shall honor such determination.

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**Section 8.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Beneficiary</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Designation of Beneficiary</u>. Each Participant has the right to designate primary and contingent Beneficiaries for death benefits payable under the Plan. Such Beneficiaries may be individuals or trusts for the benefit of individuals. A Beneficiary designation by a Participant shall be in writing on a form acceptable to the Committee and shall only be effective upon delivery to the Company. A Beneficiary designation may be revoked by a Participant at any time by delivering to the Company either written notice of revocation or a new Beneficiary designation form. The Beneficiary designation form last delivered to the Company prior to the death of a Participant shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2.2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Failure to Designate Beneficiary</u>. In the event there is no Beneficiary designation on file with the Company at the Participant's death, or if all Beneficiaries designated by a Participant have predeceased the Participant, any benefits payable pursuant to this <u>Article 8</u> will be paid to the Participant's surviving spouse, if living; or if the Participant does not leave a surviving spouse, to the Participant's children, if any, in equal shares, except that if any of the children predecease the Participant but leave issue surviving the Participant, such issue shall take by right of representation, the share their parent would have taken if living; for purposes of this provision, "children" shall not include stepchildren unless such stepchildren have been legally adopted by the Participant; or, if there are no such surviving issue, to the Participant's estate.

**ARTICLE 9**

**CHANGE OF CONTROL PROVISIONS**

**Section 9.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Application of Article 9</u>. To the extent applicable, the provisions of this <u>Article 9</u> relating to a Change of Control of the Company shall control, notwithstanding any other provisions of the Plan to the contrary, and shall supersede any other provisions of the Plan to the extent inconsistent with the provisions of this <u>Article 8</u>.

**Section 9.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Legal Fees and Expenses</u>. The Company shall reimburse a Participant or his or her Beneficiary for all reasonable legal fees and expenses incurred by such Participant or Beneficiary after the date of a Change of Control in seeking to obtain any right or benefit provided by the Plan; provided however, that: (a) any such reimbursement shall be made during a period not to exceed 20 years following the date of the Change of Control; (b) the amount eligible for reimbursement during a taxable year of the Participant or Beneficiary shall not affect the amount eligible for reimbursement in any other taxable year; (c) the reimbursement is made on or before the last day of the Participant's or Beneficiary's taxable year following the taxable year in which the legal fees and expenses are incurred; and (d) the right to reimbursement is not subject to liquidation or exchange for another benefit.

**Section 9.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Late Payment and Additional Payment Provisions</u>. If, after the date of a Change of Control, the Company delays a payment required to be made under the Plan past the final date that the payment was due to be made, the amount of each such delayed payment shall be credited with interest at the rate of five percent per year, compounded quarterly, from the date on which the distribution was required to be made under the terms of the Plan until the actual

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date of the distribution. In the event that this interest is to be credited for some period less than a full calendar quarter, the interest shall be determined and compounded for the fractional quarter. This interest represents a late payment penalty for the delay in payment and is intended to supplement any other interest or gains credited to a Participant's Account under the Plan.

Any benefit payments made by the Company after the date on which a benefit distribution was required to be made under the terms of the Plan shall be applied first against the first due of such benefit distributions (with application first against any applicable late payment penalty and next against the benefit amount itself) until fully paid, and next against the next due of such payments in the same manner, and so forth, for purposes of calculating the late payment penalties hereunder.

In the event that payment of benefits has commenced to a Participant or Beneficiary prior to the date of a Change of Control, then the date on which distribution was required to be made under the terms of the Plan shall be determined with reference to the payment provision that was in effect prior to the date of the Change of Control. No adjustment may be made to any payment form which was in effect prior to the date of a Change of Control with respect to any Account which would have the effect of delaying payments otherwise to be made under the payment form or otherwise increasing the period of time over which payments are to be made.

**ARTICLE 10**

**FUNDING**

**Section 10.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Source of Benefits</u>. All benefits under the Plan shall be paid when due by the Company out of its assets. The Company may, but is not required to, establish a grantor trust to hold Plan assets (whether or not in combination with assets of another plan).

**Section 10.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>No Claim on Specific Assets</u>. No Participant shall be deemed to have, by virtue of being a Participant in the Plan, any claim on any specific assets of the Company such that the Participant would be subject to income taxation on his or her benefits under the Plan prior to distribution and the rights of Participants and Beneficiaries to benefits to which they are otherwise entitled under the Plan shall be those of an unsecured general creditor of the Company.

**ARTICLE 11**

**ADMINISTRATION**

**Section 11.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Administration</u>. The Plan shall be administered by the Committee. The Company shall bear all administrative costs of the Plan other than those specifically charged to a Participant or Beneficiary.

**Section 11.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Powers of Committee</u>. In addition to the other powers granted under the Plan, the Committee shall have all powers necessary to administer the Plan, including, without limitation, powers to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;interpret the provisions of the Plan;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;establish and revise the method of accounting for the Plan and to maintain the Accounts; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;establish rules for the administration of the Plan and to prescribe any forms required to administer the Plan.

**Section 11.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Actions of the Committee</u>. Except as modified by the Board, the Committee (including any person or entity to whom the Committee has delegated duties, responsibilities or authority, to the extent of such delegation) has total and complete discretionary authority to determine conclusively for all parties all questions arising in the administration of the Plan, to interpret and construe the terms of the Plan, and to determine all questions of eligibility and status of employees, Participants and Beneficiaries under the Plan and their respective interests. Subject to the claims procedures of <u>Section 11.6</u>, all determinations, interpretations, rules and decisions of the Committee (including those made or established by any person or entity to whom the Committee has delegated duties, responsibilities or authority, if made or established pursuant to such delegation) are conclusive and binding upon all persons having or claiming to have any interest or right under the Plan.

**Section 11.4.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Delegation</u>. The Committee, or any officer designated by the Committee, shall have the power to delegate specific duties and responsibilities to officers or other employees of the Company or other individuals or entities. Any delegation may be rescinded by the Committee at any time. Each person or entity to which a duty or responsibility has been delegated shall be responsible for the exercise of such duty or responsibility and shall not be responsible for any act or failure to act of any other person or entity.

**Section 11.5.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Reports and Records</u>. The Committee, and those to whom the Committee has delegated duties under the Plan, shall keep records of all their proceedings and actions and shall maintain books of account, records, and other data as shall be necessary for the proper administration of the Plan and for compliance with applicable law.

**Section 11.6.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Claims Procedure</u>. The Committee shall notify a Participant in writing within a reasonable period of time, not to exceed ninety (90) days, following the Plan's receipt of the Participant's written claim for benefits, of the Participant's eligibility or noneligibility (i) for benefits under the Plan or, (ii) if the claim is for different or greater benefits, for the benefits claimed by the Participant. If the Committee determines that a Participant is not eligible for benefits or for the benefits claimed, the notice shall set forth: (a) the specific reasons for the adverse determination; (b) a reference to the specific provisions of the Plan on which the determination is based; (c) a description of any additional information or material necessary for the claimant to perfect the claim and an explanation of why it is needed; and (d) a description of the Plan's claims review procedure and the time limits applicable to such procedures, including a statement of the Participant's right to bring a civil action under Section 502(a) of ERISA, following an adverse benefit determination on review. If the Committee determines that there are special circumstances requiring additional time to make a decision, the Committee shall notify the Participant of the special circumstances and the date by which a decision is expected to be made, and may extend the time for up to an additional ninety (90) day period.

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The Participant shall have the opportunity to have a full and fair review of the claim and the adverse benefit determination by the Committee. The Participant must exercise this opportunity by filing a petition for review with the Committee within sixty (60) days after receipt by the Participant of the notice issued by the Committee. Said petition may state the specific reasons the Participant believes the Participant is entitled to benefits or greater or different benefits and may be accompanied by written comments, documents, records and other information relating to the claim for benefits. The Participant or the Participant's representative shall be permitted, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the claim for benefits. Whether information is "relevant" shall be determined by the Committee taking into account guidance from the Department of Labor. If a Participant does not appeal within the Plan's required time period, the Participant will lose the right to appeal and the Participant will have failed to exhaust the Plan's internal administrative appeal process.

Within a reasonable period of time, not to exceed sixty (60) days, following receipt by the Committee of said petition, the Committee shall review the petition, taking into account all comments, document, records and other information submitted by the Participant relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination. If the Committee's determination is adverse to the Participant, the Committee shall notify the Participant of its decision in writing, setting forth: (a) the specific reasons for the adverse determination; (b) a reference to the specific provisions of the Plan on which the determination is based; (c) a statement that the Participant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the claim for benefits; and (d) a statement of the Participant's right to bring a civil action under Section 502(a) of ERISA. If the sixty (60) day period is not sufficient, the Committee shall notify the Participant of the special circumstances that cause sixty (60) days to be insufficient and the date by which a decision is expected to be made, and may extend the time for up to an additional sixty (60) day period.

In the event of the death of a Participant, the same procedure shall be applicable to the Participant's Beneficiaries.

**Section 11.7.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Additional Claims Procedure Requirements</u>. The following provisions apply to all claims under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;The Plan shall comply with applicable Department of Labor regulations regarding the manner in which claims shall be processed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;To be considered timely under the Plan's claims procedures, a claim must be filed under <u>Section 11.6</u> within one year after the claimant knew or reasonably should have known of the principal facts upon which the claim is based. Knowledge of all facts that the Participant knew or reasonably should have known shall be imputed to every claimant who is or claims to be a Beneficiary of the Participant or otherwise claims to derive an entitlement by reference to the Participant for the purpose of applying the previously specified periods.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;The exhaustion of the claims procedures is mandatory for resolving every claim and dispute arising under this Plan. As to such claims and disputes: (i) no claimant shall be permitted to commence any legal action to recover Plan benefits or to enforce or clarify rights under the Plan under Section 502 or Section 510 of ERISA or under any other provision of law, whether or not statutory, until the claims procedures have been exhausted in their entirety; and (ii) in any such legal action all explicit and all implicit determinations by the Committee and any other person or entity (including, but not limited to, determinations as to whether the claim, or a request for a review of a denied claim, was timely filed) shall be afforded the maximum deference permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;No legal action to recover Plan benefits or to enforce or clarify rights under the Plan under Section 502 or Section 510 of ERISA or under any other provision of law, whether or not statutory, may be brought by any claimant on any matter pertaining to this Plan unless the legal action is commenced in the proper forum before the earlier of: (i) thirty (30) months after the claimant knew or reasonably should have known of the principal facts on which the claim is based, or (ii) twelve (12) months after the claimant has exhausted the claims procedure under this Plan. Knowledge of all facts that the Participant knew or reasonably should have known shall be imputed to every claimant who is or claims to be a Beneficiary of the Participant or otherwise claims to derive an entitlement by reference to the Participant for the purpose of applying the previously specified periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;The exclusive venue for any legal action arising out of or relating to this Plan, including, but not limited to, actions under Section 502 or 510 of ERISA, is a state or federal court in California.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;The Committee and all persons determining or reviewing claims have full discretion to determine benefit claims under the Plan. Any interpretation, determination or other action of such persons will be overturned only if it is arbitrary or capricious or otherwise an abuse of discretion. Any review of a final decision or action of the persons reviewing a claim shall be based only on such evidence presented to or considered by such persons at the time they made the decision that is the subject of review.

**ARTICLE 12**

**AMENDMENTS AND TERMINATION**

**Section 12.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Amendments</u>. The Company, by action of the Compensation Committee of the Board, or the Chief Executive Officer of the Company or the Chief Human Resources Officer, to the extent authorized by the Compensation Committee of the Board, may amend the Plan, in whole or in part, at any time and from time to time. Any such amendment shall be filed with the Plan documents. No amendment, however, may be effective to reduce the vested amounts credited to a Participant's Account (or that would be so credited with respect to a

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Participant who is actively employed immediately prior to the date of amendment had the Participant had a Separation from Service and had his or her Account been established immediately prior to such date), as determined immediately prior to such amendment, except that the Company may change the investment funds or funds that it may make available for crediting gains and losses pursuant to <u>Section 6.4</u> or <u>Section 7.3</u> at any time in its discretion.

**Section 12.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Termination</u>. The Company reserves the right to terminate the Plan at any time by action of the Compensation Committee of the Board. Upon termination of the Plan, all accruals and contributions shall immediately cease. Termination of the Plan shall not be effective to reduce the vested amounts credited to a Participant's Account (or that would be so credited with respect to a Participant who is actively employed immediately prior to the date of such termination had the Participant had a Separation from Service and had his or her Account been established immediately prior to such date). If the Plan is terminated, payments from the Accounts of all Participants and Beneficiaries shall be made at the time and in the manner otherwise specified in the Plan, except as otherwise determined by the Company at the time of termination, subject to <u>Article 9</u> and the requirements of Section 409A.

**ARTICLE 13**

**MISCELLANEOUS**

**Section 13.1.&nbsp;&nbsp;&nbsp;&nbsp;**<u>No Guarantee of Employment</u>. Neither the adoption nor the maintenance of the Plan shall be deemed to be a contract of employment between any Affiliate and any Participant. Nothing contained herein shall give any Participant the right to be retained in the employ of an Affiliate or to perform services for an Affiliate, or to interfere with the right of an Affiliate to discharge any Participant at any time; nor shall it give an Affiliate the right to require any Participant to remain in its employ or to perform services for it or to interfere with the Participant's right to terminate his or her employment or performance of services at any time.

**Section 13.2.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Release</u>. Any payment of benefits to or for the benefit of a Participant or a Participant's Beneficiary that is made in good faith by the Company in accordance with the Company's interpretation of its obligations under the Plan shall be in full satisfaction of all claims against the Company for benefits under the Plan to the extent of such payment.

**Section 13.3.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Notices</u>. Any notice permitted or required under the Plan shall be in writing and shall be hand-delivered or sent, postage prepaid, by first class mail, or by certified or registered mail with return receipt requested, to the principal office of the Company, if to the Company, or to the address last shown on the records of the Company, if to a Participant or Beneficiary. Any such notice shall be effective as of the date of hand-delivery or mailing.

**Section 13.4.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Nonalienation</u>. No benefit payable at any time under the Plan shall be subject in any manner to alienation, sale, transfer, assignment, pledge, levy, attachment, or encumbrance of any kind by any Participant or Beneficiary, except with respect to a Domestic Relations Order.

**Section 13.5.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Withholding</u>. The Company may withhold from any payment of benefits or other compensation payable to a Participant or Beneficiary such amounts as the Company

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determines are reasonably necessary to pay any taxes or other amounts required to be withheld under applicable law.

**Section 13.6.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Captions</u>. Article and section headings and captions are provided for purposes of reference and convenience only and shall not be relied upon in any way to construe, define, modify, limit, or extend the scope of any provision of the Plan.

**Section 13.7.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Applicable Law</u>. The Plan and all rights hereunder shall be governed by and construed according to the laws of the State of California, except to the extent such laws are preempted by the laws of the United States of America.

**Section 13.8.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Invalidity of Certain Provisions</u>. If any provision of the Plan is held invalid or unenforceable, such invalidity or unenforceability shall not affect any other provision of the Plan and the Plan shall be construed and enforced as if such provision had not been included. The Plan is intended to comply in form and operation with Section 409A, and shall be construed accordingly.

**Section 13.9.&nbsp;&nbsp;&nbsp;&nbsp;**<u>No Other Agreements</u>. The terms and conditions set forth herein constitute the entire understanding of the Company and the Participants with respect to the matters addressed herein.

**Section 13.10.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Incapacity</u>. In the event that any Participant is unable to care for his or her affairs because of illness or accident, any payment due may be paid to the Participant's spouse, parent, adult child, brother, sister or other person deemed by the Committee to have incurred expenses for the care of such Participant, unless a duly qualified guardian or other legal representative has been appointed.

**Section 13.11.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Electronic Media</u>. Notwithstanding anything in the Plan to the contrary, but subject to any applicable requirements of ERISA, the Code, or other law, any action or communication otherwise required to be taken or made in writing by a Participant or Beneficiary or by the Company or Committee shall be effective if accomplished by another method or methods required or made available by the Company or Committee, or their agent, with respect to that action or communication, including e-mail, telephone response systems, intranet systems, or the Internet.

**Section 13.12.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Delay of Distributions Upon Certain Events</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in <u>Section 13.13</u>, if a Participant is a Specified Employee as of the date of his or her Separation from Service, any distributions that under the terms of the Plan are to commence to the Participant on his or her Separation from Service ("separation distributions") shall commence on the Participant's "delayed distribution date" (as defined below). In this case, the Company shall, in its discretion, determine (i) whether the first separation distribution to the Participant shall include the aggregate amount of any separation distributions that, but for this paragraph (a), would have been paid to the Participant from the date of his or her Separation from Service until the delayed

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distribution date, or (ii) whether each separation distribution shall be delayed for six months. The Company's discretion must be exercised without any direct or indirect election by the Participant as to whether payment method (i) or (ii) in the foregoing sentence shall be selected. For purposes of this paragraph (a), a Specified Employee's "delayed distribution date" is the first day of the seventh month following the Participant's Separation from Service, or if earlier, the date of the Participant's death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;A payment under the Plan may be delayed by the Company under any of the following circumstances so long as all payments to similarly situated Participants are treated on a reasonably consistent basis:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;The Company reasonably anticipates that if such payment were made as scheduled, the Company's deduction with respect to such payment would not be permitted under Section 162(m) of the Code, provided that the payment is made either during the first calendar year in which the Company reasonably anticipates, or should reasonably anticipate, that if the payment is made during such year, the deduction of such payment will not be barred by application of Section 162(m) or during the period beginning with the date of the Participant's Separation from Service and ending on the later of the last day of the Company's fiscal year in which the Participant has a Separation from Service or the 15th day of the third month following the Separation from Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;The Company reasonably anticipates that the making of the payment will violate Federal securities laws or other applicable law, provided that the payment is made at the earliest date at which the Company reasonably anticipates that the making of the payment will not cause such violation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;Upon such other events as determined by the Company and according to such terms as are consistent with Section 409A or are prescribed by the Commissioner of Internal Revenue.

**Section 13.13.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Acceleration of Distributions Upon Certain Events</u>. The Company may, in its discretion, distribute all or a portion of a Participant's Accounts at an earlier time and in a different form than otherwise specified in the Plan under the circumstances described below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;As may be necessary to fulfill a Domestic Relations Order. Distributions pursuant to a Domestic Relations Order shall be made according to administrative procedures established by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;To the extent reasonably necessary to avoid the violation of ethics laws or conflict of interest laws to the extent permitted under Section 409A.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;To pay FICA on amounts deferred under the Plan and the income tax resulting from such payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;To pay the amount required to be included in income as a result of the Plan's failure to comply with Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;If the Company determines, in its discretion, that it is advisable to liquidate the Plan in connection with a termination of the Plan pursuant to <u>Section 12.2</u>, subject to <u>Article 9</u>, <u>Section 8.2</u> and the requirements of Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;As satisfaction of a debt of the Participant to an Affiliate, where such debt is incurred in the ordinary course of the service relationship between the Affiliate and the Participant, the entire amount of the reduction in any calendar year does not exceed $5,000, and the reduction is made at the same time and in the same amount as the debt otherwise would have been due and collected from the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;As satisfaction of a debt to the extent reasonably necessary to comply with federal law regarding debt collection, but only to the extent permissible under Section 409A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;To pay state, local or foreign tax obligations that may arise with respect to amounts deferred under the Plan and the income tax resulting from such payment.

Notwithstanding anything in this <u>Section 13.13</u> to the contrary, the Company shall not provide the Participant with discretion or a direct or indirect election regarding whether a payment is accelerated pursuant to this <u>Section 13.13</u>.

**Section 13.14.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Small Account Balances</u>. If at any time the present value of any benefit under the Plan that would be considered a "single plan" under Treasury Regulation Section 1.409A-l(c)(2), together with the present value of any benefit required to be aggregated with such benefit under Treasury Regulation Section 1.409A-l(c)(2), is less than the dollar limit set forth in Section 402(g) of the Code, the Company may, in its discretion, distribute such benefit (or benefits) to the Participant in the form of a lump sum, provided that the payment results in the liquidation of the entirety of the Participant's interest under the "single plan," including all benefits required to be aggregated as part of the "single plan" under Treasury Regulation Section 1.409A-1(c)(2).

**Section 13.15.&nbsp;&nbsp;&nbsp;&nbsp;**<u>When a Plan Payment is Deemed to be Made</u>. Any payment that is due to be distributed as of a particular date pursuant to the provisions of the Plan, will be deemed to be distributed as of that date if it is distributed on such date or a later date within the same calendar year, or, if later, by the 15th day of the third calendar month following the date, and the Participant is not permitted, directly or indirectly, to designate the calendar year of payment. Further, a payment will be treated as made on a date if it is made no earlier than 30 days before the date, and the Participant is not permitted, directly or indirectly, to designate the calendar year

------

of payment. For purposes of the foregoing, if the payment is required to be made during a period of time, the specified date is treated as the first day of the period of time.

**Section 13.16.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Restricted Period</u>. During any Restricted Period, no assets shall be set aside, transferred, or otherwise restricted in a way that would result in such assets being treated, for the purposes of Section 83 of the Code, as property transferred in connection with the performance of services by reason of Section 409A(b)(3) of the Code with respect to an Applicable Covered Employee.

For purposes of this Section, "<u>Restricted Period</u>" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;any period during which any defined benefit plan to which Section 412(a) of the Code applies ("<u>Defined Benefit Plan</u>") of an Affiliate is in at-risk status, as defined in Section 430(i) of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;any period the Company is a debtor in a case under title 11, United States Code, or similar federal or state law; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;the twelve (12)-month period beginning on the date which is six months before the termination date of a Defined Benefit Plan if, as of the termination date, the Defined Benefit Plan is not sufficient for benefit liabilities, within the meaning of Section 4041 of ERISA.

For purposes of this Section, "<u>Applicable Covered Employee</u>" means any:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;covered employee of an Affiliate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;former employee who was covered at the time of termination of employment with an Affiliate.

For purposes of this Section, "<u>Covered Employee</u>" means an individual who is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;an individual described in Section 162(a)(3) of the Code; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;subject to the requirements of Section 16(a) of the Securities Exchange Act.

**Section 13.17.&nbsp;&nbsp;&nbsp;&nbsp;**<u>Consistency with EMA and Section 409A</u>. The provisions of this Agreement, including <u>Article 5</u> and <u>Article 6</u> hereof, are intended to implement the treatment of the Medtronic NRPS Plan benefits held SplitCo Participants as contemplated by the EMA, and to comply with the requirements of Section 409A. The Committee shall interpret and administer this Agreement in a manner consistent with the EMA and Section 409A, and no provision of this Agreement shall be applied in a manner that would constitute an impermissible acceleration or delay of any amount subject to Section 409A.

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**SCHEDULE A**

Manner of Crediting Gains and Losses to Personal Investment Account

and MiniMed Core Contribution Account

Pursuant to <u>Section 6.4</u> and <u>Section 7.3</u>, respectively

## Exhibit 99.1

**Exhibit 99.1**

![mmedlogo.jpg](mmedlogo.jpg)

NEWS RELEASE

MiniMed announces closing of Initial Public Offering

**NORTHRIDGE, CA, March 9, 2026** – MiniMed Group, Inc. (MiniMed; Nasdaq: MMED) today announced the closing of its previously announced initial public offering (IPO) of 28,000,000 shares of its common stock at a price to the public of $20.00 per share. The shares began trading on the Nasdaq Global Select Market (Nasdaq) on March 6, 2026 under the symbol "MMED."

As of the closing of the IPO, Medtronic plc (Medtronic) owns approximately 90.03% of MiniMed common stock. Medtronic has previously stated that its preferred path to complete the separation is a split-off.

After deducting underwriting discounts and commissions and estimated offering expenses payable by MiniMed, the net proceeds to MiniMed were approximately $538 million. MiniMed intends to use a portion of the net proceeds for general corporate purposes. The remainder have been used to repay intercompany debt owed to Medtronic.

Goldman Sachs & Co. LLC, BofA Securities, Citigroup and Morgan Stanley acted as the active bookrunners for the offering. Barclays, Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Evercore ISI and Piper Sandler also acted as joint book running managers and BTIG and William Blair & Company, L.L.C. acted as co-managers. The offering was made only by means of a prospectus. Copies of the prospectus relating to the IPO may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at +1-866-471-2526, by facsimile at +1-212-902-9316 or by email at prospectus-ny@ny.email.gs.com; BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus Department, by email at dg.prospectus_requests@bofa.com; Citigroup, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, telephone at +1-800-831-9146; and Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by email at prospectus@morganstanley.com.

A registration statement on Form S-1 relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (SEC). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;

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**About MiniMed**

MiniMed is a global leader in insulin delivery, constantly advancing therapies that support people with diabetes in 80 countries. Our full-stack, integrated ecosystem, including our insulin delivery systems, CGMs, algorithms, and easy-to-use app experience, is designed to work seamlessly together, supported by white-glove, wrap-around service. For over 40 years, we've pioneered therapies people can rely on by anticipating needs, reducing burden, and helping make life with diabetes easier. Our mission is to make every day a better day for people with diabetes.

**Cautions Regarding Forward-Looking Statements** 

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties, including risks related to the offering and the use of proceeds therefrom. There are significant risks and uncertainties relating to the IPO. Important factors that could cause actual results to differ materially from management's expectations include, without limitation: capital market risks and the impact of general economic or industry conditions. There can be no guarantees that MiniMed will achieve the anticipated benefits of the IPO. The ability of MiniMed or Medtronic to achieve the anticipated benefits of the IPO may be materially affected by such factors as changes to the business, results of operations or financial condition of MiniMed or Medtronic, changes in the medical products industry, adverse market or macroeconomic conditions and other factors outside the control of MiniMed or Medtronic. For additional information about the factors that affect Medtronic's and MiniMed's businesses, please see their respective filings with the SEC. Each of Medtronic and MiniMed does not undertake to update its forward-looking statements or any of the information contained in this press release, including to reflect future events or circumstances.

**MiniMed Contacts**

Janet Cho

Public Relations

+1-818-403-7028

Ryan Weispfenning

Investor Relations

+1-763-505-4626

**Medtronic Contacts**

Justin Paquette

Public Relations

+1-612-271-7935

Ingrid Goldberg

Investor Relations

+1-763-505-2696

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