Document:

Voting Agreement

 Exhibit 10.5 
 VOTING AGREEMENT 
 This VOTING AGREEMENT, dated as of November 11, 2012
(this “Voting Agreement”), is entered into by and between Jefferies Group, Inc., a Delaware corporation (“Jefferies”), and Mr. Brian P. Friedman (the “Stockholder”). 

RECITALS 

WHEREAS, Jefferies, Jasper Merger Sub, Inc., a Delaware corporation (“Merger Sub One”), and JSP Holdings, Inc., a
Delaware corporation (“New Jefferies”), are, concurrently with the execution and delivery of this Support Agreement, entering into an Agreement and Plan of Merger (the “First Merger Agreement”), pursuant to which
Merger Sub One has agreed to merge with and into Jefferies (the “First Merger”) on the terms and subject to the conditions set forth therein; 
 WHEREAS, Jefferies, Merger Sub One, New Jefferies, Leucadia National Corporation, a New York corporation (“Leucadia”) and Limestone Merger Sub, LLC, a Delaware limited liability company
(“Merger Sub Two”), are, concurrently with the execution and delivery of this Voting Agreement, entering into an Agreement and Plan of Merger (the “Second Merger Agreement”), pursuant to which New Jefferies has
agreed to merge with and into Merger Sub Two (the “Second Merger”) on the terms and subject to the conditions set forth therein; 
 WHEREAS, as of the date hereof, the Stockholder is the record or “beneficial owner” (as defined under Rule 13d-3 of the Exchange Act) of 2,866,750 Common Shares (the “Existing
Shares” and, together with any Common Shares and options, warrants and other rights or Awards to purchase Common Shares or other voting capital stock or securities of Jefferies and any other securities convertible into or exercisable or
exchangeable for Common Shares or other voting capital stock or securities of Jefferies acquired, whether of record or beneficially, by the Stockholder after the date hereof, the “Shares”); 

WHEREAS, as a condition and inducement to the willingness of Jefferies to enter into the First Merger Agreement and the Second Merger
Agreement, the Stockholder has agreed to enter into this Voting Agreement; and 
 WHEREAS, capitalized terms used but not
defined herein have the respective meanings ascribed thereto in the Second Merger Agreement. 
 NOW, THEREFORE, in consideration
of the foregoing and the representations, warranties, covenants and agreements contained herein, and intending to be legally bound hereby, Jefferies and the Stockholder hereby agree as follows: 

ARTICLE I 
 VOTING

 1.1 Agreement to Vote. 
 (a) The Stockholder hereby irrevocably agrees, from and after the date hereof and until the date on which this Voting Agreement is terminated pursuant to Section 5.1 hereof, at any meeting of the
stockholders of Jefferies (the “Company Stockholders”), however called, at 

 
any adjournment thereof, and in connection with any written consent of Jefferies Stockholders, to cause all of the Shares to be voted in favor of (i) the First Merger, (ii) the
Jefferies Stockholder Approval Matters, (iii) each of the other actions contemplated by the First Merger Agreement and (iv) any action in furtherance of the transactions contemplated by the First Merger Agreement and the Second Merger
Agreement. 
 (b) This Voting Agreement is entered into by the Stockholder in his capacity as owner of the Shares and nothing in
this Voting Agreement shall limit or restrict the Stockholder, or any Affiliate or designee of the Stockholder, who serves as a member of the Board of Directors of Jefferies in acting in his or her capacity as a director of Jefferies and exercising
his or her fiduciary duties and responsibilities. 
 1.2 No Inconsistent Agreements. The Stockholder hereby represents,
warrants, covenants and agrees that, except for this Voting Agreement, he (a) has not entered into, and shall not enter into at any time while this Voting Agreement remains in effect, any voting agreement or voting trust with respect to the
Shares, (b) has not granted, and shall not grant at any time while this Voting Agreement remains in effect, a proxy, a consent or power of attorney with respect to the Shares and (c) has not entered into any agreement or knowingly taken
any action (and shall not enter into any agreement or knowingly take any action) that would make any representation or warranty of the Stockholder contained herein untrue or incorrect in any material respect or have the effect of preventing the
Stockholder from performing any of his obligations under this Voting Agreement. 
  
 1.3 Proxy 
 (a) The Stockholder hereby grants to Jefferies (and any
designee of Jefferies) a proxy (and appoints Jefferies or any such designee of Jefferies as its attorney in fact) to vote the Shares in the manner indicated in Section 1.1 (which proxy and appointment shall be limited solely to the matters set
forth in Section 1.1). This proxy and appointment (i) is irrevocable, (ii) is coupled with an interest and (iii) constitutes, among other things, an inducement for Jefferies to enter into the First Merger Agreement and the Second
Merger Agreement. This proxy and appointment shall continue in force until it expires, automatically and without further action by the parties, upon termination of this Voting Agreement. This proxy and appointment will survive the death or other
incapacity of the Stockholder. The Stockholder shall, at Jefferies’ expense, take such further action or execute such other instruments as may be reasonably requested by Jefferies to carry out and effectuate the intent of this Voting Agreement
and this proxy and appointment. 
 (b) The Stockholder hereby revokes any and all prior proxies or powers of attorney given by
the Stockholder with respect to the voting of the Shares inconsistent with the terms of this Voting Agreement. 

  
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 ARTICLE II 
 REPRESENTATIONS AND WARRANTIES OF THE STOCKHOLDER 
 The Stockholder hereby represents and warrants
to Jefferies as follows: 
 2.1 Authorization of the Stockholder; Validity of Agreement. 

(a) The Stockholder has the full right, requisite legal capacity, power and authority to enter into this Voting Agreement and to perform
his obligations under this Voting Agreement. 
 (b) This Voting Agreement has been duly and validly executed and delivered by it
and the Stockholder and, assuming due and valid authorization, execution and delivery hereof by Jefferies, constitutes the legal, valid and binding obligation of it enforceable against it in accordance with its terms, except that (i) such
enforcement may be subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar Laws, now or hereafter in effect, relating to creditors’ rights generally and (ii) equitable remedies of specific performance and
injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding therefor may be brought. 
 2.2 Ownership. On the date hereof, the Stockholder holds of record and own beneficially all of the Existing Shares free and clear of all Liens, subscriptions, options, warrants, calls, proxies,
commitments, restrictions and Contracts of any kind other than pursuant to applicable securities Laws and the terms of this Voting Agreement. As of the date hereof, the Existing Shares represent all of the capital stock of Jefferies owned of record
or beneficially by the Stockholder and, other than the Existing Shares, the Stockholder does not directly or indirectly hold or exercise control over any options, warrants or other rights or Awards to purchase Common Shares or other voting capital
stock or securities of Jefferies or any other securities convertible into or exercisable or exchangeable for Common Shares or other voting capital stock or securities of Jefferies. The Existing Shares and any additional Common Shares,
options, warrants and other rights or Awards to purchase Common Shares or other voting capital stock or securities of Jefferies and any other securities convertible into or exercisable or exchangeable for Common Shares or other voting capital stock
or securities of Jefferies acquired by the Stockholder after the date hereof and prior to the Second Effective Time will be, owned beneficially or of record by the Stockholder, free and clear of any Liens, subscriptions, options, warrants, calls,
proxies, commitments, restrictions and Contracts of any kind other than pursuant to applicable securities Laws and the terms of this Voting Agreement. The Stockholder has and (except as otherwise expressly provided by this Voting Agreement) will
have at all times through the Effective Time sufficient rights and powers over the voting and disposition with respect to the matters set forth in Article I, and to agree to all of the matters set forth in this Voting Agreement, in each case with
respect to all of the Shares, with no other limitations, qualifications or restrictions on such rights, in each case, subject to applicable securities Laws and the terms of this Voting Agreement. All of the Shares are, as of the date hereof, held
directly by the Stockholder. 
 2.3 Noncontravention. No authorization, consent, permit, action or approval of, or filing
with, or notification to, any Governmental Entity is necessary, under applicable Law, for the consummation by the Stockholder of the transactions contemplated by this Voting Agreement other than (i) any filings required under applicable Laws or
(ii) as would not reasonably be expected to, individually or in the aggregate, prevent or materially delay the performance of the Stockholder of his obligations under this Voting Agreement. The execution and delivery by the Stockholder of this
Voting Agreement does not, and the consummation of the transactions contemplated hereby and compliance with the provisions of this Voting Agreement will not (a) result in any violation of, or default (with or without notice or lapse of time, or
both) 

  
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under, or give rise to a right of termination, amendment, cancellation or acceleration of any obligation or to the loss of a benefit under, any Contract to which the Stockholder is a party or is
subject, (b) conflict with or violate any Laws applicable to the Stockholder, other than violations that would not reasonably be expected to, individually or in the aggregate, prevent or materially delay the performance of the Stockholder of
his obligations under this Voting Agreement. 
 2.4 Reliance. The Stockholder understands and acknowledges that Jefferies
is entering into the First Merger Agreement and Second Merger Agreement in reliance upon the Stockholder’s execution and delivery of this Voting Agreement. 
 2.5 Accuracy of Representations and Warranties. The representations and warranties of the Stockholder contained in this Voting Agreement are accurate and complete in all material respects as of the
date of this Voting Agreement, and will be accurate in all material respects at all times through and including the Support Termination Date (as defined below). 
 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES OF JEFFERIES 

Jefferies hereby represents and warrants to the Stockholder as follows: 
 3.1 Organization; Authorization; Validity of Agreement. Jefferies is a Delaware corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. Jefferies
has the right and all requisite corporate power and authority to execute and deliver this Voting Agreement and to perform its obligations under this Voting Agreement. The person executing this Voting Agreement on behalf of Jefferies has full power
and authority to execute and deliver this Voting Agreement on behalf of Jefferies and to thereby bind Jefferies. This Voting Agreement has been duly and validly executed and delivered by Jefferies and, assuming due and valid authorization, execution
and delivery hereof by the Stockholder, constitutes the legal, valid and binding obligation of Jefferies enforceable against Jefferies in accordance with its terms except that (i) such enforcement may be subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other similar Laws, now or hereafter in effect, relating to creditors’ rights generally and (ii) equitable remedies of specific performance and injunctive and other forms of equitable relief may be
subject to equitable defenses and to the discretion of the court before which any proceeding therefor may be brought. 
 3.2
Accuracy of Representations and Warranties. The representations and warranties of Jefferies contained in this Voting Agreement are accurate and complete in all material respects as of the date of this Voting Agreement, and will be accurate in
all material respects at all times through and including the Support Termination Date (as defined below). 
 ARTICLE IV

 OTHER COVENANTS 
 4.1 Stock Dividends, etc. 
 (a) In case of a stock dividend or
distribution, or any change in Common Shares by reason of any stock dividend or distribution, split-up, recapitalization, combination, exchange of shares or the like, for all purposes under this Voting Agreement, the term “Shares”

  
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shall be deemed to refer to and include the Shares as well as all such stock dividends and distributions and any securities into which or for which any or all of the Shares may be changed or
exchanged or that are received in such transaction. 
 (b) The Stockholder shall, while this Voting Agreement is in effect,
notify Jefferies and Leucadia (in accordance with the notice instructions for Leucadia set forth in the Second Merger Agreement) promptly in writing of the number of any additional Common Shares, any additional options, warrants or rights or other
Awards to purchase Common Shares or other voting capital stock of Jefferies and any other securities convertible into or exercisable or exchangeable for Common Shares or other voting capital stock or securities of Jefferies acquired (beneficially or
of record) by such Person, if any, after the date hereof. 
 4.2 Transfers. While this Voting Agreement is in effect and
except as expressly contemplated hereby, the Stockholder shall not directly or indirectly (a) grant any proxies or enter into any voting agreement, voting trust or other agreement or arrangement with respect to the voting of any Shares,
(b) sell, transfer, pledge, encumber, assign, distribute, gift or otherwise dispose of (including by merger or otherwise by operation of law) (collectively, a “Transfer”) or (c) enter into any contract, option or other
arrangement or understanding with respect to any Transfer (whether by actual disposition or effective economic disposition due to hedging, cash settlement or otherwise) of, any of the Shares or any interest therein. The Stockholder shall not, seek
or solicit any such Transfer or any such contract, option or other arrangement or understanding with respect to any Transfer, and shall promptly notify (and provide information requested by) Jefferies, if it is approached or solicited, directly or
indirectly, by any Person with respect to any of the foregoing. 
 4.3 Adverse Actions. While this Agreement is in
effect, the Stockholder shall not: (a) take, agree or commit to take any action that would reasonably be expected to make any representation and warranty of the Stockholder contained in this Voting Agreement inaccurate in any material respect
as of any time during the term of this Voting Agreement, (b) fail to take all reasonable action necessary to prevent any such representation or warranty from being inaccurate in any material respect at any such time or (c) take any action
that would prevent, materially delay, or would reasonably be expected to delay in any material respect the transactions contemplated by either the First Merger Agreement or the Second Merger Agreement. 

4.4 Dissenter and Appraisal Rights. The Stockholder hereby irrevocably and unconditionally waives, and agrees to cause to be
waived and to prevent the exercise of, any rights of appraisal, any dissenter’s rights and any similar rights relating to the First Merger, the Second Merger or any related transaction that the Stockholder may have by virtue of, or with respect
to, the Shares. 
 ARTICLE V 
 MISCELLANEOUS 
 5.1 Termination. This Voting Agreement shall terminate
automatically, without any action on the part of any party hereto, upon the earliest to occur of (a) the date on which the Second Merger becomes effective, (b) the date on which the Second Merger Agreement is validly terminated and
(c) the date on which the parties agree in writing to terminate this Voting Agreement. The date per the preceding sentence is hereinafter referred to as the “Support Termination Date”. 

  
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 5.2 Further Assurances. From time to time, at the other party’s request and
without further consideration, each party shall execute and deliver such additional documents and take all such further action as may be reasonably necessary or desirable to consummate the transactions contemplated by this Voting Agreement.

 5.3 No Ownership Interest. Nothing contained in this Voting Agreement shall be deemed to vest in Jefferies any direct
or indirect ownership or incidence of ownership of or with respect to any Shares. All rights, ownership and economic benefits of and relating to the Shares shall remain vested in and belong to the Stockholder, and Jefferies shall have no authority
to exercise any power or authority to direct the Stockholder in the voting of any of the Shares, except as otherwise provided herein. 
 5.4 Non-Survival of Representations, Warranties and Agreements. None of the representations, warranties, covenants and other agreements in this Voting Agreement will survive the termination of this
Voting Agreement pursuant to Section 5.1; provided, however, that notwithstanding the foregoing, the parties hereto acknowledge and agree that Jefferies shall be entitled to exercise all rights and remedies with respect to any
breach prior to and including the Support Termination Date of the representations, warranties, covenants and agreements made by the Stockholder, which breach (and all of the available remedies with respect thereto) shall expressly survive the
Support Termination Date. 
 5.5 Expenses. All costs and expenses incurred in connection with this Voting Agreement and
the transactions contemplated hereby will be paid by the party incurring such costs and expenses; provided, however, that in any Action to enforce this Voting Agreement or the rights of Jefferies hereunder, the prevailing party in such
Action shall be entitled to receive its reasonably attorney’s fees and all other reasonable costs and expenses incurred in such Action. 
 5.6 Notices. Any notice required to be given hereunder shall be sufficient if in writing, and sent by facsimile transmission (provided that any notice received by facsimile transmission or
otherwise at the addressee’s location on any Business Day after 5:00 p.m. (addressee’s local time) shall be deemed to have been received at 9:00 a.m. (addressee’s local time) on the next Business Day), by reliable overnight delivery
service (with proof of service), hand delivery or certified or registered mail (return receipt requested and first-class postage prepaid), addressed as follows: 
  

	 	(a)	To the Stockholder 

					
		
		  	c/o Jefferies Group, Inc.
		  	520 Madison Avenue
		  	New York, NY 10022
		  	Facsimile:	  	(646) 786-5900
		  	Attention:	  	Brian P. Friedman

  
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	 	(b)	To Jefferies: 

					
		
		  	520 Madison Avenue
		  	New York, NY 10022
		  	Facsimile:	  	(646) 786-5900
		  	Attention:	  	General Counsel

 with a copy to: 

					
		
		  	Morgan, Lewis & Bockius LLP
		  	101 Park Avenue
		  	New York, NY 10178
		  	Facsimile:	  	(212) 309-6001
		  	Attention:	  	R. Alec Dawson
		  		  	Robert G. Robison
		  		  	Sheryl L. Orr

 and: 
  

					
		  	Wachtell, Lipton, Rosen & Katz
		  	51 West 52nd Street
		  	New York, NY 10019
		  	Facsimile:	  	(212) 403-2314
		  	Attention:	  	Edward D. Herlihy
		  		  	David E. Shapiro

 or to such other address as any party shall specify by written notice so given, and such notice shall be deemed to have
been delivered as of the date so telecommunicated, personally delivered or mailed. Any party to this Voting Agreement may notify any other party of any changes to the address or any of the other details specified in this paragraph; provided,
however, that such notification shall only be effective on the date specified in such notice or five Business Days after the notice is given, whichever is later. Rejection or other refusal to accept or the inability to deliver because of
changed address of which no notice was given will be deemed to be receipt of the notice as of the date of such rejection, refusal or inability to deliver. 
 5.7 Construction. The parties have participated jointly in the negotiation and drafting of this Voting Agreement, and, in the event an ambiguity or question of intent or interpretation arises, this
Voting Agreement will be construed as if drafted jointly by the parties, and no presumption or burden of proof will arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Voting Agreement. 

5.8 Succession and Assignment. This Voting Agreement will be binding upon and inure to the benefit of the parties named herein and
their respective successors and permitted assigns (including any transferee of the Shares). No party hereto may assign either this Voting Agreement or any of its rights, interests or obligations hereunder. Any purported assignment not permitted
under this Section 5.8 shall be null and void. 

  
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 5.9 Entire Agreement. This Voting Agreement and the other agreements referred to
herein constitute the entire agreement among the parties hereto and supersedes any prior understandings, agreements or representations by or among any of the parties hereto, written or oral, to the extent they are related in any way to the subject
matter hereof. 
 5.10 Governing Law. This Voting Agreement will be governed by and construed in accordance with the Laws
of the State of Delaware, without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the Laws of any jurisdiction other than the State of
Delaware. 
 5.11 Enforcement. The Stockholder acknowledges and agrees that irreparable damage would occur in the event
that any of the provisions of this Voting Agreement required to be performed were not performed in accordance with its specific terms or were otherwise breached, and that monetary damages, even if available, would not be an adequate remedy therefor.
Accordingly, such Person agrees that, in the event of any breach or threatened breach by such Person of any covenant or obligation contained in this Voting Agreement, Jefferies shall be entitled to obtain, without proof of actual damages (and in
addition to any other remedy to which Jefferies may be entitled at law or in equity): (a) a decree or order of specific performance to enforce the observance and performance of such covenant or obligation; and (b) an injunction restraining
such breach or threatened breach. Each of the Stockholder further agrees that neither Jefferies nor any other Person shall be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition to obtaining any
remedy referred to in this Section 5.11 and such Person irrevocably waives any right it may have to require the obtaining, furnishing or posting of any such bond or similar instrument. 

5.12 Exclusive Jurisdiction. Each of the parties hereto irrevocably agrees that any Action with respect to this Voting Agreement
and the rights and obligations arising hereunder, or for recognition and enforcement of any judgment in respect of this Voting Agreement and the rights and obligations arising hereunder brought by the other party hereto or its successors or assigns,
shall be brought and determined exclusively in the Court of Chancery in the State of Delaware, or if (but only if) that court does not have subject matter jurisdiction over such action or proceeding, in the United States District Court for the
District of Delaware. Each of the parties hereto hereby irrevocably submits with regard to any such Action for itself and in respect of its property, generally and unconditionally, to the personal jurisdiction of the aforesaid courts and agrees that
it will not bring any action relating to this Voting Agreement or any of the transactions contemplated by this Voting Agreement in any court other than the aforesaid courts. Each of the parties hereto hereby irrevocably waives, and agrees not to
assert, by way of motion, as a defense, counterclaim or otherwise, in any Action with respect to this Voting Agreement, (a) any claim that it is not personally subject to the jurisdiction of the above-named courts for any reason, (b) any
claim that it or its property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment,
execution of judgment or otherwise) and (c) to the fullest extent permitted by applicable Law, any claim that (i) the Action in such court is brought in an inconvenient forum, (ii) the venue of such Action is improper or
(iii) this Agreement, or the subject matter of this Agreement, may not be enforced in or by such courts. 

  
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 5.13 Waiver of Jury Trial. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ANY AND ALL
RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS VOTING AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS VOTING AGREEMENT. 
 5.14 Waiver of Rights. No failure on the part of Jefferies to exercise any power, right, privilege or remedy under this Voting Agreement, and no delay on the part of Jefferies in exercising any
power, right, privilege or remedy under this Voting Agreement, shall operate as a waiver of such power, right, privilege or remedy; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any other or further
exercise thereof or of any other power, right, privilege or remedy. Jefferies shall not be deemed to have waived any claim available to Jefferies arising out of this Voting Agreement, or any power, right, privilege or remedy of Jefferies under this
Voting Agreement, unless the waiver of such claim, power, right, privilege or remedy is expressly set forth in a written instrument duly executed and delivered on behalf of Jefferies; and any such waiver shall not be applicable or have any effect
except in the specific instance in which it is given. 
 5.15 Severability. Any term or provision of this Voting
Agreement that is invalid or unenforceable in any jurisdiction will, as to that jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this
Voting Agreement and without rendering invalid or unenforceable any terms in any other jurisdiction. If any provision of this Voting Agreement is so broad as to be unenforceable, it is the parties’ intent that such provision will be interpreted
to be only so broad as is enforceable. 
 5.16 No Third-Party Beneficiaries. Except as provided for in the second
sentence of this Section 5.16, this Voting Agreement will not confer any rights or remedies upon any Person other than the parties hereto and their respective successors and permitted assigns. The undersigned parties agree and acknowledge that
Leucadia is an intended third party beneficiary of this Voting Agreement and shall be entitled to enforce any power, right, privilege or remedy of Jefferies hereunder. 
 5.17 Amendments. This Voting Agreement may not be amended except by an instrument in writing signed on behalf of Jefferies and the Stockholder. 

5.18 Counterparts. This Voting Agreement may be executed (including by facsimile, “pdf” or other electronic
transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed will be deemed to be an original but all of which taken together will constitute one and the same instrument.

 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the undersigned has caused this Voting Agreement to be duly executed by
its authorized officer as of the date first above written. 
  

			
	JEFFERIES GROUP, INC.
		
	By:	 	 /s/ Richard B. Handler

		 	Name:  Richard B. Handler
		 	Title:    Chief Executive Officer

  
 Signature Page
to Voting Agreement 

 IN WITNESS WHEREOF, the undersigned has caused this Voting Agreement to be duly executed as
of the date first above written. 
  

	
	 /s/ Brian P. Friedman

	 Brian P. Friedman

  
 Signature Page
to Voting AgreementEX-10.1

 Exhibit 10.1 
 June 18, 2012 
 William Densel 
 109 Austin Road 
 Sudbury, MA 01776 

 

	 	Re:	Employment Agreement 

 Dear Bill:

 On behalf of BG Medicine, Inc. (the “Company”), and the entire Board of Directors of the Company (the
“Board”), I am delighted to offer you employment with the Company. This offer letter agreement (the “Agreement”) describes the terms and conditions of such employment. 

1. Position. 
 a. Position and Responsibilities. Your initial position shall be General Manager, CardioSCORE, reporting to the Company’s President and Chief Executive Officer (“CEO”) or
his/her designee. We anticipate that your employment shall start effective June 26, 2012 (the “Start Date”). In this key position you shall initially have responsibility for all commercial activities related to CardioSCORE, which
shall include developing and implementing all commercial elements of the business plan such as new product introductions and expansion into the US and International markets with the key objective of driving profitable business growth and market
share. In your role you are expected to build and supervise a team to execute against objectives and to develop and manage processes and systems to support these functions. As you progress with the Company, your position and assignments are, of
course, subject to change, and you shall also be expected to perform such other and/or different services for the Company, including broader corporate responsibilities, as may be assigned to you from time to time by the President and CEO. You agree
to discharge such duties faithfully and diligently and shall dedicate your full business time to the business and affairs of the Company. 
 b. Limitation on Outside Activities. While you are employed hereunder, you shall not undertake any other employment, consultancy, directorship or other work engagement with any person or entity
without the prior written consent of the Company, provided that nothing contained in this paragraph shall prevent or limit your right to manage your personal investments on your own personal time, including, without limitation the right to
make passive investments in the securities of: (i) any entity which you do not control, directly or indirectly, and which does not compete with the Company, or (ii) any publicly held entity so long as your aggregate direct
and indirect interest does not exceed two percent (2%) of the issued and outstanding securities of any class of securities of such publicly held entity. Additionally, so long as such activities do not interfere with your performance of your
duties hereunder (including the devotion of business time and energies to the business and affairs of the Company, as described above), you also may participate in civic and charitable activities, but shall not serve in any official capacity,
including as a member of a board, without the prior written approval of the Company. 
 c. At-Will
Employment. This Agreement and the accompanying documents and agreements summarize and set forth important terms about your employment with the Company. No provision of this Agreement shall be construed to create an express or implied promise of
employment for any specific period of time. As is generally true for Company employees, you shall be employed on an at-will basis, which means that neither you nor the Company is guaranteeing this employment relationship for any specific period of
time. Either of the parties hereto may choose to end the employment relationship at any time, for any reason, with or without notice, subject to the provisions 

  
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hereof. Other than the terms of this Agreement, the Company reserves the right to alter, supplement or rescind its employment procedures, benefits or policies (other than the employment at-will
policy) at any time in its sole and absolute discretion and without notice. 
 2. Compensation. 

a. Salary. Your initial base pay shall be at a rate of $11,666.67 on a semi-monthly basis ($280,000 on an
annualized basis), minus customary deductions for federal and state taxes and the like, payable in periodic installments in accordance with the Company’s normal payroll practices. Your salary shall be subject to annual performance review and
adjustment in the Company’s sole discretion. You understand and acknowledge that the annualized amount of this salary is set forth as a matter of convenience and does not constitute nor shall be deemed to constitute an agreement by the Company
to employ you for any specific period of time. 
 b. Annual Performance Bonus. You shall be eligible to
receive an annual bonus of up to fifty percent (50%) of your base salary, payable upon the achievement, as determined by the President and CEO, of specific milestones to be mutually agreed upon by you and the CEO in writing on an annual basis.
The annual bonus, if any, shall be paid to you no later than March 15th of the calendar year immediately following the calendar year in which it was earned. You must be employed by the Company at the time that any such annual bonus is paid in
order to be eligible for and have earned any such annual bonus. 
 c. Stock Options. Subject to the terms
of and contingent upon your execution of a stock option agreement (the “Option Agreement”) issued pursuant to the Company’s 2010 Employee, Director and Consultant Stock Plan (the “Stock Plan”), and subject to Board approval,
you shall be granted an option to purchase 100,000 shares of common stock of the Company at an exercise price equal to the Fair Market Value (as defined in the Stock Plan) of the stock at the time of the grant. The option shall vest 25% on the first
anniversary of the Start Date and thereafter the remaining 75% shall vest in equal installments on a quarterly basis on the last day of each quarter over a period of three years following such first anniversary, provided that you remain employed by
the Company on the vesting day. Additionally, upon the consummation of a “Change of Control” (as this term is defined below) during your employment by the Company, 50% of any of your unvested option shares subject to the grant at the time
of the Change of Control shall become immediately vested and exercisable upon the Change of Control. The aforesaid shall be subject to the specific terms and conditions of the applicable plan document, which, in the case of inconsistency, shall
govern. 
 d. Benefits. You shall be eligible to participate in the Company’s benefit plans to the
same extent as, and subject to the same terms, conditions and limitations applicable to, other Company employees of similar rank and tenure. Summaries of each of the Company’s benefit plans are available to you. Any descriptions of benefits and
other compensation arrangements set forth herein are meant to be summary in form and may be subject to change. If any benefit is subject to a benefit plan, the terms of that plan shall control. Each calendar year you shall be eligible to receive
four (4) weeks vacation and up to twelve (12) holidays, as set forth by the Company and subject to the Company’s vacation and holiday policies as in effect from time to time. Such time off should be scheduled to minimize disruption to
the Company’s operations. These benefits, of course, may be modified, changed or eliminated from time to time at the sole discretion of the Company, and the provision of such benefits to you in no way changes or impacts your status as an
at-will employee. 
 e. Reimbursements. The Company shall reimburse you for all ordinary, reasonable and
documented out-of-pocket business expenses incurred by you in furtherance of the Company’s business 

  
 2 

 
and the performance of your job duties in accordance with the Company’s policies with respect thereto as in effect from time to time. You must submit any request for reimbursement no later
than forty five (45) days following the date that such business expense is incurred. All reimbursements provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A (“Section 409A”)
of the Internal Revenue Code of 1986, as amended, and any successor statute, regulation and guidance thereto (collectively, the “Code”). 
 3. Severance Pay and Benefits upon Termination of Employment. 
 a. Termination Other Than for Cause, Death or Disability. Should the Company involuntarily terminate your employment for reasons other than for “Cause” or “Disability” (as these
terms are defined in the Stock Plan) or death, and conditioned upon your execution and non-revocation of a separation agreement which shall contain, among other things, a full and general release of claims to the Company and its affiliates and their
respective directors, officers, agents and employees, in a form satisfactory to the Company, and upon your compliance with your obligations set forth in your Non-Competition, Confidentiality and Intellectual Property Agreement (the
“Confidentiality Agreement,” as described in Section 6 below), then the Company shall provide you with: (i) payments equal to six (6) months of your then current base salary, payable in periodic installments over six
(6) months, in accordance with the Company’s normal payroll practices; and (ii) if the Company is subject to the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) or similar state law and if you properly elect
to receive benefits under COBRA, six (6) months of your COBRA premiums at the Company’s normal rate of contribution for employees for your coverage at the level in effect immediately prior to your termination. If you are entitled to the
payments and benefits described in this paragraph (a), then you shall not be entitled to the payments and benefits described in paragraph (b) below. 
 b. Termination upon a Change of Control. Should the Company involuntarily terminate your employment within twelve (12) months following the consummation of a Change of Control for reasons
other than for “Cause” or “Disability” (as these terms are defined in the Stock Plan) or death, and conditioned upon your execution of a separation agreement which shall contain, among other things, a full and general release of
claims to the Company and its affiliates and their respective directors, officers, agents and employees, in a form satisfactory to the Company, and upon your compliance with your obligations set forth in the Confidentiality Agreement, then the
Company shall provide you with: (i) payments equal to six (6) months of your then current base salary, payable in periodic installments over six (6) months, in accordance with the Company’s normal payroll practices; and
(ii) if the Company is subject to COBRA or similar state law and if you properly elect to receive benefits under COBRA, six (6) months of your COBRA premiums at the Company’s normal rate of contribution for employees for your
coverage at the level in effect immediately prior to your termination. If you are entitled to the payments and benefits described in this paragraph (b), then you shall not be entitled to the payments and benefits described in paragraph
(a) above. 
 c. Any severance payments paid under this Section 3 shall commence on the sixtieth
(60th) day following your separation from service, provided that, as stated above: (i) you sign and do not revoke the above-referenced separation agreement (which shall be provided to you within five (5) days following a
qualifying separation from employment), and (ii) you continue to comply with the Confidentiality Agreement. 
 d. For purposes of this Agreement, “Change of Control” means: 
 (i) Ownership. Any “Person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “Beneficial Owner” (as defined in Rule 13d-3 under the Exchange
Act), 

  
 3 

 
directly or indirectly, of securities of the Company representing 50% or more of the total voting power represented by the Company’s then outstanding voting securities (excluding for this
purpose any such voting securities held by the Company or its Affiliates or by any employee benefit plan of the Company) pursuant to a transaction or a series of related transactions which the Board does not approve; or 

(ii) Merger/Sale of Assets. (A) A merger or consolidation of the Company whether or not approved by the
Board, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity or the parent of such corporation) more than 50% of the total voting power represented by the voting securities of the Company or such surviving entity or parent of such corporation, as the case may be, outstanding immediately after
such merger or consolidation; or (B) the sale or disposition by the Company of all or substantially all of the Company’s assets in a transaction requiring stockholder approval. 

“Change of Control” shall be interpreted, if applicable, in a manner, and limited to the extent necessary, so
that it shall not cause adverse tax consequences under Section 409A of the Code. 
 e. Nothing in
this Section 3 shall alter your status as an at-will employee. 
 4. Certifications by You. By signing this
Agreement, you are certifying to the Company that (a) your employment with the Company does not, and shall not, require you to breach any agreement entered into by you prior to employment with the Company (e.g., you have not entered into
any agreements with previous employers, including, without limitation, confidentiality, non-competition and non-solicitation agreements, that are in conflict with your obligations to the Company); (b) to the extent you are subject to any
such restrictive agreements that may affect your employment with the Company (e.g., confidentiality, non-competition and non-solicitation agreements that are in conflict with your obligations to the Company), you have provided the Company with a
copy of any such agreements; (c) your employment with the Company does not violate any order, judgment or injunction applicable to you, and you have provided the Company with a copy of any such order, judgment, injunction or agreement
which may be applicable to you; and (d) all facts you have presented or shall present to the Company are accurate and true, including, but not limited to, all oral and written statements you have made to the Company pertaining to your
education, training, qualifications, licensing and prior work experience on any job application, resume or c.v., or in any interview or discussion with the Company. Please understand that the Company does not want you to disclose any confidential
information belonging to a previous employer or to incorporate the proprietary information of any previous employer into the Company’s proprietary information, and expects that you shall abide by restrictive covenants to prior employers.

 5. Required I-9 Documentation. For purposes of completing the INS I-9 form, you must provide the Company with
sufficient documentation to demonstrate your eligibility to work in the United States on or before your first day of employment. If you have any questions about what documentation you must provide, please contact Stacie Rader, our Vice President,
Human Resources. Your employment with the Company is conditioned on your eligibility to work in the United States. 
 6.
Non-Competition, Confidentiality and Intellectual Property and Other Obligations by You. The Company considers the protection of its confidential information, proprietary materials and goodwill to be extremely important. Moreover, as part of
your employment with the Company, you have been, and shall be, exposed to, and provided with, valuable confidential and/or trade secret information concerning the Company and its present and prospective clients. As a result, in order to protect the
Company’s legitimate business interests, you agree, as a condition of your employment, to enter into the enclosed Confidentiality Agreement. You must sign and return the Confidentiality Agreement before beginning your employment with the
Company. Prior to accepting employment with any subsequent employer, you shall inform any such employer of any restrictions set forth herein which apply in any way to your activities for or employment by such employer. 

  
 4 

 7. Certain Events. In the event you receive payment pursuant to this Agreement and
the Company (or its successor) is later required to restate its financial statements due in whole or in part to the fraud or misconduct committed by you, then you shall promptly repay to the Company (or its successor) any such amounts you received
that were based in whole or part on the financial statements that were required to be restated and you shall not be entitled to any further payments that are based in whole or part on the financial statements that were required to be restated. In
addition, your bonuses and other incentive—based compensation and profits on stock sales shall be subject to potential disgorgement pursuant to Section 304 of the Sarbanes-Oxley Act of 2002. 

8. Compliance with Section 409A and 280G of the Code. 

a. Notwithstanding any other provision of this Agreement to the contrary, if any amount (including imputed income)
to be paid to you pursuant to this Agreement as a result of your termination of employment is “deferred compensation” subject to Section 409A of the Code, and if you are a “Specified Employee” (as defined under
Section 409A of the Code) as of the date of your termination of employment hereunder, then, to the extent necessary to avoid the imposition of excise taxes or other penalties under Section 409A of the Code, the payment of benefits, if any,
scheduled to be paid by the Company to you hereunder during the first six (6)-month period following the date of a termination of employment hereunder shall not be paid until the date which is the first business day after six (6) months have
elapsed since your termination of employment for any reason other than death. Any deferred compensation payments delayed in accordance with the terms of this Section 8.a. shall be paid in a lump sum on the first business day after six
(6) months have elapsed since your termination of employment. Any other payments shall be made according to the original schedule provided for herein. 
 b. If any of the benefits set forth in this Agreement are “deferred compensation” under Section 409A of the Code, then any termination of employment triggering payment of such
benefits must constitute a “separation from service” under Section 409A of the Code before distribution of such benefits can commence. To the extent that the termination of your employment does not constitute a “separation from
service” under Section 409A of the Code (as the result of further services that are reasonably anticipated to be provided by you to the Company at the time your employment terminates), any benefits payable under this Agreement that
constitute “deferred compensation” under Section 409A of the Code shall be delayed until after the date of a subsequent event constituting a “separation from service” under Section 409A of the Code. For purposes of
clarification, this Section 8.b. shall not cause any forfeiture of benefits on your part, but shall only act as a delay until such time as a “separation from service” occurs. 

c. It is intended that each installment of the payments and benefits provided under this Agreement shall be treated
as a separate “payment” for purposes of Section 409A of the Code. Neither the Company nor you shall have the right to accelerate or defer the delivery of any such payments or benefits except to the extent specifically permitted or
required by Section 409A of the Code. 
 d. Any reimbursements or direct payment of your expenses
subject to Section 409A of the Code shall be for expenses incurred during your lifetime (or during a shorter period of time specified in this Agreement), and shall be made no later than the end of the calendar year following the calendar year
in which such expense is incurred by you. Any reimbursement or right to direct payment of your expense in one calendar year shall not affect the amount that may be reimbursed or paid for in any other calendar year, and any reimbursement or payment
of your expense (or right thereto) may not be exchanged or liquidated for another benefit or payment. 

  
 5 

 e. Notwithstanding any other provision of this Agreement to the
contrary, the Agreement shall be interpreted and at all times administered in a manner that avoids the inclusion of compensation in income under Section 409A(a)(1) of the Code. Any provision inconsistent with Section 409A of the Code shall
be read out of the Agreement. For purposes of clarification, this Section 8.e. shall be a rule of construction and interpretation and nothing in this Section 8.e. shall cause a forfeiture of benefits on the part of you. 

f. If any payment or benefit you would receive under this Agreement, when combined with any other payment or
benefit you receive pursuant to a Change of Control (for purposes of this section, a “Payment”) would: (i) constitute a “parachute payment” within the meaning of Section 280G (“Section 280G”) of the
Code; and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be either: (A) the full amount of such Payment; or
(B) such lesser amount (with cash payments being reduced before stock option compensation) as would result in no portion of the Payment being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the
applicable federal, state and local employments taxes, income taxes, and the Excise Tax, results in your receipt, on an after-tax basis, of the greater amount of the Payment notwithstanding that all or some portion of the Payment may be subject to
the Excise Tax. 
 g. The parties intend this Agreement to be in compliance with Section 409A and
Section 280G of the Code. You acknowledge and agree that the Company does not guarantee any specific tax treatment or tax consequences associated with any payment or benefit arising under this Agreement or otherwise with respect to your
employment or termination thereof, including but not limited to consequences related to Section 409A or Section 280G of the Code, and that you shall be solely responsible for same. 

9. General. 
 a. Integration. This Agreement, together with the Confidentiality Agreement, the Stock Plan and the Option Agreement and any other agreements specifically referred to herein, embodies the entire
agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. 

b. Modification; Amendment; Waiver. The terms and provisions of this Agreement may be modified or amended only by
written agreement executed by the parties hereto. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by a written document executed by the party entitled to the benefits of such terms or
provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the
specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent. 
 c. Confidentiality. Because our employment discussions and the terms of your employment are confidential, it is understood that you shall not disclose the fact or terms of such discussions or the
terms of your employment with the Company to anyone other than your immediate family and your legal, financial or tax advisor at any time, absent prior written consent from the Company. 

  
 6 

 d. Assignment. The Company may assign its rights and obligations
hereunder to any person or entity that succeeds to all or substantially all of the Company’s business. You may not assign your rights and obligations hereunder without the prior written consent of the Company and any such attempted assignment
by you without the prior written consent of the Company shall be void. 
 e. Choice of Law; Jurisdiction.
This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the law of the Commonwealth of Massachusetts, without giving effect to the conflict of law principles thereof. By accepting
this Agreement and offer of employment, you agree that any action, demand, claim or counterclaim in connection with any aspect of your employment with the Company, or any separation of employment (whether voluntary or involuntary) from the Company,
shall be brought in the courts of the Commonwealth of Massachusetts or of the United States of America for the District of Massachusetts. 
 f. Notices. Except as otherwise specifically provided herein, any notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with notice deemed given as
indicated: (i) by personal delivery when delivered personally; (ii) by overnight courier upon written verification of receipt; (iii) by telecopy or facsimile transmission upon acknowledgment of receipt of
electronic transmission; or (iv) by certified or registered mail, return receipt requested, upon verification of receipt. Notices to you shall be sent to your last known address in the Company’s records or such other address as you
may specify in writing. Notices to the Company shall be sent to Attention: Chair, Board of Directors, B.G. Medicine, Inc., 610N Lincoln Street, Waltham, MA 02451, or to such other Company representative as the Company may specify in writing, with a
copy to Linda Rockett, Esq., Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C., 1 Financial Center, Boston, MA 02111. 
 g. Counterparts. This Agreement may be executed in two or more counterparts, and by different parties hereto on separate counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. For all purposes a signature by fax shall be treated as an original. 

The offer of employment contained in this Agreement shall remain open, unless sooner revoked by the Company, through June 25, 2012.

  
 7 

 Please acknowledge acceptance of this Agreement by signing, dating, and indicating your
start date below. Keep one copy for your files and return one executed copy to Stacie Rader, Vice President, Human Resources. 

William, we look forward to having you on the team. 

 

			
	 Very truly yours,
  

BG Medicine, Inc.

		
	By:	 	 /s/ Eric Bouvier

		 	 Eric Bouvier
 President
and CEO

  

	
	Accepted and Agreed to:
	
	 /s/ William Densel

	William Densel
	
	 June 27, 2012
 Start Date

  
 8

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