Document:

Exhibit

Exhibit 10.43
	
			
	Catalent Pharma Solutions
14 Schoolhouse Road
Somerset, NJ 08873
T  (732) 537-6401
F  (732) 537-5932

	 
	John Chiminski
President & Chief Executive Officer

May 2, 2011

Mr. Barry Littlejohns
5 Buckeye Lane
Flemington, NJ, 08822

Dear Barry:

Congratulations on your offer of employment! Catalent is the leading provider of pharmaceutical development services, drug-delivery technologies, manufacturing and packaging services to the global pharmaceutical and biotechnology industry. We take great pride in hiring executives who have talent, drive and commitment, and we are extremely delighted to have you join our team.

Attached is important information about our organization, your individual position, benefits and rewards. I encourage you to review all materials thoroughly and contact me with questions.

I am pleased to confirm in writing our offer of employment to you. The major provisions of your offer are:

		
	1.
	Position: Your position is President, Medical Delivery Systems reporting directly to myself. As the President, MDS you will also be a member of Catalent's Executive Leadership Team and located at our Somerset, NJ office.

		
	2.
	Pay: Your base bi-weekly rate of pay will be $14,230.77 (annualized to $370,000). The official Catalent workweek starts on Monday and runs through Sunday. Catalent employees are paid every other Friday, one week in arrears according to the payroll schedule included in your packet.

		
	3.
	Performance: Your performance and merit reviews will follow the standard annual review calendar for Catalent.

		
	4.
	Rewards: Catalent is pleased to offer a comprehensive, competitive compensation program that rewards talented employees for their performance.

		
	a.
	You will be eligible for participation in our short-term incentive plan, which we call our Management Incentive Plan (MIP). Your target incentive for fiscal year 2012 (July 1, 2011 - June 30, 2012) will be 75% of your annual base salary. Annual bonus payments are determined based upon the achievement of specific financial and management objectives. This will be explained to you in more detail when you come on board, but I am glad to answer any questions you may have in the interim.

		
	b.
	You will be eligible for our health, life, disability and 401(k) retirement savings plans on your first day of employment. You will receive more information on these benefits during your new hire orientation.

		
	c.
	You will be eligible to participate in Catalent's Deferred Compensation Plan that enables you to save over the IRS limits in the qualified 401(k) plan. Complete details on the features of this plan and how to enroll will be mailed to your home.

		
	d.
	We will recommend to the Board of Directors of PTS Holdings Corp. (parent entity of Catalent) that you be awarded 2,500 stock options to acquire shares of common stock of PTS Holdings Corp. with an exercise price per share equal to the Fair Market Value on the date of grant (as such term is defined in the Equity Documents).  The grant of your award will be subject to  and conditioned upon  your investment within 90 days of your hire date of not less than $200,000 in cash to purchase shares of common stock of PTS Holdings Corp. at a per share purchase price equal to the Fair Market Value. Your current holding of shares of PTS Holdings Corp. common stock shall be applied against your co­ investment. Provided that you utilize 100% of your after-tax proceeds of your Sign-on Bonus to make your co-investment within 90 days of your hire, the remaining portion of your co-investment may be completed following the payment of the MIP bonus (as applicable) for FY2012, but in no case later than December 2012 and in any case at the FMV in effect on the date of such co-investment.

The grant of your award is also subject to the approval of the Board of Directors of PTS Holdings Corp. and the date of the grant will be the date the Board of Directors approves your award. The timing of the approval of your recommended grant is dependent on your acceptance and start date. The complete terms and conditions of this equity award, including vesting provisions and restrictive covenants will be communicated to you as part of the Equity Documents that you will receive, pending approval of the award. "Equity Documents" are defined as the PTS Holdings Corp. Management Equity Subscription Agreement, PTS Holdings Corp. Securityholders Agreement, 2007 PTS Holdings Corp. Stock Incentive Plan, and the Non-Qualified Stock Option Agreement to the 2007 PTS Holdings Corp. Stock Incentive Plan.

		
	5.
	Sign-on Bonus: You will receive a sign-on bonus of $115,000.00 payable within 30 days of your start date (the "Sign-on Bonus"). You may use any and all after-tax proceeds of your Sign-on Bonus to make your co-investment described in paragraph 4(d) above. Notwithstanding any terms herein to the contrary, the entire Sign-on Bonus shall be repaid to Catalent within 30 days following any termination of your employment (i) by you without Good Reason or (ii) by Catalent for Cause, in either case, prior to the first anniversary of your hire date. The terms "Good Reason" and "Cause" are defined in your severance agreement.

		
	6.
	Severance: A separate severance agreement letter will be provided to you to reflect a severance benefit equal to your annual base salary and MIP target bonus subject to the terms of the agreement.

		
	7.
	Paid Time Off: Upon joining Catalent you will receive seven (7) paid company holidays (New Years Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and the day following, and Christmas Day). You will also be eligible to receive up to 26 days of PTO each year. For 2011, this will be prorated based upon your start date. PTO includes vacation, sick and personal days, all of which need to be used during the 2011 calendar year as we do not permit carry over, unless lawfully required.

		
	8.
	Screening: Consistent with our policies for all Catalent personnel and the special consideration of our industry, this offer is contingent upon the taking of a company-paid drug screening test, the results of which must be negative, as well as an acceptable background check. The drug screen must be completed within five days of receipt of this offer. The background check must be completed prior to your start of employment. Please sign and fax back at least one week prior to your start date the following documents authorizing us to move forward with the initiation of the required background check:

		
	1.
	Signed copy of this offer

		
	2.
	Background Check - Notice & Acknowledgement.

		
	9.
	Terms: Notwithstanding anything to the contrary herein, employment with Catalent is not for any definite period of time and is terminable, with or without notice, at the will of either you or the company at any time for any reason. There shall be no contract, express or implied, of employment.

		
	10.
	Confidentiality: Catalent does not hire people for the purpose of acquiring their current or former employer's trade secrets, intellectual property, or other confidential or proprietary information, and Catalent does not want access to any materials containing such information. Consequently, any documents, computer discs, etc. containing any such information should be returned to your current or former employer, and in no case may such information be brought to, or used, at Catalent.

		
	11.
	Ethics:  As a company. founded on a core set of values, you will be provided with Catalent's Standards of Business Conduct and be prepared to sign a letter of compliance. You also represent that there is nothing that will prevent you from performing the role and duties commensurate of a Business Unit President with global responsibilities.

		
	12.
	Orientation: Orientation for new hires is conducted monthly at the Somerset facility. We will work out a mutually agreeable day and time for your orientation to receive information about the benefits program, as well as technology training. The Immigration Reform and Control Act of 1986 require employers to verify the employment eligibility and identity of all new employees. In accordance with this Act, please bring the appropriate identifying documents with you on your first day of employment. A sample copy of the 1-9 form including a list of accepted documentation of proof of work authorization is attached in this offer packet for your review. You do not need to complete this form now, but will be asked to complete it on your first day of employment. Typical identification items include your driver's license and social security card.

		
	13.
	Start Date: Your first day of employment will be July 1, 2011 subject to the release date from your current employer.

Your agreement to the terms of this letter supersedes any other oral or written agreement or understanding you have with the Company (including any predecessor entity) regarding your eligibility for rewards and benefits. As mentioned above, please fax back a signed copy of this offer, the completed Background Check - Notice & Acknowledgment to commence your background investigation to Anna Murray at 732-537-5932. Please sign below your agreement to the terms of this letter. If you have any questions, please feel free to call me at 732-537-6401 or Lance Miyamoto at 732-537-6147.

We look forward to you joining the team!

Sincerely,

/s/ John Chiminski
John Chiminski
President and Chief Executive Officer,
Catalent Pharma Solutions, Inc.

Enclosures

cc:  Lance Miyamoto

I accept the above offer of employment:

/s/ Barry Littlejohns                     May 2, 2011    

Barry Littlejohns                    DateExhibit

Exhibit 10.45

PERFORMANCE SHARE UNIT AGREEMENT 
UNDER THE
CATALENT, INC.
2014 OMNIBUS INCENTIVE PLAN

(Performance Period commencing on July 1, 2016 and ending on June 30, 2019)

Pursuant to the Performance Share Unit Grant Notice (the “Grant Notice”) delivered to the Participant (as defined in the Grant Notice), and subject to the terms of this Performance Share Unit Agreement (this “Agreement”), and the Plan, Catalent, Inc. (the “Company”) and the Participant agree as follows.

1.Definitions. Whenever the following terms are used in this Agreement,  they shall  have the meanings set forth below.  Capitalized terms not defined in this Agreement have the meaning set forth  in the Plan or the Grant Notice, as  applicable.

(a)Employment.  The term “Employment” means the Participant’s employment as an employee of the Company or any of its Affiliates or  Subsidiaries.

(b)Performance Period. The term “Performance Period” means the period commencing on July 1, 2016 and ending on June 30, 2019.

(c)Performance Share Unit. The term “Performance Share Unit” means a performance-based Restricted Stock Unit granted pursuant to Section 11 of the  Plan.

(d)Period of Service. The term “Period of Service” means the continuous period of the Participant’s Employment up to the Termination Date, and also includes any prior period of  Employment separated by: (i) any break in Employment as a result  of  a leave of absence  authorized by the Company or by law; and (ii) any break in Employment not  authorized by the Company or by law lasting twelve (12) months or less.

		
	(e)
	Plan.  The term “Plan” means the 2014 Omnibus Incentive Plan, as in effect from

time to time.

(f)Restrictive Covenant Violation. The term “Restrictive  Covenant  Violation”  means the Participant’s breach of any of the Restrictive Covenants set forth in Section 10 of  this  Agreement or any covenant regarding confidentiality, competitive activity, solicitation of the Company’s   or any of its Affiliates’ or Subsidiaries’ vendors, suppliers, customers or employees or any  similar  provision applicable to or agreed to by the Participant, all to the extent permitted by law.

(g)Retirement. The term “Retirement” means a Termination (other than a Termination when grounds existed for a Termination for Cause at the time thereof) initiated by the Participant that occurs on or after the date on which the sum of the Participant’s age and Period of Service (calculated in months) equals sixty-five (65) years, so long as the  Participant is  at least  fifty-five (55) years old and provides at least six (6) months’ notice of his or her intention to retire.

(h)Termination Date. The term “Termination Date” shall mean the date upon which the Participant incurs a Termination for any reason.

2.Grant of Performance Share Units. Subject to the terms and conditions set forth in this Agreement,  the Grant Notice and the Plan, for good and valuable consideration, the Company hereby grants to the Participant the EPS and RTSR Target Number of Performance Share Units provided in the Grant Notice.

3.Vesting. Subject to the terms and conditions contained in this Agreement, the Grant Notice and the Plan, the Performance Share Units shall vest as provided in Exhibit A, except as otherwise set forth in Section 6 of this Agreement. With respect to any Performance Share Unit, the period during which such Performance Share Unit remains subject to vesting requirements shall be its Restricted   Period.

4.Dividend Equivalents. The  Company will credit  Performance  Share  Units  with  dividend equivalent payments following the payment by the Company of dividends on shares of Common Stock. The Company will provide such 

dividend equivalents in shares of Common Stock having a Fair Market Value per Performance Share Unit, as of the date of such dividend payment, equal to the per-share amount of such applicable dividend, and shall be payable at the same time as (and only  if)  the  Performance Share Units are settled in accordance with Section 5 below. In the event that any Performance Share Unit is forfeited by its terms, the Participant shall have no right to dividend equivalent payments in respect of such forfeited Performance Share  Units.

5.Settlement of Performance Share Units. Upon expiration of the Restricted Period with respect to any outstanding Performance Share Unit not previously forfeited in accordance with Exhibit A or Section 6 below, the Company shall issue to the Participant as soon as practicable (but no later than March 15 of the year following the year in which the Restricted Period expires) one share of Common  Stock for such Performance Share Unit, and such Performance Share Unit shall be canceled; provided, however, that the Committee may, in its sole discretion, elect to defer the issuance of such shares beyond  the expiration of the Restricted Period if such extension would not cause adverse tax consequences under Section 409A.

		
	6.
	Treatment on Termination.

(a)Subject to clauses (b) - (d) below, if the Participant incurs a Termination prior to the Regular Vesting Date (as defined on Exhibit A), (i) the Participant’s Performance Share Units shall cease vesting and (ii) the Participant  shall forfeit all unvested Performance Share Units to the Company for no consideration as of the Termination  Date.

(b)Death. If the Participant incurs a Termination due to death, the  EPS  Target Number of Performance Share Units and the RTSR Target Number of Performance Share Units or the number of Converted RSUs (as defined in Exhibit A) to the extent applicable, shall, to the extent not then vested or previously forfeited or cancelled, become  fully vested,  the Restricted Period  shall  expire  and any unvested Performance Share Units will immediately be forfeited to the Company by the Participant    for no consideration.

(c)Disability/Retirement. If the Participant incurs a Termination due to Disability or Retirement, the number of Performance Share Units as determined in accordance with Exhibit A, to the extent applicable, shall, to the extent not then vested or previously forfeited or canceled, continue to vest   as provided in Exhibit A as if the Participant had continued Employment through the Regular Vesting   Date, subject to the Participant’s compliance with the restrictive covenants set forth in Section 10 of this Agreement and the Participant’s execution, delivery and non-revocation of a waiver and release of claims  in favor of the Company and its Affiliates and Subsidiaries in a form prescribed by the  Company on or  prior to the 60th  day following the Termination Date; provided, however, in the case of a Termination due  to  Retirement,  the  number  of  Performance  Share  Units,  if  any,  that  shall  vest  shall  be  the   number determined in accordance with Exhibit A and then multiplied by a fraction, the numerator of  which is   equal to the number of days between and including the first day of the Performance Period and the date    the Participant incurs a Termination due to Retirement and the denominator of which is 1095 (the “Retirement Fraction”). Upon the Regular Vesting Date, the Restricted Period shall expire with respect to the Retirement Fraction of the Performance Share Units, and the Participant will immediately forfeit the remaining fraction of the unvested Performance Share Units to the Company for no   consideration.

(d)Change in Control.   In the event of a Change in Control, if the Participant incurs    a Termination by the Service Recipient without Cause (other than due to death or Disability) prior to the Regular Vesting Date, the number of Converted RSUs shall, to the extent not then vested or previously forfeited or cancelled, become fully vested and the Restricted Period shall expire. If  the  Service  Recipient’s Termination was a Retirement, the vesting referenced in this clause 6(d) shall be with respect   to the Retirement Fraction of the number of Converted  RSUs.

7.Non-Transferability. The Performance Share Units are not transferable  by  the Participant except to Permitted Transferees in accordance with Section 14(b) of the Plan. Whenever the word “Participant” is used in any provision of this Agreement under circumstances where the provision should logically be construed to apply to executors, the administrators or  the person or persons to whom   the Performance Share Units may be transferred by will or by the laws of descent and distribution in accordance with Section 14 of the Plan, the word “Participant” shall be deemed to include such person or persons. Except as otherwise provided in this Agreement or the Plan, no assignment or transfer of the Performance Share Units, or of the rights represented thereby, whether voluntary or involuntary, by operation of law or otherwise, shall vest in the assignee or transferee any interest or right  in  this  Agreement or the Plan whatsoever, but immediately upon such assignment or transfer the Performance Share Units shall be forfeited and become of no further  effect.

8.Rights as Stockholder. The Participant or a Permitted Transferee of the Performance Share Units shall have no rights as a stockholder with respect to any share of Common Stock underlying a Performance Share Unit unless and until the Participant becomes the holder of record or the beneficial owner of such Common Stock, and no adjustment shall be made 

for dividends or distributions or other rights in respect of such share of Common Stock for which the record date is prior to the date upon which the Participant becomes the holder of record or the beneficial owner  thereof.

9.Repayment of Proceeds; Clawback Policy.  If  a Restrictive Covenant Violation occurs  or the Company discovers after a Termination that grounds existed for Cause at the time thereof, then the Participant shall be required, in addition to any other remedy available (on a non-exclusive basis), to pay    to the Company, within ten (10) business days of the Company’s request to the Participant therefor, an amount equal to the aggregate after-tax proceeds (taking into account all amounts of tax that would be recoverable upon a claim of loss for payment of such proceeds in the year of repayment) the Participant received upon the sale or other disposition of, or distributions in respect of, the Performance Share Units  and any shares of Common Stock issued in respect thereof. Any reference in this Agreement to grounds existing for a Termination for Cause shall be determined without regard to any notice period, cure period,  or other procedural delay or event required prior to finding of or termination with,  Cause.  The  Performance Share Units and all proceeds thereof shall be subject to the Company’s Clawback Policy (to comply with applicable laws or with the Company’s Corporate Governance Guidelines or other similar requirements), as in effect from time to time, to the extent the Participant is a director or “officer” as  defined in Rule 16a-1(f) promulgated under the Exchange  Act.

		
	10.
	Restrictive Covenants.

(a)To the extent that the Participant is a party to an employment or similar agreement with   the Company or one of its Affiliates or Subsidiaries containing non-competition, non-solicitation, non- interference or confidentiality restrictions (or two or more such restrictions), those restrictions and related enforcement provisions under such agreement shall govern and the following provisions of this Section 10 shall not apply.

		
	(b)
	Competitive Activity.

To the extent a Participant lives in a jurisdiction where restrictive covenants are void as against public policy, Section 10(b) of this Agreement shall be considered deleted from and therefore not part of this Agreement.

(i)The Participant shall  be  deemed to have engaged in “Competitive Activity”  if, during the period commencing on the Date of Grant and ending on the date that is 12 months after the Termination Date (the “Restricted Activity Period”), the Participant, whether on the Participant’s own behalf or on behalf of or in conjunction with any other Person  (as  defined below), directly or indirectly, violates any of the following  prohibitions:

(I)During the Restricted Activity Period, the Participant will  not,  whether  on the Participant’s own behalf or on behalf of or in conjunction with any individual, person, firm, partnership, joint venture, association, corporation  or other business organization, entity or enterprise whatsoever (“Person”),  directly or indirectly, solicit or assist in  soliciting in  competition  with the Company or  any of its Subsidiaries or Affiliates, the business of any client  or  prospective client:

		
	(1)
	with whom the Participant had personal contact or dealings on behalf of the Company or any of its Subsidiaries or Affiliates during the one-year period preceding the Termination Date;

		
	(2)
	with whom employees reporting to the Participant have had personal contact or dealings on behalf of the Company or any of its Subsidiaries or Affiliates during the one-year period preceding the Termination Date;  or

		
	(3)
	for whom the Participant had direct or indirect responsibility during the one-year period preceding the Termination  Date.

(II)During the Restricted Activity Period, the Participant will not directly or indirectly:

		
	(1)
	engage in any business that competes with the business of the Company or any of its Subsidiaries or Affiliates, including, but not limited to, providing formulation/dose form technologies and/or contract services to pharmaceutical, biotechnology,     over-the-counter    and vitamins/minerals/supplements companies related to pre-clinical and clinical    development, formulation, analysis, manufacturing and/or packaging and any other technology, product or service of the type developed, manufactured or sold by the Company 

or any of  its Subsidiaries or Affiliates (including, without limitation,  any  other business that the Company or any of its Subsidiaries or Affiliates have plans to engage in as of the Termination Date) in any geographical area where the Company or any of its Subsidiaries or Affiliates conducts business (a “Competitive  Business”);

		
	(2)
	enter the employ of, or render any services to, any Person  (or  any  division or controlled or controlling Affiliate of any Person)  who  or  which engages in a Competitive  Business;

		
	(3)
	acquire a financial interest in, or otherwise become  actively  involved with, any Competitive Business, directly or indirectly, as an individual, partner, shareholder, officer, director, principal, agent, trustee or consultant; or

		
	(4)
	interfere with, or attempt to interfere with, any business relationship (whether formed before, on or after the Date of Grant) between the Company or any of its Subsidiaries or Affiliates and  any  customer,  client, supplier, or investor of the Company or any of its Subsidiaries or Affiliates.

Notwithstanding anything to the contrary in this Agreement, the Participant may, directly  or indirectly own, solely as an investment, securities of any Person engaged in any Competitive Business that are publicly traded on a national or regional stock exchange or on the over-the-counter market if the Participant (i) is not a controlling person of, or a member of a group that controls, such Person and (ii) does not, directly or indirectly, own 5% or more of any class of securities of such  Person.  Any such  qualifying ownership  shall not be deemed to be engaging in Competitive Activity or a Restrictive Covenant Violation for purposes of this Agreement.

(III)    During the Restricted Activity Period, the Participant will  not,  whether  on the Participant’s own behalf or on behalf of or in conjunction with any Person, directly or indirectly:

		
	(1)
	solicit or encourage any employee of the Company or any of its Subsidiaries or Affiliates to leave such Employment;  or

		
	(2)
	hire any such employee who was employed by the Company or any of its Subsidiaries or Affiliates as of the Termination Date or who left such Employment coincident with, or within six (6) months prior to or after,   the Termination Date; provided, however, that this restriction shall cease  to apply to any employee who has not been employed by the Company or any of its Subsidiaries or Affiliates for at least six (6) months.

(IV)  During the Restricted Activity Period, the Participant will not, directly or indirectly, solicit or encourage to cease to work with the Company or any of its Subsidiaries or Affiliates any consultant then under contract with the Company or any of its Subsidiaries or Affiliates.

(ii)It is expressly understood and agreed that although the Participant and the Company consider the restrictions contained in this Section 10(b) to be reasonable, if a final  judicial determination is made by a court of competent jurisdiction that the time or territory or any other restriction contained in this Agreement is an unenforceable restriction against the Participant, the provisions of this Agreement shall not be rendered void but shall be deemed amended to apply as to such maximum time and territory and to such maximum extent as such  court may judicially determine or indicate to be enforceable. Alternatively, if any court of competent jurisdiction finds that any restriction  contained  in this  Agreement  is  unenforceable, and such restriction cannot be amended so as to make it enforceable, such finding shall not affect  the enforceability of any of the other restrictions contained in this Section 10(b).

		
	(c)
	Confidentiality.

(i)The Participant will not at any time (whether during or after the Participant’s Employment) (x) retain or use for the benefit, purposes or account of the Participant or any other Person; or (y) disclose, divulge, reveal, communicate, share, transfer or provide access to any  Person outside the Company and its Affiliates and Subsidiaries (other than its  professional  advisors who are bound by confidentiality obligations), any non-public,  proprietary  or  confidential information --including without limitation trade secrets, know-how, research and development, software, databases, inventions, processes, formulae, technology, designs and other intellectual property, information concerning finances, investments,  profits,  pricing,  costs, products, services, vendors, customers, clients, partners, investors, personnel, compensation, 

recruiting, training, advertising, sales, marketing, promotions,  government  and  regulatory activities and approvals -- concerning the past, current or  future  business,  activities  and  operations of the Company, its Subsidiaries or Affiliates and/or any third party that has disclosed   or provided any of same to the Company on a confidential basis (“Confidential Information”) without the prior written authorization of the  Board.

(ii)Notwithstanding anything to the contrary in Section 10(c)(i), “Confidential Information” shall not include any information that (w) is or becomes generally available to the public other than as a result of a breach of this Section 10(c); (x)  is  already known  by  the recipient of the disclosed information at the time of disclosure as evidenced by the recipient’s written records, (y) becomes available to the recipient of the disclosed information on a non- confidential basis from a source that is entitled to disclose it on a non-confidential basis, or (z) was or is independently developed by or for the recipient of the information without reference to Confidential Information, as evidenced by the recipient’s written  records.

(iii)Except as required by law, the Participant will not disclose to anyone, other than the Participant’s immediate family and legal or financial or tax advisors or lender, each of whom  the Participant agrees to instruct not to disclose, the existence  or contents of this Agreement  (unless this Agreement shall be publicly available as a result of a regulatory filing made by the Company or  one of its Affiliates or Subsidiaries); provided that  the Participant may disclose to  any prospective future employer the provisions of Section 10 of this Agreement provided such prospective future employer agrees to maintain the confidentiality of such  terms.

(iv)Upon Termination, the Participant shall (x) cease and not thereafter  commence  use of any Confidential Information or intellectual property (including, without limitation, any patent, invention, copyright, trade secret, trademark, trade name, logo, domain name or other  source indicator) owned or used by the Company, its Subsidiaries or Affiliates; (y) immediately destroy, delete, or return to the Company, at the Company’s option, all originals and copies in any form  or  medium  (including memoranda,  books,  papers,  plans,  computer  files,  letters and other data) in the Participant’s possession or control (including any of the foregoing stored or located in the Participant’s office, home, laptop or other computer, whether or not Company property) that contain Confidential Information or otherwise relate to the business of the Company or one of its Affiliates or Subsidiaries, except that the Participant may retain only those portions  of  any  personal notes, notebooks and diaries that do not contain any Confidential Information; and (z) notify and fully cooperate with the Company regarding the delivery or destruction of any other Confidential Information of which the Participant is or becomes  aware.

(v)Notwithstanding the foregoing, pursuant to 18 U.S.C. § 1833(b),  the  parties to this Agreement have the right to disclose in confidence trade secrets to Federal, State, and local government officials, or to an attorney, for the sole purpose of reporting or investigating a  suspected violation of law. The parties to this agreement also have the right to disclose trade  secrets in a document filed in a lawsuit or other proceeding, but only if the filing is made under   seal and protected from public disclosure. 18 U.S.C. § 1833(b) states: “An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that-(A) is made-(i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed    in a lawsuit or other proceeding, if such filing is made under seal.” Nothing in this Agreement is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets where such disclosure is expressly allowed by 18 U.S.C. § 1833(b).

		
	(d)
	Equitable Relief.

Notwithstanding the remedies set forth in Section 9 above and notwithstanding any other remedy that would otherwise be available to the Company at law or in equity, the Company and the Participant agree  and acknowledge that if an actual or threatened Restrictive Covenant Violation occurs,  the Company will be entitled to an injunction and/or other equitable relief restraining the Participant from the Restrictive Covenant Violation without the necessity of posting a bond or proving actual   damages.

11.Notice. Every notice or other communication relating to this Agreement between the Company and the Participant shall be in writing, and shall be mailed to or delivered to the party for whom  it is intended at such address as may from time to time be designated by it in a notice mailed or delivered   to the other party as in this Agreement provided; provided that, unless and until some other address be so designated, all notices or communications by the Participant to the Company shall be mailed or delivered   to the Company at its principal executive office, to the attention of the Company’s General Counsel, and   all notices or communications by the Company to the Participant may be given to  the  Participant  personally or may be mailed to the Participant at the Participant’s last known address, as reflected in the Company’s records. Notwithstanding the above, all notices and communications between the Participant  and any third-party plan administrator shall  be mailed,  delivered, transmitted or sent in accordance with  the procedures established by such third-party plan administrator and  communicated  

to  the  Participant from time to time.

12.No Right to Continued Employment. Neither the Plan nor this Agreement nor  the granting of the Performance Share Units that are the  subject of this Agreement  shall be construed as  giving the Participant the right to be retained in the employ of, or in any consulting relationship to, the Company or any of its Affiliates or Subsidiaries. Further, the Company, or, if different, the Service Recipient, may at any time dismiss the Participant or discontinue any consulting relationship free from     any liability or any claim under the Plan or this Agreement, except as otherwise expressly provided in this Agreement.

13.No Advice Regarding Grant. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendation regarding the Participant’s participation in the Plan, or the Participant’s acquisition or sale of the underlying shares of Common Stock. The Participant is hereby advised to consult with the Participant’s own personal tax, legal  and financial advisors regarding   the Participant’s participation in the Plan before taking any action related to the  Plan.

14.Data Privacy. The Participant hereby explicitly and without reservation consents to the collection, use and transfer, in electronic or other form, of the Participant’s personal data as described  in this Agreement and any other Performance Share Unit grant materials by and among, as applicable, the Service Recipient, the Company and its other Affiliates or Subsidiaries for the exclusive purpose of implementing, administering and managing the Participant’s participation in the Plan.

The Participant understands that the Company and the Service Recipient may hold certain personal information about the Participant, including, but not limited  to,  the  Participant’s name, home address, email address and telephone number, date of birth, social insurance number, passport or other identification number, salary, nationality, job title, any shares of Common Stock or directorships held in the Company, details of all Performance Share Units or any other entitlement to shares of Common Stock awarded, canceled, exercised, vested, unvested or outstanding in the Participant’s favor (“Data”), for the exclusive purpose of implementing, administering and managing  the Plan.

The Participant understands that Data will be transferred to Morgan Stanley Smith Barney LLC, or such other stock plan service provider as may be selected by the Company in the     future, which is assisting the Company with the implementation, administration and management of    the Plan. The Participant understands that the recipients of the Data may be  located  in the United  States or elsewhere, and that the recipients’ country (e.g., the United States) may have different data privacy laws and protections than the Participant’s country. The Participant understands that the Participant may request a list with the names and addresses of any potential recipient of the Data by contacting the Participant’s local human resources representative. The Participant authorizes the Company, Morgan Stanley Smith Barney LLC and any other possible recipient that may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing the Participant’s participation  in  the  Plan.  The  Participant understands that Data will be held only as long as  is necessary to implement,  administer  and manage the Participant’s participation in the Plan. The Participant understands  that  the  Participant may, at any time, view Data, request additional information about the storage  and  processing of Data, require any necessary amendment to Data or refuse or withdraw the consents in    this Section 14, in any case without cost, by contacting in writing the Participant’s local human  resources representative. Further, the Participant understands that the Participant is providing on a purely voluntary basis the consents described in this Agreement.  If the Participant does not consent, or  if the Participant later seeks to revoke the Participant’s consent, the Participant’s Employment and career with the Service Recipient will not be adversely affected; the only adverse  consequence  of refusing or withdrawing the Participant’s consent is that the Company would not be able to grant Performance Share Units or other equity awards to the Participant or administer or maintain such awards. Therefore, the Participant understands that refusing or withdrawing the Participant’s consent may affect the Participant’s ability to participate in the Plan. For more information  on  the  consequences of the Participant’s refusal to consent or withdrawal of consent, the Participant understands that the Participant may contact the Participant’s local human resources   representative.

15.Binding Effect. This Agreement shall be binding upon the heirs,  executors,  administrators, successors and, to the extent permitted, assigns or other  Permitted  Transferees  of  the parties to this Agreement.

16.Waiver and Amendments. Subject to Section 13(b) of the Plan, the Committee may  waive any condition or right under, amend any term of, or alter, suspend, discontinue, cancel or terminate, this Agreement, prospectively or retroactively (including after  the  Participant’s  Termination);  provided that any such waiver, amendment, alteration, suspension, 

discontinuance, cancellation or termination that would materially and adversely affect the rights of the Participant under this Agreement shall not to that extent be effective without the consent  of the  Participant.  No waiver  by either of the parties hereto of  their rights under this Agreement shall be deemed to constitute a waiver with respect to any subsequent occurrence or transaction under this Agreement unless such waiver specifically states that it is to be construed as a continuing waiver.

17.Governing Law; Venue. This Agreement shall be construed and interpreted  in  accordance with the laws of the State of Delaware, without regard to its principles of conflicts of law. For purposes of litigating any dispute that arises under this grant or this Agreement, the parties hereby submit  to and consent to the jurisdiction of federal and state courts located in Somerset County, New Jersey, and hereby waive any objection to proceeding in such jurisdiction, including any objection regarding an inconvenient forum.

18.Plan. The terms and conditions of the Plan are incorporated in this Agreement by reference. In the event of a conflict or inconsistency between the terms and conditions of the Plan and the terms and conditions of this Agreement, the Plan shall govern and  control.

19.Electronic Delivery and Acceptance.  The Company may, in its sole discretion, decide   to deliver any document related to current or future participation in the Plan by electronic means. The Participant hereby consents to receive such documents by electronic delivery and agrees to participate in   the Plan through an on-line or electronic system established and maintained by the Company or a third  party designated by the Company.

20.Imposition of Other Requirements. The Company reserves  the right  to impose any  other requirements on the Participant’s participation in the Plan, on the Performance Share Units and on   any shares of Common Stock acquired under the Plan, to the extent the Company determines  it  is  necessary or advisable for legal or administrative reasons, and to require the Participant to sign any additional agreement or undertaking that may be necessary to accomplish the   foregoing.

21.Section 409A of the Code. The Performance Share Units are not intended to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code (together with      any Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulation or other guidance that may be issued after the date hereof, “Section 409A”).   However, notwithstanding any other provision of the Plan, the Grant Notice or this Agreement,    if at any time the Committee determines that the Performance Share Units (or any portion thereof) may be subject to Section 409A, the Committee shall have the right in its sole discretion (without any obligation    to do so or to indemnify the Participant or any other person for failure to do so)  to  adopt  such  amendments to the Plan, the Grant Notice or this Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other action, as the Committee determines is necessary or appropriate either  for the Performance Share Units to be exempt  from the application of Section 409A or to comply with the requirements of Section   409A.

22.Insider Trading Restrictions/Market Abuse Laws.  The Participant acknowledges that  he or she may be subject to insider trading restrictions and/or market abuse laws of  one  or  more countries, that may affect his or her ability to acquire or sell shares of Common Stock or rights to shares of Common Stock (e.g., Performance Share Units) under the Plan during such times as the Participant is considered to have “inside information” regarding the Company (as defined by applicable laws). Any restrictions under these laws or regulations are separate from and in addition to any restriction that may   be imposed under any applicable Company securities trading policy. The Participant is responsible for ensuring compliance with any applicable restriction and is advised to consult his or her personal legal advisor on this matter.

23.Entire Agreement; Miscellaneous. This Agreement, the Grant Notice and the Plan constitute the entire understanding between the Participant and the Company regarding the Performance Share Units. This Agreement, the Grant Notice and the Plan supersede any prior agreements, commitments or negotiations concerning the Performance Share Units. The headings used in this Agreement, including without limitation Exhibit A, are for convenience only and shall not affect its interpretation.

Exhibit A to Performance Share Unit  Agreement

1.Vesting. Except as otherwise expressly provided in Section 6 of the Agreement, provided the Participant has not incurred a Termination on or prior to the Regular Vesting Date, the Performance Share Units granted under the Grant Notice to which this Agreement relates shall vest upon the date on which   the Committee determines and certifies, as applicable, the attainment level of both the EPS Performance Percentage and the RTSR Performance Percentage (the “Regular Vesting Date”)  with  respect  to  the period commencing on July 1, 2016 and ending on June 30, 2019 (the “Performance Period”), in each case, as of the last day of the Performance Period, which determination shall be made no later than the seventy-fifth (75th) day following the end of the Performance Period. As determined by the Committee, the number of Performance Share Units, if any, in which the Participant vests shall be equal to the sum of (a) the product  of (i) the EPS Target Number  of Performance Share Units (as set forth in the Grant   Notice) and (ii) the EPS Performance Percentage, plus (b) the product of (i) the RTSR Target Number of Performance Share Units (as set forth in the Grant Notice) and (ii) the RTSR Performance  Percentage. Upon the Regular Vesting Date, the Restricted Period  shall expire and any vested  Performance Share  Units shall be settled in accordance with Section 5 of the Agreement.  Any Performance Share Units that  do not become vested in accordance with this Exhibit A (to the extent not previously forfeited pursuant to Section 6 of the Agreement) shall, effective as of the Regular Vesting Date, be forfeited by the Participant without consideration.

2.Change in Control. Notwithstanding Section 1 of this Exhibit A, the following shall apply in connection with a Change in Control:

(a)In the event of a Change in Control prior to the last day of the Performance Period, to the extent the stock of the acquiring or successor entity is publicly traded and the Performance Shares Units    are assumed, continued or substituted, the Performance Share Units shall be converted, immediately prior  to the Change in Control, to a number of time-based Restricted Stock Units equal to the sum of (A) the   EPS Target Number of Performance Share Units, and (B) either of the following (1) if the Change in Control occurs in the  first year of the Performance Period, the RTSR Target Number  of Performance  Share Units, or (2) if the Change in Control occurs after the first  year of the Performance Period, a    number of Performance Share Units that would become eligible to vest based on the attainment level of    the Relative Total Shareholder Return Performance Goal calculated as of a shortened Performance Period that ends on the date immediately preceding the date of the Change in Control (the “Converted RSUs”).  The Converted RSUs shall be eligible to vest based on the  Participant’s continued Employment  through  the Regular Vesting Date. Provided that the Participant has not incurred  a Termination  prior  to the  Regular Vesting Date, the Restricted Period with respect to the Converted RSUs shall expire upon the Regular Vesting Date and any vested Converted RSUs shall be settled in accordance with Section 5 of the Agreement.

(b)In the event of a Change in Control prior to the last day of the Performance Period, to the extent the acquiring or successor entity does not assume, continue or substitute the Performance Share   Units or the stock of the acquiring or successor entity is not publicly traded, the Performance Share Units shall be replaced with a right to receive, within thirty (30) days following the  date of the Change in  Control, a cash payment equal to the sum of (i) the product of (A) the Per Share Cash Amount, multiplied  by (B) the EPS Target Number of Performance Share Units, and (ii) the product of (A) the Per Share Cash Amount, multiplied by (B) either of the following (1) if the Change in Control occurs in the first year of    the Performance Period, the RTSR Target Number of Performance Share Units, or (2) if the Change in Control occurs after the first year of the Performance Period, a number of Performance Share Units that would become eligible to vest based on the attainment of the Relative Total Shareholder Return Performance Goal calculated as of a shortened Performance Period that ends on the date immediately preceding the date of the Change in Control. The “Per Share Cash Amount” for purposes of this Section  2(b) means an amount equal to the sum of (I) the average of the closing price of the Common Stock for     the 20 trading days immediately preceding the date of the Change in Control and (II) any cash dividend payable on a share of Common Stock during the 20 trading-day period described in the foregoing.

(c)In the event of a Change in Control on or after the last day of the Performance Period but prior to the settlement of such Performance Share Units in shares of Common Stock in accordance with   this Agreement, the Participant shall receive whatever a stockholder of shares of Common Stock equal in number to the settlement amount (determined in accordance with Section 1 of this Exhibit A) would have been eligible to receive due to such Change in Control.

(d)Any Performance Share Unit that does not vest or become Converted RSUs,  as  applicable,  shall immediately be  forfeited without any further action by the Company or the Participant  and without any payment of consideration  therefor.

		
	3.
	Earning Per Share Performance  Goal

For purposes of this Agreement,

“Cumulative EPS” means the sum of the EPS for each fiscal year of the Company or portion thereof in the Performance Period.

“Earnings Per Share” or “EPS” for any period means the Company’s “adjusted net income” for such period, as publicly reported by the Company, divided by the average number of fully diluted shares    of Common Stock outstanding in such period, as publicly reported by the  Company.

“EPS Performance Percentage” means the percentage as set forth in the below  table, representing the performance level of attainment of the Earnings Per Share performance goal set forth in   the below table.

	
				
	Performance Level
	Cumulative EPS
	Percent of Target Goal
	EPS Performance Percentage

	Below Threshold
	Below $3.10
	Below 75%
	0%

	Threshold
	$3.10
	75%
	50%

	 
	Between $3.10 and $4.13
	 
	Linearly interpolate between 50% and 100%

	Target
	$4.13
	100%
	100%

	 
	Between $4.13 and $5.16
	 
	Linearly interpolate between 100% and 200%

	Maximum
	$5.16 (or higher)
	125%
	200%

		
	4.
	Relative Total Shareholder Return Performance  Goal

For purpose of this Agreement,

“Beginning Stock Price” means the average of the closing prices of the Common Stock or the shares of the Peer Group, as applicable, for the 20 trading days ending on the trading date immediately preceding the first day of the Performance  Period.
“Ending Stock Price” means the average of the closing prices of the Common Stock or the    shares of the Peer Group, as applicable, for the 20 trading days up to and including (if a trading day) the   last day of the Performance Period.

“Peer Group” means the companies that comprise the S&P Composite 1500 Health Care Index. Companies that are members of the index at the beginning of the Performance Period that subsequently cease to be listed in the index as a result of acquisitions, mergers or combinations involving  such  companies shall be excluded from the Peer Group. Companies that are members of the index at the beginning of the Performance Period that subsequently file for bankruptcy during the Performance Period shall be treated as worst performers for purposes of the Relative Total Shareholder Return Performance  Goal calculation.

“Relative Total Shareholder Return” or “RTSR” means the quotient equal to  (i) the Ending Stock Price minus the Beginning Stock Price plus assumed reinvestment as of the ex-dividend date of ordinary and extraordinary cash dividends, if any, paid by the applicable issuer during the Performance Period, divided by (ii) the Beginning Stock Price. Relative Total Shareholder Return  expressed  as  a formula shall be as follows:

(Ending Stock Price - Beginning Stock Price +    
            Relative Total Shareholder Return    =                      Assumed Dividend Reinvestment)       
                 Beginning Stock Price 

The stock prices and cash dividend payments reflected in the calculation of Total Shareholder Return     shall be adjusted to reflect stock splits during the Performance Period, and dividends shall be assumed to    be reinvested in the relevant issuer’s shares for purposes of the calculation of Total Shareholder Return.

“RTSR Performance Percentage” means the percentage as set forth in the below table, representing the performance level of attainment of the Relative  Total  Shareholder Return Performance Goal set forth in the below table.

	
			
	RTSR Percentile Rank Relative to RTSR of  Peer Group
	Performance Level
	RTSR Performance Percentage

	Below 25th Percentile
	Below Threshold
	0%

	25th Percentile
	Threshold
	50%

	Between 25th Percentile and Median
	 
	Linearly Interpolate Between 50% and 100%

	Median
	Target
	100%

	Between Median and  75th Percentile
	 
	Linearly Interpolate Between 100% and 150%

	75th Percentile and  Above
	Maximum
	150%

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