Document:

Exhibit

                                                

December 29, 2010

         MR. EDWARD ANDRLE

Dear Ed:

We herewith confirm the terms and conditions, as well as the compensation package and the allowances established for you, in connection with your expatriate assignment to Sorin S.p.A. (hereinafter “the Company”) in Milan, Italy.  For the sake of clarity, you will remain at all times an employee of Sorin Group USA, Inc.
 
The assignment will start on February 1, 2011 (or once the working VISA is obtained) until the end of the validity of said VISA (24 months with potential 12 month extension for a total of 36 months). 

1.Base Salary
In the position of Vice President, Business Development & Strategic Planning, reporting to André-Michel Ballester, Chief Executive Officer, Sorin S.p.A., your bi-weekly base salary has been set at USD $12,807.69 (which equates to $333,000.00 annually).  During your expatriate assignment, you will continue to receive base salary compensation via US payroll, specifically the payroll of Sorin Group USA, Inc.  Salary reviews will take place in accordance with the salary guidelines as established for Sorin Group.

2.Bonus
In addition to your base salary, you will be eligible to participate in Sorin Group’s Management Bonus Plan. Sorin Group’s Management Bonus Plan is based upon achievement of personal objectives and key financial measures for Sorin Group.  Your target bonus will be 50% of your year-end salary.  

3.Long-Term Incentive Plan
You will be eligible to participate in the Long Term Incentive Program under the plan directed at "Key Managers" of Sorin Group, subject to approval by Sorin S.p.A. Shareholders.  The number of shares for which you will be eligible, subject to approval, is 110,000.  The issuance of shares is contingent upon achieving Sorin Group performance objectives in terms of EBITDA Margin and Net Profit. The number of shares, plan objectives, and rules and conditions of the plan will be communicated to you following the aforementioned approval by the Shareholders.

4.Severance Pay
In the event that your employment is terminated for any reason (including change in control of the company or a sale, merger or consolidation of the business) other than for Good Cause, or should you choose to terminate employment for Good Reason, you will be eligible to receive a severance payment equal in amount to twelve (12) months salary at the time of separation from the Company.  

Notwithstanding any employee handbooks, memos or any other policies of the Company, Good Cause shall be defined as: 

Having been convicted or pleaded nolo contendere to any crime or offense (other than minor traffic violations or similar offenses), which is likely to have a material adverse impact on the business; or 

Proven failure to observe or perform any duties and obligations if that failure continues for a period of thirty (30) business days from the date of your receipt of written notice from the Company specifying the acts or omissions deemed to amount to that failure.

Good Reason shall be defined as: Change in title or significant reduction in compensation, duties, and responsibilities.

Should you choose to terminate employment with the Company without Good Reason, you will be ineligible for severance pay. You agree to provide the Company twelve (12) weeks notification of intent to terminate.

Should the Company revise its severance policy between your hire and termination dates, this agreement will supersede that policy unless this agreement is nullified in writing by you and a Company Official within sixty (60) days of the revised severance policy having been issued.

5.Social Security 
During the period of assignment, you will be kept in the US social security system.  You will also be eligible for all US retirement benefits available to Sorin Group USA, Inc. employees in the US.

6.Health  Insurance
You will be covered under US Health Insurance according to the US plans.  However, if an out of pocket expense should occur due to potential out of network residency, the Company will reimburse you up to a maximum of €4,000 per annum, upon submission of receipts.  The Company reserves the right to replace this offering in the event we institute a health insurance policy that would cover all employees on an expatriate assignment.

7.Housing / Goods & Services
The Company will provide you accommodations while you stay in Italy equivalent to €35,000 annually.  Should you choose more expensive accommodations, the excess cost will be borne by you. Any possible tax liability arising in Italy on the living accommodations will be covered under the tax equalization benefit (please see paragraphs 9, 10, & 11, below).

8.Company Car
While in Italy, you will be provided a service car in line with business needs and the Company’s Car Policy.  Separately, while in the US, you will receive a car allowance, the amount of which will be calculated by taking 

into account your specific geographical location as well as standard costs.  This allowance will be calculated and paid by the Company’s current US vehicle allowance vendor, Runzheimer.  Any possible tax liability arising in Italy on the company car will be covered under the tax equalization benefit (please see paragraphs 9, 10, & 11, below).

9.Home Country Taxes
You will be responsible to contribute the amount of US wage tax according to general practice. Thus, during your assignment period, you will not pay more nor less taxes than had you continued living and working in the US (hypothetical taxes). This method is called “Tax Equalization,” and it is an additional benefit provided by Sorin Group USA Inc. based on the advice of its US tax consultants.

10.Host Country Taxes
You will be personally responsible for filing your Italian income tax returns and for payment of taxes due while on assignment in Italy. Since you will have already fulfilled your tax obligation via hypothetical tax withheld from your income, Sorin Group USA, Inc. will pay any additional tax payable while on or resulting from your expatriate assignment. Such reimbursement may again generate taxable income to you and thus additional income tax payable. In such event, Sorin Group USA, Inc. will also reimburse you for this additional income tax. Please carefully note it is likewise your responsibility to pay back Sorin Group USA, Inc. any balance that our tax specialists deem to be your responsibility.  Your obligations under this benefit will remain regardless of your employment status at the time of your return to the US.  Sorin Group USA, Inc. reserves the right to withhold any such amounts otherwise due to you from the company if not paid by you.

11.Tax Filing Assistance
The Company will provide you with reasonable assistance of outside professional tax experts in the US and in Italy to assist you in completing and filing your home and host country tax returns, for the tax years in which you are on assignment, as well as for the full tax year immediately following the expatriate assignment.

12.US Benefits
You will be eligible to participate in the Company’s current competitive US benefit plans. Additionally, as a Vice President, you will be eligible for US executive perquisites, including:
		
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	Eligibility for executive health exams while in the US,

		
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	Participation in the Executive Deferred Compensation Plan that includes an annual employer contribution of 6% of salary regardless of whether you personally contribute to the plan,

		
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	Executive Life and Long Term Disability insurance.

You covenant and agree, and your current and continued employment is contingent upon, that by entering into this Agreement and performing the job duties hereunder, you are not and will not be in violation of any agreement or obligation to which you are subject or by which you are bound.  

The information in this letter is not intended to constitute a contract of employment, either expressed or implied.  Your employment with Sorin Group USA, Inc. is at-will and either you or the company may terminate the relationship at anytime.

Ed, we trust that these terms and conditions meet your expectations and sincerely wish you every success during your assignment. 

                                    
    

V.P. Human Resources, North America                    Director, Corporate Human Resources
(Shelby Peralta)                                (Enrico Caldera)

For acceptance:

Ed Andrle                            Date

cc: Stephane Bessette, V.P. Human Resources, WorldwideExhibit

July 23, 2014
MR. EDWARD ANDRLE
Dear Ed:
With reference to the Agreement of December 29, 2010, related to your expatriate assignment which started February 2011, we herewith confirm that the above mentioned assignment is extended from now and until February 2016. All relevant terms and conditions will remain in full force, including during the extension period, you will continue to be assigned to Sorin S.p.A. (hereinafter "the Company") while remaining at all times an employee of Sorin Group USA, Inc. Prior to the end of the extension period, we will reevaluate your assignment taking into account the Company's Expatriate Policy and business needs at such time.
Ed, we trust these terms and conditions meet with your expectations.  Please kindly sign this letter below accordingly.

_____________________________    ____________________________________
V.P., Human Resources, Worldwide    V.P., Human Resources, Corporate & USA
(Stephane Bessette)    (Shelby Peralta)
For acceptance:
___________________________________    ______________________
(Ed Andrle)    Date

	
			
	Sorin Group USA, Inc.
	Tel.:    303 425-5508
	http://www.sorin.com

	14401 W. 65th Way
	800 221-7943
	 

	Arvada, CO 80004-3599
	FAX:   303 467-6212
	 

	United States of AmericaExhibit

January 2013

Private & Confidential

Mr. Pritpal Shinmar
21 Cheyham Way
Cheam, Surrey
SM2 7HX
United Kingdom

Dear Mr. Shinmar,

It is with great pleasure I outline below the offer of employment within Sorin Group UK Ltd. 

		
	Position
	Vice President,  Global Health Economics and Reimbursement

		
	Start Date 
	January 7 2013

		
	Holiday entitlement
	Holiday entitlement is based on a full 12 months’ employment and is 24 days.  Your 2013 entitlement will be pro rata from your date of commencement with the Company.

The details of this offer and the terms of your contract of employment are further outlined in the accompanying Terms and Conditions of Employment.  Please sign and return the enclosed copy of this letter to me, together with the Terms and Conditions of Employment to confirm your acceptance of this offer at the earliest opportunity. 

We hope this is an offer you feel acceptable and we all look forward to welcoming you to Sorin Group UK Ltd. 

Yours sincerely

Joop Jansen
HR UK, Benelux, Nordics and Iberia

I accept the offer of employment as explained above and, in accordance, with the terms set out in the accompanying statement, a copy of which I am returning with this letter.

Signed:   _________________________        Date:  ___________________

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STATEMENT OF TERMS AND CONDITIONS OF EMPLOYMENT

This document is a summary of the agreed contractual terms between Sorin Group UK Ltd (hereafter referred to as the Company) and the employee named below (hereafter referred to as the employee).  The document is also a statement of terms and conditions as required by all employees under the provisions of section 1 (1-5) of the Employment Rights Act 1996.  The Company has produced a Company Handbook which it is important that you read and fully understand. 

Full name of employee:        Pritpal Shinmar    
Employer:                Sorin Group UK Ltd
Place of work:             For administrative purposes only, your place of work shall be at the company’s office in the United Kingdom. Your position will require your presence at our Company Headquarters in Milan (Italy) on a regular basis, and frequent travels.
		
	Reporting to:
	CEO

		
	Contract type:
	Permanent 

1. Effective date
Your date of commencement in this new role will be January 7 2013 

Your first six months of employment will be a probationary period. The Company reserves the right to extend the probationary period, at their discretion, for up to 9 months.

2. Payment
Your basic salary will be £200.000,- per annum.  This sum will be paid in monthly equal payments by bank transfer, on the 25th day of each month.

Your salary will be subject to annual pay reviews, with any increase in salary being at the discretion of the Company.

3. Company Bonus Scheme
You will be entitled to a variable compensation (“Variable Compensation”) equivalent to 35% of Base Salary of the reference year, as per at point 2, upon 100% achievement of the assigned targets. Any Variable Compensation shall be subject to the achievement of both Sorin Group’s targets and personal objectives, which shall be established on an annual basis with reference to the then applicable policy for incentives and bonuses. Details of the
applicable policy for incentives and bonuses currently applicable will be provided separately. For 2013 your Variable Compensation will be pro rata based on your date of commencement.

4. Long Term Incentive

You shall be eligible to participate in the Long Term Incentive Program, based on

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performance shares, under the plan directed at "Key Managers" of Sorin Group, subject to approval by Board of Directors of Sorin S.p.A. The issuance of shares is contingent upon achieving Sorin Group performance objectives. The number of shares you will be eligible to receive, plan objectives, and rules and conditions of the plan will be communicated to you following the aforementioned approval by Board of Directors of Sorin S.p.A.

5. Company Car

You will receive  a car ‘cash’ allowance of £ 980,- per month, in lieu of a Company vehicle.  

6. Hours of work
Your paid hours of work will be 35 per week, 0900h to 1700h. 
However, due to the nature of your position, you are expected to increase your hours/change your working pattern on some occasions in order to meet the needs of the business without payment of over-time.  

You should note there is occasionally a need to work at weekends, usually to support business related activity such as conferences and symposiums.  Where this is the case, you will be granted reasonable compensatory rest.  The company will strive to give reasonable notice of any changes to your normal working week, so as to minimize any personal inconvenience.

7. Rest breaks
Full time employees are entitled to 1 x 60 minute lunch break, Monday to Friday inclusive, which is unpaid.  This is pro-rata for part-time employees.  This should be implemented with discretion, in line with total daily working hours.

8. Holiday entitlement
Sorin Group UK Ltd employees are entitled to 24 days’ paid holiday in any complete holiday year that runs from January to December. (This is pro‐rata for part-timers depending on the number of days normally worked).  Entitlement will be adjusted pro-rata for any part year work, calculated at 2 days per completed month of service.  

Holiday entitlement should be used in the corresponding holiday year, as detailed in the Company Employee Handbook. 

Holiday entitlement will increase with length of service, as detailed in the Company Employee Handbook, to a maximum of 29 days. The time at which holiday can be taken is subject to operational requirement and holiday must be 
approved and signed off by your line manager in advance.  As a general rule, three weeks’ notice should be given for requests for holidays, but the Company endeavours to adopt a flexible attitude dependent upon individual circumstances.  

Should you be sick during any period of holiday taken, such period of sickness will be counted as part of your annual leave.

On leaving the Company, if you have taken more holiday entitlement than you have accrued up to your leave date, then the Company shall be entitled to deduct the equivalent money from your final 

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salary payment.  Any holiday owing will be taken either prior to termination of contract or will be given as a payment in lieu as authorised by your line manager.

9. Absence and sick pay
The procedures and policies that apply to the notification of sickness absence and the arrangements for pay are detailed in the Company Employee Handbook.  It should be noted that full company sick pay is paid at the discretion of management.  Full sick pay will be paid only after successful completion of your probationary period. 

10. Medical Insurance and Medical evidence of fitness to work
The company has private medical insurance for all employees currently provided by BUPA and you will be invited to join this immediately upon joining the Company.  

Employees are required to declare significant medical conditions requiring hospital admission and prolonged medication.  The Company reserves the right to require you to undergo medical examination at any time (at the Company’s expense) by doctor(s) appointed by the Company for any purpose related to your employment with the Company.

11. Pensions/benefits
After three months’ employment with the Company, you will be invited to join the Company’s pension scheme and the Company will contribute 15 % of your monthly gross salary and bonus payments.  This does not include commission or other payments such as car allowance.  The particulars of the terms and conditions relating to this and all other Company benefits can be found in the Company Employee Handbook.  

Details of the policies concerning compassionate leave, maternity leave and jury service and other forms of special leave are also listed in the Employee Handbook.
11.a Life and Travel Assurance 
You are covered by the Company’s Life and travel Assurance. You will receive a copy of the details of the policy.

12. Notice periods/leaving the company
You will be required to give 3 months’ notice in writing of the termination of your
contract of employment.  The Company will similarly give you 3 months’ notice in
writing of the termination of your contract of employment for any reason other
than gross misconduct.  This will not affect your statutory rights under UK legislation, which entitles you to one week’s notice for each year of employment
up to a maximum of 12 weeks.  During the probationary period, rthe notice period will be  one month’s notice on either side.

In cases of gross misconduct no notice will be given.
Should you leave without notice or during your notice period (whether notice is served by you or the Company) without the permission of the Company, the Company reserves the right to deduct a day’s pay for each day not worked during the notice period, including deductions from wages, accrued holiday pay, or other monies due to you and/or non payment of wages due to you.

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The Company reserves the right in its absolute discretion to terminate your employment by paying you in lieu of notice. The payment shall be your basic salary at the rate payable when the option is exercised without taking into account any bonus, pension contributions or benefits in kind and shall be subject to deductions for income tax and National Insurance contributions as appropriate. You will not under any circumstances have any right to payment in lieu unless the Company has exercised its option to pay in lieu by notice to you.

If either you or the Company serves notice on the other to terminate your employment the Company may require you to take “garden leave” for all or 
part of the remaining period of employment. If you are required to take garden leave you:
		
	•
	may not attend your place of work or any other premises of the Company or any associated company;

		
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	may be asked to resign immediately from any offices you hold in the Company or any associated company;

		
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	may not be required to carry out duties during the remaining period of your employment;

		
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	must return to the Company all documents and other materials (including copies) belonging to the Company or associated companies containing confidential information;

		
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	may not without the prior written permission of the Company contact or attempt to contact any client, customer, supplier, agent, professional advisor, broker or banker of the Company or any associated company or any employee of the Company or associated company.

During any period of garden leave you will continue to receive your full salary and benefits.

The normal retirement age for your role is currently 65.  Your employment will automatically terminate at the end of the month in which you attain the normal retirement age.  

13. Collective agreement
Your contract of employment is not subject to any collective agreements between a Trade Union and the Company.

14. Disciplinary and appeal rules and procedure
The disciplinary rules which apply to you can be found in the Company Employee Handbook. They do not form part of your contract of employment.  If you are dissatisfied with any disciplinary decision that affects you, you should apply in first instance to your immediate line manager or the HR Manager, as appropriate.  All applications should be made in writing within 7 days of the decision.

15. Grievance procedure
Full details of the grievance procedure are outlined in the Company Employee Handbook. The grievance procedure does not form part of your contract of employment.  If you have a grievance about your employment you should, in the first instance, raise it with your line manager or where this is not appropriate, with the HR Manager. 

16. Non competition

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Upon establishment of your employment with the Company, you shall enter into a noncompetition, and a non-solicitation covenant, which will each apply for a period of 12 months following the termination date of your employment, irrespective of the reasons for termination of your employment. The decision to exercise or not exercise this right will be communicated in writing to you.
The non-competition covenant shall apply at the Company’s sole and exclusive option and shall include restrictions on the performance of professional activities for competitors operating in the business of Heart Valves (mechanical, tissue and sutureless valves, annuloplasty rings for prosthetic replacement and valve repair), Cardiopulmonary (heart-lung machines, oxygenators, autotransfusion systems), Cardiac Rhythm Management (implantable cardiac defibrillator, pacemakers, cardiac resynchronization therapy systems, arrhythmia assessment systems), Heart Failure or Mitral Valve Regurgitation and shall apply in Europe, Japan and the United States. In addition, and pursuant to a second covenant, for a period of twelve months following the termination date of your employment, you shall not directly or indirectly solicit or induce or attempt to solicit or induce any employee, representative or consultant of the Company to terminate their employment or other association with the Company.
During the period of validity of the above non competition covenant(s) you shall be entitled to compensation equivalent to 80% of your Base Salary in force at the time of the termination of your employment. It is understood that such payment shall not be owed to you in the event the Company should decide not to exercise its right to the non-competition covenant.

18. Confidentiality
You shall not, except as authorised by the Company or required by your duties under your employment contract, use for your own benefit or gain or divulge to any persons, firm, company or organisation whatsoever any of the trade secrets or any other confidential information of the Company, or any of its associated companies, including in particular but not limited to information about business plans, maturing new business opportunities, research and development projects, product formulae, processes, plant and equipment inventions, designs, discoveries or know-how, sales, statistics, marketing surveys and plans, database of placements or any information relating to the identity of the placements, cost profit or loss, prices and discount structures, training materials, Company turnover, the names addresses and contact details of customers and potential customers or suppliers and potential suppliers (whether or not recorded in writing or on computer disk or tape) which the Company or any of its associated companies treats as confidential. This restriction shall cease to apply to any information or knowledge, which may subsequently come into the public domain other than by way of unauthorised disclosure.
All confidential records, documents and other papers, together with any copies or extracts thereof, made or acquired by you in the course of your employment shall be the property of the Company and must be returned to the Company on the termination of your employment or commencement of garden leave if applicable.

19. Variation to standard and other terms and conditions
The Company reserves the right to make reasonable changes to these and any other agreed terms and conditions of employment.  Minor changes of detail (e.g. in procedures) may be made from time to time and will be effected by a general notice to employees.  You will be given not less than one month’s written notice before significant changes are made.  

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20. Data Protection
You agree that personal data (other than sensitive personal data) as defined in the Data Protection Act 1998, relating to you and your employment may be processed by the Company to the extent that it is reasonably necessary in connection with your employment or the business of the Company.

You agree that the Company may process sensitive personal data relating to you, including medical details and details of gender, race and ethnic origin.  Personal data relating to gender, race and ethnic origin will be processed by the Company only for the purpose of monitoring the Company’s equal opportunities policy.  You agree that the Company may disclose or transfer such sensitive personal data to other persons if it is required or permitted by law to do so for the purpose of monitoring the Company’s equal opportunity policy.

Your consent to the transfer and disclosure of personal data as set out above shall apply regardless of the country of residence of the person to whom the 
data is to be transferred.  Where the disclosure or transfer is to a person resident outside the European Economic Area, the Company shall take reasonable steps to ensure that your rights and freedom in relation to the processing of the relevant personal data are adequately protected.

You agree that the Company and any associated companies to which you provide services may intercept and monitor communications sent via any private telecommunication systems or services of the Company or any such associated Company.

21. Choice of law
This agreement and any dispute or claim arising out of or in connection with it shall be governed by and construed in accordance with English law.

All disputes or claims arising out of or relating to this Agreement shall be subject to the exclusive jurisdiction of the English courts to which the parties irrevocably submit.

Signed on behalf of the Company:                                   

Stéphane Bessette                        Giulio Cordano
Vice President, Human Resources Worldwide        Group Accounting Officer

I have read the above terms and conditions and accept them as being part of my contract.

Signed:  _________________________        Date:  ______________________

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