Document:

Exhibit

Exhibit 10.46

LIVANOVA PLC

ALISTAIR SIMPSON

SEPARATION AND SETTLEMENT AGREEMENT

THIS SEPARATION AND SETTLEMENT AGREEMENT (the “Agreement”) is made on ______ November 2019
BETWEEN
(1)    LIVANOVA PLC, a company registered in England with registered number 09451374 and having its registered office at 20 Eastbourne Terrace, W2 6LG London  (the “Company”); and

(2)    ALISTAIR SIMPSON, residing at 37 Sydney Road, Richmond, TW9 1UB (the “Executive”).
BACKGROUND
The Company has employed the Executive as General Manager, Cardiac Surgery since 10 April 2017 under the terms of a Service Agreement dated 28 February 2017 as varied by the parties prior to the date of this Agreement (the “Service Agreement”).  Contemporaneous with the reorganization of the Company effective on 1 January 2020, pursuant to which the Company will no longer operate under a structure with a Cardiac Surgery franchise, Executive and the Company desire to plan for Executive’s transition to a new position with the Company and for Executive’s eventual separation from the Company.
IT IS AGREED as follows:
		
	1.
	DEFINITIONS AND INTERPRETATION

		
	1.1
	Definitions

In this Agreement, unless the context otherwise requires:

1

	
		
	“the Acts”
	means the Employment Rights Act 1996 section 203(3) and the Equality Act 2010, section 147;

	“Claims”
	means the claims that the Executive believes that he has against the Company or any Group Company or against any of its or their respective shareholders, officers, employees or agents, being:
(a)    for breach of contract arising out of his employment, or termination of the employment, or otherwise (save in relation to the enforcement of this Agreement);
(b)    for unfair dismissal under the Employment Rights Act 1996;
(c)    in relation to unauthorized deductions from wages;
(d)    for discrimination, harassment or victimisation on the grounds of age, sex, race or nationality or any other unlawful ground, pursuant to the Equality Act 2010;
(e)    for breach of contract or any other rights to or in respect of shares or other securities or securities based incentives in the Company or any Group Company; 
(f)    for unlawful detriment under the Employment Rights Act 1996; and 
(g)    under the Public Interest Disclosure Act 1998.

	“Effective Date”
	means 12:01 a.m. on 1 January 2020;

	“Employment”
	means the employment of the Executive under this Agreement or, as the context requires, the duration of that employment;

	“Group”
	means the Company, any presently existing or future holding company or undertaking of the Company and any presently existing or future subsidiaries and subsidiary undertakings of the Company or such holding company or undertaking (and the words “subsidiary” and “holding company” shall have the meanings given to them in section 1159 in the Companies Act 2006); and

	“Group Company”
	means any company within the Group.

	“Post-Employment Notice Pay”
	has the meaning given in section 402D of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA).

	“Post-Employment Notice Period”
	has the meaning given in section 402E(5) of ITEPA.

	“Termination Date”
	means 30 June 2021.

		
	1.2
	Interpretation and Construction

Save to the extent that the context or the express provisions of this Agreement require otherwise, in this Agreement:
		
	(a)
	words importing the singular shall include the plural and vice versa;

		
	(b)
	words importing any gender shall include all other genders;

		
	(c)
	words importing the whole shall be treated as including reference to any part of the whole;

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	(d)
	any reference to a Clause, the Schedule or part of the Schedule is to the relevant Clause, Schedule or part of the Schedule of or to this Agreement unless otherwise specified;

		
	(e)
	reference to this Agreement or to any other document is a reference to this Agreement or to that other document as modified, amended, varied, supplemented, assigned, novated or replaced from time to time;

		
	(f)
	reference to a provision of law is a reference to that provision as extended, applied, amended, consolidated or re-enacted or as the application thereof is modified from time to time and shall be construed as including reference to any order, instrument, regulation or other subordinate legislation from time to time made under it;

		
	(g)
	references to a “person” includes any individual, firm, company, corporation, body corporate, government, state or agency of state, trust or foundation, or any association, partnership or unincorporated body (whether or not having separate legal personality) or two or more of the foregoing;

		
	(h)
	general words shall not be given a restrictive meaning because they are followed by words which are particular examples of the acts, matters or things covered by the general words and “including”, “include” and “in particular” shall be construed without limitation; and

		
	(i)
	the meaning of any words coming after “other” or “otherwise” shall not be constrained by the meaning of any words coming before “other” or “otherwise where a wider construction is possible.

		
	1.3
	Headings

The table of contents and the headings in this Agreement are included for convenience only and shall be ignored in construing this Agreement.
		
	2.
	TERMS OF EMPLOYMENT DURING TRANSITION PERIOD

		
	2.1
	The Service Agreement

The terms of the Service Agreement shall remain in full force and effect except to the extent modified by or inconsistent with this Agreement.
		
	2.2
	Transition to New Position

		
	2.2.1
	On the Effective Date, and pursuant to the Executive’s execution of this Agreement, the Executive will resign his position as General Manager, Cardiac Surgery and assume the position as Vice President, Special Projects.  Between the Effective Date and 1 January 2020, Executive agrees to assist with the transition of his current responsibilities to a successor appointed by LivaNova Plc.

		
	2.2.2
	For fiscal year 2019, Executive shall receive his annual bonus, the target amount of which is 60% of his annual base salary, no later than April 30, 2020 according to the terms of the 2019 ELT Short-Term Incentive Plan.

		
	2.3
	EMPLOYMENT AS VICE PRESIDENT, SPECIAL PROJECTS

As Vice President, Special Projects, Executive shall report to Ryan Miller, Vice President, Strategy or someone designated by Mr. Miller (“Manager”) and assist in the execution of Project Electron or such other projects as determined by the Manager.

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	2.3.1
	Executive’s annual basic salary as Vice President, Special Projects shall be £340,000 (“the Salary”), payable monthly, less amounts withheld as required by law or as requested or agreed by Executive. The Company shall pay the Salary to the Termination Date or Early Termination Date, as applicable, in the usual way, and shall continue to provide the Executive with benefits in the usual way up to the Termination Date or Early Termination Date, as applicable. 

		
	2.3.2
	Executive shall be eligible to receive an annual bonus for fiscal year 2020, the target amount of which is 60% of his annual basic salary, payable in April 2021 according to the terms of the 2020 ELT Short-Term Incentive Plan, which is subject to the approval of the Compensation Committee of the LivaNova Plc Board of Directors in the first quarter of fiscal year 2020.

		
	2.3.3
	Executive shall not be eligible to participate in the 2021 ELT Short-Term Incentive Plan or any other short-term incentive plan offered to employees of the Company in fiscal year 2021.

		
	2.3.4
	Executive shall not be eligible to receive any equity awards under the LivaNova Plc 2015 Incentive Award Plan after the Effective Date.

		
	2.4
	Termination Date

Executive’s last day of employment shall be the Termination Date, unless terminated earlier in accordance with Clause 18 of the Service Agreement or Clause 2.5 of this Agreement.
		
	2.5
	Early Termination Option

Executive shall have the option to terminate his employment on any date (“Early Termination Date”) prior to the Termination Date following completion of Project Electron and delivery of written notice to the Company at least two weeks in advance thereof (“Early Termination Option”).
		
	2.6
	Restrictions During Employment and After Termination of Employment

		
	2.6.1
	Prior to the earlier of the Termination Date or the Early Termination Date, Executive agrees to adhere to the terms of Clause 15 (Restrictions During Employment) of the Service Agreement.

		
	2.6.2
	During the Employment and at any time (without limitation) after the earlier of the Termination Date or the Early Termination Date, Executive agrees to adhere to the terms of Clause 16 (Confidentiality and Company Documents) of the Service Agreement.

		
	2.6.3
	If Executive elects the Early Termination Option, he agrees to adhere to the terms of Clause 20 (Restrictions After Termination) of the Service Agreement through and including the Termination Date, after which the Company hereby waives enforcement of Clause 20.  If Executive continues the Employment through the Termination Date, the Company hereby waives enforcement of Clause 20.

		
	2.6.4
	Executive acknowledges and agrees that nothing in this Agreement is intended to or does prevent him from: 1) filing a charge or complaint with any governmental agency or regulatory body (including, but not limited to, the United States Equal Employment Opportunity Commission, National Labor Relations Board, Occupational Safety and Health Administration, or Securities and Exchange Commission) or 2) disclosing information for the purpose of making a protected disclosure within the meaning of Part IVA of the Employment Rights Act 1996 (Protected Disclosures), provided that the disclosure is made in accordance with the provisions of that Act.

		
	3.
	CONSIDERATION

		
	3.1
	Early Termination Payment

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In the event that Executive elects to exercise the Early Termination Option, the Company shall, within 30 days following the Early Termination Date, make: a lump-sum payment to Executive, less deductions required by law or approved by Executive, equal in amount to the basic salary and bonus Executive would have received between the Early Termination Date and the Termination Date had he remained employed until the Termination Date; provided that, any bonus amount due Executive under this section shall be payable no earlier than the date on which amounts payable under the 2020 ELT Short-Term Incentive Plan are determined and paid to plan participants.
		
	3.2
	Equity Awards

Executive’s equity awards unvested as of the Effective Date shall continue to vest through the earlier of the Termination Date or the Early Termination Date.  All equity awards not vested as of that date shall lapse.
		
	3.3
	Relocation Expenses

The Company will pay, or reimburse the Executive for, reasonable relocation expenses, not to exceed £40,000, incurred by the Executive in 2019 and 2020 relating to his relocation from the United Kingdom to the United States.  Relocation expenses are the direct payment or reimbursement of costs directly related to 1) moving Executive’s (and his family’s) personal and household goods and furniture from Executive's main family residence in United Kingdom to the family’s residence in the United States; 2) a one-way economy flight from the United Kingdom to the United States for both the Executive and his partner; and 3) relocating the Executive’s family pet, a dog, from the United Kingdom to the United States.
		
	3.4
	Attorney Fees

The Company shall pay the reasonable legal fees (up to a maximum of  £5,000 (inclusive of disbursements and VAT)) incurred by the Executive in obtaining advice on the termination of their employment and the terms of this agreement, such fees to be payable to the Executive’s solicitors on production of an invoice addressed to the Executive but marked as payable by the Company.
		
	3.5
	Future Inquiries

Executive shall direct all inquiries from prospective employers to Human Resources, who will advise said prospective employers of Executive’s dates of service and positions held.
		
	3.6
	Tax support

The Company shall pay the reasonable legal fees incurred by the Executive in obtaining advice on tax advice, support or assistance for one year from the Termination Date, such fees to be payable to the Executive’s accountants or tax advisers on production of invoices addressed to the Executive but marked as payable by the Company. 
		
	3.7
	Satisfaction of Payment in Lieu of Notice

Executive agrees that the terms of Clauses 2 and 3 of this Agreement are intended to satisfy, and do in fact satisfy, the Company’s obligations under Clauses 3.2 (Duration and Notice) and 3.3 (Payment in Lieu of Notice) of the Service Agreement.  Executive expressly agrees that, upon termination of the Employment, the Company shall have no obligation to make a payment in lieu of notice to Executive and shall have no obligation to make any other payment to Executive except as expressly described in Clauses 2 and 3 of this Agreement.
		
	4.
	MISCELLANEOUS TERMS

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	4.1
	Waiver and Release of Claims

		
	4.1.1
	Executive agrees that the terms of this Agreement are in full and final settlement of the Claims which the Executive may have as of the date of this Agreement, each of which is hereby intimated and waived.

		
	4.1.2
	The waiver in clause 4.1.1 does not apply to:

		
	(a)
	any claims for personal injury other than (a) where Executive is currently aware of any facts or circumstances which do or may give rise to the claim and (b) those which may be brought under any discrimination legislation;

		
	(b)
	any claims by Executive to enforce this Agreement; and

		
	(c)
	any claims for any accrued pension rights.

		
	4.1.3
	Executive acknowledges that the conditions relating to settlement agreements under the Acts have been satisfied and that he has received independent legal advice and shall deliver on execution of this Agreement a certificate signed by his independent legal adviser in the form attached hereto as Schedule 1.  

		
	4.1.4
	Executive shall as a strict condition of this Agreement within the 7-day period preceding the earlier of the Termination Date or the Early Termination Date deliver  to the Company’s Senior Vice President and General Counsel the signed Reaffirmation  Waiver and Release of Claims, attached hereto as Schedule 2.  Executive acknowledges that the Company has relied on the obligation in this clause 4.1.4 when entering into this Agreement and the Consideration set out in clause 3 above is conditional upon Executive's compliance with his obligations under this Agreement, including the obligation contained within this clause 4.1.4 .   .

		
	4.2
	Mutual Non-disparagement

Executive agrees not to disparage, demean or defame the Company or its affiliates, their products, services or employees in any way.  The Company agrees not to disparage, demean or defame Executive in any way.
		
	4.3
	Mutual Release of Claims

By entering into this Agreement, the Company releases the Executive from any and all claims against the Executive which the Company might otherwise assert.
		
	4.4
	Governing Law and Courts

This Agreement is governed by and shall be construed and enforced, in all respects, in accordance with English law and under the jurisdiction of the English courts.
		
	4.5
	Entire Agreement

		
	4.5.1
	This Agreement and the documents referred to in it constitute the entire agreement and understanding of the parties and supersede and extinguish all previous agreements, promises, assurances, warranties, representations and understandings between the parties, whether written or oral, relating to the subject matter of this Agreement.

		
	4.5.2
	Each party acknowledges that in entering into this Agreement it does not rely on, and shall have no remedies in respect of, any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in this Agreement.

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	4.5.3
	Each party agrees that it shall have no claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this Agreement.

		
	4.5.4
	Nothing in this Clause shall limit or exclude any liability for fraud.

		
	4.6
	Company property

		
	4.6.1
	The Executive shall, before the Termination Date or Early Termination Date (whichever applies in the circumstances), return to the Company:

		
	(a)
	all property belonging to the Company in satisfactory condition including (but not limited to) any car (together with the keys and all documentation relating to the car), fuel card, company credit card, keys, security pass, identity badge, mobile telephone, pager, lap-top computer or fax machine; and

		
	(b)
	all documents and copies (whether written, printed, electronic, recorded or otherwise and wherever located) made, compiled or acquired by the Executive during their employment with the Company or relating to its business or affairs or business contacts

		
	4.7
	The Executive shall, before the Termination Date or Early Termination Date (whichever applies in the circumstances), erase irretrievably any information relating to the Company’s affairs or business from any computer and communications systems and devices owned or used by the Executive outside its premises, including such systems and data storage services provided by third parties (to the extent technically practicable).

		
	4.8
	Notices

All notices required or permitted to be given under this Agreement shall be in writing and shall be deemed effectively given:  (i) upon personal delivery to the party to be notified; (ii) when sent by confirmed facsimile if sent during normal business hours of the recipient, if not, then on the next business day; or (iii) on delivery by an internationally recognized overnight courier, with written verification of receipt.  All communications shall be sent to the address set forth below or at such other address as the Company or Executive may designate by ten (10) days advance written notice to the other party.
In the case of the Company to:
20 Eastbourne Terrace
London, W2 6LG
United Kingdom
Attention:  Senior Vice President & General Counsel
Facsimile:  +44 20 3325 0696

In the case of Executive to:  
37 Sydney Road
Richmond
TW9 1UB
United Kingdom
Facsimile:  +44 20 3325 0696

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Schedule 1- CERTIFICATE OF INDEPENDENT LEGAL ADVISER
I ________________________ whose address is ______________________________________ confirm that I gave independent legal advice to Alistair Simpson of 37 Sydney Road, Richmond, TW9 1UB as to the terms and effect of the Agreement to which this certificate is attached  in particular as to its effect on his ability to pursue his rights, in particular the Claims specified in clause 4.1.1 before a Court of competent jurisdiction or Employment Tribunal.

I confirm that I am a solicitor of the Senior Courts holding a current practising certificate and that the statutory requirements relating to settlement agreements set out in the Acts (as defined in the Agreement) have been met.  I confirm further, that there was in force at the time I gave the advice referred to above a policy of insurance covering the risk of a claim by Alistair Simpson in respect of any loss arising in consequence of that advice.
Signed:  
Dated: 

8

WITHOUT PREJUDICE AND SUBJECT TO CONTRACT

SCHEDULE 2 – REAFFIRMATION WAIVER AND RELEASE OF CLAIMS
This Reaffirmation Waiver and Release of Claims (“Release”) is made on ___________________________________by Alistair Simpson (“Executive”) in connection with the Employee’s separation from employment on ______________________________________.
NOW THEREFORE, in consideration of the mutual promises described in the Separation and Settlement Agreement dated ______ November 2019 ("the Separation and Settlement Agreement"), to which this Release is appended as Schedule 2, Executive agrees as follows.
		
	1.
	DEFINITIONS

Definitions
In this Release, unless the context otherwise requires:
	
		
	“the Acts”
	means the Employment Rights Act 1996 section 203(3) and the Equality Act 2010, section 147.

	“Claims”
	means the claims that the Executive believes that he has against the Company or any Group Company or against any of its or their respective shareholders, officers, employees or agents, being:
(a)    for breach of contract arising out of his employment, or termination of the employment, or otherwise;
(b)    for unfair dismissal under the Employment Rights Act 1996;
(c)    in relation to unauthorized deductions from wages;
(d)    for discrimination, harassment or victimisation on the grounds of age, sex, race or nationality or any other unlawful ground, pursuant to the Equality Act 2010;
(e)    for breach of contract or any other rights to or in respect of shares or other securities or securities based incentives in the Company or any Group Company; 
(f)    for unlawful detriment under the Employment Rights Act 1996; and 
(g)    under the Public Interest Disclosure Act 1998.

	“Group”
	means the Company, any presently existing or future holding company or undertaking of the Company and any presently existing or future subsidiaries and subsidiary undertakings of the Company or such holding company or undertaking (and the words “subsidiary” and “holding company” shall have the meanings given to them in section 1159 in the Companies Act 2006).

	“Group Company”
	means any company within the Group.

1

		
	2.
	WARRANTIES

		
	2.1
	The Executive warrants that:

		
	(a)
	he has not raised any legal proceedings against the Company or any Group Company or against any of its or their respective shareholders, officers, employees or agents; and

		
	(b)
	other than the Claims, as of the date of this Release, he has no further or outstanding claims or rights of action, being any further or outstanding claims or rights of action, whether under statute or common law (including contractual, tortious or other claims) and whether before an Employment Tribunal, court or otherwise and whether in the UK or any other jurisdiction in the world against the Company or any Group Company or any of its or their respective shareholders, officers, employees or agents including in respect of or arising out of his employment, or the holding of any office with or investment in the Company or any Group Company or the termination of that employment or office (such claims or rights of action referred to as “Further Claims”). 

		
	2.2
	The Executive warrants as a strict condition of the Company's obligation to honour the terms of clause 3 of the Agreement  under this Release that there are no circumstances of which he is aware or of which he ought to be aware which could constitute a repudiatory breach by him of his contract of employment which would entitle or have entitled the Company to terminate his employment without notice.

		
	3.
	SETTLEMENT

		
	3.1
	Subject to clause 3.3, the Executive accepts the terms of this Release in full and final settlement of the Claims and all and any Further Claims, whether such claims are known or unknown to the parties and whether or not they are or could be in the contemplation of the parties at the date of this Release, which are waived and released in full.  Executive acknowledges that the conditions relating to settlement agreements under the Acts have been satisfied and that he has taken independent legal advice and shall deliver on execution of this Release a confirmation of advice certificate signed by his independent legal adviser in the form attached hereto.

		
	3.2
	The Executive undertakes not to institute or pursue any proceedings against the Company or any Group Company or against any of its or their respective shareholders, officers, employees or agents before an Employment Tribunal, court or any other judicial body anywhere in the world in respect of the Claims or for any remedy arising from any Further Claims.

		
	3.3
	The waiver in clause 3.1 above  does not apply to:  (a) any claims for personal injury other than (a) where Executive is currently aware of any facts or circumstances which do or may give rise to the claim and (b) those which may be brought under any discrimination legislation; (b) any claims by Executive to enforce this Agreement; or (c) any claims for any accrued pension rights.  In respect of  latent personal injuries and/or any latent industrial disease arising out of the course of his employment with the Company and/or the Group that are currently unknown to him, the Executive warrants that he is not aware of having any such personal injuries.  These exceptions are the only claims which have not been settled by this Release.

		
	3.4
	Subject to the terms of Clause 3.3, if any other claim emerges in law or in fact anywhere in the world based on anything done or omitted to be done during the period of the Executive’s employment by the Company which was not previously known or foreseeable by the Executive, then the Executive agrees that there should be no recourse to any remedy for the claim against the Company or any Group Company.  The Executive acknowledges and accepts that in agreeing to the severance arrangements set out in Clause 3 of the Separation and Settlement Agreement 

1

he has taken into account that he has waived the right to pursue any such claims, whether foreseeable or not previously known, against the Company or any Group Company.

Confirmation of advice for Reaffirmation Waiver and Release of Claims

I ________________________ whose address is ______________________________________ confirm that I gave independent legal advice to Alistair Simpson of 37 Sydney Road, Richmond, TW9 1UB as to the terms and effect of the above Release to which this certificate is attached  in particular as to its effect on his ability to pursue his rights, in particular the Claims and Further Claims specified in clause 3.1 above before a Court of competent jurisdiction or Employment Tribunal.

I confirm that I am a solicitor of the Senior Courts holding a current practising certificate and that the statutory requirements relating to settlement agreements set out in the Acts (as defined in the Agreement) have been met.  I confirm further, that there was in force at the time I gave the advice referred to above a policy of insurance covering the risk of a claim by Alistair Simpson in respect of any loss arising in consequence of that advice.
Signed:  
Dated:

2

IN WITNESS of which this Release has been executed and delivered as a deed on the first date written above.

EXECUTED as a Deed
by ALISTAIR SIMPSON
		
	 
	_________________________________

Alistair Simpson
in the presence of:

Witness’s
		
	Signature:
	_________________________________

		
	Full Name:
	_________________________________

		
	Address:
	_________________________________

_________________________________
_________________________________

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IN WITNESS of which this Agreement has been executed and delivered as a deed on the first date written above.

		
	EXECUTED as a Deed by
	_________________________________

		
	DAMIEN McDONALD,
	Damien McDonald

Chief Executive Officer,
for and on behalf of 
LIVANOVA PLC
in the presence of a Witness

_________________________________
Witness

		
	Full Name:
	_________________________________

		
	Address:
	_________________________________

_________________________________
_________________________________

EXECUTED as a Deed by
		
	ALISTAIR SIMPSON
	_________________________________

		
	in the presence of a Witness
	Alistair Simpson

_________________________________
Witness

		
	Full Name:
	_________________________________

		
	Address:
	_________________________________

_________________________________
_________________________________

4Exhibit

Exhibit 10.47
Execution Copy

Separation Agreement
This Agreement by and between Edward S. Andrle (“Executive”), a resident of Houston, Texas, and LivaNova USA, Inc. (“LivaNova” or “Company”), a Delaware corporation, is made and effective on the           day of December, 2019 (“Effective Date”) (“Company” and “Executive” collectively “Parties”).
I.GENERAL RECITALS:
WHEREAS, as of the Effective Date, Executive is employed by LivaNova as General Manager, Neuromodulation based in Houston, Texas;
WHEREAS, Executive’s employment relationship with the Company is governed by the terms of the following documentation (collectively, the “Employment Documentation”) to the extent currently applicable:
		
	1.
	Letter Agreement dated August 30, 2010 between Executive and Sorin Group USA, Inc.;

		
	2.
	Expatriate Assignment Letter dated December 29, 2010 between Executive and Sorin S.p.a.;

		
	3.
	Expatriate Assignment Extension Letter dated July 23, 2014 between Executive and Sorin S.p.a.;

		
	4.
	Severance Agreement dated February 26, 2015 between Executive and Sorin S.p.a.; and

		
	5.
	Repatriation Letter Agreement dated December 22, 2015 between Executive and LivaNova Plc;

WHEREAS, Executive and the Company desire to plan for Executive’s transition to a new position with the Company and for Executive’s eventual separation from the Company;
II.    SPECIFIC TERMS:
NOW THEREFORE, for a good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Executive and LivaNova agree as follows:
A.    Terms of Employment During Transition Period:
		
	1.
	Transition to New Position.  Effective at 12:01 a.m. on January 1, 2020, and pursuant to the Executive’s execution of this Agreement, the Executive will resign his position as General Manager, Neuromodulation and assume the position as Senior Advisor, continuing to be employed by the Company.  Between the Effective Date and January 1, 2020, Executive agrees to assist with the transition of his current responsibilities to a successor appointed by LivaNova Plc.

		
	a)
	For fiscal year 2019, Executive shall receive his annual bonus, the target amount of which is 65% of his annual base salary, no later than April 30, 2020 according to the terms of the 2019 ELT Short-Term Incentive Plan.

		
	2.
	Employment as Senior Advisor.  As Senior Advisor, Executive shall report to Damien McDonald or someone designated by Mr. McDonald (“Manager”).

		
	a)
	Executive’s annual base salary as Senior Advisor shall be $440,000, payable bi-weekly, less withholding for federal, state or local taxes as may be required by law or applicable regulation and deductions as requested or agreed by Executive.

		
	b)
	Executive shall receive an annual bonus for fiscal year 2020, prorated for the period of his employment during 2020, the target amount of which is 65% of his annual base salary.  Executive’s fiscal year 2020 bonus shall be payable in April, 2021 according to the terms of the 2020 ELT Short-Term Incentive Plan, which is subject to the approval of the Compensation Committee of the LivaNova Plc Board of Directors in the first quarter of fiscal year 2020. 

		
	c)
	Executive shall not be eligible to receive any equity awards under the LivaNova Plc 2015 Incentive Award Plan after the Effective Date of this Agreement.

		
	3.
	Termination Date.  Executive’s last day of employment with the Company and its affiliates shall be June 30, 2020 (“Termination Date”).

		
	4.
	Restriction on Competition.  The Executive agrees that he will not, prior to February 15, 2021, serve as an employee, consultant, board member, or non-executive director for any entity that is engaged in the development, manufacture, distribution, marketing, or sale of any product or service that is or seeks to be in competition with a product or service offered or under development by the Company during the term of Executive’s employment by the Company.  The Executive acknowledges that all unvested equity awards shall be forfeited immediately for no additional consideration if the Executive engages in any employment or business activities for himself or on behalf of any enterprise in any capacity which violates the restrictions set forth in this section of the Agreement.

		
	B.
	Consideration:

		
	1.
	Severance Payment.  Executive shall receive a severance payment in the gross amount of $440,000.00 on the first payroll date following June 30, 2020.

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	2.
	Payment for Restriction on Competition.  Executive shall receive a payment in consideration of the Restriction on Competition in the gross amount of $453,750.00 on the first payroll date following February 15, 2021.

		
	3.
	COBRA Benefit.  Provided Executive and/or his eligible dependents timely elects to continue their healthcare coverage under the Company’s group health plan pursuant to the Consolidated Omnibus Reconciliation Act (“COBRA”), the Company shall reimburse Executive monthly for the costs he incurs to obtain such continued coverage for himself and his eligible dependents for a period of eight (8) months measured from Executive’s Termination Date.  To the extent the coverage costs paid by the Company constitute taxable income to Executive, the Company shall report the reimbursement as taxable W-2 wages and collect the applicable withholding taxes, and any remaining tax liability shall be Executive’s sole responsibility, provided that the reimbursed coverage costs shall not be considered as taxable income to Executive if such treatment is permissible under applicable law.

		
	4.
	Expatriate Tax Support.  Executive and the Company anticipate that Executive’s tax obligations to Italy for the period of Executive’s expatriate service from 2011 through 2015 have been satisfied through the Company’s tax equalization program.  In the event, however, that Executive requires assistance after the Termination Date with tax filings for the years of his expatriate service in Italy, the Company agrees to pay consulting fees up to $12,000 each year for expenses incurred by Executive in each of the years 2019, 2020, and 2021 for Executive’s required assistance.  Executive agrees that any tax obligation to Italy for tax years 2011 through 2015 first demanded after the Termination Date shall be borne solely by Executive, with no recourse against the Company, and the Company hereby waives its right to reimbursement for any foreign tax credit due Executive as a consequence of any such tax obligation paid by Executive.

		
	5.
	Equity Awards.  Executive’s equity awards unvested as of the Effective Date shall continue to vest through the Termination Date.  All equity awards not vested as of the Termination Date shall lapse, with the exception of the Performance Stock Units granted on March 15, 2018 and March 30, 2019, which will vest or lapse according to the terms of the awards. The Stock Appreciation Rights granted on October 19, 2015 are fully vested and exercisable until their expiration on October 19, 2020.

		
	6.
	Relocation Expenses.  The Company will pay, or reimburse the Executive for, reasonable relocation expenses, incurred by the Executive in 2019 and 2020, not to exceed $25,000 in each such year, relating to his relocation 

-3-

from Houston, Texas to Sarasota, Florida, subject to the terms described below.
		
	a)
	Relocation expenses are the direct payment or reimbursement of costs directly related to moving Executive’s (and his family’s) personal and household goods and furniture from the family’s residence in Texas to the family’s residence in Florida (the “Moving Costs”).  

		
	b)
	Executive must submit any request for payment or reimbursement of Moving Costs to the Company, no later than December 1, 2020.  Moving Costs requests will be paid directly to the vendor or reimbursed to Executive as soon as reasonably practicable after approval by the Company, but in no event later than December 31, 2020.

		
	7.
	Attorney Fees.  The Company shall pay or the Executive shall be reimbursed for up to $15,000 of properly documented attorneys’ fees and costs incurred by Executive in connection with the negotiation, drafting and review of this Agreement, provided that any such payment will be made as soon as reasonably practicable.

		
	8.
	Future Inquiries.  Executive shall direct all inquiries from prospective employers to Human Resources who will advise said prospective employers of Executive’s dates of service, positions held, and last salary only.

C.    Protection of Company Interests and Miscellaneous Terms:
		
	1.
	Confidential Information.

		
	a)
	“Confidential Information” means any information that is not generally known or publicly disclosed by the Company relating to the Company’s existing or reasonably foreseeable business, such as information relating to business methods, personnel data, products and services, suppliers, customers, accounts, prospective customers and accounts, marketing and merchandising proposals and techniques, billing and pricing procedures, financial information, trade secrets, processes, discoveries, ideas, compilations, inventions and other information and improvements related to the Company’s business.  Whether or not included in the foregoing definition, “Confidential Information” also includes, but is not limited to, the Company’s sales, clinical and engineering information, information about new or future products, the Company’s marketing plans and goals, lists of the Company’s customers, information regarding research and development, clinical trials, manufacturing processes, management systems, 

-4-

computer software and programs, algorithms, hardware configurations and any other confidential information which provides the Company with a competitive advantage.
		
	b)
	Executive agrees that the Company has disclosed Confidential Information to Executive, and that Executive had access to the Company’s Confidential Information during his employment.  Executive acknowledges and agrees that such Confidential Information is a business asset of the Company, the value of which can only be protected by maintaining the secrecy of such Confidential Information.  Executive acknowledges that in the course of Executive’s engagement with the Company, Executive has established personal and professional contacts and relationships with the Company’s customers which represent valuable business assets of the Company.

		
	c)
	Executive shall not directly or indirectly use or disclose to any person any Confidential Information.  Executive also will refrain from any act or omission that is reasonably likely to reduce the value to the Company of any Confidential Information.

		
	d)
	All records, files, documents, lists and other items containing Confidential Information which Executive prepared, used, or came in contact with during the term of his employment are the Company’s property.  All such materials and any other the Company property shall be returned to the Company.

		
	e)
	Executive agrees to maintain the confidentiality of the existence and terms of this Release, and will not disclose the existence and terms of this Release except to the extent for the preparation and filing of his tax returns, or to other professional advisor(s).  Executive shall advise such persons that the terms of this Release are confidential and must be treated as such by these persons.

		
	2.
	Waiver and Release of Claims.  Executive agrees to execute the Waiver and Release of Claims, attached hereto as Exhibit A, and deliver the executed document to the Company’s Senior Vice President and General Counsel within the 30-day period preceding the Termination Date.

		
	3.
	Mutual Non-disparagement.  Executive agrees not to disparage, demean or defame the Company or its affiliates, their products, services or employees in any way.  The Company agrees not to disparage, demean or defame Executive in any way.

		
	4.
	Indemnification.

-5-

		
	A.
	In the event that the Executive is made a party or threatened to be made a party to any action, suit or proceeding, whether civil, criminal, administrative or investigative (a “Proceeding”), other than any Proceeding initiated by the Executive or the Company related to any contest or dispute between the Executive and the Company with respect to this Agreement or the Executive’s employment hereunder, by reason of the fact that the Executive is or was a director or officer of the Company or any entity related to the Company, or is or was serving at the request of the Company as a director, officer, member, employee or agent of another corporation, a partnership, joint venture, trust or other enterprise related to the Company, the Executive shall be indemnified and held harmless by the Company to the maximum extent permitted under applicable law and the Company’s bylaws from and against any liabilities, costs, claims and expenses, including all costs and expenses incurred in defense of any Proceeding (including attorneys’ fees).  To trigger these indemnity obligations of the Company, Executive shall notify the Company in writing within 20 days after Executive receives notice of the commencement of any action or other proceeding in respect to which indemnification may be sought hereunder, or within such lesser times as maybe provided by law for the defense of such action or proceeding.  The Company shall, upon notice given within a reasonable time following the receipt by the Company of such notice from Executive, be entitled to assume the defense of such action or proceeding with counsel chosen by the Company, which may include counsel for the Company.  Executive shall not, without the prior written consent of the Company, settle or compromise or consent to the entry of any judgment in any pending or threatened claim, action or proceeding to which Executive is a party.  In the event the Company elects not to assume such defense, then the Company shall reimburse Executive for the reasonable costs and expenses incurred by the Executive in defense of such Proceeding (including attorneys’ fees) in advance of the final disposition of such litigation upon receipt by the Company of: (i) a written request for payment; (ii) appropriate documentation evidencing the incurrence, amount and nature of the costs and expenses for which payment is being sought; and (iii) an undertaking adequate under applicable law made by or on behalf of the Executive to repay the amounts so paid if it shall ultimately be determined that the Executive is not entitled to be indemnified by the Company under this Agreement.

		
	5.
	Mutual Release of Claims.  By entering into this Agreement, the Company releases the Executive from any and all claims against the Executive which the Company might otherwise assert.

		
	6.
	Governing Law.  This Agreement shall be governed by and construed and enforced, in all respects, in accordance with the laws of the State of Texas 

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without regard to conflict of law principles unless preempted by federal law, in which case federal law shall govern.
		
	7.
	Integration.  This Agreement supersedes, replaces, and merges all previous agreements and discussions relating to Executive’s employment relationship with the Company and its subsidiaries, including the Employment Documentation and constitutes the entire agreement between Executive and the Company.  The parties execute this Agreement without reliance on any representation or promise, of any kind or character, not expressly set forth herein.  This Agreement may not be changed or terminated orally, and no change, termination, or waiver of this Agreement or any of the provisions herein contained shall be binding unless made in writing and signed by all parties, and in the case of the Company, by an authorized officer.

		
	8.
	Notices.  All notices required or permitted to be given under this Agreement shall be in writing and shall be deemed effectively given:  (i) upon personal delivery to the party to be notified; (ii) when sent by confirmed facsimile if sent during normal business hours of the recipient, if not, then on the next business day; or (iii) on delivery by an internationally recognized overnight courier, with written verification of receipt.  All communications shall be sent to the address set forth below or at such other address as the Company or Executive may designate by ten (10) days advance written notice to the other party.

In the case of the Company to:
20 Eastbourne Terrace
London, W2 6LG
United Kingdom
Attention:  Senior Vice President & General Counsel
Facsimile:  +44 20 3325 0696

In the case of Executive to:  
100 Cyberonics Blvd
Houston, TX 77058
United States of America
Facsimile:  +1     (281) 853-1332

And
Edward Andrle
1400 EL Camino Village Dr., #2302
Houston, TX  77058

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With a copy to:
Robert C. Castle, Esq.
Fox Rothschild LLP
Two22, Suite 2000
222 S. 9th Street
Minneapolis, MN 55402-3338

		
	9.
	Section 409A.  The payments and benefits under this Agreement are intended to be exempt from, or to the extent not so exempt, to comply with the requirements of Section 409A of the Internal Revenue Code (the “Code”) and this Agreement shall be construed and administered to give full effect to such intention. Further:

		
	a)
	All reimbursement or in-kind benefits under this Agreement (i) shall be payable in accordance with the Company’s policies in effect from time to time, but in any event shall be made on or prior to the last day of the taxable year following the taxable year such expenses were incurred by Executive; (ii) no such reimbursement or expenses eligible for reimbursement in any taxable year shall in any way affect the expenses eligible for reimbursement in any other taxable year; and (iii) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchanged for another benefit.

		
	b)
	If Executive is deemed on the date of termination to be a “specified employee” within the meaning of that term under Section 409A(a)(2)(B) of the Code, then notwithstanding any other provision herein, with regard to any payment or the provision of any benefit that is consider nonqualified deferred compensation under Section 409A payable on account of the Executive’s “separation from service,” such payment or benefit shall not be made or provided prior to the expiration of the six-month period measured from the date of such “separation from service” of Executive, and such earlier date permitted under Section 409A of the Code without the imposition of any penalties thereunder (the “Delay Period”). All payments and benefits delayed pursuant to this paragraph shall be paid to Executive in a lump sum on the first business day following the Delay Period, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them in this Agreement.

		
	10.
	Successors.  This Agreement shall be for the benefit of and binding upon the parties and their respective heirs, personal representatives, legal representatives, successors and, as to the Company, assigns, including 

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without limitation, any successor to the Company by merger, consolidation, sale of stock or assets, or otherwise.  
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed in multiple counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument, at Houston, Harris County, Texas on the Effective Date.
	
		
	EXECUTIVE:

   
Edward S. Andrle

Date:     
	COMPANY:

LivaNova USA, Inc.

By:     
Name:     
Title:     

Date:     

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Exhibit 10.47
Execution Copy

EXHIBIT A

WAIVER AND RELEASE OF CLAIMS

III.    

Exhibit 10.47
Execution Copy

EXHIBIT A

Waiver and Release of Claims

This Waiver and Release of Claims (“Release”) is made by Edward S. Andrle (“Employee”) as of the _____________________________ (“Effective Date”) in connection with the Employee’s separation from employment on June 30, 2020.

NOW THEREFORE, in consideration of the mutual promises described in the Separation Agreement dated December         , 2019 (“Separation Agreement”), to which this Release is appended as Exhibit A, Employee agrees as follows:
A.Waiver and Release of Claims by Employee.  Except for the obligations created or acknowledged under this Release, Employee, on behalf of Employee and his heirs, personal representatives, successors and assigns, (collectively the “Employee Releasors”), hereby jointly and severally fully and forever release, acquit and discharge LivaNova USA, Inc. (“Company”) and its successors, and the Company’s affiliates (including but not limited to LivaNova Plc and its subsidiaries), partners, employees and agents, and their respective heirs, personal representatives, successors, assigns and any and all other persons, firms or corporations that might be liable through the Company (each an “Employee Releasee” and collectively the “Employee Releasees”), of and from any and all claims, counterclaims and causes of action whatsoever which the Employee Releasors, jointly and severally, ever had, now have, or thereafter can, shall or may have against the Employee Releasees, jointly and severally, arising out of or in connection with the Employee’s employment with the Company, including the resignation of said employment (including without limitation Employee’s Claims as defined below).
B.Employee’s Claims.  “Employee’s Claims” means all of the rights that Employee had, may have had, or now has arising out of or in connection with the Employee’s employment with the Company, whether known or unknown, to any relief of any kind from the Company, including without limitation:
		
	1.
	all claims arising out of or relating to Employee’s employment with the Company or separation from employment with the Company;

		
	2.
	all claims arising out of or relating to any statements, actions, or omissions of the Employee Releasees;

		
	3.
	all claims arising out of or relating to any agreements (whether express or implied) to which Employee and the Company are parties (except as otherwise provided or acknowledged herein); all claims for any alleged unlawful discrimination, harassment, retaliation or reprisal, or other alleged unlawful practices arising under any federal, state, or local statute, ordinance, or regulation, including without limitation, claims under Title VII of the Civil Rights Act of 1964 and 1991, the Americans with Disabilities Act, the Americans with Disabilities Amendments Act, the Rehabilitation Act of 1973, the Age Discrimination in Employment Act, 42 U.S.C. § 1981, the Employee Retirement Income Security Act, the Equal Pay Act, 

A-1

the Worker Adjustment and Retraining Notification Act, the Fair Credit Reporting Act and workers’ compensation non- interference or non-retaliation statutes;
		
	4.
	all claims for alleged wrongful discharge; breach of contract; breach of implied contract; failure to keep any promise; breach of a covenant of good faith and fair dealing; breach of fiduciary duty; estoppel; activities, if any, as a whistleblower; defamation; infliction of emotional distress; fraud; misrepresentation; negligence; harassment; retaliation or reprisal; constructive discharge; assault; battery; false imprisonment; invasion of privacy; interference with contractual or business relationships; any other wrongful employment practices; and violation of any other principle of common law;

		
	5.
	all claims for compensation of any kind, including without limitation, salary, bonuses, overtime, commissions, draw on commissions, stock-based compensation or stock options, vacation pay, and expense reimbursements, as well as any alleged claims arising out of or relating to any applicable state or local wage acts or wage orders, the Fair Labor Standards Act, or similar federal, state or local statutes, regulations or ordinances;

		
	6.
	all claims for back pay, front pay, reinstatement, other equitable relief, compensatory damages, damages for alleged personal injury, liquidated damages, and punitive damages; and

		
	7.
	all claims for attorneys’ fees, costs, and interest.

However, “Employee’s Claims” do not include: (a) any claims that the law does not allow to be waived, (b) arising from the Company’s violation of the Employee’s Separation Agreement with the Company, or (c) any claims that may arise after the date on which Employee signs this Release, including any claims Employee may have under the Age Discrimination in Employment Act that may arise after the date on which Employee signs this Release.
Employee acknowledges and agrees that nothing in this Agreement is intended to or does prevent him from filing a charge or complaint with any governmental agency or regulatory body (including, but not limited to, the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, or the Securities and Exchange Commission), but he forever waives any right to recover and will not request or accept, anything of value from any of the Employee Releasees as compensation or damages growing out of, resulting from, or connected in any way with his employment, the ending of his employment, or with any other act, conduct, or omission of any of the Employee Releasees, other than as provided for in this Agreement, whether sought directly by him or by any governmental agency or other public authority, individual, or group of individuals on his behalf.  Employee disclaims any right to money damages or individual relief in connection with the foregoing.
C.No Assignment.  As of the date of the signing of this Release, the Employee represents that he has made no assignment of any claims against any persons or organizations described in paragraph B above.

A-2

D.Older Worker Benefit Protection Act Requirements. Employee hereby acknowledges that he is waiving any claims he may have under the Age Discrimination in Employment Act (“ADEA”) or the Older Workers Benefit Protection Act (“OWBPA”), and that he has at least twenty-one (21) days in which to consider whether to sign this Release. Employee, however, is not waiving rights and claims that he may have under ADEA against the Company that may arise after the date on which this Release is executed.
E.Review of Release. Employee acknowledges that this Release has been written in a manner calculated to be understood by Employee, and is in fact understood by Employee. Employee further acknowledges that he was advised and had the opportunity to consult with an attorney of Employee’s choice before signing this Release. Employee also acknowledges that he has been informed that he has twenty-one (21) days in which to consider whether he will sign this Release, and that he may sign this Release sooner if he wishes. The parties agree that changes, whether material or not material, do not restart the running of the 21-day period. Employee understands that he may revoke Employee’s acceptance of this Release and waiver of claims by delivering a written, signed statement of revocation to the Senior Vice President & General Counsel of LivaNova Plc, 20 Eastbourne Terrace, London, W2 6LG, United Kingdom within seven (7) days of the date he has signed this Release. He understands that this Release will not become effective until the eighth day following Employee’s signing of this Release. He understands and intends that in the event that he does not revoke acceptance of this Release, within the seven (7)-day period described in this paragraph, this Release and the releases contained herein, will be legally binding and enforceable on Employee, his heirs, administrators, and assigns. The Employee further acknowledges that he will be eligible to receive certain consideration described in the Separation Agreement only upon expiration of the seven (7)-day time period described above.
F.Severability.  If any provision of this Release is declared by any court of competent jurisdiction to be invalid for any reason, such invalidity shall not affect the remaining provisions of this Release, which shall be fully severable, and given full force and effect.
G.Governing Law.  This Release shall be construed in accordance with the laws of the State of Texas.
- PLEASE READ ENTIRE DOCUMENT BEFORE SIGNING –

    
                        Edward S. Andrle

Date:  June ____, 2020

A-3

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