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Exhibit 4.28    
  

CENTERPULSE
USA HOLDING CO.

12 East Greenway Plaza

Suite 1000

Houston, Texas 77046 

January 21,
2003 

SNIA
S.p.A.

Via Borgonuovo 14

20121 Milan, Italy 

Gentlemen:

        This
document constitutes Amendment No. 2 (this "Amendment No. 2") to the Stock Purchase Agreement, dated as of November 26, 2002, among Centerpulse Ltd.,
Centerpulse USA Holding Co. and SNIA S.p.A., as amended by Amendment No. 1 thereto (the "Purchase Agreement"). Capitalized terms used herein and not otherwise defined herein shall have the
respective meanings ascribed to such terms in the Purchase Agreement. 

	1.
	Pursuant
to clause (c)(i) under the definition of "Permitted Encumbrances" set forth in Section 1.01 of the Purchase Agreement, Purchaser hereby agrees to be
responsible for purchase money indebtedness related to certain real property of the Target Companies in the aggregate principal amount as of the Closing Date not in excess of approximately $179,000.00
(such principal amount, the "Mortgage Balance"); provided, that Seller hereby acknowledges and agrees that the Working Capital reflected on the Closing
Balance Sheet and the Final Closing Balance Sheet shall be decreased by an amount equal to the Mortgage Balance.

	2.
	Section 9.03(l)
of the Purchase Agreement is hereby amended to delete the words "and/or (iv)" and to insert immediately after the words "Section 5.15(e)" the words
"(iv) Section 5.12 and/or (v)". Accordingly, the parties acknowledge and agree that Seller's payment obligations under Section 5.12 of the Purchase Agreement shall be made in cash
to Purchaser (and not by set off against the Subordinated Note).

	3.
	The
definition of "Agreement" or "this Agreement" in Section 1.01 of the Purchase Agreement is hereby amended to delete the words "and all amendments hereto made in accordance
with the provisions hereof" and insert the words ", each of the Subordinated Note and the related Guaranty made by the Purchaser, dated as of January 21, 2003, by and between SNIA and Seller and all
amendments hereto and thereto made in accordance with the provisions hereof and thereof" immediately after the words "(including the Exhibits hereto and the Disclosure Schedule)."

	4.
	Section 5.15
of the Purchase Agreement is hereby amended such that, in connection with the elimination of intercompany debt, CMI shall be allowed five (5) business days
to make accounting entries reflecting an in-kind dividend of an intercompany net receivable, provided that there will be no cash component.

	5.
	Section 3.03
of the Disclosure Schedule is hereby deleted and restated as set forth on Exhibit A attached hereto.

	6.
	Section 3.15
of the Disclosure Schedule is hereby deleted and restated as set forth on Exhibit B attached hereto.

	7.
	Except
as otherwise provided in this Amendment No. 2, the undersigned hereby ratify and confirm all the other provisions of the Purchase Agreement. 

	8.
	This
Amendment No. 2 may be executed in two or more counterparts, each of which shall constitute an original, but all of which when taken together shall constitute but one
agreement. 

[signature
page follows] 

	 	 	Sincerely,
	

 	
 	

CENTERPULSE USA HOLDING CO.
	

 	
 	

By:	

/s/  DAVID S. WISE      

	 	 	Name:	David S. Wise,
	 	 	Title:	Secretary
	

 	
 	

CENTERPULSE LTD.
	

 	
 	

By:	

/s/  URS KAMBER      

	 	 	Name:	Urs Kamber

	 	 	Title:	CFO

	

 	
 	

CENTERPULSE LTD.
	

 	
 	

By:	

/s/  CHRISTIAN STAMBACH      

	 	 	Name:	Christian Stambach

	 	 	Title:	CRO & Chief Legal Counsel

Agreed
to and Accepted: 

SNIA
S.p.A. 

	

By:	
 	

/s/  CARLO VANOLI      
	
 	

 	
 	

 
	Name:	 	Carlo Vanoli
	 	 	 	 
	Title:	 	COO
	 	 	 	 

 
 

EXHIBIT A    
  

 
 
 
Section 3.03—Capital Stock of Target Companies  

	(a)
	The
authorized and outstanding shares of capital stock of each Target Company is as follows: 

	 
	 	 
	 	Authorized
	 	Outstanding

	Selling Entity
 
	 	Target Company
 
	 	Preferred

Stock
 
	 	Common

Stock
 
	 	Preferred

Stock
 
	 	Common

Stock
 

	Centerpulse USA Holding Co.	 	CMI	 	0	 	1,000	 	0	 	1,000
	Centerpulse	 	CVNL	 	0	 	301	 	0	 	301
	Sulzer Carbomedics International Holding Co.	 	MIT	 	100,000,000	 	100,000	 	29,360,000	 	1
	Centerpulse Germany Holding GmbH	 	CVD	 	EUR 512,000 share capital	 	EUR 512,000 share capital

	 
	 	 
	 	Authorized
	 	Outstanding

	Target Company
 
	 	Subsidiary (also, a

Target Company)
 
	 	Preferred

Stock
 
	 	Common

Stock
 
	 	Preferred

Stock
 
	 	Common

Stock
 

	CMI	 	Sulzer Carbomedics UK Ltd.	 	0	 	1,000	 	0	 	1,000
	CMI	 	Sulzer Cardiovascular SA	 	0	 	165,000	 	0	 	165,000
	CMI	 	Sulzer Cardiovascular AG	 	0	 	5,000	 	0	 	5,000
	CMI	 	Sulzer Medica Canada Inc.	 	Unlimited	 	Unlimited	 	0	 	32,000
	CMI	 	Sulzer Carbomedics Canada Ltd.	 	0	 	100	 	0	 	100
	CVNL	 	Cardio Medical BV	 	0	 	400	 	0	 	400

	(b)
	CMI
owns all of the outstanding shares of Sulzer Carbomedics Canada Ltd., which is an inactive Canadian company that will be merged into a separate Canadian corporation
unrelated to the Valves Business prior to Closing. Sulzer Carbomedics Canada Ltd.'s only asset is an intercompany note receivable for CAD 4.5 million. 

        The
Shares are subject to a security interest pursuant to that certain Facility Agreement for Centerpulse Orthopedics Inc. arranged by UBS Warburg Ltd. with UBS AG,
Stamford Branch dated October 29, 2002, to be released prior to Closing. 

	(c)
	(1)    See
3.03(b)—Capital Stock of Target Companies.

	(2)
	CVNL
owns all of the outstanding shares of Cardio Medical BV. 

 
 

EXHIBIT B    
  

 
 

Section 3.15—Material Contracts    
  

(a)    The
following is a list of contracts with respect to the Valves Business to which any Target Company is a party as of the date of this Agreement: 

	(i)
	Indebtedness:

Unless
otherwise noted, none of the contracts in this subsection (i) entitled "Indebtedness" rise to the threshold of $500,000. 

	(1)
	Promissory
Note in favor of CMI made by ATS Medical, Inc. dated June 27, 2002.

	(2)
	Mortgage
on 11220 Voyageur Way 1 & 2, Richmond, B.C., between MIT and CIBC Mortgages.

	(3)
	Facility
Agreement for Centerpulse Orthopedics Inc. arranged by UBS Warburg Ltd. with UBS AG, Stamford Branch dated October 29, 2002, to be released prior to
Closing.

	(4)
	See
Section 3.08 (ii) (a) (1). 

(ii)    Leases of Personal Property:

CVNL:  

	(1)
	Operational
Lease by and between CVNL and Volvo re: automobile. (Not terminable at will within 90 days). 

Sulzer Cardiovascular AG:  

	(1)
	Lease
Agreement by and between Sulzer Cardiovascular AG and Cellpack AG dated May 31, 2001 re: copy machines. (Foreign language document).

	(2)
	Leasing
Agreement No. 2513455.001 by and between Sulzer Cardiovascular AG and BMW Leasing dated April 5, 2001 re: automobile. (Foreign language document).

	(3)
	Leasing
Agreement No. 2513455.002 by and between Sulzer Cardiovascular AG and BMW Leasing dated April 18, 2001 re: automobile. (Foreign language document), 

Sulzer Medica Canada:  

	(1)
	Equipment
Leasing and Maintenance Agreement by and between OE Leasing and Sulzer Medica Canada Inc. re: Canon copiers and printers. (Not terminable at will within
90 days). 

CVD:  

	(1)
	Letter
regarding leasing agreement between CVD and Curative AG dated July 18, 2002, re: AFX Generators. (Foreign language document).

	(2)
	Lease
Agreement by and between CVD and Avis Fleet Services dated July 3, 2000, August 23, 2000, February 1, 2001 and November 13, 2001 re: automobiles.
(Foreign language document). 

Sulzer Carbomedics UK:  

	(1)
	Lease
Agreement Number 001-000018-000 by and between Carbomedics UK Ltd and Copelco Limited re: Toshiba Power Vision Echo Ultrasound System. (Not
terminable at will within 90 days).

	(2)
	Letter
to Sulzer Carbomedics UK Ltd from GE Capital Equipment Finance Ltd dated February 5, 2002 re: the Schedule of Value Added Tax for Agreement Number
00096636-3 (Telephone Equipment). (Not terminable at will within 90 days). 

	(3)
	Letter
to Sulzer Carbomedics UK Ltd from Pitney Bowes Finance PLC received May 13, 2002 re: the Schedule of Value Added Tax for Agreement Number 10036923 (Pitney Bowes
Equipment). (Not terminable at will within 90 days).

	(4)
	Vehicle
Leasing Agreement by and between Sulzer Carbomedics UK Ltd and Sanderson Albany Lease Limited dated September 1, 2000 (including the Schedule dated
September 26, 2000) re: automobile. (Not terminable at will within 90 days).

	(5)
	Agreement
by and between Sulzer Carbomedics UK Ltd and Capital Bank Vehicle Management Limited dated January 16, 2002 (including the VAT Invoice received
January 26, 2002) re: automobile. (Not terminable at will within 90 days).

	(6)
	Mercedes
Operating Lease Contract by and between Sulzer Carbomedics UK Ltd and Mercedes-Benz Finance Ltd. effective May 27, 1999 re: Proposal Number
008057990119160; (including the Acceptance Certificate and Service Contract, each dated August 12, 1999) re: automobile. (Not terminable at will within 90 days).

	(7)
	Mercedes
Operating Lease Contract by and between Sulzer Carbomedics UK Ltd and Mercedes-Benz Finance Ltd. effective January 3, 2001 re: Proposal
Number 008057010111103; (including the Acceptance Certificate dated December 4, 2001 and the Service Contract dated October 5, 2001) re: automobile. (Not terminable at will within
90 days). 

(iii)    Non-Competition:

Target Company as Distributor:  

	(1)
	Distribution
Agreement by and between CMI and Labcor Laboratorias Ltda. dated March 27, 1997, as amended May 23, 1997 and December 31, 1999 re: prohibited
from resale of specific products in Brazil.

	(2)
	Sales
Representative Agreement by and between CMI and Starion Instruments Corp. dated August 1, 2002. Release dated October 21, 2002 re: sale of Starion products.

	(3)
	Exclusive
Distributorship Agreement by and between Sulzer Medica Canada Inc. and ELA Medical SA dated February 14, 2002.

	(4)
	2002
Exclusive Distribution Agreement by and between Sulzer Medica Canada Inc. and Scanlan International, Inc. dated January 1, 2002.

	(5)
	Distributorship
Agreement by and between Sulzer Medica Canada Inc. and Microvena Corporation dated September 24, 2001.

	(6)
	Distributorship
Agreement by and between Sulzer Medica Canada Inc. and Endicor Medical dated September 24, 2001.

	(7)
	International
Distributor Agreement by and between Sulzer Medica Canada Inc. and Endologix, Inc dated September 1, 2001.

	(8)
	Distributor
Agreement by and between Sulzer Medica Canada Inc. and California Medical Laboratories Inc. dated July 25, 2001.

	(9)
	Distribution
Agreement by and between Sulzer Medica Canada Inc. and Perclose, Inc. dated April 1, 2001.

	(10)
	Distributorship
Agreement by and between Sulzer Medica Canada Inc. and Haemonetics Corporation dated January 1, 1999.

	(11)
	Distributorship
Agreement by and between Sulzer Medica Canada Inc. and Biocompatibles Ltd of Frensham House dated May 26, 1998, as amended December 22,
1999.

	(12)
	Distributor
Agreement by and between Sulzer Medica Canada Inc. and International Technidyne Corporation, dated May 1, 1997 as amended July 9, 1999. 

	(13)
	Distributorship
Agreement by and between Coroneo Inc. and Sulzer Cardiovascular SA dated January 26, 2001.

	(14)
	Distribution
Agreement by and between Pan Medical Ltd. and Sulzer Cardiovascular SA dated June 15, 1999, as amended June 5, 2000.

	(15)
	International
Distribution Agreement by and between Sulzer Cardiovascular AG and Bio-Vascular, Inc. dated November 1, 2000, as amended November 1,
2001.

	(16)
	Distribution
Agreement by and between Sulzer Cardiovascular SA and AFx inc., dated July 23, 2002.

	(17)
	Distribution
Agreement by and between Sulzer Carbomedics UK Ltd and AFx inc., dated July 23, 2002.

	(18)
	Distribution
Agreement by and between Sulzer Cardiovascular AG and AFx inc., dated July 23, 2002.

	(19)
	Distribution
Agreement by and between Sulzer Medica Canada, Inc. and AFx inc., dated July 23, 2002.

	(20)
	Distribution
Agreement between CVD and AFx inc., dated July 23, 2002. 

CMI:  

CMI
has granted exclusive distribution rights and has not explicitly reserved its rights to sell its products in the territories related to the following distributors: Biomedic S.A.R.L., EMSO Limited,
Med Tech Equipmed SA, Pimex Medical Equipment, Phama-Cos Limited and C. Nicolai GmbH & Co. KG. 

(iv)    Clinical Application Research Studies:

CMI Optiform Study:  

	(1)
	Clinical
Study Agreement by and between CMI and The Mayo Clinic Rochester dated July 19, 2002 re: "Prospective Clinical Study of the Sulzer Carbomedics CPHV OptiForm Mitral
Heart Valve."

	(2)
	Clinical
Study Agreement by and between CMI and Midatlantic Cardiovascular Associates and Dr. Kimble Jett dated November 16, 2001 re: "Prospective Clinical Study of the
Sulzer Carbomedics CPHV OptiForm Mitral Heart Valve."

	(3)
	Clinical
Study Agreement by and between CMI and Shumacker Isch dated September 6, 2000, as amended September 7, 2001 re: "Prospective Clinical Study of the Sulzer
Carbomedics CPHV OptiForm Mitral Heart Valve."

	(4)
	Clinical
Study Agreement by and between CMI and Dr. Mark W. Connolly dated August 21, 2000, as amended August 22, 2001 re: "Prospective Clinical Study of the
Sulzer Carbomedics CPHV OptiForm Mitral Heart Valve."

	(5)
	Clinical
Trial Research Agreement by and between CMI and Clarian Health Partners, Inc., d/b/a Methodist Research Institute dated July 10, 2000, as amended
April 2, 2002 re: "Prospective Clinical Study of the Sulzer Carbomedics CPHV OptiForm Mitral Heart Valve."

	(6)
	Clinical
Study Agreement by and between CMI and Pasala Ravichandran, M.D. dated September 11, 2000, as amended September 12, 2001 re: "Prospective Clinical Study of the
Sulzer Carbomedics CPHV OptiForm Mitral Heart Valve."

	(7)
	Clinical
Work Agreement by and between CMI and Cardiovascular Surgery Associates, Milwaukee and Dr. Leonard Kleinman dated October 16, 2000 re: "Prospective Clinical
Study of the Sulzer Carbomedics CPHV OptiForm Mitral Heart Valve." 

	(8)
	Clinical
Study Agreement by and between CMI and Virginia Commonwealth University dated October 1, 2001 re: "Prospective Clinical Study of the Sulzer Carbomedics CPHV OptiForm
Mitral Heart Valve."

	(9)
	Clinical
Study Agreement by and between CMI and Texas Heart Institute dated June 7, 2000, as amended June 8, 2001 re: "Prospective Clinical Study of the Sulzer
Carbomedics CPHV OptiForm Mitral Heart Valve."

	(10)
	Clinical
Study Agreement by and between CMI and MidAtlantic Cardiovascular Associates and Dr. John Laschinger dated August 11, 2000, as amended August 12, 2001
re: "Prospective Clinical Study of the Sulzer Carbomedics CPHV OptiForm Mitral Heart Valve." 

CMI AnnuloFlex Study:  

	(1)
	Project
Agreement by and between CMI and Cardiac Surgical Associates Research Foundation dated January 23, 2001, as amended August 3, 2001, February 13, 2002 and
October 30, 2002, re: "Clinical Investigation of the Sulzer Carbomedics AnnuloFlex Annuloplasty Ring for Mitral Valve Repair."

	(2)
	Project
Agreement by and between CMI and MedStar Research Institute dated February 22, 2001, as amended March 1, 2001 and November 5, 2001 re: "Clinical
Investigation of the Sulzer Carbomedics AnnuloFlex Annuloplasty Ring for Mitral Valve Repair." 

CMI Synergy ST Study:  

	(1)
	Letter
Agreement by and between CMI and Prof. Dr. W. Flameng dated April 23, 2002 re: "Randomized Study of the Synergy ST Stented Porcine Bioprosthesis for Cardiac Valve
Replacement."

	(2)
	Letter
Agreement by and between CMI and Dr. A. Kalangos, Hopital Universitaire de Geneve, dated October 24, 2000 re: "Clinical Investigation of the Synergy ST Stented
Porcine Bioprosthesis for Cardiac Valve Replacement."

	(3)
	Letter
Agreement by and between CMI and Dr. Ian Mitchell dated June 14, 2002 re: "Clinical Investigation of the Synergy ST Stented Porcine Bioprosthesis for Cardiac
Valve Replacement."

	(4)
	Letter
Agreement by and between CMI and Dr. Eduardo Olalla, Hospital Clinico de Malaga, dated December 8, 2000 re: "Clinical Investigation of the Synergy ST Stented
Porcine Bioprosthesis for Cardiac Valve Replacement."

	(5)
	Letter
Agreement by and between CMI and Prof. Gerard Bloch dated September 18, 2000 re: "Clinical Investigation of the Synergy ST Stented Porcine Bioprosthesis for Cardiac
Valve Replacement."

	(6)
	Letter
Agreement by and between CMI and Dr. Carlos Infantes, Hospital Virgen de la Macarena, dated October 23, 2000 re: "Clinical Investigation of the Synergy ST Stented
Porcine Bioprosthesis for Cardiac Valve Replacement." 

CMI Synergy PC Study:  

	(1)
	Agreement
by and between CMI and Heart Center NRW Bad Oeynhausen dated June 26, 2001 re: "Mitroflow Synergy PC Pericardial Valve." This agreement is under renegotiation.

	(2)
	Letter
Agreement by and among CMI, University Hospital Nijmedgen-St. Radboud and Dr. A.G. Hensens dated October 16, 2001 re: "A Comparison of the Mitroflow
Synergy PC Stented Pericardial Bioprosthesis vs. Baxter Perimount Bioprosthesis for Aortic Valve Replacement." 

	(3)
	Letter
Agreement by and between CMI and Dott. Mattia Glauber dated March 6, 2001 re: "A Comparison of the Mitroflow Synergy PC Stented Pericardial Bioprosthesis vs. Baxter
Perimount Bioprosthesis for Aortic Valve Replacement."

	(4)
	Letter
Agreement by and between CMI and Professor Jose H. Roquette dated November 20, 2000 re: "A Comparison of the Mitroflow Synergy PC Stented Pericardial Bioprosthesis vs.
Baxter Perimount Bioprosthesis for Aortic Valve Replacement."

	(5)
	Letter
Agreement by and between CMI and Jose L. Pomar, M.D., Ph.D. dated August 14, 2000 re: "A Randomized Prospective Study Comparing Valve Sizing and Early Postoperative
Performance of the Mitroflow Synergy PC vs. the Baxter Perimount Pericardial Valve in Aortic Valve Replacement."

	(6)
	Letter
Agreement by and between CMI and Dr. Zohair Y. Al-Halees dated September 11, 2000 re: "A Comparison of the Mitroflow Synergy PC Stented Pericardial
Bioprosthesis vs. Baxter Perimount Bioprosthesis for Aortic Valve Replacement."

	(7)
	Letter
Agreement by and between CMI and Dr. Jean-Marie De Smet dated June 9, 2000 re: "A Comparison of the Mitroflow Synergy PC Stented pericardial
Bioprosthesis vs. Baxter Perimount Bioprosthesis for Aortic Valve Replacement."

	(8)
	Letter
Agreement by and between CMI and Dott. Gaetano Minzioni dated March 6, 2001, as amended February 19, 2002 re: "Comparison of the Mitroflow Synergy PC Stented
Pericardial Bioprostensis vs. Baxter Perimount." 

CMI LVMR Study:  

	(1)
	Clinical
Study Agreement by and between CMI and Cardiopulmonary Research Science & Technology Institute dated April 6, 2001 re: "Left Ventricular Mass Regression
Following Aortic Valve Replacement with Different Valve Substitutes." 

CMI Oxford Study:  

	(1)
	Clinical
Study Agreement by and between CMI and Governors of the University of Calgary and Calgary Health Region dated March 29, 2002 re: "Oxford Stentless Bioprosthesis with
Duranol."

	(2)
	Clinical
Study Agreement by and between CMI and Amtssygehuset I Gentofte dated October 10, 2001 re: "Oxford Stentless Bioprosthesis with Duranol."

	(3)
	Agreement
to Conduct Scientific Research by and between CMI and MedStar Research Institute dated May 16, 2002 re: "Clinical Investigation of the Sulzer Carbomedics Oxford
Stentless Bioprosthesis with Duranol for Aortic Valve Replacement." 

CMI Top Hat Study:  

	(1)
	Clinical
Study Agreement by and between CMI and Cardiothoracic & Vascular Surgeons dated October 12, 1998 re: "A Comparison Study of Patients Receiving Implantation of
the CarboMedics Supra-Annular (Top Hat) Prosthetic Heart Valve and Patients Receiving the Ross Procedure." 

CMI Other Studies:  

	(1)
	Project
Agreement by and among CMI, Universite Paul Sabatier and Prof. Colette Lacabanne dated February 29, 2000, re: "DSC/TSC studies of differently treated bovine pericardium
samples: reproducibility tests."

	(2)
	Project
Agreement by and among CMI, Phasex Corporation and Val Krukonis dated August 19, 2000, re: "Protocol for Supercritical Carbon Dioxide Treatment of Tissues and
Mechanical Valves." 

	(3)
	Project
Agreement by and between CMI and The Cleveland Clinic Foundation, dated May 29, 1998, re: "Shear Testing of Photofixed Porcine Heart Valve Tissues."

	(4)
	Project
Agreement by and between CMI and The Cleveland Clinic Foundation, dated July 27, 1998, re: "Stent Post Deflection of Labcor;" and the Confidentiality Agreement related
thereto.

	(5)
	Project
Agreement by and between CMI and The Cleveland Clinic Foundation, dated February 1, 1999, re: "Measurement of Amine Content in Photofixed Valves." 

CVD Studies:  

	(1)
	Basic
Agreement by and between CVD and Professor Dieter Horstkotte, M.D., dated November 21, 2000 re: "Timing of Surgery in Chronic Advanced Mitral or Aortic Valve Disease
(TOSCAMA)."

	(2)
	Study
Contract by and between CVD and Cardiac Research Unit GmbH, dated December 12, 2000 re: "Timing of Surgery in Chronic Advanced Mitral or Aortic Valve Disease (TOSCAMA);"
and Exhibit A TOSCAMA Study Payment Terms dated November 30, 2000, as amended April 30, 2002.

	(3)
	Letter
from CVD to Dr. R. Bergemann, dated July 1, 2002 re: "TOSCAMA Study."

	(4)
	Study
Contract by and among CVD, Professor Dr. O. Dapunt and Dr. H. Sauer, dated June 20, 2001 re: "Study comparing the Sulzer Carbomedics Top Hat Prosthesis and
the MCRI On-X Heart Valve." 

Sulzer Cardiovascular SA Studies:  

	(1)
	Research
Agreement by and between Sulzer Cardiovascular SA and L'Association pour la Recherche et le Developpement en Chirurgie Cardiovasculaire et Thoracique, dated
February 10, 2000 re: "Sulzer Carbomedics SuMit Valve."

	(2)
	Research
Agreement by and between Sulzer Cardiovascular SA and L'Association Rene Leriche, dated October 12, 1998 re: "Sulzer Carbomedics SuMit Valve."

	(3)
	Letter
from Professeur Jean Ninet, Hopital Cardio-Vasculaire et Pneumologique Louis Pradel, to Sulzer Cardiovascular SA dated April 26, 2002, regarding the results of the
clinical study of Carbomedics valves; and the Clinical Study Agreement between Sulzer Cardiovascular SA and La Societe Ezus-Lyon 1, S.A., dated March 10, 2000 re: "Mitroflow Synergy
PC Pericardial Bioprosthesis for Aortic Valve Replacement." 

Consulting Agreements:  

	(1)
	Consulting
Agreement by and between CMI and Ajit P. Yoganathan, Ph.D., dated January 1, 2000, as amended December 8, 2001, re: fluid mechanics as related to cardiac
valve prostheses.

	(2)
	Medical
Consulting Agreement by and between CMI and Robert B. Wallace, M.D., dated January 1, 2002, re: customer issues and marketing and clinical literature.

	(3)
	Consulting
Agreement by and between CMI and Navin C. Nanda, M.D., dated January 15, 2002, re: echocardiography; and Services Agreement by and between CMI and Navin C. Nanda,
M.D., dated July 6, 2001, re: Clinical Investigation of the Sulzer Carbomedics Oxford Stentless Bioprosthesis with Duranol for Aortic Valve Replacement—Echocardiography.

	(4)
	Consulting
Services Letter Agreement by and between CMI and Marcus Stiles, dated March 12, 2002, re: specialized surgical procedures and techniques.

	(5)
	Consulting
Agreement by and between CMI and Anne Wilson, dated November 27, 2000, as amended January 10, 2001, March 2, 2001 and May 20, 2002, re:
sterilization projects. 

	(6)
	Consulting
Agreement by and between CMI and Philip Deverall, M.B., F.R.C.S., dated January 1, 1998, as amended December 2, 1998, December 8, 1999,
January 1, 2001 and January 1, 2002, re: physician consulting services. 

(v)    Distributor/ Reseller Agreements:

CMI Representative Agreements—United States:  

	(1)
	Manufacturer's
Representative Agreement by and between CMI and Innovative Medical Devices dated October 18, 2001, as amended February 21, 2001 and February 28,
2002. (Not terminable at will within 90 days).

	(2)
	Consulting
Agreement by and between CMI and Innovative Surgical Products, Inc. dated January 1, 2002. (Terminable at will within 90 days)

	(3)
	Manufacturer's
Representative Agreement by and between CMI and Life Systems, Inc. dated January 1, 2000, as amended February 1, 2000, January 1, 2002 and
October 24, 2002. (Not terminable at will within 90 days)

	(4)
	Manufacturer's
Representative Agreement by and between CMI and Scanlon Cardiopulmonary dated July 1, 2000, as amended August 7, 2000, April 10, 2001,
September 5, 2001 and February 11, 2002. (Not terminable at will within 90 days)

	(5)
	A
list of all sales representatives is attached. 

Distribution Network Agreements—ROW International Sales:  

	(1)
	Distribution
Agreement by and between CMI and Bridgejoin Medical Technology Co. Ltd. dated January 1, 2002. (Terminable at will within 90 days).

	(2)
	Letter
Agreement by and between CMI and Biomedic S.A.R.L. dated July 1, 1992, as amended March 9, 1993, January 27, 2001 and July 30, 2002, effective
January 1, 2002. (Not terminable at will within 90 days).

	(3)
	Distribution
Agreement by and between CMI and Biomedical Technology Corporation dated February 1, 2002. (Terminable at will within 90 days).

	(4)
	Distribution
Agreement by and between CMI and Corpo & Medica Cia. Ltda. dated July 1, 1995, as amended October 29, 2002 effective January 1, 2002.
(Not terminable at will within 90 days).

	(5)
	Letter
of Authorization for Dinamik dated February 1, 2002 re: appointment as distributor for FY 2001; Exhibit A (Annual Purchase Objectives) by and between CMI and
Dinamik dated February 27, 2002 effective January 1, 2002. (No provision regarding termination).

	(6)
	Distribution
Agreement by and between CMI and Dong-A Pharmaceutical Co., Ltd. dated February 1, 2001, as
amended                        , 2001
and                        
effective January 1, 2002. (Terminable at will within 90 days).

	(7)
	Letter
Agreement by and between CMI and Egyptian Company for Supplies dated April 1, 1993, as amended February 4, 2002 effective January 1, 2002. (Not terminable
at will within 90 days).

	(8)
	Letter
Agreement by and between CMI and EMSO Limited dated October 1, 1994, as amended February 2, 2001
and                        effective January 1, 2002. (Not
terminable at will within 90 days).

	(9)
	Distribution
Agreement by and between CMI and Gulf Medical Co. Ltd. dated January 1, 1994, as amended February 5, 2002 effective January 1, 2002. (Not
terminable at will within 90 days).

	(10)
	Letter
Agreement by and between CMI and Heart Care India Co. dated January 19, 1998, as amended July 11, 2002, effective January 1, 2002. (Not terminable at will
within 90 days). 

	(11)
	Distribution
Agreement by and between CMI and Japan Lifeline Co., Ltd dated January 1, 1993, as amended March 19, 1997, January 1, 1999, October 8,
2001 and November 5, 2001; and Caretaker Agreement dated October 2, 1998. (Terminable at will within 90 days).

	(12)
	Letter
Agreement by and between CMI and Jincheng International Development Company dated January 1, 2000, as amended June 13, 2000 and January 17, 2002 effective
January 1, 2002. (Not terminable at will within 90 days).

	(13)
	Distribution
Agreement by and between CMI and King Health Ltd dated January 1, 2002, as amended January 16, 2002 effective January 1, 2002. (Terminable at
will within 90 days).

	(14)
	Distribution
Agreement by and between CMI and Labcor Laboratories Ltda. dated August 1, 1995, as amended December 31, 1999 and May 17, 2000. (Not
terminable at will within 90 days).

	(15)
	Consulting
Agreement by and between CMI and Lindy Chan dated January 1, 2002. (Terminable at will within 90 days).

	(16)
	Distribution
Agreement by and between CMI and Macare Medical Inc. dated January 1, 2002. (Terminable at will within 90 days).

	(17)
	Exhibit A
(Annual Purchase Objectives) by and between CMI and Medical Equipment Agency dated                        effective January 1,
 2001. (No provision regarding
termination).

	(18)
	Letter
of Authorization for M/S. Ved Med Software Pvt. Ltd. dated May 1, 2002 re: appointment as distributor since FY 1998; Exhibit A (Annual Purchase
Objectives) by and between CMI and M/S. Ved Med Software & Training Pvt. Ltd. dated            effective January 1, 2002. (No provision regarding termination).

	(19)
	Distribution
Agreement by and between CMI and MODE Medical Inc. dated January 1, 2000, as amended January 1, 2002. (Terminable at will within 90 days).

	(20)
	Exhibit A
(Annual Purchase Objectives) by and between CMI and Mustafa Sultan Science & Industry (a/k/a Mustafa & Jawad)
dated                        effective
January 1, 2001, as amended October 31, 2002 effective January 1, 2002. (No provision regarding termination).

	(21)
	Distribution
Agreement by and between CMI and Nefromedicas Ltda dated January 1, 1995, as amended            effective January 4, 1999 and July 24,
2002 effective January 1, 2002. (Not terminable at will within 90 days).

	(22)
	Letter
Agreement by and between CMI and Pimex Medical Equipment dated April 1, 1995, as amended January 21, 2002 effective January 1, 2002. (Not terminable at
will within 90 days).

	(23)
	Distribution
Agreement by and between CMI and TAG Medical Pty. Ltd dated December 31, 1998, as amended January 1, 2002. (Terminable at will within
90 days).

	(24)
	Distribution
Agreement by and between CMI and Taiwan Biomedical Instruments Ltd dated July 1, 1995, as
amended                        effective January 1, 2001 and
                        effective January 1, 2002. (Not terminable at will within 90 days).

	(25)
	Distribution
Agreement by and between CMI and Thermal International (s) Pte, Ltd. dated January 1, 1999, as amended December 14, 2000 and July 24,
2002 effective January 1, 2002. (Terminable at will within 90 days).

	(26)
	Distribution
Agreement by and between CMI and Viking Medical & Surgical Pty. Ltd. dated January 1, 2002. (Terminable at will within 90 days).

	(27)
	Letter
Agreement by and between CMI and WACSAD Trading dated June 1, 1999, as amended January 17, 2002 effective January 1, 2002. (Not terminable at will within
90 days). 

Distribution Network Agreements—Western Europe:  

	(1)
	Distribution
Agreement by and between CMI and A/S Vingmed Denmark dated January 1, 1999, as amended January 16, 2002 effective January 1, 2002. (Terminable at
will within 90 days).

	(2)
	Letter
Agreement by and between CMI and Bailey Medical Services Ltd. dated April 1, 1995, as amended April 2, 1997, March 9, 2001 effective
February 2, 2001 and January 24, 2002 effective January 1, 2002. (Not terminable at will within 90 days).

	(3)
	Distribution
Agreement by and between MIT (CMI) and C. Nicolai GmbH & Co. KG dated May 1, 1996, as amended January 24, 1997, November 18, 1998,
February 28, 1998, November 1, 1999, March 8, 2001, November 29, 2001, January 21, 2002 and September 12, 2002. (Not terminable at will within
90 days).

	(4)
	Distribution
Agreement by and between CMI and G.M.B. Ltd dated February 12, 2002, as amended February 25, 2002 effective January 1, 2002. (Terminable at
will within 90 days).

	(5)
	Distribution
Agreement by and between CMI and Levi BioMedical 2000 s.r.l. dated May 31, 2000, as amended March 12, 2001, February 23, 2002 and July 11,
2002. (Terminable at will within 90 days).

	(6)
	Distribution
Agreement by and between CMI and Limedic A.B. dated September 1, 1994, as amended January 1, 1995, February 19, 2001 and January 15, 2002
effective January 1, 2002. (Not terminable at will within 90 days).

	(7)
	Distribution
Agreement by and between CMI and Medi Point S.A. dated January 1, 2000, as amended February 2, 2001 and January 11, 2002 effective January 1,
2002. (Not terminable at will within 90 days).

	(8)
	Distribution
Agreement by and between CMI and Medi-Stim a.s. dated January 1, 1999, as amended February 20, 2001 and January 16, 2002 effective
January 1, 2002. (Terminable at will within 90 days).

	(9)
	Distribution
Agreement by and between CMI and Palex Medical SA (f/k/a Cormedica SA) dated January 1, 1997, as amended January 1, 2000, May 18, 2000,
                        , 2000, July 18, 2000, March 8, 2001, September 15, 2001, December 20, 2001 and
January 23, 2002 effective January 1, 2002. (Not terminable at
will within 90 days).

	(10)
	Letter
Agreement by and between CMI and Pharma-Cos Limited dated February 1, 1995, as amended February 3, 2001 and January 24, 2002 effective
January 1, 2002. (Not terminable at will within 90 days).

	(11)
	Distribution
Agreement by and between CMI and Planmed A.G. dated January 1, 1999, as amended                        effective
January 1, 2001 and January 22, 2002
effective January 1, 2002. (Terminable at will within 90 days).

	(12)
	Distribution
Agreement by and between CMI and Sulzer International (n/k/a Sulzer Markets and Technology Ltd.) dated October 1, 1996, as amended October 1, 1999
and February 1, 2000. (Terminable at will within 90 days).

	(13)
	Distribution
Agreement by and between CMI and WL-Medical OY dated January 1, 1995, as amended February 7, 2001 and January 15, 2002 effective
January 1, 2002. (Not terminable at will within 90 days).

	(14)
	Contract
No./Umowa Nr PL/000837583/01/0208 by and between CMI and Institute of Cardiology dated August 2, 2001. (No provision regarding termination).

	(15)
	Distribution
Agreement by and between CMI and CarboMedics U.K. Ltd., dated January 1, 1995. (Not terminable at will within 90 days). 

	(16)
	Letter
Agreement by and between CMI and Majestic International dated May 15, 2000. (No provision regarding termination).

	(17)
	A
Letter of Appointment is being prepared by and between CMI and Overseas Medical.

	(18)
	A
Renewal Letter is being prepared by and between CMI and Cure Medical. 

Distribution Network Agreements—CVD:  

	(1)
	Distribution
Agreement by and between CVD and Cardiomedical GmbH, dated October 15, 1999, as amended January 31, 2002. (Foreign Language Documents). 

Distribution Network Agreements—Sulzer Cardiovascular AG:  

	(1)
	Distribution
Agreement by and between Sulzer Cardiovascular AG and MCM mdsys AG, dated October 1, 2001. (Foreign Language Document). 

Distribution Network Agreements—CVNL:  

	(1)
	Exhibit A
(Annual Purchase Objectives) by and between CMI and CVNL (CVNL), dated January 16, 2002, effective January 1, 2002. (No provision regarding
termination). 

Distribution Network Agreements—Sulzer Cardiovascular SA:  

	(1)
	Commercial
Agent Agreement by and between Sulzer Cardiovascular France SA and CPN SARL dated October 15, 2001. (Foreign Language Document).

	(2)
	Exclusive
Commercial Agent Agreement by and between Sulzer Cardiovascular SA and Jacques Maurau dated January 8, 2002. (Foreign Language Document).

	(3)
	Letter
Agreement regarding renewal of the Exclusive Agency Agreement by and between Sulzer Cardiovascular SA and Société Inter Médicale et
Pharmaceutique, Khaled Keddari, dated May 29, 2002. (Foreign Language Document). 

Distribution Network Agreements—Target Company as Distributor:  

	(1)
	Distribution
Agreement by and between Sulzer Cardiovascular SA and AFx inc., dated July 23, 2002. (Not terminable at will within 90 days).

	(2)
	Distribution
Agreement by and between Sulzer Carbomedics UK Ltd and AFx inc., dated July 23, 2002. (Not terminable at will within 90 days).

	(3)
	Distribution
Agreement by and between Sulzer Cardiovascular AG and AFx inc., dated July 23, 2002. (Not terminable at will within 90 days).

	(4)
	Distribution
Agreement by and between Sulzer Medica Canada, Inc. and AFx inc., dated July 23, 2002. (Not terminable at will within 90 days).

	(5)
	Distribution
Agreement between CVD and AFx inc., dated July 23, 2002. (Not terminable at will within 90 days).

	(6)
	Sales
Representative Agreement by and between CMI and Starion Instruments Corp. dated August 1, 2002 and Release dated October 21, 2002 re: sale of Starion products.
(Terminable at will within 90 days).

	(7)
	Distribution
Agreement by and between CMI and Labcor Laboratories Ltda., dated March 27, 1997, as amended May 23, 1997 and December 31, 1999. (Terminable
at will within 90 days, with penalty).

	(8)
	International
Distribution Agreement by and between Sulzer Cardiovascular AG and Bio-Vascular, Inc. dated November 1, 2000, as amended November 1,
2001. (No provision regarding termination). 

	(9)
	Exclusive
Distributorship Agreement by and between Sulzer Medica Canada Inc. and ELA Medical SA dated February 14, 2002. (No provision regarding termination).

	(10)
	2002
Exclusive Distribution Agreement by and between Sulzer Medica Canada Inc. and Scanlan International, Inc. dated January 1, 2002. (Terminable at will within
90 days).

	(11)
	Distributorship
Agreement by and between Sulzer Medica Canada Inc. and Microvena Corporation dated September 24, 2001. (Not terminable at will within 90 days).

	(12)
	Distributorship
Agreement by and between Sulzer Medica Canada Inc. and Endicor Medical dated September 24, 2001. (Not terminable at will within 90 days).

	(13)
	International
Distributor Agreement by and between Sulzer Medica Canada Inc. and Endologix, Inc dated September 1, 2001. (Not terminable at will within 90 days).

	(14)
	Distributor
Agreement by and between Sulzer Medica Canada Inc. and California Medical Laboratories Inc. dated July 25, 2001. (Not terminable at will within
90 days).

	(15)
	Distributor
Agreement by and between Sulzer Medica Canada Inc. and Terumo Medical Corporation dated April 1, 2001. (No provision regarding termination).

	(16)
	Distribution
Agreement by and between Sulzer Medica Canada Inc. and Perclose, Inc. dated April 1, 2001. (Terminable at will within 90 days).

	(17)
	Distributorship
Agreement by and between Sulzer Medica Canada Inc. and Haemonetics Corporation dated January 1, 1999. (Terminable at will within 90 days).

	(18)
	Distributorship
Agreement by and between Sulzer Medica Canada Inc. and Biocompatibles Ltd of Frensham House dated May 26, 1998, as amended December 22,
1999. (Not terminable at will within 90 days; upon termination by Sulzer Medical Canada, Sulzer Medica Canada must provide a subdistributor and customer list).

	(19)
	Distributor
Agreement by and between Sulzer Medica Canada Inc. and International Technidyne Corporation, dated May 1, 1997 as amended July 9, 1999. (Not
terminable at will within 90 days).

	(20)
	Distributorship
Agreement by and between Coroneo Inc. and Sulzer Cardiovascular SA dated January 26, 2001. (No provision regarding termination).

	(21)
	Distribution
Agreement by and between Pan Medical Ltd. and Sulzer Cardiovascular SA dated June 15, 1999, as amended June 5, 2000. (Not terminable at will within
90 days).

	(22)
	Declaration
of Labcor Laboratorios Ltda., dated June 10, 1998, appointing Sulzer Cardiovascular SA as exclusive distributor. (Foreign Language Document). 

(vi)    Intercompany Agreements:

	(1)
	Agreement
between Sulzer Medica USA Inc. and Sulzer Medica Canada Inc. re: Invoicing of Administrative Service Costs.

	(2)
	Distribution
Agreement, dated January 1, 1995, between CarboMedics U.K. Ltd. and CMI.

	(3)
	Agreement,
dated December 26, 1991, between CMI and Primebook Limited (n/k/a Sulzer Carbomedics UK Ltd.).

	(4)
	Agreement
between Sulzermedica USA, Inc. and Carbomedics U.K., Ltd. regarding Invoicing of Administrative Service Costs dated November 29, 1996.

	(5)
	Agreement
by and between Sulzer Cardiovascular AG and Sulzer Orthopedics Ltd., dated April 12, 1999 re: Services and Facilities Procurement and Supply Agreement.

	(6)
	Ethylene
Oxide Processing Agreement between Vascutek Limited and CMI, dated January 21, 2002. 

	(7)
	Domination
and Profit and Loss Pooling Agreement by and between CVD and Centerpulse Germany Holding GmbH dated May 1, 1996.

	(8)
	See
also Section 3.14—Intellectual Property.

	(9)
	See
also Section 3.15(v)—Distributor/ Reseller Agreements.

	(10)
	The
Target Companies are subject to certain liabilities for intercompany debt which will be discharged on or prior to Closing. 

(vii)    Joint Venture/ Strategic Alliance/ Collaboration Agreements material to the Valves Business: 

	(1)
	Technology
Transfer Agreement by and between Sulzer CMI and Labcor Laboratories Ltda. dated December 31, 1999 re: Synergy ST valves and Oxford valves.

	(2)
	Carbon
Agreement by and between by and between CMI and ATS Medical, Inc. (f/k/a Helix BioCore, Inc.), dated December 29, 1999, as amended May 24, 2000,
November 15, 2001 and June 27, 2002 re: bileaflet heart valve prosthesis.

	(3)
	Sampling
Agreement by and between CMI and ABIOMED, Inc. dated March 8, 2002.

	(4)
	Sampling
Agreement by and between CMI and The Pennsylvania State University, College of Medicine dated April 22, 2002.

	(5)
	Letter
Agreement by and between CMI and Cook Biotech Incorporated signed August 15, 2001.

	(6)
	Development
Agreement by and between CMI and Helix BioCore, Inc. (n/k/a ATS Medical, Inc.) dated September 24, 1990, as amended November 1, 1991,
February 12, 1992 and June 19, 1992.

	(7)
	Certain
administrative and corporate services of the Valves Business are supported by persons located in the Selling Entities' offices in Houston and Switzerland. 

(viii)    Leases of Real Property:

	(1)
	See
Section 3.16—Real Property. 

(ix)    Purchase or Sale Agreements:

Unless
otherwise noted, none of the contracts in this subsection (ix) entitled "Purchase or Sale Agreements" rise to the threshold of $500,000. 

Manufacturing Agreement:  

	(1)
	Manufacturing
Agreement by and between CMI and ProPharma Limited. 

O.E.M. Supply Contracts:  

	(1)
	O.E.M.
Supply Contract by and between CMI and AorTech Europe Limited dated September 23, 1994, as amended June 16, 1995. (Not terminable at will within 90 days).

	(2)
	O.E.M.
Supply Contract by and between CMI and Medical CV Inc., f/k/a CV Dynamics d/b/a Medical Incorporated dated July 24, 1998 and amended March 6, 2001. (Not
terminable at will within 90 days).

	(3)
	O.E.M.
Supply Contract by and between CMI and Helix BioCore, inc.,. (n/k/a ATS Medical, Inc.) dated September 24, 1990, as amended November 9, 1991,
June 19, 1992, December 4, 1992, December 16, 1993, September 1, 1994, February 19, 1999, December 29, 1999, November 3, 2000, December 10, 2001
and June 27, 2002. (Not terminable at will within 90 days, revenue in excess of $500,000). 

Purchase Agreements:  

	(1)
	Master
Purchasing Agreement by and between CMI and MG Industries dated July 1, 2001. (Not terminable at will within 90 days).

	(2)
	Supply
Agreement by and between CMI and Poco Graphite, Inc. dated June 28, 2002. (Terminable at will within 90 days).

	(3)
	Agreement
by and between CMI and Praxair dated July 1, 1996. (Not terminable at will within 90 days).

	(4)
	Purchasing
Agreement by and between CMI and Healthtrust Purchasing Group dated November 1, 2002 re: Heart Valves and Annuloplasty Rings. (Revenues likely to exceed $500,000;
terminable at will within 90 days). 

Consignment Agreements:    Each of the Target Companies is a party to numerous consignment arrangements with various hospitals around the
world regarding the consignment of its products. 

Software Licenses and Maintenance Agreements: 

CMI:  

	(1)
	UWEB
Box Counting Software End Use License Agreement by and between CMI and The University of Washington dated October 19, 1999. (Terminable at will within 90 days).

	(2)
	Software
License Agreement by and between CMI and DNASTAR, Inc. dated November 19, 1996. (No provision regarding termination).

	(3)
	Database
Subscription Agreement by and between CMI and Clinical Pathways LLC dated October 20, 1998. (No provision regarding termination).

	(4)
	Software
License Agreement by and between CMI and Hibbitt, Karlsson & Sorensen, Inc. dated October 16, 1998. (Terminable at will within 90 days).

	(5)
	Lucent
Technologies SYSTIMAX Structured Cabling Systems Fifteen Year Extended Product Warranty and Application Assurance, Registration Numbers AA8011, AA8012, AA8013, AA8014, dated
December 31, 1997.

	(6)
	Software
License Agreement by and between CMI and Majaro Info Systems, Inc. dated December 14, 1995. (Not terminable at will within 90 days).

	(7)
	Web
and Phone Conferencing Services Agreement by and between CMI and Raindance Communications, Inc. effective January 29, 2002 (including Web and Phone Conferencing
Services Agreement, dated September 20, 2001). (Not terminable at will within 90 days).

	(8)
	Software
License and Services Agreement by and between CMI and Oracle Corporation dated July 22, 1996, as amended (including Network Server Option Order Form, dated
February 26, 1996, as amended July 22, 1996 and the Time and Materials Engagement Contract, dated June 3, 1998). (Terminable at will within 90 days)

	(9)
	Microsoft
Enterprise Enrollment between Sulzer Orthopedics Ltd. (Switzerland) and Microsoft Ireland Operations Limited signed April 27, 2001. Note: Sulzer Cardiovascular
SA, Sulzer Medica Canada Inc., Sulzer Cardiovascular AG and Sulzer Carbomedics UK Ltd are also serviced under this Agreement. (Not terminable at will within 90 days).

	(10)
	Service
Agreement by and between CMI and WilTel Communications Systems, Inc. dated September 6, 1995. (Not terminable at will within 90 days).

	(11)
	Purchase
Order dated            for Southwestern Bell regarding maintenance of Cisco network communications equipment. 

	(12)
	Purchase
Order dated December 11, 2001 for EMC Corporation Agreement regarding hardware/ software maintenance for the Oracle business system hardware environment. (No
provision regarding termination).

	(13)
	Purchase
Order dated May 6, 2002 for Accudata Systems, Inc. regarding Checkpoint Software (intercompany communications) maintenance.

	(14)
	Purchase
Order dated June 12, 2002 for Kronos Inc. regarding time and attendance system maintenance; Depot Exchange Maintenance Agreement dated April 12, 1999.
(No provision regarding termination).

	(15)
	Master
Agreement re: AT&T Telecommunications Agreement for long distance telephone and internet services signed September 13, 2002. (Not terminable at will within
90 days). 

Sulzer Cardiovascular SA:  

	(1)
	Purchase
order for Scala regarding maintenance of Scala Business System Software. 

MIT:  

	(1)
	Internetworking
Services Agreement by and between MIT and Telus Advanced Services Inc. dated December 24, 2001, as amended November 14, 2002. (Not terminable at
will within 90 days).

	(2)
	Network
Solutions domain name web renewal for MIT for the period July 7, 2001 to July 7, 2003. (Not terminable at will within 90 days).

	(3)
	ISDN-PRI
Access Service Contract with Telus Telecommunication Agreement (New Vancouver Facility) dated November 14, 2002. (Terminable at will within 90 days
with de minimus penalty). 

Sulzer Medica Canada:  

	(1)
	Invoice
from Laurier CIM Group to Sulzer Medica Canada dated October 15, 2001. (No provision regarding termination); and Schedule A regarding IBM RS/6000 Hardware/
Software Maintenance dated May 24, 2002. (Terminable at will within 90 days).

	(2)
	Worldcom
Internet ADSL Contract, dated March 7, 2002. (No provision regarding termination). 

Sulzer Carbomedics UK:  

	(1)
	On
Site Maintenance Agreement by and between Sulzer Carbomedics UK Limited and ROCC Computers Limited dated January 29, 1999. (Not terminable at will within 90 days). 

(x)    Sole Source Supply Contract:

	(1)
	Agreement
between XL Beef, as Vendor, and MIT entered into November 1, 2001, as amended, re: appointment as vendor of raw bovine pericardial tissue. (Terminable at will within
90 days, with annual payments below $500,000). 

(xi)    Contracts with Employees: 

Change of Control Agreements: 

CMI: 

	(1)
	Change
in Control Agreement between CMI and Albert E. Alonso dated as of August 1, 2001.

	(2)
	Change
in Control Agreement between CMI and Al Beavan dated as of December 1, 2000. 

	(3)
	Change
in Control Agreement between CMI and Thomas D. Birdsall dated as of July 1, 2001, as amended December 1, 2001.

	(4)
	Change
in Control Agreement between CMI and Scott Bell dated as of December 1, 2000.

	(5)
	Change
in Control Agreement between CMI and Russell Brown dated as of December 1, 2000.

	(6)
	Change
in Control Agreement between CMI and Steve Carleton dated as of December 1, 2000.

	(7)
	Change
in Control Agreement between CMI and Roberto Caudillo dated as of March 1, 1999, as amended March 1, 1999.

	(8)
	Change
in Control Agreement between CMI and Darryl Cummings dated as of June 1, 2001, as amended December 1, 2000 and November 18, 2002.

	(9)
	Change
in Control Agreement between CMI and James Deegan dated as of March 1, 1999, as amended December 1, 2000.

	(10)
	Change
in Control Agreement between CMI and Terry Fahey dated as of December 1, 2000.

	(11)
	Change
in Control Agreement between CMI and Douglas Frank dated as of March 1, 1999, as amended December 1, 2000.

	(12)
	Change
in Control Agreement between CMI and Charles Griffin dated as of June 1, 2001, as amended December 1, 2000.

	(13)
	Change
in Control Agreement between CMI and John L. Groover dated as of March 1, 1999, as amended December 1, 2000 and September 9, 2002.

	(14)
	Change
in Control Agreement between CMI and Donald M. Hamlet dated as of December 1, 2000.

	(15)
	Change
in Control Agreement between CMI and Don James dated as of March 1, 1999, as amended December 1, 2000.

	(16)
	Change
in Control Agreement between CMI and Jeffrey Kepner dated as of December 1, 2000.

	(17)
	Change
in Control Agreement between CMI and Pat Kothe dated as of December 1, 2000.

	(18)
	Change
in Control Agreement between CMI and Mark Moore dated as of December 1, 1999, as amended December 1, 2000.

	(19)
	Change
in Control Agreement between CMI and Ed Newton dated as of December 1, 2000.

	(20)
	Change
in Control Agreement between CMI and Richard E. Phillips dated as of July 1, 2001.

	(21)
	Change
in Control Agreement between CMI and Carl Popelar dated as of December 1, 2000.

	(22)
	Change
in Control Agreement between CMI and David Reaves dated as of December 1, 2000.

	(23)
	Change
in Control Agreement between CMI and Ken Ryder dated as of July 1, 2001.

	(24)
	Change
in Control Agreement between CMI and Mark Seboldt dated as of March 1, 1999, as amended December 1, 2000.

	(25)
	Change
in Control Agreement between CMI and Lisa Standley dated as of July 1, 2001.

	(26)
	Change
in Control Agreement between CMI and John Carnagey dated December 1, 2000.

	(27)
	Change
in Control Agreement between CMI and Keith Buckley dated December 1, 2000.

	(28)
	Change
in Control Agreement between CMI and Ken Cox dated December 1, 2000.

	(29)
	Change
in Control Agreement between CMI and Pierre Twer dated July 13, 2000. 

	(30)
	Change
in Control Agreement between CMI and James Hong dated December 1, 2000.

	(31)
	Change
in Control Agreement between CMI and Rose Borra dated December 1, 2000.

	(32)
	Change
in Control Agreement between CMI and Russell Clausen dated December 1, 2000.

	(33)
	Change
in Control Agreement between CMI and Chris Schneider dated July 1, 2001. 

Mitroflow:  

	(1)
	Change
in Control Agreement between MIT and Jennifer Arntrop dated as of December 1, 2001.

	(2)
	Change
in Control Agreement between MIT and Karen Bell dated as of December 1, 2001.

	(3)
	Change
in Control Agreement between MIT and Maya Butterfield dated as of August 1, 2001.

	(4)
	See
Section 3.07—Absence of Undisclosed Liabilities re: Paul Geyer, former owner of MIT. 

Employment Agreements: 

	(1)
	Employment
Agreement between CMI and Michael Barrett dated as of November 21, 1991.

	(2)
	Employment
Agreement between CMI and Manfred Eggers dated as of November 22, 1991.

	(3)
	Contract
between CMI and Juan Querol dated as of October 16, 1991.

	(4)
	Employment
Agreement between CVNL and Kees Feller dated as of October 20, 2000.

	(5)
	Employment
Agreement between CVNL and Koen Junggerburth dated as of April 30, 2001.

	(6)
	Letter
Agreement between Sulzer Cardiovascular SA and Christele Delapierre dated as of March 23, 1992.

	(7)
	Contrat
de Travail between Sulzer Cardiovascular SA and Jean-Phillipe Beydon dated as of September 26, 1988.

	(8)
	Contrat
de Travail between Sulzer Cardiovascular SA and Patricia Brunel dated as of November 13, 2001.

	(9)
	Contrat
de Travail between Sulzer Cardiovascular SA and Didier Crouzet dated as of February 7, 1994.

	(10)
	Contrat
de Travail between Sulzer Cardiovascular SA and Richard Gora dated as of January 4, 1994.

	(11)
	Contrat
de Travail between Sulzer Cardiovascular SA and Yves Lalou dated as of April 12, 2001.

	(12)
	Contract
of Employment between Sulzer Cardiovascular SA and Jean-Louis Norre dated as of                        .

	(13)
	Employment
Conditions and Written Particulars between Sulzer Carbomedics UK Ltd. and John Bassford dated as of May 5, 1995.

	(14)
	Employment
Conditions and Written Particulars between Sulzer Carbomedics UK Ltd. and Vicky Daily dated as of January 19, 1989.

	(15)
	Employment
Conditions and Written Particulars between Sulzer Carbomedics UK Ltd. and Mark Fitzpatrick dated as of December 21, 2000.

	(16)
	Employment
Conditions and Written Particulars between Sulzer Carbomedics UK Ltd. and Joy P. McCarron dated as of June 19, 2000.

	(17)
	Service
Agreement between Sulzer Carbomedics UK Ltd. and Jim Deegan dated as of July 9, 2002. 

	(18)
	Letter
Agreement between Sulzer Carbomedics UK Ltd. and Ian Smith dated as of June 11, 1996.

	(19)
	Employment
Agreement by and between Sulzer Medica Canada and Paul Parsons dated July 1, 1995, as amended December 9, 1998. Restrictive Covenant Agreement by and between
Sulzer Medica Canada and Paul Parsons dated July 1, 1995, as amended.

	(20)
	Contract
for Managing Director by and between CVD and Mike Barret dated November 16, 1998.

	(21)
	Contract
of Association between Sulzer Cardiovascular AG and Johann Jakob Sulzer-Stiftung, dated July 6, 2001 re: employee insurance coverage.

	(22)
	Contract
of Association between Sulzer Cardiovascular AG and Vorsorgeeinrichtung, dated July 6, 2001 re: employee insurance coverage.

	(23)
	Employment
Agreement with Michael Heuer. 

Retention Agreements:  

	(1)
	Retention
Agreement between CMI and Hong Hoa Cao dated as of August 8, 2002.

	(2)
	Retention
Agreement between CMI and Aaron G. Draper dated as of August 8, 2002.

	(3)
	Retention
Agreement between CMI and Terry A. Fahey dated as of August 8, 2002.

	(4)
	Retention
Agreement between CMI and Dorothy E. Fellows dated as of August 8, 2002.

	(5)
	Retention
Agreement between CMI and Richard A. Florence dated as of August 8, 2002.

	(6)
	Retention
Agreement between CMI and Joanne M. Ford dated as of August 8, 2002.

	(7)
	Retention
Agreement between CMI and Scott E. Hendrix dated as of August 8, 2002.

	(8)
	Retention
Agreement between CMI and Timothy A. Kelley dated as of August 8, 2002.

	(9)
	Retention
Agreement between CMI and Tressie C. Meads dated as of August 8, 2002.

	(10)
	Retention
Agreement between CMI and Marianna C. Musick dated as of August 8, 2002.

	(11)
	Retention
Agreement between CMI and Edward E. Newton dated as of August 8, 2002.

	(12)
	Retention
Agreement between CMI and Karen O. Noffsinger dated as of August 8, 2002.

	(13)
	Retention
Agreement between CMI and Mary C. Onxley dated as of August 8, 2002.

	(14)
	Retention
Agreement between CMI and Nancy J. Painter dated as of August 8, 2002.

	(15)
	Retention
Agreement between CMI and Judy Shao dated as of August 8, 2002.

	(16)
	Retention
Agreement between CMI and Lisa Standley dated as of August 8, 2002.

	(17)
	Retention
Agreement between CMI and Joseph L. Thornton dated as of August 8, 2002. 

Sales Bonus Arrangements:  

        Sales Bonus Arrangements exist between the Target Companies and the following persons: 

	J. P. Beydon	 	Mike Heuer
	R. Gora	 	Mike Barrett
	D. Crouzet	 	Walter Albertz
	J. L. Norre	 	Kevin J. Anderson
	Kees Feller	 	Peter P. Barcia Jr.
	Koen Junggeburth	 	Ronald S. Bell
	Don Graham	 	Thomas D. Birdsall
	Gayl Cryer	 	Jonathan M. Coleman
	Dave Fleming	 	John M. Conners Jr.
	Shelley van Gelder	 	Ronda M. Diverde
	Doug Green	 	Glendon E. Durham
	Norman Manocchio	 	Mark Hamlet
	Stephen Murphy	 	Ken Harris
	Jim Ulrich	 	Jeffrey P. Kaye
	Scott Dick	 	James F. Lambert
	Paul Parsons	 	Barbara N. Logan
	Michelle Becker	 	Garland M. Lowe
	Maria Rigante	 	James J. McCabe
	Juan Querol	 	Scott L. McCormick
	Roberto Caudillo	 	Thomas P. Mellos
	Linda Printz	 	John P. Musachia
	John Bassford	 	James E. Poole
	Ian Smith	 	Geraldine O. Richards
	Mark Fitzpatrick	 	Joseph S. Smith
	Jim Deegan	 	Robert W. Stiles
	Manfred Eggar	 	Pierre M. Twer
	Cameron M. Wallace	 	David J. Van Deusen

Tuition Reimbursement Agreements:  

	(1)
	Tuition
Reimbursement Agreement between CMI and Hong Hoa Cao dated as of October 3, 2000.

	(2)
	Tuition
Reimbursement Agreement between CMI and Scott McCormick dated as of October 10, 2000. 

(xiii)  Other Material Contracts:

Unless
otherwise noted, none of the contracts in this subsection (xiii) entitled "Other Material Contracts" rise to the threshold of $500,000. 

CMI:  

	(1)
	Share
Purchase Agreement by and among 3034167 Nova Scotia Company, Mitroflow Enterprises Ltd. and the other parties named therein, dated October 21, 1999.

	(2)
	Indemnification
Agreement by and between CMI and Stelrema Corporation dated November 14, 2002 regarding Dupont Delrin 500P NC010 acetal homopolymer. (Not terminable at will
within 90 days, payments in excess of $500,000 annually).

	(3)
	Indemnification
Agreement by and between CMI and Stelrema Corporation dated May 16, 2002 regarding VT-200's leaflet tester. 

	(4)
	Letter
of Intent by and between CMI and ITC dated October 17, 2002 re: Co-Marketing Agreement for the ProtTime INR Monitor.

	(5)
	FedEx
Express Corporate Pricing Program Agreement by and between CMI and Federal Express Corporation dated May 3, 2002.

	(6)
	United
Parcel Service Agreement by and between CMI and United Parcel Service, Inc. dated April 17, 2000.

	(7)
	United
Parcel Service Agreement by and between CMI. and United Parcel Service, Inc. dated June 27, 2001.

	(8)
	Environmental
Services Agreement by and between CMI and Hydro Carbon Recyclers, Inc. of San Antonio dated May 26, 1995.

	(9)
	Service
Contract by and between CMI and Sunray Building Services, Inc. dated                        effective January 1, 2002.

	(10)
	Client
Agreement by and between CMI and The Sedona Group dated June 25, 2002.

	(11)
	Terms
of Agreement by and between CMI and Granger-Thompson Consulting, A Professional Search Firm dated June 27, 2002.

	(12)
	Master
Service Agreement by and between CMI and Primedica Corporation, dated October 18, 2000, re: product development services.

	(13)
	Consulting
Agreement by and between CMI and Phoenix Regulatory Associates, Ltd., dated May 21, 1998, re: government regulatory affairs.

	(14)
	Letter
Agreement by and between CMI and Sheila Armitage, dated January 22, 2002, re: Revised Proposal for "Unified Performance Planning for Sales and Marketing."

	(15)
	Professional
Services Agreement by and between CMI and Catapult Systems Corp., dated October 5, 2000. 

CVD:  

	(1)
	Framework
Supply Agreement by and between Bundesrepublik Deutschland and CVD, dated September 8, 1999.

	(2)
	Quantity
Agreement by and between Universitätsklinikum Jena and CVD, dated November 26, 2001. 

Sulzer Carbomedics UK:  

	(1)
	Equipment
Schedule by and between Sulzer Carbomedics UK Ltd. and Act Comms dated June 10, 2002 re: telephone system.

	(2)
	Maintenance
Agreement No. M2932 by and between Sulzer Carbomedics UK Ltd. and Act Comms dated July 5, 2001. 

Sulzer Cardiovascular SA:  

	(1)
	Building
Maintenance Agreement by and between Sulzer Medica and SARL Morlan dated December 9, 1998.

	(2)
	Cleaning
Services Agreement by and between Sulzer Cardiovascular and Morlan SARL dated January 15, 1999.

	(3)
	Office
Equipment Rental and Maintenance Agreement by and between Sulzer Cardiovascular and Secap Technologies. 

	(4)
	Letter
regarding air conditioning services from Société d'Etudes et de Prestations Techniques to Sulzer Cardiovascular Volta 8 dated March 13,
2000;

	(5)
	Agreement
by and between Sulzer Cardiovascular SA and [                        ] dated October 11, 2001 regarding training of Sulzer
personnel.

	(6)
	Air
Conditioning Maintenance Agreement by and between Sulzer Cardiovascular and Société d'Etudes et de Prestations Techniques dated March 15,
2000.

	(7)
	Mail
Services Agreement by and between Sulzer Cardiovascular and Chronopost International dated December 19, 2000. 

MIT:  

	(1)
	Stipulated
Price Contract by and between MIT and Wales McLelland Construction Company (1988) Limited dated July 30, 2002. (Not terminable at will within 90 days,
payments in excess of $500,000 annually).

	(2)
	Agreement
regarding Ktec Cleanroom Systems. (Payments in excess of $500,000 annually).

	(b)
	See
Section 3.05—No Conflict. 

QuickLinks

Exhibit 4.28

EXHIBIT A

Section 3.03—Capital Stock of Target Companies

EXHIBIT B

Section 3.15—Material ContractsQuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4.29    
  

 
 

TRANSITION SERVICES AGREEMENT    
  

        THIS TRANSITION SERVICES AGREEMENT, dated as of January 21, 2003 (this "Agreement"), is entered into by and
among CENTERPULSE LTD., a corporation duly organized and existing under the laws of Switzerland ("Centerpulse"), CENTERPULSE USA HOLDING CO., a
corporation organized under the laws of Delaware ("Centerpulse USA"), SULZER CARBOMEDICS INC., a corporation organized under the laws of Delaware
("CMI") and SNIA, S.P.A., a corporation duly organized and existing under the laws of the Republic of Italy
("SNIA"). 

 
 

BACKGROUND    
  

        WHEREAS, Centerpulse, Centerpulse USA and SNIA entered into a Stock Purchase Agreement, dated as of November 26, 2002 (the
"Purchase Agreement"), pursuant to which, among other things, SNIA will acquire the Valves Business (as defined in the Purchase Agreement) of
Centerpulse. 

        WHEREAS,
prior to the consummation of the transactions contemplated by the Purchase Agreement, certain affiliates of Centerpulse operated both the Valves Business and other businesses of
Centerpulse. 

        WHEREAS,
subsequent to the consummation of the transactions contemplated by the Purchase Agreement, SNIA will require the continued services of certain of such Centerpulse affiliates or
former affiliates. In addition, Centerpulse and its affiliates will require certain services from some entities acquired by SNIA pursuant to the Purchase Agreement. 

        Capitalized
terms used herein and not otherwise defined shall have the meanings ascribed to them in the Purchase Agreement. 

 
 

AGREEMENT    
  

        NOW THEREFORE, in consideration of the foregoing, the mutual agreements contained herein and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree as follows: 

1.    Provision and Term of Services.

        (a)    Each
of the entities set forth on Exhibit A attached hereto and listed under the heading "Provider" shall provide
to the entity or entities set forth opposite its name one or more of the services listed on Exhibit A attached hereto (together with the Other
Services (as defined below), the "Services"). As used herein, the term "Provider" shall refer to any
entity providing Services, and the term "Recipient" shall refer to any entity receiving Services. The Services shall be provided in accordance with the
terms and provisions of this Agreement. Each of the parties hereto (i) shall cause each of its Affiliates that are listed on Exhibit A
under the heading "Provider" or "Recipient," as the case may be, to perform and comply with the obligations of Provider or Recipient, as applicable, pursuant to this Agreement and (ii) agrees
that each such Affiliate shall be entitled to the rights and benefits of Provider or Recipient, as the case may be, in each of clauses (i) and (ii) as if such Affiliate was a party to
this Agreement. 

        (b)    Provider
shall provide the Services at least at the same level as Provider provided the Services prior to the Closing Date, consistent with the manner and level of care
with which such Services were provided prior to the Closing Date. 

        (c)    Except
as provided in Section 3(c), each Provider shall provide the Services required to be provided by it during the term that commences on the date hereof and
ends on the date specified on Exhibit A. 

        (d)    The
parties hereto shall use commercially reasonable efforts and cooperate with each other to facilitate an orderly and expedient transition away from each party's need
for Services as Recipient. 

 

2.    Compensation for Transition Services.

        (a)    Subject
to Section 2(e), each Recipient shall pay the applicable Provider for the Services in accordance with the fee schedule set forth on  Exhibit B attached hereto or as provided in Section 3
(d). The fee to be paid in respect of a Service (including all third party expenses
and disbursements, and any other costs and expenses to be paid to or through Provider, including payroll and employee benefit costs and expenses) pursuant to the terms of this Agreement shall be
referred to herein as the "Applicable Fee." 

        (b)    Except
as otherwise provided in Exhibit B, the Applicable Fee for any Service shall be paid by Recipient on the
last day of each month, provided that the applicable Provider delivers an invoice for such month, which invoice shall be delivered to the appropriate Recipient no later than the twentieth
(20th) day of such month. If an invoice is not delivered to the appropriate Recipient on or before twentieth (20th) day of such month, Recipient shall pay the Applicable
Fee described in such invoice no later than ten (10) calendar days after receipt of such invoice. Such invoice must comply with all applicable tax requirements and separately describe the
amount for fees, expenses and value added tax, if any. 

        (c)    Recipient
shall reimburse the applicable Provider for third-party, out-of-pocket, incidental travel, lodging and food expenses incurred by
Provider in accordance with Provider's customary travel policy, within thirty (30) days of receipt of an invoice from Provider for such incidental expenses accompanied by such additional
documentation reasonably required by Recipient to verify the amount of the expense and that such expense was incurred in connection with providing the Services. Provider shall deliver such invoice and
accompanying documentation within ten (10) days following the end of the month in which such expense was incurred. 

        (d)    All
amounts payable by Recipient to Provider shall be paid by wire transfer in accordance with the wire transfer instructions provided by Provider to Recipient from time
to time. 

        (e)    Anything
in this Agreement to the contrary notwithstanding, the parties acknowledge and agree that the Applicable Fee paid for any Service is intended to equal the cost
incurred by Provider to perform such Service for Recipient (including any amounts to be disbursed to third parties in connection with the provision of any Service, including payroll and employee
benefit costs and expenses) in accordance with the provisions of this Agreement (such cost being referred to herein as the "Service Cost"). Accordingly,
the parties agree as follows: 

	(i)
	Each
of the parties shall maintain accurate books and records necessary to determine (a) the Service Cost for any Service (b) all third
party disbursements and expenses related to providing Services and (c) all payroll and employee benefit documents and records relating to dates and periods from and after the Closing Date.
Subject to reasonable security requirements, the confidentiality provisions set forth in the Purchase Agreement and Section 6 hereof, each party will make available to the other party and/or
its designated representatives, upon at least five (5) business days' prior written notice during normal
business hours, the books and records of the other party related to the determination of the matters set forth in clauses (a), (b) and (c) of this paragraph for the purpose of audit and
inspection (an "Audit"). Except as expressly set forth herein, the fees and expenses of such audit (the "Audit
Expenses") will be paid by the requesting party.

	(ii)
	Anytime
after conducting an Audit relative to the Service Cost for any Service, Recipient shall have right to deliver to Provider an Applicable Fee
Adjustment Certificate (an "AFA Certificate") in respect of such Service and the related then existing Applicable Fee. If Provider does not deliver to Recipient a Dispute Notice (as defined below)
within ten (10) business days after receipt of an AFA Certificate, then (y) the Applicable Fee for the 

2

 

Subject
Service (as defined below) shall automatically be adjusted consistent with such AFA Certificate and (z) Provider shall immediately pay to Recipient an amount equal to the Fee
Differential (as defined below) plus the related Audit Expenses. If Provider timely delivers to Recipient the Dispute Notice, then the parties shall negotiate in good faith to resolve the Subject
Dispute (as defined below). Pending the resolution of the Subject Dispute, Provider shall not have the right to suspend or terminate the Subject Service and Recipient shall continue to pay to Provider
the then existing Applicable Fee in accordance with the terms of this Agreement. Upon final resolution of the Subject Dispute, (x) the Applicable Fee for the Subject Service shall automatically
be adjusted consistent with such resolution, (y) Provider shall pay to Recipient the Fee Differential, if any, and (z) if there is a Fee Differential, Provider shall pay to Recipient the
related Audit Expenses. 

	(iii)
	Provider
shall have right to deliver to Recipient an AFA Certificate in respect of any Service provided by such Provider to such Recipient and the
related then existing Applicable Fee. If Recipient does not deliver to Provider a Dispute Notice within ten (10) business days after receipt of such AFA Certificate,  then (y) the Applicable
Fee for the Subject Service shall automatically be adjusted consistent with such AFA Certificate, and
(z) Recipient or Provider, as the case may be, shall pay to the other the Fee Differential. If Recipient timely delivers to Provider the Dispute Notice, then the parties shall negotiate in good
faith to resolve the Subject Dispute. Pending the resolution of the Subject Dispute, Provider shall not have the right to suspend or terminate the Subject Service and Recipient shall continue to pay
to Provider the then existing Applicable Fee. Upon final resolution of the Subject Dispute, (y) the Applicable Fee for the Subject Service shall automatically be adjusted consistent with such
resolution, and (z) Recipient or Provider, as the case may be, shall pay to the other the Fee Differential, if any.

	(iv)
	The
following capitalized terms used in this Section 2(e) shall have the following meanings: 

        (1)  "Applicable Fee Adjustment Certificate" or "AFA Certificate" means, in respect of any Subject Service and the Applicable
Fee for such Subject Service: 

        a.    for
the purposes of Section 2(e)(ii), a certificate executed by a senior financial officer of Recipient that includes (w) a certification that an Audit was
conducted relative to such Subject Service, and based
upon the findings of such Audit, such Applicable Fee (on an annualized basis) exceeds the related Service Cost (on an annualized basis) by more than $75,000 (excluding third party disbursements, costs
and expenses which shall not be subject to such $75,000 threshold except to the extent same are to be held in escrow for eventual return of overages on a dollar-for-dollar
basis), (x) supporting documentation relative to the findings described in the immediately preceding clause (w), (y) a demand that such Applicable Fee be adjusted consistent with
the findings of such Audit, and (z) a calculation of the applicable Fee Differential for all periods up to and including the date of such certificate. 

        b.    for
the purposes of Section 2(e)(iii), a certificate executed by a senior financial officer of Provider that includes (w) a certification that the Service
Cost (on an annualized basis) for such Subject Service exceeds such Applicable Fee (on an annualized basis) by more than $75,000 (excluding third party disbursements, costs and expenses which shall
not be subject to such $75,000 threshold except to the extent same are to be held in escrow for eventual return of overages on a dollar-for-dollar basis), (x) supporting
documentation relative to the certification described in the immediately preceding clause (w), (y) a demand that such Applicable Fee be adjusted consistent with the Service 

3

 

Cost, and (z) a calculation of the applicable Fee Differential for all periods up to and including the date of such certificate. 

        (2)  "Dispute Notice" means relative to any AFA Certificate, a notice executed by a senior financial officer of Provider or
Recipient, as the case may be, that includes (y) a rejection of the demand in the AFA Certificate to adjust the Applicable Fee and (z) the bases (and supporting documentation) for such
rejection, which bases may be, among other things that, (I) the AFA Certificate did not satisfy the requirements set forth in the definition thereof or (II) the supporting documentation
included in the AFA Certificate was not sufficiently complete to support the certification set forth therein and the demand for the adjustment to the Applicable Fee. 

        (3)  "Fee Differential" means the absolute value of the difference between (y) the aggregate Applicable Fees actually
paid to Provider for the Subject Service prior to giving effect to any adjustment to such Applicable Fees pursuant to provisions of Section 2(e) and (z) the aggregate Applicable Fees
that would have been paid to such Provider for such Subject Services had the adjustment to such Applicable Fees been made on the date hereof. For example, assume the Applicable Fee for a Service is
$100,000 per month, the first Applicable Fee is paid on January 31, 2003, and the Applicable Fee is adjusted pursuant to the terms of this Agreement to $80,000 per month after the payment of
six monthly installments of $100,000. In this case, the Fee Differential is $120,000 ($600,000—$480,000). 

        (4)  "Subject Dispute" means in the case of any Dispute Notice, the dispute subject of such Dispute Notice. 

        (5)  "Subject Service" means the Service that is the subject of such the related AFA Certificate or Dispute Notice, as the
context may require. 

3.    Other Services.    The parties hereto acknowledge and agree that Exhibit A may not contain an exhaustive list of those
continuing and material services that one party (or an Affiliate of such party) will require from another party (or its Affiliate of such other party) to effect an orderly transition following the
sale of the Valves Business (such non-listed continuing and material services being referred to herein as, the "Other Services").
Accordingly, and anything in this Agreement to the contrary notwithstanding, the parties agree that the appropriate Provider shall continue to provide to the appropriate Recipient the Other Services
without interruption and comply with the following: 

        (a)    Upon
identification at any time of a service being rendered that constitutes an Other Service, Provider or Recipient thereof shall deliver a notice to the other to such
effect; it being agreed that such notice shall set forth in reasonable detail the nature and scope of such Other Service. Promptly after receipt or delivery as the case may be of such notice, Provider
shall deliver to Recipient an invoice for all such Other Services theretofor performed since the Closing Date; it being agreed that the fee for such Other Services shall equal the Service Cost for the
same, as determined in good faith by Provider (and such fee shall be the Applicable Fee for such Service for all purposes of this Agreement); 

        (b)    Each
of the parties hereto (i) shall cause each of its Affiliates that is Provider or Recipient, as the case may be, of Other Services to perform and comply with
the obligations of Provider or Recipient, as applicable, pursuant to this Agreement and (ii) agree that each such Affiliate shall be entitled to the rights and benefits of Provider or
Recipient, as the case may be, in each of clauses (i) and (ii) as if such Affiliate was a party to this Agreement; 

        (c)    Provider
shall provide Recipient each Other Service until such time as Recipient terminates such Services by delivery to Provider of notice to such effect; provided,
that (i) Recipient shall use its reasonable best efforts to effect an orderly transition of such Other Service from Provider as soon as practicable and (ii) in no event shall Provider be
required to provide Recipient with any Other Service 

4

 

for more than the six (6) months after the date of this Agreement or such other period as the parties may mutually agree in writing; and 

        (d)    To
avoid doubt, after delivery of the first invoice with respect to any Other Service, Recipient shall continue to pay the applicable Provider the Applicable Fee for the
Other Service rendered thereafter in accordance with (and subject to) the terms of this Agreement. 

4.    Force Majeure.    The obligation of Provider to provide Services shall be suspended during the period and to the extent that
Provider is prevented or hindered from complying therewith by any law or governmental order, rule, regulation or direction, whether domestic or foreign, or by any cause beyond the reasonable control
of Provider, including acts of nature, strikes, lock outs and other labor and industrial disputes and disturbances, civil disturbances, accidents, acts of war or conditions arising out of or
attributable to war (whether declared or undeclared), shortage of necessary equipment, materials
or labor, or restrictions thereon or limitations upon the use thereof, and delays in transportation. In such event, Provider shall give notice of suspension as soon as reasonably practicable to
Recipient stating the date and extent of such suspension and the cause thereof and Provider's best estimate of the date on which it will be able to resume the performance of its obligations. In
addition, Provider will use commercially reasonable efforts during any such suspension to keep Recipient informed as to the progress of removal of the cause of such suspension. Provider shall resume
the performance of such obligations as soon as reasonably practicable after the removal of the cause and Provider shall so notify Recipient, and Recipient shall not be liable for payment of Applicable
Fees for any Service for the period in which such Service could not be provided pursuant to this Section 4. 

5.    Compliance With Law.    The parties shall undertake to provide Services in accordance and in adherence with all laws and
governmental rules, regulations and orders applicable at the place where Services are rendered, including without limitation, data protection and retention regulations. 

6.    Confidentiality.    Each party hereto shall, and shall ensure that its Affiliates shall maintain the confidentiality of all
data, information, reports, studies, suggestions and other materials regarding the other parties hereto and their Affiliates with the same level of care and in accordance with the same procedures
Provider uses with respect to its own such data, information, reports, studies suggestions and other similar materials. 

7.    Limitation of Liability; Indemnification. 

        (a)    Provider
shall not have any duties or responsibilities hereunder other than those specifically set forth herein, and no implied obligations shall be read into this
Agreement. Neither Provider nor any of its respective officers, directors, employees, agents, attorneys-in-fact or Affiliates (collectively, the
"Provider Parties") shall be liable for any action taken or omitted to be taken by it or such person under or in connection with this Agreement, except
that Provider shall be liable for losses, damages, penalties, fines, judgments, actions, claims, costs, expenses and fees (including, without limitation, reasonable attorneys' fees) (collectively,
"Losses") incurred by Recipient arising out of the gross negligence, fraud, willful defaults or misconduct of Provider in the performance of its
obligations hereunder. 

        (b)    In
Centerpulse USA's capacity in administering health and welfare benefits for employees of CMI for service dates and periods (or partial periods) from and after the
Closing Date, neither CMI nor SNIA shall look to nor consider Centerpulse USA or its Affiliates to be an insurer in any capacity of the benefits so administered. CMI, and not Centerpulse USA, is
liable for the benefit claims submitted by employees of CMI or any of the Target Companies during the term of this Agreement for benefits payable in respect of service dates or periods from and after
the Closing Date. Centerpulse USA's sole responsibility is to administer these benefits on behalf of CMI. 

        (c)    In
Centerpulse USA's capacity in administering payroll services for employees of CMI for work dates or pay periods (or partial pay periods) from and after the Closing
Date, neither CMI nor 

5

 

SNIA shall look to nor consider Centerpulse USA or its Affiliates to be responsible in any capacity for the payroll so administered. CMI, and not Centerpulse USA, is liable for the payroll of
employees of CMI or any of the Target Companies for work dates or pay periods (or partial pay periods) from and after the Closing Date during the term of this Agreement. Centerpulse USA's sole
responsibility is to administer such payroll on behalf of CMI. 

        (d)    Recipients
(together with their Affiliates signatory hereto) on the one hand and, Providers (together with their Affiliates signatory hereto) on the other hand
(collectively, "Indemnifying Parties"), shall each jointly and severally indemnify and hold harmless the other (collectively,
"Indemnified Parties") from any Losses incurred by any Indemnified Parties arising out of the gross negligence, fraud, willful defaults or misconduct of
any Indemnifying Parties with respect to this Agreement. 

8.    Notices.    Any legal notice, demand or other communication required or permitted to be given by any provision of this
Agreement (each a "Notice") shall be in writing and shall be deemed to have been properly given or served only if addressed to a party hereto at its
address set forth on Exhibit A attached hereto, and if delivered (A) by hand, (B) by certified mail, return receipt requested,
(C) by overnight commercial carrier or (D) by telefax transmission with confirmation of receipt. All such communications shall be deemed to have been properly given or served
(i) if by hand, when received, (ii) if by mail, on the date of receipt or of refusal to accept shown on the return receipt, (iii) if by overnight commercial carrier, on the date
that is one business day after the date upon which the same shall have been delivered to such overnight commercial carrier, addressed to recipient, with all shipping charges prepaid,  provided that the
same is actually received (or refused) by recipient in the ordinary course and (iv) if by telefax, on the date sent with
transmission confirmed. 

9.    No Third Party Beneficiaries.    This Agreement shall be binding upon and inure solely to the benefit of the parties hereto
and their permitted successors and assigns, and each Provider and each Recipient shall be entitled to enforce its respective rights under this Agreement against Provider or Recipient of the Service in
question. 

10.    Governing Law.    This Agreement shall be governed by, and construed in accordance with the laws of the state of New York.
The parties hereto submit to the jurisdiction of any state or federal court sitting in New York for the purpose of any suit, action or proceeding arising out of this Agreement. 

11.    Entire Agreement.    This Agreement, together with the Purchase Agreement and the Schedules and Exhibits thereto and the
Schedules and Exhibits hereto, sets forth all of the promises, covenants, agreements, conditions, and undertakings between the parties hereto with respect to the subject matter hereof and supersedes
all prior and contemporaneous agreements and understandings, inducements or conditions, express or implied, oral or written. The Schedules and Exhibits to this Agreement constitute an integral part of
this Agreement. 

12.    No Assignment.    This Agreement shall not be assignable (directly or indirectly—by operation of law or
otherwise) by either party hereto without the prior written consent of the other party hereto; and any attempt to assign this Agreement in violation this provision shall be void. This Agreement shall
be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. 

13.    Waiver.    No provision of this Agreement may be waived except by an instrument in writing signed by the party sought to be
charged with the effect of such waiver. The failure of a party to this Agreement to assert a right or exercise a remedy hereunder shall not waive such right or remedy or any future rights or remedies. 

14.    Status.    For purposes of this Agreement, Provider is, and will be deemed to be, an independent contractor only and not an
agent, joint venturer, partner, or representative of Recipient. Neither Provider nor Recipient may create any obligations or responsibilities on behalf of or in the name of the other hereunder. 

6

 

15.    Amendment.    This Agreement may not be amended or modified except by an instrument in writing signed by Centerpulse and
SNIA. 

16.    Severability.    This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision
hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the
parties intend that there shall be added as a part of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be valid and enforceable, so as to effect the
original intent of the parties to the greatest extent possible. 

17.    Survival.    Except as may be expressly provided in this Agreement, the provisions of Section 2(a) and
Section 6 through 18 (inclusive) shall survive the term during which any Service hereunder is required to be performed. 

18.    Counterparts.    This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate
counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. 

[Remainder
of this page intentionally left blank] 

7

   
        IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date first written above. 

	 	 	CENTERPULSE LTD.
	

 	
 	

By:	
 	

 
	 	 	 	 	/s/  CHRISTIAN STAMBACH      
 Name: Christian Stambach

Title: CRO & Chief Legal Counsel
	

 	
 	

By:	
 	

 
	 	 	 	 	/s/  URS KAMBER      
 Name: Urs Kamber

Title: CFO
	

 	
 	
CENTERPULSE USA HOLDING CO.
	

 	
 	

By:	
 	

 
	 	 	 	 	/s/  DAVID S. WISE      
 Name: David S. Wise

Title: Secretary
	

 	
 	
SULZER CARBOMEDICS INC.
	

 	
 	

By:	
 	

 
	 	 	 	 	/s/  CHARLES GRIFFIN      
 Name: Charles Griffin

Title: President
	

 	
 	
SNIA S.p.A.
	

 	
 	

By:	
 	

 
	 	 	 	 	/s/  CARLO VANOLI      
 Name: Carlo Vanoli

Title: COO

8

 
 

EXHIBIT A:  SERVICES    
  

	PROVIDER
 
	 	RECIPIENT
	 	SERVICES
	 	TERM

	CMI	 	Centerpulse USA	 	Provider shall provide the following services to Recipient at 1300 East Anderson Lane, Austin, Texas:

•  office space and equipment;

•  purchasing services;

•  human resources services; and

•  information technology services (including, without limitation, the services currently being provided by David Reeves).	 	Provider shall provide Recipient the services for a period of up to six (6) months after the date of this Agreement.

Recipient may terminate services at any time effective immediately upon notice to Provider by Recipient.
	

Centerpulse

USA	
 	

CMI and, where

relevant, MEC

and/or MIT	
 	

Provider shall provide Recipient the following services:

•  Payroll processing services:

        •  Provider shall calculate and enter data for bi-weekly pay, bonuses and commissions based on information submitted by Recipient to Provider;

        •  Provider shall receive from Recipient, validate and coordinate the transfer of payroll data to ADP;

        •  Subsequent to paycheck generation, Recipient shall validate all human resources data;

        •  Provider shall coordinate the receipt and validation of paychecks from ADP and make available the paychecks for pick-up and distribution by Recipient;

        •  Provider shall coordinate the wire transfer of funds for Recipient for payroll and all associated taxes and wage garnishments;

        •  Provider shall verify quarterly payroll reports;

        •  Provider shall coordinate the exercise, taxation and reporting of MSOP stock options;	
 	

Provider shall provide Recipient the services for a period of up to six (6) months after the date of this Agreement.

Recipient may terminate services at any time effective upon ten (10) days advance notice to Provider by Recipient.

Provider may terminate services immediately and without notice in the event that Provider does not receive the fees (as described on Exhibit B) within nine (9) business days before a payroll
disbursement date. Payroll disbursement dates are set forth on Exhibit D.

	 	 	 	 	•  Provider shall provide Recipient with access to Provider's HRS database to run reports solely related to Recipient's employees;

•  Allocations of amounts in respect of the following (note: all amounts paid to or on behalf of covered persons in respect of dates or periods from and after the Closing Date shall be paid by Recipient and Recipient shall have no
obligation to pay any amounts in respect of any dates or periods prior to the Closing Date. For avoidance of doubt, Recipient shall not be responsible for any payment in respect of medical, dental or other services that were provided to a covered
person prior to the Closing Date, irrespective of the date on which a claim for such service was filed by or on behalf of such covered person. Any payment made to or on behalf of a covered person in respect of any period or date prior to the Closing
Date shall be paid solely by Provider at Provider's sole expense):

        •  all payroll and payroll related state and federal taxes;

        •  401(k); Medical; Dental; Vision; LTD; STD; Life; Dependant Life; ADD; Exec. Supplemental Pension; Exec. Supplemental Disability; United Behavioral (EAP); Cobra for post-Closing
terminations.	 	 

 
 

EXHIBIT A:  SERVICES (cont.)    
  

	PROVIDER
 
	 	RECIPIENT
	 	SERVICES
	 	TERM

	MEC	 	Sulzer Orthopedics

Canada	 	Provider shall provide the following services to Recipient:

•  Customer services:

        •  orders,

        •  return and loaner processing,

        •  inventory control and management,

        •  customer inquires;

•  Warehousing:

        •  shipping and receiving,

        •  supplies,

        •  rush orders;

•  Use of facility and other support:

        •  utilities,

        •  property tax,

        •  cleaning,

        •  repair,

        •  photocopy,

        •  fax and printers;

•  Human resources:

        •  payroll submission,

        •  pension management,

        •  benefit management;

•  Finance:

        •  month end and year end reporting,

        •  tax preparation and filing,

        •  transfer price documentation,

        •  budgets and forecasting,

        •  check processing,

        •  accounts receivable and accounts payable management,

        •  invoicing,

        •  weekly and monthly FDC reporting;

•  IT support:

        •  computer help desk,

        •  inventory management program and license fees,

        •  computer management.	 	Provider shall provide Recipient the services for a period of up to twelve (12) months after the date of this Agreement.

Recipient may terminate services at any time effectively immediately upon notice to Provider by Recipient.

 
 

EXHIBIT B:  FEES    
  

	PROVIDER
 
	 	RECIPIENT
	 	FEES

	CMI	 	Centerpulse USA	 	In consideration for the services provided by Provider to Recipient, Recipient shall pay Provider an amount equal to $14,000 per month for each four (4) week month and $16,000 per month for each five (5) week
month. Such fee shall be paid on the first (1st) day of each month. Note: such fee includes $4,200 of non-cash costs.
	

 	
 	

 	
 	

In addition, in consideration for the services provided by David Reeves (or his successor) (for the Provider) to the Recipient, Recipient shall pay Provider an amount equal to $70,000 per year in monthly installments of $5,800.
	

Centerpulse

USA	
 	

CMI	
 	

In consideration for the services provided by Provider to Recipient, Recipient shall pay Provider as follows: On the date of this Agreement, SNIA, on behalf of Recipient, shall deposit to Provider's bank account an amount equal to $1,458,863 (equal
to the gross payroll plus one and a half months anticipated medical benefit expense) in immediately available funds pursuant to the wire transfer instructions set forth below (the "Bank Account"). Such
fee shall cover the estimated expenses set forth on Exhibit C. Thereafter, within nine (9) business days before each payroll disbursement date, according to the schedule of payroll
disbursements attached hereto as Exhibit D, Recipient shall deposit into the Bank Account an amount equal to the gross payroll total from the previous payroll period (including Recipient's portion
of FUI, SUI, FICA and Medicare) plus the gross employer 401(k) liability from the previous payroll period. Provider shall provide such aggregate amount to Recipient in the form of Exhibit C as soon
as practicable after the applicable previous payroll period. For example, if the payroll disbursement date is January 31, 2003, Recipient must deposit the fee into the Bank Account no later than January 21, 2003.
	

 	
 	

 	
 	

Provider shall reconcile benefits payments on a monthly basis as follows: Each month Provider shall calculate claims processed against the benefit plans set forth on Exhibit C (including claims
processed both during and after the six (6) month period during which Provider will provide payroll and benefits services) and Recipient will reimburse Provider through withdrawals from the Bank Account for such claims as of the date the claims
are processed. Such reimbursement shall be in addition to the gross payroll reimbursements described above.
	

 	
 	

 	
 	

Upon termination of the payroll and benefit services, on the twentieth (20th) day of the month following the month in which the payroll and benefit services are terminated, Provider shall refund to Recipient any funds deposited in the bank account
which are in excess of Provider's actual expenses.
	

 	
 	

 	
 	

Recipient shall also pay a monthly administration fee in the amount of $28,250 and shall reimburse Provider for all allocable third party expenses incurred, as determined by Provider.
	

 	
 	

 	
 	

All fees shall be paid in immediately available funds via wire transfer to the Bank Account.
	

MEC	
 	

Sulzer Orthopedics

Canada	
 	

In consideration for the services provided by Provider to Recipient, Recipient shall pay Provider an amount equal to 243,541 Canadian Dollars. Such fee shall be paid on the date of this Agreement.

BANK ACCOUNT:    Centerpulse USA Wire Transfer Instructions  

	Bank:	 	JPMorgan Chase, Houston, Texas
	ABA #	 	113000609
	Swift #	 	TCBKUS44
	Account #	 	00113321344
	Beneficiary:	 	Centerpulse USA Inc.—Payroll

 
 

EXHIBIT C:  ESTIMATED EXPENSES (as of the date of this Agreement)    
  

        01/15/2003 11:07 

	 
	 	Cost of CarryingCMI/Mitroflow/MEC
 (preliminary)
	 	CMI US

	 
	 	 
	 	Monthly
	 	Bi-Weekly
	 	 

	1	 	Actual Payroll	 	 	 	 	 	 	 	 	$	827,037.00	 	gross
	2	 	Actual Taxes	 	 	 	SS match	 	 	 	 	$	49,333.00	 	 
	3	 	 	 	 	 	Medicare match	 	 	 	 	$	11,537.00	 	 
	4	 	 	 	 	 	FUTA	 	 	 	 	$	4,896.00	 	 
	5	 	 	 	 	 	SUI	 	 	 	 	$	14,110.00	 	 
	6	 	ADP service fees	 	 	 	 	 	$	2,513.61	 	$	1,160.13	 	 
	7	 	401K Match (estimated)	 	Company Costs	 	 	 	 	 	 	$	65,000.00	 	 
	8 Self Insured	 	Medical—actual claims	 	2002 avg thru Oct	 	 	 	$	220,279.00	 	$	101,667.23	 	 
	9 Co Pd Mo. Premium	 	Medical—admin svcs fee	 	$53.57 * 351	 	 	 	$	18,803.07	 	$	8,678.34	 	 
	10 Co Pd Mo. Premium	 	Dental	 	 	 	 	 	$	14,806.04	 	$	6,833.56	 	 
	11 Co Pd Mo. Premium	 	LTD	 	 	 	 	 	$	3,564.00	 	$	1,644.92	 	 
	12 Co Pd Mo. Premium	 	STD	 	 	 	 	 	$	582.00	 	$	268.62	 	 
	13 Co Pd Mo. Premium	 	Life	 	 	 	 	 	$	3,899.34	 	$	1,799.70	 	 
	14 Co Pd Mo. Premium	 	Dependent Life	 	 	 	 	 	$	136.62	 	$	63.06	 	 
	15 Co Pd Mo. Premium	 	ADD	 	 	 	 	 	$	1,080.00	 	$	498.46	 	 
	16 Co Pd Mo. Premium	 	Exec.Supplemental Pension	 	 	 	$	213.02	 	$	98.32	 	 
	17 Co Pd Mo. Premium	 	Exec. Supplemental Disability	 	 	 	$	983.42	 	$	453.89	 	 
	18 Co Pd Mo. Premium	 	United Behavioral (EAP)	 	 	 	$	776.00	 	$	358.15	 	 
	19 Co Pd Mo. Premium	 	Cobra Costs	 	 	 	 	 	$	200.00	 	$	92.31	 	 
	 	 	Total	 	 	 	 	 	 	 	 	$	1,095,529.67	 	 
	

20 Co Pd Mo. Premium	
 	

Canada Supplemental Benefits	
 	

 	
 	
$	

33,333.00	
 	
 	

 	
 	

 
	

 	
 	

 	
 	

 	
 	
Administrative Fee Calculation	
 	

 
	 	 	*CMI/MIT/MED headcount	 	 	 	 	548	 	 	 	 	 
	 	 	Total CEP headcount	 	 	 	 	1791	 	 	 	 	 
	 	 	% CMI to CEP total	 	 	 	 	31	%	 	 	 	 
	 	 	2003 Payroll/Benefits Budget	 	 	 	$	1,200,000	 	 	 	 	 
	

 	
 	

CMI allocated costs-annual	
 	

 	
 	
$	

367,169.18	
 	
 	

 	
 	

 
	 	 	CMI allocated costs/payperiod	 	 	 	 	 	 	$	14,121.89	 	 

 
 

EXHIBIT D:  SCHEDULE OF PAYROLL DISBURSEMENTS    
  

	 
	 	Date of Funding
	 	 
	 	Date of Payroll
	 	 

	 	 	01/21/2003	 	 	 	01/31/2003	 	 
	 	 	02/04/2003	 	 	 	02/14/2003	 	 
	 	 	02/18/2003	 	 	 	02/28/2003	 	 
	 	 	03/04/2003	 	 	 	03/14/2003	 	 
	 	 	03/18/2003	 	 	 	03/28/2003	 	 
	 	 	04/01/2003	 	 	 	04/11/2003	 	 
	 	 	04/15/2003	 	 	 	04/25/2003	 	 
	 	 	04/29/2003	 	 	 	05/09/2003	 	 
	 	 	05/13/2003	 	 	 	05/23/2003	 	 
	 	 	05/27/2003	 	 	 	06/06/2003	 	 
	 	 	06/10/2003	 	 	 	06/20/2003	 	 
	 	 	*06/23/2003	 	 	 	*07/03/2003	 	 
	 	 	07/08/2003	 	 	 	07/18/2003	 	 

*National Holiday is July 4, date of funding and payroll moved back one day  

QuickLinks

Exhibit 4.29

TRANSITION SERVICES AGREEMENT

BACKGROUND

AGREEMENT

EXHIBIT A: SERVICES

EXHIBIT A: SERVICES (cont.)

EXHIBIT B: FEES

EXHIBIT C: ESTIMATED EXPENSES (as of the date of this Agreement)

EXHIBIT D: SCHEDULE OF PAYROLL DISBURSEMENTS

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