Document:

Form of Performance Stock Unit Award Agreement

Exhibit 10.4

DUPONT FABROS TECHNOLOGY, INC.
Stock Unit Award Agreement
Issued Under the 2015 Long-Term Incentive Compensation Plan
THIS STOCK UNIT AWARD AGREEMENT (the “Agreement”), effective as of the 16th day of March, 2015 (the “Grant Date”), governs an award granted by DUPONT FABROS TECHNOLOGY, INC., a Maryland corporation (the “Company”), of stock units for shares of the common stock of the Company, par value, $0.001 per share (“Common Stock”), to __________________________ (the “Participant”), in accordance with and subject to the provisions of the Company’s 2011 Equity Incentive Plan (the “Plan”).  A copy of the Plan has been made available to the Participant.  Capitalized terms used, but not defined, in this Agreement shall have the meaning given such terms in the Plan.
1.    Grant of Awards.  In accordance with the Plan, and effective as of the Grant Date, the Company hereby grants to the Participant, subject to the terms and conditions of the Plan and this Agreement, an award of _______________ (______) stock units (the “Stock Unit Award,” with the number set forth in this sentence being the “Target Award”).
2.    Vesting.  The Participant’s interest in the stock units covered by the Stock Unit Award shall become vested as provided in this Section.
(a)    Company Total Shareholder Return Compared to RMS Return. One-half of the Participant’s interest in the stock units covered by the Stock Unit Award (the “RMS Return Target Award”) shall become vested as provided in the schedule below, if (a) the Participant remains in continuous Service from the Grant Date until March 1, 2018, and (b) the Company’s Total Shareholder Return for the Performance Period, meets or exceeds the RMS Return for the Performance Period.  The specific number of stock units that may vest with respect to the RMS Return Target Award shall be determined in accordance with the following:
	
			
	Performance Level
	Performance Requirements
	Number of Stock Units that Vest

	Below Target
	Total Shareholder Return is below the RMS Return
	None

	Target
	Total Shareholder Return equals the RMS Return
	100% of RMS Return Target Award

	Maximum
	Total Shareholder Return is 300 basis points or more greater than the RMS Return
	300% of the RMS Return Target Award

In the event that the Performance Level is between the “Target” and “Maximum” levels (as set forth in the table above), the number of stock units that will vest with respect to the RMS Return Target Award will be interpolated on a straight line basis, between 100% and 300% of the RMS Return Target Award.  If at the end of the Performance Period, none of the stock units covered by the Stock Unit Award related to RMS Return Target Award have vested in accordance with the criteria set forth above, the portion of the Stock Unit Award related to RMS Return Target Award will immediately lapse in its entirety.  Except as provided in this Agreement, any stock units covered by the portion of the Stock Unit Award related to RMS Return Target Award that are 

not vested and nonforfeitable on or before the date of the Participant’s termination of Service shall be forfeited on the date that such Service terminates.  
Notwithstanding anything in this Agreement to the contrary, if the Total Shareholder Return for the Performance Period is negative, the calculated payouts will be reduced by 50%.  By way of example, if the Total Shareholder Return for the Performance Period was negative 5.0%, while the RMS Return for the Performance Period was negative 8.0%, then the Participant will vest in a number of stock units equal to 150% of the RMS Return Target Award.
(b)    Company Total Shareholder Return Compared to Data Center Index Return. One-half of the Participant’s interest in the stock units covered by the Stock Unit Award (the “Data Center Index Return Target Award”) shall become vested as provided in the schedule below, if (a) the Participant remains in continuous Service from the Grant Date until March 1, 2018, and (b) the Company’s Total Shareholder Return for the Performance Period, meets or exceeds the Data Center Index Return for the Performance Period.  The specific number of stock units that may vest with respect to the Data Center Index Return Target Award shall be determined in accordance with the following:
	
			
	Performance Level
	Performance Requirements
	Number of Stock Units that Vest

	Below Target
	Total Shareholder Return is below the Data Center Index Return
	None

	Target
	Total Shareholder Return equals the Data Center Index Return
	100% of Data Center Index Return Target Award

	Maximum
	Total Shareholder Return is 300 basis points or more greater than the Data Center Index Return
	300% of the Data Center Index Return Target Award

In the event that the Performance Level is between the “Target” and “Maximum” levels (as set forth in the table above), the number of stock units that will vest with respect to the Data Center Index Return Target Award will be interpolated on a straight line basis, between 100% and 300% of the Data Center Index Return Target Award.  If at the end of the Performance Period, none of the stock units covered by the Stock Unit Award related to Data Center Index Return Target Award have vested in accordance with the criteria set forth above, the portion of the Stock Unit Award related to Data Center Index Return Target Award will immediately lapse in its entirety.  Except as provided in this Agreement, any stock units covered by the portion of the Stock Unit Award related to Data Center Index Return Target Award that are not vested and nonforfeitable on or before the date of the Participant’s termination of Service shall be forfeited on the date that such Service terminates.  
Notwithstanding anything in this Agreement to the contrary, if the Total Shareholder Return for the Performance Period is negative, the calculated payouts will be reduced by 50%.  By way of example, if the Total Shareholder Return for the Performance Period was negative 5.0%, while the Data Center Index Return for the Performance Period was negative 8.0%, then the Participant will vest in a number of stock units equal to 150% of the Data Center Index Return Target Award.

(c)    Definitions. For purposes of this Agreement 
(i)“Closing Data Center Index Value” shall mean the average value of the Data Center Index over the twenty consecutive trading days that include and immediately precede the last day of the Performance Period, determined using a weighted average based on the market capitalization of each company that comprises the Data Center Index.
(ii)“Closing RMS Value” shall mean the average value of the MSCI US REIT Index (RMS) over the twenty consecutive trading days that include and immediately precede the last day of the Performance Period.
(iii)“Closing Stock Price” shall mean the average closing price of one share of Common Stock for the twenty consecutive trading days that include and immediately precede the last day of the Performance Period.
(iv)“Data Center Index” shall mean the following companies: CoreSite Realty Corporation, CyrusOne Inc., Digital Realty Trust Inc., Equinix, Inc. and QTS Realty Trust, Inc.; provided, however, that in the event that any of the aforementioned companies that comprise the Data Center Index is acquired, dissolved, liquidated or a party to a business combination in which it is not the surviving entity (or any similar transaction), the composition of the Data Center Index shall be modified by the Committee in good faith.
(v)“Data Center Index Return” shall mean, with respect to a Performance Period, the total percentage return of the Data Center Index, including dividends and other distributions by a company included in the Data Center Index, determined using a weighted average based on the market capitalization of each company that comprises the Data Center Index.
(vi)“Initial Data Center Index Value” shall mean the average value of the Data Center Index over the twenty consecutive trading days immediately preceding the first day of the Performance Period, determined using a weighted average based on the market capitalization of each company that comprises the Data Center Index.
(vii)“Initial RMS Value” shall mean the average value of the MSCI US REIT Index (RMS) over the twenty consecutive trading days immediately preceding the first day of the Performance Period.
(viii)“Initial Stock Price” shall mean the average closing price of one share of Common Stock for the twenty consecutive trading days immediately preceding the first day of the Performance Period.
(ix)“Performance Period” shall mean the three calendar year period commencing on January 1, 2015 and ending on January 1, 2018, provided, however, that (i) in the event of the termination of a Participant’s Service due to death or Disability, the Performance Period shall end on the date of such Participant’s termination of Service, and (ii) in the event of a Change in Control as defined in Section 4, the Performance Period shall end as of the effective date of the Change in Control.
(x)“RMS Return” shall mean the percentage change of the MSCI US REIT Index (RMS) over the Performance Period, which shall be established by comparing the Initial RMS Value to the Closing RMS Value, provided, however, that in the event the MSCI US REIT Index is discontinued or its methodology significantly changed, a comparable index shall be selected by the Committee in good faith.
(xi)“Total Shareholder Return” shall mean, with respect to a Performance Period, the total percentage return per share of Common Stock, assuming contemporaneous reinvestment in the Common Stock of all dividends and other distributions at the closing price of one share of Common Stock on the date such dividend or other distribution was 

paid, based on the Initial Stock Price and the Closing Stock Price for such Performance Period. 
3.    Delivery.  If any portion of the Stock Unit Award vests, the Company will issue the number of shares of Common Stock determined under this Agreement as soon as practicable following the end of the vesting date (the “Delivered Common Stock”), but in no event later than thirty-days following the end of the vesting date (such date of delivery, the “Delivery Date”). 
4.    Effect of Death or Disability.  If the Participant’s Service is terminated due to his death or Disability, the Performance Period shall end on the date of such termination of Service, and the Participant shall vest in the number of stock units, at the “Target” Performance Level, provided that the total number of stock units to which the Participant will be entitled shall be prorated by multiplying the number of stock units to which the Participant would otherwise be entitled by a fraction, the numerator of which is the number of days from January 1, 2015 until the date of the Participant’s termination of Service and the denominator is the number of days from January 1, 2015 to January 1, 2018. 
5.    Effect of Termination without Cause.  If the Participant’s Service is terminated by the Company without Cause, or the Participant terminates his or her Service with Good Reason, and the Participant is a party to an employment or other similar agreement that sets forth the treatment of a performance vesting award upon such a termination of Service, then the treatment of this Stock Unit Award will be as set forth in such employment or other similar agreement.  If the Participant’s Service is terminated by the Company without Cause, or the Participant terminates his or her Service with Good Reason, and the Participant is a party to an employment or other similar agreement that does not set forth the treatment of a performance vesting award upon a termination without Cause or with Good Reason, the treatment of the Participant’s Stock Unit Award will be determined in the same manner as Section 4. For purposes of this section, “Good Reason” shall have the meaning given to such term in the Participant’s employment or other similar agreement.
6.    Effect of Change in Control.  In the event of a Change in Control, the Performance Period shall be terminated as of the Change in Control and the Closing Stock Price shall be deemed to be the price per share of Common Stock received by stockholders in the Change in Control, provided, however, that in the event of a Change in Control in which stockholders do not receive a price per share for their Common Stock, the Closing Stock Price shall be determined in accordance with the procedures set forth in Section 2.  A Participant's interest in the stock units covered by the Stock Unit Award (if not sooner vested) shall become vested and nonforfeitable as of the Change in Control if the Participant remains in continuous Service from the Grant Date until the effective date of the Change in Control, and the number of stock units that comprise the Stock Unit Award that shall vest and become nonforfeitable shall be the greater of: (a) the Target Award; and (b) the calculated value as determined pursuant to Section 2 above for the abbreviated Performance Period.
7.    Transferability.  Stock units covered by the Stock Unit Award that have not become vested and nonforfeitable under this Agreement cannot be transferred.
8.    Stockholder Rights.  The Participant does not have any of the rights of a stockholder with respect to any unvested stock unit, including voting and dividend rights.
9.    Withholding.  The Participant must make acceptable arrangements to pay any withholding or other taxes that may be due as a result of the vesting or receipt of the stock units or the shares of Common Stock.  In the event that the Company or an Affiliate, as applicable, determines that any federal, state, local or foreign tax or withholding payment is required relating to the vesting of stock units or receipt of shares of Common Stock arising from this grant, the Company or an Affiliate, as applicable, shall have the right to require such payments from the Participant, or to withhold such amounts from other payments due to the Participant from the Company or an Affiliate, as applicable.  Unless otherwise 

determined by the Company, the Company shall withhold the delivery of vested shares of Common Stock otherwise deliverable under this Agreement to meet such obligations.  The shares of Stock so withheld shall have an aggregate Fair Market Value equal to such withholding obligations.
10.    No Right to Continued Employment.  The grant of the Stock Unit Award does not give the Participant any right with respect to continuance of Service, nor shall it interfere in any way with the right of the Company or an Affiliate to terminate his Service at any time.
11.    Adjustments.  Notwithstanding anything herein to the contrary, the Committee, in its sole discretion, may make appropriate adjustments to the Target Award and any of the metrics set forth in Section 2 in connection with or as a result of any of the following events which have occurred after the Grant Date: reorganization, recapitalization, reclassification, stock dividend (after taking into consideration any payments to be made pursuant to Section 8), stock split, reverse stock split or other similar changes in the Common Stock, if the outstanding shares of Common Stock are increased or decreased or are exchanged for a different number or kind of shares or other securities of the Company, or additional share of new or different shares or other securities of the Company or other non-cash assets are distributed with respect to such shares of Common Stock or other securities. 
12.    Governing Law.  This Agreement shall be governed by the laws of the State of Maryland.
13.    Conflicts.  In the event of any conflict between the provisions of the Plan as in effect on the Grant Date and this Agreement, the provisions of the Plan shall govern.  All references herein to the Plan shall mean the Plan as in effect on the Grant Date.
14.    Participant Bound by Plan.  The Participant hereby acknowledges that a copy of the Plan has been made available to him and agrees to be bound by all the terms and provisions of the Plan.
15.    Binding Effect.  Subject to the limitations stated above and in the Plan, this Agreement shall be binding upon the Participant and his or her successors in interest and the successors of the Company.
IN WITNESS WHEREOF, the Company and the Participant have executed this Agreement effective as of the date set forth above.
	
			
	DUPONT FABROS TECHNOLOGY, INC.
	 
	[PARTICIPANT]

	By: _______________________________
	 
	___________________________________

	Name: 
Title:EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
  

ZIMMER HOLDINGS, INC. 

$500,000,000 1.450% Notes due 2017 

$1,150,000,000 2.000% Notes due 2018 

$1,500,000,000 2.700% Notes due 2020 

$750,000,000 3.150% Notes due 2022 

$2,000,000,000 3.550% Notes due 2025 

$500,000,000 4.250% Notes due 2035 

$1,250,000,000 4.450% Notes due 2045 

THIRD SUPPLEMENTAL INDENTURE 

Dated as of March 19, 2015 

to 
 Indenture dated as
of November 17, 2009 
 WELLS FARGO BANK, NATIONAL ASSOCIATION 

Trustee 
  

 
  

 CONTENTS 
  

									
	Clause	 	 	    	 	  	Page	 
		
	 ARTICLE I            DEFINITIONS AND INCORPORATION BY
REFERENCE
	  	 	2	  
				
		 	SECTION 1.01.	    	 Application of this Third Supplemental Indenture
	  	 	2	  
				
		 	SECTION 1.02.	    	 Definitions
	  	 	2	  
				
		 	SECTION 1.03.	    	 Incorporation by Reference of Trust Indenture Act
	  	 	6	  
		
	 ARTICLE II          CREATION, FORMS, TERMS AND CONDITIONS OF THE
SECURITIES
	  	 	7	  
				
		 	SECTION 2.01.	    	 Creation of the Notes
	  	 	7	  
				
		 	SECTION 2.02.	    	 Form of the Notes
	  	 	7	  
				
		 	SECTION 2.03.	    	 Terms and Conditions of the 2017 Notes
	  	 	7	  
				
		 	SECTION 2.04.	    	 Terms and Conditions of the 2018 Notes
	  	 	8	  
				
		 	SECTION 2.05.	    	 Terms and Conditions of the 2020 Notes
	  	 	10	  
				
		 	SECTION 2.06.	    	 Terms and Conditions of the 2022 Notes
	  	 	11	  
				
		 	SECTION 2.07.	    	 Terms and Conditions of the 2025 Notes
	  	 	12	  
				
		 	SECTION 2.08.	    	 Terms and Conditions of the 2035 Notes
	  	 	13	  
				
		 	SECTION 2.09.	    	 Terms and Conditions of the 2045 Notes
	  	 	14	  
				
		 	SECTION 2.10.	    	 Ranking
	  	 	15	  
				
		 	SECTION 2.11.	    	 Sinking Fund
	  	 	15	  
		
	ARTICLE III         REDEMPTION	  	 	15	  
				
		 	SECTION 3.01.	    	 Optional Redemption
	  	 	15	  
				
		 	SECTION 3.02.	    	 Special Mandatory Redemption
	  	 	17	  
		
	ARTICLE IV         CHANGE OF CONTROL	  	 	18	  
				
		 	SECTION 4.01.	    	 Repurchase at the Option of Holders Upon a Change of Control Repurchase Event
	  	 	18	  
		
	ARTICLE V          TRANSFER AND EXCHANGE	  	 	19	  
				
		 	SECTION 5.01.	    	 Transfer and Exchange
	  	 	19	  
		
	ARTICLE VI         TRUSTEE	  	 	20	  
				
		 	SECTION 6.01.	    	 Corporate Trust Office
	  	 	20	  
				
		 	SECTION 6.02.	    	 Recitals of Fact
	  	 	20	  
				
		 	SECTION 6.03.	    	 Successor
	  	 	20	  
		
	ARTICLE VII        MISCELLANEOUS PROVISIONS	  	 	21	  
				
		 	SECTION 7.01.	    	 Ratification of Original Indenture
	  	 	21	  
				
		 	SECTION 7.02.	    	 Effect of Headings
	  	 	21	  

  
 i 

 CONTENTS 
  

									
	Clause	 	 	    	 	  	Page	 
				
		 	 SECTION 7.03.
	    	 Successors and Assigns
	  	 	21	  
				
		 	 SECTION 7.04.
	    	 Separability Clause
	  	 	21	  
				
		 	 SECTION 7.05.
	    	 Governing Law
	  	 	21	  
				
		 	 SECTION 7.06.
	    	 Counterparts
	  	 	21	  

  
 ii 

 CONTENTS 
  

 EXHIBITS 
  

			
	EXHIBIT A		Form of Global 2017 Note
	EXHIBIT B		Form of Global 2018 Note
	EXHIBIT C		Form of Global 2020 Note
	EXHIBIT D		Form of Global 2022 Note
	EXHIBIT E		Form of Global 2025 Note
	EXHIBIT F		Form of Global 2035 Note
	EXHIBIT G		Form of Global 2045 Note

  
 iii 

 THIRD SUPPLEMENTAL INDENTURE, dated as of March 19, 2015 (this “Third
Supplemental Indenture”), between ZIMMER HOLDINGS, INC., a corporation duly organized and existing under the laws of the State of Delaware (herein called the “Company” or the “Issuer”), having its principal offices at 345
East Main Street, Warsaw, Indiana, and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”). 

RECITALS 
 WHEREAS,
the Issuer executed and delivered to the Trustee an Indenture, dated as of November 17, 2009 (the “Original Indenture”), providing for the issuance by the Issuer from time to time of debt securities evidencing unsecured and
unsubordinated indebtedness of the Issuer to be issued in one or more series; 
 WHEREAS, the Original Indenture provides, among
other things, that by means of a supplemental indenture, the Issuer and the Trustee may, without the consent of Holders, create one or more series of the Issuer’s debt securities and establish the form and terms and conditions thereof; 

WHEREAS, the Issuer intends by this Third Supplemental Indenture to create and provide for the issuance of new series of debt
securities to be designated as the “1.450% Notes due 2017” (the “2017 Notes”), the “2.000% Notes due 2018” (the “2018 Notes”), the “2.700% Notes due 2020” (the “2020 Notes”), the
“3.150% Notes due 2022” (the “2022 Notes”), the 3.550% Notes due 2025” (the “2025 Notes”), the 4.250% Notes due 2035 (the “2035 Notes”) and the “4.450% Notes due 2045” (the “2045
Notes” and, together with the 2017 Notes, the 2018 Notes, the 2020 Notes, the 2022 Notes, the 2025 Notes and the 2035 Notes, the “Notes”); 

WHEREAS, the Board of Directors of the Issuer has authorized the execution and delivery of the Third Supplemental Indenture, the
issuance of the Notes and the forms, terms and conditions of the Notes pursuant to Sections 201, 301 and 901 of the Original Indenture; and 

WHEREAS, all acts and things necessary to make the Notes, when the Notes have been executed by the Issuer, authenticated by the
Trustee, issued upon the terms and subject to the conditions set forth hereinafter and in the Original Indenture and delivered as provided in the Indenture against payment therefor, valid, binding and legal obligations of the Issuer according to
their terms, and all actions required to be taken by the Issuer under the Original Indenture to make this Third Supplemental Indenture a valid, binding and legal agreement of the Issuer, have been done; 

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the sufficiency and adequacy of which
are hereby acknowledged, the parties hereto hereby agree as follows: 

 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 

SECTION 1.01. Application of this Third Supplemental Indenture. Notwithstanding any other provision of this Third Supplemental
Indenture, the provisions of this Third Supplemental Indenture, including the covenants set forth herein, are expressly and solely for the benefit of the Notes. The Notes constitute seven separate series of notes as provided in Section 301 of
the Original Indenture. 
 SECTION 1.02. Definitions. Capitalized terms used in this Third Supplemental Indenture and not otherwise
defined herein shall have the meanings ascribed to them in the Original Indenture. In addition, the following terms shall have the following meanings to be equally applicable to both the singular and the plural forms of the terms defined: 

“2017 Interest Payment Date” has the meaning set forth in Section 2.03(c). 

“2018 Interest Payment Date” has the meaning set forth in Section 2.04(c). 

“2020 Interest Payment Date” has the meaning set forth in Section 2.05(c). 

“2022 Interest Payment Date” has the meaning set forth in Section 2.06(c). 

“2025 Interest Payment Date” has the meaning set forth in Section 2.07(c). 

“2035 Interest Payment Date” has the meaning set forth in Section 2.08(c). 

“2045 Interest Payment Date” has the meaning set forth in Section 2.09(c). 

“2017 Maturity Date” has the meaning set forth in Section 2.03(b). 

“2018 Maturity Date” has the meaning set forth in Section 2.04(b). 

“2020 Maturity Date” has the meaning set forth in Section 2.05(b). 

“2022 Maturity Date” has the meaning set forth in Section 2.06(b). 

“2025 Maturity Date” has the meaning set forth in Section 2.07(b). 

“2035 Maturity Date” has the meaning set forth in Section 2.08(b). 

“2045 Maturity Date” has the meaning set forth in Section 2.09(b). 

“2017 Notes” has the meaning set forth in the Recitals hereto. 

“2018 Notes” has the meaning set forth in the Recitals hereto. 

“2020 Notes” has the meaning set forth in the Recitals hereto. 

  
 2 

 “2022 Notes” has the meaning set forth in the Recitals hereto. 

“2025 Notes” has the meaning set forth in the Recitals hereto. 

“2035 Notes” has the meaning set forth in the Recitals hereto. 

“2045 Notes” has the meaning set forth in the Recitals hereto. 

“2017 Regular Record Date” has the meaning set forth in Section 2.03(c). 

“2018 Regular Record Date” has the meaning set forth in Section 2.04(c). 

“2020 Regular Record Date” has the meaning set forth in Section 2.05(c). 

“2022 Regular Record Date” has the meaning set forth in Section 2.06(c). 

“2025 Regular Record Date” has the meaning set forth in Section 2.07(c). 

“2035 Regular Record Date” has the meaning set forth in Section 2.08(c). 

“2045 Regular Record Date” has the meaning set forth in Section 2.09(c). 

“Below Investment Grade Rating Event” means the Notes are rated below Investment Grade by each of the Rating Agencies on any
date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of a Change of Control (which period shall be extended so long as the
rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in
rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of the definition of Change of Control Repurchase Event hereunder) if the
Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Issuer that the reduction was the result, in whole or in part, of any event or circumstance comprised of
or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event). 

“Business Day” means any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which the Trustee
or banking institutions in The City of New York are authorized or required by law or regulation to close. 
 “Change of
Control” means the occurrence of any of the following: 
 (1) the direct or indirect sale, transfer, conveyance or
other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its subsidiaries taken as a whole to any “person” (as
that term is used in Section 13(d)(3) of the Exchange Act), other than the Issuer or one of its subsidiaries; 

  
 3 

 (2) the adoption of a plan relating to the Issuer’s liquidation or
dissolution; 
 (3) the first day on which a majority of the members of the Issuer’s Board of Directors are not
Continuing Directors; or 
 (4) the consummation of any transaction or series of related transactions (including, without
limitation, any merger or consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act), other than the Issuer or one or more of its wholly-owned subsidiaries becomes the
beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Issuer’s Voting Stock. 

“Change of Control Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating
Event. 
 “Company” has the meaning set forth in the Recitals hereto. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term of the series of Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to
the remaining term of such Notes. 
 “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the
average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, (2) if the Issuer can only obtain less than four such Reference Treasury Dealer
Quotations, the average of all such quotations or (3) if the Issuer can only obtain one Reference Treasury Dealer Quotation, such quotation. 

“Continuing Directors” means, as of any date of determination, any member of the Issuer’s Board of Directors who
(1) was a member of such Board of Directors on the date of the issuance of the Notes; or (2) was nominated for election or elected to such Board of Directors with the approval of a majority of the Continuing Directors who were members of
such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Issuer’s proxy statement in which such member was named as a nominee for election as a director). 

“Corporate Trust Office” shall be the office of the Trustee at which the Indenture shall be principally administered, which
at the date of this Third Supplemental Indenture is 150 East 42nd Street, 40th Floor, New York, New York 10017, Attn: Corporate, Municipal and Escrow Services, or such other address as to which the Trustee may give notice to the Company. 

“Dollar” and “$” means the lawful currency of the United States of America. 

“DTC” means The Depository Trust Company, its nominees and their successors and assigns. 

  
 4 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time
to time. 
 “Global Note” means a single permanent fully-registered global note in book-entry form, without coupons,
substantially in the form of Exhibit A, Exhibit B, Exhibit C, Exhibit D, Exhibit E, Exhibit F and Exhibit G attached hereto. 

“Indenture” means the Original Indenture as supplemented by this Third Supplemental Indenture. 

“Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories
of Moody’s) and a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P) or the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the
Issuer. 
 “Issuer” has the meaning set forth in the Recitals hereto. 

“LVB Merger” means the merger of Owl Merger Sub, Inc. (“Owl Merger Sub”) with and into LVB Acquisition, Inc.
(“LVB”) whereby LVB will continue as the surviving corporation, and LVB and Biomet, Inc. (“Biomet”) will become the Company’s indirect wholly-owned subsidiaries, pursuant to the Merger Agreement. 

“Merger Agreement” means the merger agreement, dated as of April 24, 2014, by and among the Company, its subsidiary, Owl
Merger Sub, and LVB, the parent of Biomet. 
 “Moody’s” means Moody’s Investors Service Inc. 

“Notes” has the meaning set forth in the Recitals hereto. 

“Original Indenture” has the meaning set forth in the Recitals hereto. 

“Outside Date” has the meaning set forth in Section 3.02(a). 

“Quotation Agent” means the Reference Treasury Dealer appointed by the Issuer, 

“Rating Agency” means (1) each of Moody’s and S&P; and (2) if any of Moody’s or S&P ceases to
rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the
Exchange Act, selected by the Issuer as a replacement agency for Moody’s or S&P, as the case may be. 
 “Redemption
Date” means the Business Day on which Notes are redeemed by the Issuer pursuant to Section 3.01 hereof. 
 “Reference
Treasury Dealer” means (1) each of Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC or Merrill Lynch, Pierce, Fenner & Smith Incorporated (or their respective affiliates that are
Primary Treasury Dealers) and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary 

  
 5 

 
U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer will substitute therefor another Primary Treasury Dealer, and (2) another Primary
Treasury Dealer selected by the Issuer. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any Redemption Date, the average, as determined by the Issuer, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Issuer by such
Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
 “Registered
Securities” means any Securities which are registered in the Security Register. 
 “S&P” means
Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. 
 “Special Redemption
Date” has the meaning set forth in Section 3.02(a). 
 “Treasury Rate” means, with respect to any Redemption Date,
the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price
for such Redemption Date. 
 “Trustee” has the meaning set forth in the Recitals hereto. 

“Voting Stock” means, with respect to any Person, capital stock of any class or kind the holders of which are ordinarily, in
the absence of contingencies, entitled to vote for the election of directors (or Persons performing similar functions) of such Person, even if the right so to vote has been suspended by the happening of such a contingency. 

SECTION 1.03. Incorporation by Reference of Trust Indenture Act. The Indenture is subject to the mandatory provisions of the Trust
Indenture Act, which are incorporated by reference in and made a part of the Indenture. The following Trust Indenture Act terms have the following meanings: 

“indenture securities” means the Notes. 

“indenture security holder” means a Holder. 

“indenture to be qualified” means this Third Supplemental Indenture. 

“indenture trustee” or “institutional trustee” means the Trustee. 

“obligor” on the indenture securities means the Issuer and any other obligor on the indenture securities. 

All other Trust Indenture Act terms used in this Indenture that are defined by the Trust Indenture Act, defined by Trust Indenture Act
reference to another statute or defined by Securities and Exchange Commission rule have the meanings assigned to them by such definitions. 

  
 6 

 ARTICLE II 

CREATION, FORMS, 
 TERMS
AND CONDITIONS OF THE SECURITIES 
 SECTION 2.01. Creation of the Notes. In accordance with Section 301 of the Original
Indenture, the Issuer hereby creates each of the 2017 Notes, the 2018 Notes, the 2020 Notes, the 2022 Notes, the 2025 Notes, the 2035 Notes and the 2045 Notes as a separate series of its securities issued pursuant to the Indenture. The 2017 Notes
shall be issued initially in an aggregate principal amount of $500,000,000, the 2018 Notes shall be issued initially in an aggregate principal amount of $1,150,000,000, the 2020 Notes shall be issued initially in an aggregate principal amount of
$1,500,000,000, the 2022 Notes shall be issued initially in an aggregate principal amount of $750,000,000, the 2025 Notes shall be issued initially in an aggregate principal amount of $2,000,000,000, the 2035 Notes shall be issued initially in an
aggregate principal amount of $500,000,000 and the 2045 Notes shall be issued initially in an aggregate principal amount of $1,250,000,000, except as permitted by Sections 304, 305 or 306 of the Original Indenture. 

SECTION 2.02. Form of the Notes. The Notes shall each be issued in the form of a Global Note, duly executed by the Issuer and
authenticated by the Trustee, which shall be deposited with the Trustee as custodian for DTC and registered in the name of “Cede & Co.,” as the nominee of DTC. The 2017 Notes shall be substantially in the form of Exhibit A
attached hereto, the 2018 Notes shall be substantially in the form of Exhibit B attached hereto, the 2020 Notes shall be substantially in the form of Exhibit C attached hereto, the 2022 Notes shall be substantially in the form of Exhibit D attached
hereto, the 2025 Notes shall be substantially in the form of Exhibit E attached hereto, the 2035 Notes shall be substantially in the form of Exhibit F attached hereto and the 2045 Notes shall be substantially in the form of Exhibit G attached
hereto. So long as DTC, or its nominee, is the registered owner of a Global Note, DTC or its nominee, as the case may be, shall be considered the sole owner or Holder of the Notes represented by such Global Note for all purposes under the Indenture.
Ownership of beneficial interests in such Global Note shall be shown on, and transfers thereof will be effected only through, records maintained by DTC (with respect to beneficial interests of participants) or by participants or Persons that hold
interests through participants (with respect to beneficial interests of beneficial owners). 
 SECTION 2.03. Terms and Conditions of the
2017 Notes. The 2017 Notes shall be governed by all the terms and conditions of the Original Indenture, as supplemented by this Third Supplemental Indenture. In particular, the following provisions shall be terms of the 2017 Notes: 

(a) Title and Aggregate Principal Amount. The title of the 2017 Notes shall be as specified in the Recitals; and the aggregate
principal amount of the 2017 Notes shall be as specified in Section 2.01 of this Article II, except as permitted by Sections 304, 305 or 306 of the Original Indenture. 

  
 7 

 (b) Stated Maturity. The 2017 Notes shall mature, and the unpaid principal thereon shall
be payable, on April 1, 2017 (the “2017 Maturity Date”), subject to the provisions of the Original Indenture and Articles III and IV below. 

(c) Interest. The rate per annum at which interest shall be payable on the 2017 Notes shall be 1.450%. Interest on the 2017 Notes shall
be payable semi-annually in arrears on each April 1 and October 1, commencing on October 1, 2015 (each, a “2017 Interest Payment Date”), to the Persons in whose names the applicable 2017 Notes are registered in the Security
Register applicable to the 2017 Notes at the close of business on the immediately preceding March 15 or September 15, respectively, prior to the applicable 2017 Interest Payment Date regardless of whether such day is a Business Day (each,
a “2017 Regular Record Date”). Interest on the 2017 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Interest on the 2017 Notes shall accrue from and including March 19, 2015. If a 2017
Interest Payment Date or the 2017 Maturity Date falls on a day that is not a Business Day, the payment will be made on the next Business Day as if it were made on the date the payment was due, and no interest will accrue on the amount so payable for
the period from and after that 2017 Interest Payment Date or the 2017 Maturity Date, as the case may be, to the date the payment is made. Interest payments will include accrued interest from and including the date of issue or from and including the
last date in respect to which interest has been paid, as the case may be, to, but excluding, the 2017 Interest Payment Date or the 2017 Maturity Date, as the case may be. 

(d) Registration and Form. The 2017 Notes shall be issuable as Registered Securities as provided in Section 2.02 of this Article
II. The 2017 Notes shall be issued and may be transferred only in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. All payments of principal, redemption price and accrued unpaid interest in respect of the 2017
Notes shall be made by the Issuer in immediately available funds. 
 (e) Defeasance and Covenant Defeasance. The provisions for
defeasance in Section 1302 of the Original Indenture, and the provisions for covenant defeasance in Section 1303 of the Original Indenture, shall be applicable to the 2017 Notes. 

(f) Further Issues. Notwithstanding anything to the contrary contained herein or in the Original Indenture, the Issuer may, from time
to time, without the consent of or notice to the Holders, create and issue further securities having the same ranking and terms and conditions as the 2017 Notes in all respects, except for issue date, the public offering price and, in some cases,
the first interest payment date. Additional 2017 Notes issued in this manner shall be consolidated with and shall form a single series with the previously outstanding 2017 Notes. Notice of any such issuance shall be given to the Trustee and a new
supplemental indenture shall be executed in connection with the issuance of such additional 2017 Notes. 
 (g) Other Terms and
Conditions. The 2017 Notes shall have such other terms and conditions as provided in the form thereof attached as Exhibit A. 
 SECTION
2.04. Terms and Conditions of the 2018 Notes. The 2018 Notes shall be governed by all the terms and conditions of the Original Indenture, as supplemented by this Third Supplemental Indenture. In particular, the following provisions shall be
terms of the 2018 Notes: 
 (a) Title and Aggregate Principal Amount. The title of the 2018 Notes shall be as specified in the
Recitals; and the aggregate principal amount of the 2018 Notes shall be as specified in Section 2.01 of this Article II, except as permitted by Sections 304, 305 or 306 of the Original Indenture. 

  
 8 

 (b) Stated Maturity. The 2018 Notes shall mature, and the unpaid principal thereon shall
be payable, on April 1, 2018 (the “2018 Maturity Date”), subject to the provisions of the Original Indenture and Articles III and IV below. 

(c) Interest. The rate per annum at which interest shall be payable on the 2018 Notes shall be 2.000%. Interest on the 2018 Notes shall
be payable semi-annually in arrears on each April 1 and October 1, commencing on October 1, 2015 (each, a “2018 Interest Payment Date”), to the Persons in whose names the applicable 2018 Notes are registered in the Security
Register applicable to the 2018 Notes at the close of business on the immediately preceding March 15 or September 15, respectively, prior to the applicable 2018 Interest Payment Date regardless of whether such day is a Business Day (each,
a “2018 Regular Record Date”). Interest on the 2018 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Interest on the 2018 Notes shall accrue from and including March 19, 2015. If a 2018
Interest Payment Date or the 2018 Maturity Date falls on a day that is not a Business Day, the payment will be made on the next Business Day as if it were made on the date the payment was due, and no interest will accrue on the amount so payable for
the period from and after that 2018 Interest Payment Date or the 2018 Maturity Date, as the case may be, to the date the payment is made. Interest payments will include accrued interest from and including the date of issue or from and including the
last date in respect to which interest has been paid, as the case may be, to, but excluding, the 2018 Interest Payment Date or the 2018 Maturity Date, as the case may be. 

(d) Registration and Form. The 2018 Notes shall be issuable as Registered Securities as provided in Section 2.02 of this Article
II. The 2018 Notes shall be issued and may be transferred only in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. All payments of principal, redemption price and accrued unpaid interest in respect of the 2018
Notes shall be made by the Issuer in immediately available funds. 
 (e) Defeasance and Covenant Defeasance. The provisions for
defeasance in Section 1302 of the Original Indenture, and the provisions for covenant defeasance in Section 1303 of the Original Indenture, shall be applicable to the 2018 Notes. 

(f) Further Issues. Notwithstanding anything to the contrary contained herein or in the Original Indenture, the Issuer may, from time
to time, without the consent of or notice to the Holders, create and issue further securities having the same ranking and terms and conditions as the 2018 Notes in all respects, except for issue date, the public offering price and, in some cases,
the first interest payment date. Additional 2018 Notes issued in this manner shall be consolidated with and shall form a single series with the previously outstanding 2018 Notes. Notice of any such issuance shall be given to the Trustee and a new
supplemental indenture shall be executed in connection with the issuance of such additional 2018 Notes. 
 (g) Other Terms and
Conditions. The 2018 Notes shall have such other terms and conditions as provided in the form thereof attached as Exhibit B. 

  
 9 

 SECTION 2.05. Terms and Conditions of the 2020 Notes. The 2020 Notes shall be governed by
all the terms and conditions of the Original Indenture, as supplemented by this Third Supplemental Indenture. In particular, the following provisions shall be terms of the 2020 Notes: 

(a) Title and Aggregate Principal Amount. The title of the 2020 Notes shall be as specified in the Recitals; and the aggregate
principal amount of the 2020 Notes shall be as specified in Section 2.01 of this Article II, except as permitted by Sections 304, 305 or 306 of the Original Indenture. 

(b) Stated Maturity. The 2020 Notes shall mature, and the unpaid principal thereon shall be payable, on April 1, 2020 (the
“2020 Maturity Date”), subject to the provisions of the Original Indenture and Articles III and IV below. 
 (c) Interest.
The rate per annum at which interest shall be payable on the 2020 Notes shall be 2.700%. Interest on the 2020 Notes shall be payable semi-annually in arrears on each April 1 and October 1, commencing on October 1, 2015 (each, a
“2020 Interest Payment Date”), to the Persons in whose names the applicable 2020 Notes are registered in the Security Register applicable to the 2020 Notes at the close of business on the immediately preceding March 15 or
September 15, respectively, prior to the applicable 2020 Interest Payment Date regardless of whether such day is a Business Day (each, a “2020 Regular Record Date”). Interest on the 2020 Notes shall be computed on the basis of a
360-day year consisting of twelve 30-day months. Interest on the 2020 Notes shall accrue from and including March 19, 2015. If a 2020 Interest Payment Date or the 2020 Maturity Date falls on a day that is not a Business Day, the payment will be
made on the next Business Day as if it were made on the date the payment was due, and no interest will accrue on the amount so payable for the period from and after that 2020 Interest Payment Date or the 2020 Maturity Date, as the case may be, to
the date the payment is made. Interest payments will include accrued interest from and including the date of issue or from and including the last date in respect to which interest has been paid, as the case may be, to, but excluding, the 2020
Interest Payment Date or the 2020 Maturity Date, as the case may be. 
 (d) Registration and Form. The 2020 Notes shall be issuable
as Registered Securities as provided in Section 2.02 of this Article II. The 2020 Notes shall be issued and may be transferred only in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. All payments of
principal, redemption price and accrued unpaid interest in respect of the 2020 Notes shall be made by the Issuer in immediately available funds. 

(e) Defeasance and Covenant Defeasance. The provisions for defeasance in Section 1302 of the Original Indenture, and the
provisions for covenant defeasance in Section 1303 of the Original Indenture, shall be applicable to the 2020 Notes. 
 (f) Further
Issues. Notwithstanding anything to the contrary contained herein or in the Original Indenture, the Issuer may, from time to time, without the consent of or notice to the Holders, create and issue further securities having the same ranking and
terms and conditions as the 2020 Notes in all respects, except for issue date, the public offering price and, in some cases, the first interest payment date. Additional 2020 Notes issued in this manner shall be consolidated with and shall form a
single series with the previously outstanding 2020 Notes. Notice of any such issuance shall be given to the Trustee and a new supplemental indenture shall be executed in connection with the issuance of such additional 2020 Notes. 

(g) Other Terms and Conditions. The 2020 Notes shall have such other terms and conditions as provided in the form thereof attached as
Exhibit C. 

  
 10 

 SECTION 2.06. Terms and Conditions of the 2022 Notes. The 2022 Notes shall be governed by
all the terms and conditions of the Original Indenture, as supplemented by this Third Supplemental Indenture. In particular, the following provisions shall be terms of the 2022 Notes: 

(a) Title and Aggregate Principal Amount. The title of the 2022 Notes shall be as specified in the Recitals; and the aggregate
principal amount of the 2022 Notes shall be as specified in Section 2.01 of this Article II, except as permitted by Sections 304, 305 or 306 of the Original Indenture. 

(b) Stated Maturity. The 2022 Notes shall mature, and the unpaid principal thereon shall be payable, on April 1, 2022 (the
“2022 Maturity Date”), subject to the provisions of the Original Indenture and Articles III and IV below. 
 (c) Interest.
The rate per annum at which interest shall be payable on the 2022 Notes shall be 3.150%. Interest on the 2022 Notes shall be payable semi-annually in arrears on each April 1 and October 1, commencing on October 1, 2015 (each, a
“2022 Interest Payment Date”), to the Persons in whose names the applicable 2022 Notes are registered in the Security Register applicable to the 2022 Notes at the close of business on the immediately preceding March 15 or
September 15, respectively, prior to the applicable 2022 Interest Payment Date regardless of whether such day is a Business Day (each, a “2022 Regular Record Date”). Interest on the 2022 Notes shall be computed on the basis of a
360-day year consisting of twelve 30-day months. Interest on the 2022 Notes shall accrue from and including March 19, 2015. If a 2022 Interest Payment Date or the 2022 Maturity Date falls on a day that is not a Business Day, the payment will be
made on the next Business Day as if it were made on the date the payment was due, and no interest will accrue on the amount so payable for the period from and after that 2022 Interest Payment Date or the 2022 Maturity Date, as the case may be, to
the date the payment is made. Interest payments will include accrued interest from and including the date of issue or from and including the last date in respect to which interest has been paid, as the case may be, to, but excluding, the 2022
Interest Payment Date or the 2022 Maturity Date, as the case may be. 
 (d) Registration and Form. The 2022 Notes shall be issuable
as Registered Securities as provided in Section 2.02 of this Article II. The 2022 Notes shall be issued and may be transferred only in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. All payments of
principal, redemption price and accrued unpaid interest in respect of the 2022 Notes shall be made by the Issuer in immediately available funds. 

(e) Defeasance and Covenant Defeasance. The provisions for defeasance in Section 1302 of the Original Indenture, and the
provisions for covenant defeasance in Section 1303 of the Original Indenture, shall be applicable to the 2022 Notes. 

  
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 (f) Further Issues. Notwithstanding anything to the contrary contained herein or in the
Original Indenture, the Issuer may, from time to time, without the consent of or notice to the Holders, create and issue further securities having the same ranking and terms and conditions as the 2022 Notes in all respects, except for issue date,
the public offering price and, in some cases, the first interest payment date. Additional 2022 Notes issued in this manner shall be consolidated with and shall form a single series with the previously outstanding 2022 Notes. Notice of any such
issuance shall be given to the Trustee and a new supplemental indenture shall be executed in connection with the issuance of such additional 2022 Notes. 

(g) Other Terms and Conditions. The 2022 Notes shall have such other terms and conditions as provided in the form thereof attached as
Exhibit D. 
 SECTION 2.07. Terms and Conditions of the 2025 Notes. The 2025 Notes shall be governed by all the terms and conditions
of the Original Indenture, as supplemented by this Third Supplemental Indenture. In particular, the following provisions shall be terms of the 2025 Notes: 

(a) Title and Aggregate Principal Amount. The title of the 2025 Notes shall be as specified in the Recitals; and the aggregate
principal amount of the 2025 Notes shall be as specified in Section 2.01 of this Article II, except as permitted by Sections 304, 305 or 306 of the Original Indenture. 

(b) Stated Maturity. The 2025 Notes shall mature, and the unpaid principal thereon shall be payable, on April 1, 2025 (the
“2025 Maturity Date”), subject to the provisions of the Original Indenture and Articles III and IV below. 
 (c) Interest.
The rate per annum at which interest shall be payable on the 2025 Notes shall be 3.550%. Interest on the 2025 Notes shall be payable semi-annually in arrears on each April 1 and October 1, commencing on October 1, 2015 (each, a
“2025 Interest Payment Date”), to the Persons in whose names the applicable 2025 Notes are registered in the Security Register applicable to the 2025 Notes at the close of business on the immediately preceding March 15 or
September 15, respectively, prior to the applicable 2025 Interest Payment Date regardless of whether such day is a Business Day (each, a “2025 Regular Record Date”). Interest on the 2025 Notes shall be computed on the basis of a
360-day year consisting of twelve 30-day months. Interest on the 2025 Notes shall accrue from and including March 19, 2015. If a 2025 Interest Payment Date or the 2025 Maturity Date falls on a day that is not a Business Day, the payment will be
made on the next Business Day as if it were made on the date the payment was due, and no interest will accrue on the amount so payable for the period from and after that 2025 Interest Payment Date or the 2025 Maturity Date, as the case may be, to
the date the payment is made. Interest payments will include accrued interest from and including the date of issue or from and including the last date in respect to which interest has been paid, as the case may be, to, but excluding, the 2025
Interest Payment Date or the 2025 Maturity Date, as the case may be. 
 (d) Registration and Form. The 2025 Notes shall be issuable
as Registered Securities as provided in Section 2.02 of this Article II. The 2025 Notes shall be issued and may be transferred only in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. All payments of
principal, redemption price and accrued unpaid interest in respect of the 2025 Notes shall be made by the Issuer in immediately available funds. 

  
 12 

 (e) Defeasance and Covenant Defeasance. The provisions for defeasance in Section 1302
of the Original Indenture, and the provisions for covenant defeasance in Section 1303 of the Original Indenture, shall be applicable to the 2025 Notes. 

(f) Further Issues. Notwithstanding anything to the contrary contained herein or in the Original Indenture, the Issuer may, from time
to time, without the consent of or notice to the Holders, create and issue further securities having the same ranking and terms and conditions as the 2025 Notes in all respects, except for issue date, the public offering price and, in some cases,
the first interest payment date. Additional 2025 Notes issued in this manner shall be consolidated with and shall form a single series with the previously outstanding 2025 Notes. Notice of any such issuance shall be given to the Trustee and a new
supplemental indenture shall be executed in connection with the issuance of such additional 2025 Notes. 
 (g) Other Terms and
Conditions. The 2025 Notes shall have such other terms and conditions as provided in the form thereof attached as Exhibit E. 

SECTION 2.08. Terms and Conditions of the 2035 Notes. The 2035 Notes shall be governed by all the terms and conditions of the Original
Indenture, as supplemented by this Third Supplemental Indenture. In particular, the following provisions shall be terms of the 2035 Notes: 

(a) Title and Aggregate Principal Amount. The title of the 2035 Notes shall be as specified in the Recitals; and the aggregate
principal amount of the 2035 Notes shall be as specified in Section 2.01 of this Article II, except as permitted by Sections 304, 305 or 306 of the Original Indenture. 

(b) Stated Maturity. The 2035 Notes shall mature, and the unpaid principal thereon shall be payable, on August 15, 2035 (the
“2035 Maturity Date”), subject to the provisions of the Original Indenture and Articles III and IV below. 
 (c) Interest.
The rate per annum at which interest shall be payable on the 2035 Notes shall be 4.250%. Interest on the 2035 Notes shall be payable semi-annually in arrears on each February 15 and August 15, commencing on August 15, 2015 (each, a
“2035 Interest Payment Date”), to the Persons in whose names the applicable 2035 Notes are registered in the Security Register applicable to the 2035 Notes at the close of business on the immediately preceding February 1 or
August 1, respectively, prior to the applicable 2035 Interest Payment Date regardless of whether such day is a Business Day (each, a “2035 Regular Record Date”). Interest on the 2035 Notes shall be computed on the basis of a 360-day
year consisting of twelve 30-day months. Interest on the 2035 Notes shall accrue from and including March 19, 2015. If a 2035 Interest Payment Date or the 2035 Maturity Date falls on a day that is not a Business Day, the payment will be made on
the next Business Day as if it were made on the date the payment was due, and no interest will accrue on the amount so payable for the period from and after that 2035 Interest Payment Date or the 2035 Maturity Date, as the case may be, to the date
the payment is made. Interest payments will include accrued interest from and including the date of 

  
 13 

 
issue or from and including the last date in respect to which interest has been paid, as the case may be, to, but excluding, the 2035 Interest Payment Date or the 2035 Maturity Date, as the case
may be. 
 (d) Registration and Form. The 2035 Notes shall be issuable as Registered Securities as provided in Section 2.02 of
this Article II. The 2035 Notes shall be issued and may be transferred only in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. All payments of principal, redemption price and accrued unpaid interest in respect of
the 2035 Notes shall be made by the Issuer in immediately available funds. 
 (e) Defeasance and Covenant Defeasance. The provisions
for defeasance in Section 1302 of the Original Indenture, and the provisions for covenant defeasance in Section 1303 of the Original Indenture, shall be applicable to the 2035 Notes. 

(f) Further Issues. Notwithstanding anything to the contrary contained herein or in the Original Indenture, the Issuer may, from time
to time, without the consent of or notice to the Holders, create and issue further securities having the same ranking and terms and conditions as the 2035 Notes in all respects, except for issue date, the public offering price and, in some cases,
the first interest payment date. Additional 2035 Notes issued in this manner shall be consolidated with and shall form a single series with the previously outstanding 2035 Notes. Notice of any such issuance shall be given to the Trustee and a new
supplemental indenture shall be executed in connection with the issuance of such additional 2035 Notes. 
 (g) Other Terms and
Conditions. The 2035 Notes shall have such other terms and conditions as provided in the form thereof attached as Exhibit F. 
 SECTION
2.09. Terms and Conditions of the 2045 Notes. The 2045 Notes shall be governed by all the terms and conditions of the Original Indenture, as supplemented by this Third Supplemental Indenture. In particular, the following provisions shall be
terms of the 2045 Notes: 
 (a) Title and Aggregate Principal Amount. The title of the 2045 Notes shall be as specified in the
Recitals; and the aggregate principal amount of the 2045 Notes shall be as specified in Section 2.01 of this Article II, except as permitted by Sections 304, 305 or 306 of the Original Indenture. 

(b) Stated Maturity. The 2045 Notes shall mature, and the unpaid principal thereon shall be payable, on August 15, 2045 (the
“2045 Maturity Date”), subject to the provisions of the Original Indenture and Articles III and IV below. 
 (c) Interest.
The rate per annum at which interest shall be payable on the 2045 Notes shall be 4.450%. Interest on the 2045 Notes shall be payable semi-annually in arrears on each February 15 and August 15, commencing on August 15, 2015 (each, a
“2045 Interest Payment Date”), to the Persons in whose names the applicable 2045 Notes are registered in the Security Register applicable to the 2045 Notes at the close of business on the immediately preceding February 1 or
August 1, respectively, prior to the applicable 2045 Interest Payment Date regardless of whether such day is a Business Day (each, a “2045 Regular Record Date”). Interest on the 2045 Notes shall be computed on the basis of a 360-day
year consisting of twelve 

  
 14 

 
30-day months. Interest on the 2045 Notes shall accrue from and including March 19, 2015. If a 2045 Interest Payment Date or the 2045 Maturity Date falls on a day that is not a Business Day,
the payment will be made on the next Business Day as if it were made on the date the payment was due, and no interest will accrue on the amount so payable for the period from and after that 2045 Interest Payment Date or the 2045 Maturity Date, as
the case may be, to the date the payment is made. Interest payments will include accrued interest from and including the date of issue or from and including the last date in respect to which interest has been paid, as the case may be, to, but
excluding, the 2045 Interest Payment Date or the 2045 Maturity Date, as the case may be. 
 (d) Registration and Form. The 2045 Notes
shall be issuable as Registered Securities as provided in Section 2.02 of this Article II. The 2045 Notes shall be issued and may be transferred only in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. All
payments of principal, redemption price and accrued unpaid interest in respect of the 2045 Notes shall be made by the Issuer in immediately available funds. 

(e) Defeasance and Covenant Defeasance. The provisions for defeasance in Section 1302 of the Original Indenture, and the
provisions for covenant defeasance in Section 1303 of the Original Indenture, shall be applicable to the 2045 Notes. 
 (f) Further
Issues. Notwithstanding anything to the contrary contained herein or in the Original Indenture, the Issuer may, from time to time, without the consent of or notice to the Holders, create and issue further securities having the same ranking and
terms and conditions as the 2045 Notes in all respects, except for issue date, the public offering price and, in some cases, the first interest payment date. Additional 2045 Notes issued in this manner shall be consolidated with and shall form a
single series with the previously outstanding 2045 Notes. Notice of any such issuance shall be given to the Trustee and a new supplemental indenture shall be executed in connection with the issuance of such additional 2045 Notes. 

(g) Other Terms and Conditions. The 2045 Notes shall have such other terms and conditions as provided in the form thereof attached as
Exhibit G. 
 SECTION 2.10. Ranking. The Notes shall be general unsecured obligations of the Issuer. The Notes shall rank
pari passu in right of payment with all unsecured and unsubordinated indebtedness of the Issuer and senior in right of payment to all subordinated indebtedness of the Issuer. 

SECTION 2.11. Sinking Fund. The Notes will not be entitled to any sinking fund. 

ARTICLE III 
 REDEMPTION

 SECTION 3.01. Optional Redemption. 

(a) The Notes of any series are redeemable, in whole or in part from time to time, at the option of the Issuer, at any time prior to the 2017
Maturity Date with respect to the 2017 Notes and the 2018 Maturity Date with respect to the 2018 Notes, prior to March 1, 2020 

  
 15 

 
(one month prior to the 2020 Maturity Date), with respect to the 2020 Notes, prior to February 1, 2022 (two months prior to the 2022 Maturity Date), with respect to the 2022 Notes, prior to
January 1, 2025 (three months prior to the 2025 Maturity Date), with respect to the 2025 Notes, prior to February 15, 2035 (six months prior to the 2035 Maturity Date), with respect to the 2035 Notes and prior to February 15, 2045
(six months prior to the 2045 Maturity Date), with respect to the 2045 Notes at a redemption price equal to the greater of: 
 (i) 100% of
the principal amount of the Notes to be redeemed on that Redemption Date; and 
 (ii) the sum of the present values of the remaining
scheduled payments of principal and interest on the Notes being redeemed on that Redemption Date (not including any portion of such payments of interest accrued as of the Redemption Date), discounted to the Redemption Date on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate, plus 12.5 basis points, in the case of the 2017 Notes, plus 15 basis points, in the case of the 2018 Notes, plus 20 basis points, in the case of the 2020 Notes, plus
20 basis points, in the case of the 2022 Notes, plus 25 basis points, in the case of the 2025 Notes, plus 25 basis points, in the case of the 2035 Notes, and plus 30 basis points, in the case of the 2045 Notes, 

plus, in each case, accrued and unpaid interest thereon to the Redemption Date. 

The 2020 Notes are redeemable, in whole or in part from time to time, at the option of the Issuer, at any time on or after March 1, 2020
(one month prior to the 2020 Maturity Date) at a redemption price equal to 100% of the principal amount of the 2020 Notes to be redeemed on that Redemption Date, plus accrued and unpaid interest thereon to the Redemption Date. 

The 2022 Notes are redeemable, in whole or in part from time to time, at the option of the Issuer, at any time on or after February 1,
2022 (two months prior to the 2022 Maturity Date) at a redemption price equal to 100% of the principal amount of the 2022 Notes to be redeemed on that Redemption Date, plus accrued and unpaid interest thereon to the Redemption Date. 

The 2025 Notes are redeemable, in whole or in part from time to time, at the option of the Issuer, at any time on or after January 1,
2025 (three months prior to the 2025 Maturity Date) at a redemption price equal to 100% of the principal amount of the 2025 Notes to be redeemed on that Redemption Date, plus accrued and unpaid interest thereon to the Redemption Date. 

The 2035 Notes are redeemable, in whole or in part from time to time, at the option of the Issuer, at any time on or after February 15,
2035 (six months prior to the 2035 Maturity Date) at a redemption price equal to 100% of the principal amount of the 2035 Notes to be redeemed on that Redemption Date, plus accrued and unpaid interest thereon to the Redemption Date. 

The 2045 Notes are redeemable, in whole or in part from time to time, at the option of the Issuer, at any time on or after February 15,
2045 (six months prior to the 2045 

  
 16 

 
Maturity Date) at a redemption price equal to 100% of the principal amount of the 2045 Notes to be redeemed on that Redemption Date, plus accrued and unpaid interest thereon to the Redemption
Date. 
 (b) Notwithstanding subsection (a) above, installments of interest on the Notes that are due and payable on the 2017 Interest
Payment Dates, the 2018 Interest Payment Dates, the 2020 Interest Payment Dates, the 2022 Interest Payment Dates, the 2025 Interest Payment Dates, the 2035 Interest Payment Dates or the 2045 Interest Payment Dates, as the case may be, falling on or
prior to a Redemption Date will be payable on such 2017 Interest Payment Date, 2018 Interest Payment Date, 2020 Interest Payment Date, 2022 Interest Payment Date, 2025 Interest Payment Date, 2035 Interest Payment Date or 2045 Interest Payment Date
to the registered Holders as of the close of business on the relevant 2017 Regular Record Date, 2018 Regular Record Date, 2020 Regular Record Date, 2022 Regular Record Date, 2025 Regular Record Date, 2035 Regular Record Date or 2045 Regular Record
Date, as the case may be, according to the terms of the Notes and the Indenture. Unless the Issuer defaults in payment of the redemption price, on and after the Redemption Date, interest will cease to accrue on any Notes that are called for
redemption. 
 (c) Notices of any optional redemption will be mailed (or with respect to Global Notes, to the extent permitted or required
by applicable DTC procedures or regulations, sent electronically) at least 30 but not more than 60 days before the Redemption Date to each Holder of the Notes to be redeemed at its registered address. The Issuer will calculate the redemption price
and will deliver an Officer’s Certificate to the Trustee setting forth the redemption price no later than two Business Days prior to the Redemption Date. 

(d) If less than all of any series of Notes are to be redeemed at any time, the Notes to be redeemed will be selected by lot by DTC, in the
case of Global Notes, or by the Trustee by a method the Trustee deems to be fair and appropriate, in the case of Notes that are not represented by a Global Note. 

SECTION 3.02. Special Mandatory Redemption. 

(a) In the event that the LVB Merger has not been consummated on or prior to April 24, 2015 plus any extension period permitted under the
Merger Agreement (the “Outside Date”) or if, prior to such date, the Merger Agreement is terminated, then the Issuer must redeem all of the Notes on the Special Redemption Date at a redemption price equal to 101% of the principal amount of
such Notes, plus accrued and unpaid interest from March 19, 2015 to, but excluding, the Special Redemption Date (subject to the right of holders as of the close of business on an applicable regular record date to receive interest due on the
related interest payment date). The “Special Redemption Date” means the earlier to occur of (1) the Outside Date plus five Business Days and (2) the 30th day (or if such day is not a Business Day, the first Business Day
thereafter) following the termination of the Merger Agreement for any reason. 
 (b) The Issuer will cause notice of a Special Mandatory
Redemption to be mailed (or with respect to Global Notes, to the extent permitted or required by applicable DTC procedures or regulations, sent electronically), with a copy to the Trustee, within ten Business Days after the occurrence of the event
triggering redemption to each Holder of Notes at its 

  
 17 

 
registered address. If funds sufficient to pay the Special Mandatory Redemption price of the Notes on the Special Redemption Date (plus accrued and unpaid interest, if any, to the Special
Redemption Date) are deposited with the Trustee on or before such Special Redemption Date, the Notes will cease to bear interest on and after the Special Redemption Date. 

ARTICLE IV 
 CHANGE OF
CONTROL 
 SECTION 4.01. Repurchase at the Option of Holders Upon a Change of Control Repurchase Event. 

(a) If a Change of Control Repurchase Event occurs, unless the Issuer has exercised its right to redeem the Notes pursuant to the Indenture,
the Issuer will be required to make an offer to each Holder of the Notes to repurchase all or any part (in minimum denominations of $2,000 and integral multiples of $1,000 above that amount) of that Holder’s Notes at a repurchase price in cash
equal to 101% of the aggregate principal amount of the Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to the date of repurchase. 

(b) Within 30 days following any Change of Control Repurchase Event or, at the option of the Issuer, prior to any Change of Control, but after
the public announcement of an impending Change of Control, the Issuer will mail (or with respect to Global Notes, to the extent permitted or required by applicable DTC procedures or regulations, send electronically) a notice to each Holder, with a
copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase the Notes on the payment date specified in the notice, which date will be no earlier
than 30 days and no later than 60 days from the date such notice is sent. The notice shall, if sent prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on a Change of Control Repurchase Event
occurring on or prior to the payment date specified in the notice. 
 (c) The Issuer will comply with the requirements of Rule 14e-1 under
the Exchange Act, and any other securities laws and regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent
that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the Notes, the Issuer will comply with the applicable securities laws and regulations and will not be deemed to have
breached its obligations under the Change of Control Repurchase Event provisions of the Notes or the Indenture by virtue of such conflict. 

(d) On the Change of Control Repurchase Event payment date, the Issuer will, to the extent lawful: 

(i) accept for payment all the Notes or portions of the Notes (in minimum denominations of $2,000 and integral multiples of $1,000 above that
amount) properly tendered pursuant to its offer; 

  
 18 

 (ii) deposit on or before 10:00 a.m., New York City time, with the Paying Agent an amount equal
to the aggregate purchase price in respect of all the Notes or portions of the Notes properly tendered; and 
 (iii) deliver or cause to be
delivered to the Trustee the Notes properly accepted, together with an Officer’s Certificate stating the aggregate principal amount of Notes being purchased by the Issuer. 

(e) The Paying Agent will promptly mail to each Holder of Notes properly tendered the purchase price for the Notes, and the Trustee will
promptly authenticate and mail (or, if a Global Note, to be adjusted on the Schedule of Exchanges attached thereto) to each Holder a new Note equal in principal amount to any unpurchased portion of any Notes surrendered; provided, that each new Note
will be in a principal amount of $2,000 or an integral multiple of $1,000 above that amount. 
 (f) The Issuer will not be required to make
an offer to repurchase the Notes upon a Change of Control Repurchase Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Issuer and such third party
purchases all Notes properly tendered and not withdrawn under its offer. 
 ARTICLE V 

TRANSFER AND EXCHANGE 

SECTION 5.01. Transfer and Exchange. Section 203(1) of the Original Indenture is replaced in its entirety by the following: 

“SECTION 203. Transfer and Exchange. 

(1) Transfer and Exchange of Global Securities. A Global Security may not be transferred as a whole except by the Depository to
a nominee of the Depository, by a nominee of the Depository to the Depository or to another nominee of the Depository, or by the Depository or any such nominee to a successor Depository or a nominee of such successor Depository. The Company
initially appoints The Depository Trust Company (“DTC”) to act as Depository with respect to the Global Securities. Global Securities shall be exchanged by the Company for Definitive Securities if: 

(A) the Company delivers to the Trustee notice from the Depository that it is unwilling or unable to continue to act as
Depository for the Global Securities and a successor Depository is not appointed by the Company within 90 days after the date of such notice from the Depository; 

(B) the Company delivers to the Trustee notice from the Depository that it is no longer a clearing agency registered under the
Exchange Act; 
 (C) the Company, in its sole discretion and subject to the procedures of the Depository, determines that the
Global Securities (in whole but not in part) should be exchanged for Definitive Securities and delivers written notice to such effect to the Trustee; or 

  
 19 

 (D) there shall have occurred and be continuing an Event of Default under this
Indenture and the Trustee has received a request from the Depository or any Holder to issue Definitive Securities. 
 Upon the occurrence of
any of the preceding events in (A), (B) or (C) above, the Company will notify the Trustee in writing that, upon surrender by the Participants of their interest in such Global Securities, Definitive Securities will be issued to each Person
that such Participants and the Depository identify as being the beneficial owner of the related Securities. Beneficial interests in Global Securities may be exchanged for Definitive Securities of the same series upon request but only upon at least
30 days’ prior written notice given to the Trustee by or on behalf of the Depository in accordance with customary procedures. Global Securities also may be exchanged or replaced, in whole or in part, as provided in Sections 304, 305 and 306
hereof. Except as otherwise provided above in this Section 203, every Security authenticated and delivered in exchange for, or in lieu of, a Global Security or any portion thereof, pursuant to this Section 203 or Sections 304, 305 or 306
hereof, shall be authenticated and delivered in the form of, and shall be, a Global Security. A Global Security may not be exchanged for another Security other than as provided in this Section 203(1).” 

ARTICLE VI 
 TRUSTEE

 SECTION 6.01. Corporate Trust Office. The Trustee is appointed as the principal paying agent, transfer agent and registrar for
the Notes and for the purposes of Section 1002 of the Original Indenture. The Notes may be presented for payment at the Paying Agent Office of the Trustee or at any other agency as may be appointed from time to time by the Issuer in The City of
New York or the City of Chicago. 
 SECTION 6.02. Recitals of Fact. The Trustee shall not be responsible in any manner whatsoever for
or in respect of the validity or sufficiency of this Third Supplemental Indenture or the due execution thereof by the Issuer. The recitals of fact contained herein shall be taken as the statements solely of the Issuer and the Trustee assumes no
responsibility for the correctness thereof. 
 SECTION 6.03. Successor. Any corporation or association into which the Trustee may be
merged or converted or with which it may be consolidated, or any corporation or association resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation or association to which all or substantially
all of the corporate trust business of the Trustee may be sold or otherwise transferred, shall be the successor trustee hereunder without any further act. 

  
 20 

 ARTICLE VII 

MISCELLANEOUS PROVISIONS 

SECTION 7.01. Ratification of Original Indenture. This Third Supplemental Indenture is executed and shall be construed as an indenture
supplemental to the Original Indenture, and as supplemented and modified hereby, the Original Indenture is in all respects ratified and confirmed, and the Original Indenture and this Third Supplemental Indenture shall be read, taken and construed as
one and the same instrument. 
 SECTION 7.02. Effect of Headings. The Article and Section headings herein are for convenience only
and shall not affect the construction hereof. 
 SECTION 7.03. Successors and Assigns. All covenants and agreements in this Third
Supplemental Indenture by the Issuer shall bind its successors and assigns, whether so expressed or not. 
 SECTION 7.04. Separability
Clause. In case any one or more of the provisions contained in this Third Supplemental Indenture shall for any reason be held to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby. 
 SECTION 7.05. Governing Law. THIS THIRD SUPPLEMENTAL INDENTURE
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 7.06. Counterparts. This Third
Supplemental Indenture may be executed in any number of counterparts, and each of such counterparts shall for all purposes be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. Signatures of
the parties hereto transmitted by facsimile or PDF may be used in lieu of the originals and shall be deemed to be their original signatures for all purposes. 

  
 21 

 * * * * 

IN WITNESS WHEREOF, the parties hereto have caused this Third Supplemental Indenture to be duly executed as of the date first above written. 

 

					
	ZIMMER HOLDINGS, INC.
		
	By:		 /s/ James T. Crines

			
			Name:		James T. Crines
			Title:		Executive Vice President, Finance and Chief Financial Officer
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	as Trustee
		
	By:		 /s/ Gregory S. Clarke

			
			Name:		Gregory S. Clarke
			Title:		Vice President

 Signature page to Supplemental Indenture 

 EXHIBIT A 

FORM OF GLOBAL 2017 NOTE 

[FACE OF GLOBAL NOTE] 
 THIS GLOBAL
NOTE IS HELD BY AND REGISTERED IN THE NAME OF THE DEPOSITORY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY), IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (A) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 203 OF THE INDENTURE, (B) THIS GLOBAL
NOTE MAY BE EXCHANGED PURSUANT TO SECTION 203(1) OF THE INDENTURE, (C) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 309 OF THE INDENTURE AND (D) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 CUSIP 98956P AJ1 

ZIMMER HOLDINGS, INC. 

$[        ] 1.450% Notes due 2017 

 

					
	$[            ]		No.: R-—

 Zimmer Holdings, Inc., a corporation duly organized and existing under the laws of the State of Delaware
(herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of
[        ] Dollars (or such other lesser or greater amount set forth on the Schedule of Exchanges of Interests in the Global Security attached hereto) on April 1, 2017, and to pay interest thereon from
March 19, 2015 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on April 1 and October 1 each year, commencing on October 1, 2015, at the rate of 1.450% per
annum, until the principal hereof is paid or made available for payment. The interest 

  

$[        ] 1.450% Note due 2017 

A-1 

 
so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the March 15 or the September 15 (whether or not a Business Day), as the case may be, next preceding such Interest
Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holder of Securities of this series not less than 10 days prior to
such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in said Indenture. 
 Payment of the principal of (and premium, if any) and any such interest on this
Security will be made at the office or agency of the Company maintained for that purpose at the Paying Agent Office of the Trustee, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  

$[        ] 1.450% Note due 2017 

A-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	ZIMMER HOLDINGS, INC.
		
	By:		  

			Name:		James T. Crines
			Title:		Executive Vice President, Finance and Chief Financial Officer

  

			
	Attest:
	
	  

	Name:		Chad F. Phipps
	Title:		Senior Vice President, General Counsel and Secretary

  

$[        ] 1.450% Note due 2017 

A-3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated: March 19, 2015 
  

			
	Wells Fargo Bank, National Association as Trustee
		
	By:		  

			Authorized Signatory

  

$[        ] 1.450% Note due 2017 

A-4 

 [FORM OF REVERSE OF NOTE] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of November 17, 2009 (the “Original Indenture”), as supplemented by the Third Supplemental Indenture thereto dated as of March 19, 2015 (the “Third Supplemental
Indenture” and together with the Original Indenture, the “Indenture”), between the Company and Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee”, which term includes any successor trustee under
the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which
the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, limited in aggregate principal amount to $500,000,000. Terms defined in the Indenture and not defined herein have the
meanings ascribed thereto in the Indenture. 
 The Securities of this series are subject to redemption at any time, upon not less than 30
days’ and not more than 60 days’ notice by mail (or with respect to Global Notes, to the extent permitted or required by applicable DTC procedures or regulations, sent electronically), as a whole or from time to time in part, at the
election of the Company (provided, however, that, if the Company shall have elected pursuant to the Indenture to defease the entire Indebtedness of this Security or certain restrictive covenants and Events of Defaults with respect to
this Security, prior to making such election to redeem the Securities it shall have deposited in trust amounts sufficient to pay the redemption price), on any date prior to their Stated Maturity at a redemption price equal to the greater of
(i) 100% of the principal amount of such Securities to be redeemed, plus accrued and unpaid interest thereon to the Redemption Date and (ii) the sum of the present values of the Remaining Scheduled Payments (as defined below) of such
Securities to be redeemed, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below), plus 12.5 basis points, plus accrued and unpaid interest
thereon to the Redemption Date. 
 “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to
the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date.

 “Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a
maturity comparable to the remaining term of the series of Securities to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of such Securities. 
 “Comparable Treasury Price” means, with respect to any
Redemption Date, (1) the average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, (2) if the Company can only obtain less than four
such Reference Treasury Dealer Quotations, the average of all such quotations or (3) if the Company can only obtain one Reference Treasury Dealer Quotation, such quotation. 

  

$[        ] 1.450% Note due 2017 

A-5 

 “Quotation Agent” means the Reference Treasury Dealer appointed by the Company.

 “Reference Treasury Dealer” means (1) each of Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC,
J.P. Morgan Securities LLC or Merrill Lynch, Pierce, Fenner & Smith Incorporated (or their respective affiliates that are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the
foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer, and (2) another Primary Treasury Dealer
selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference
Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
 “Remaining Scheduled
Payments” means, with respect to each Security to be redeemed, the remaining scheduled payments of the principal thereof and interest thereon that would be due after the related Redemption Date for such redemption; provided,
however, that, if such Redemption Date is not an Interest Payment Date with respect to such Security, the amount of the next succeeding scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to such
Redemption Date. 
 In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor
for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 “LVB
Merger” means the merger of Owl Merger Sub, Inc. (“Owl Merger Sub”) with and into LVB Acquisition, Inc. (“LVB”) whereby LVB will continue as the surviving corporation, and LVB and Biomet, Inc. (“Biomet”) will
become the Company’s indirect wholly-owned subsidiaries, pursuant to the Merger Agreement. 
 “Merger Agreement” means
the merger agreement, dated as of April 24, 2014, by and among the Company, its subsidiary, Owl Merger Sub, and LVB, the parent of Biomet. 

In the event that the LVB Merger has not been consummated on or prior to April 24, 2015 plus any extension period permitted under the
Merger Agreement (the “Outside Date”) or if, prior to such date, the Merger Agreement is terminated, then the Issuer must redeem all of the Securities of this series on the Special Redemption Date at a redemption price equal to 101% of the
principal amount of such Securities, plus accrued and unpaid interest from March 19, 2015 to, but excluding, the Special Redemption Date (subject to the right of Holders as of the close of business on an applicable Regular Record Date to
receive interest due on the related Interest Payment Date). The “Special Redemption Date” means the earlier to occur of (1) the Outside Date plus five Business Days and (2) the 30th day (or if such day is not a Business Day, the
first Business Day thereafter) following the termination of the Merger Agreement for any reason. 

  

$[        ] 1.450% Note due 2017 

A-6 

 If a Change of Control Repurchase Event occurs, unless the Company has exercised its right to
redeem the Securities of this series pursuant to the Indenture, the Company will be required to make an offer to each Holder of the Securities of this series to repurchase all or any part (in minimum denominations of $2,000 and integral multiples of
$1,000 above that amount) of that Holder’s Securities of this series at a repurchase price in cash equal to 101% of the aggregate principal amount of such Securities repurchased plus any accrued and unpaid interest on such Securities
repurchased to the date of repurchase, in accordance with and pursuant to the terms and conditions set forth in the Indenture. 
 The
Indenture contains provisions for defeasance at any time of the entire Indebtedness of this Security or certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth
in the Indenture. 
 If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the
Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any
time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified
percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any
proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default
as Trustee and offered the Trustee indemnity or security reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction
inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for
the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

  

$[        ] 1.450% Note due 2017 

A-7 

 No reference herein to the Indenture and no provision of this Security or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security may be registered and this
Security may be exchanged as provided in the Indenture. 
 The Securities of this series are issuable only in registered form without
coupons in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 
 No service charge shall be made for any
such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  

$[        ] 1.450% Note due 2017 

A-8 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
 I or we
assign and transfer this Security to: 
  

	
	  

	(Insert assignee’s social security or tax I.D. no.)
	
	  

	
	  

	
	  

	
	  

	(Print or type assignee’s name, address and zip code)

 and irrevocably appoint
                     as agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 

			
	
	  

		
	Your Signature:		  

			(Sign exactly as your name appears on the other side of this Security)

  

			
	Your Name:		  

 

			
	Date:		  

 

					
	Signature Guarantee:		  
		*

  

	*	NOTICE: The Signature must be guaranteed by an Institution which is a member of one of the following recognized signature Guarantee Programs: (i) The Securities Transfer Agent Medallion Program (STAMP);
(ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee. 

  

$[        ] 1.450% Note due 2017 

A-9 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY 

The following exchanges of an interest in this Global Security for an interest in another Global Security or for a Definitive Security, or
exchanges of an interest in another Global Security or a Definitive Security for an interest in this Global Security have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease
in Principal Amount of
this Global Security	  	Amount of increase
in Principal Amount of
this Global Security	  	Principal Amount of this
Global Security following
such decrease or increase	  	Signature of authorized
signatory or Trustee or
Securities Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

$[        ] 1.450% Note due 2017 

A-10 

 EXHIBIT B 

FORM OF GLOBAL 2018 NOTE 

[FACE OF GLOBAL NOTE] 
 THIS GLOBAL
NOTE IS HELD BY AND REGISTERED IN THE NAME OF THE DEPOSITORY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY), IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (A) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 203 OF THE INDENTURE, (B) THIS GLOBAL
NOTE MAY BE EXCHANGED PURSUANT TO SECTION 203(1) OF THE INDENTURE, (C) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 309 OF THE INDENTURE AND (D) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 CUSIP 98956P AE2 

ZIMMER HOLDINGS, INC. 

$[        ] 2.000% Notes due 2018 

 

			
	$[        ]		No.: R-—

 Zimmer Holdings, Inc., a corporation duly organized and existing under the laws of the State of Delaware (herein called the
“Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of
[        ] Dollars (or such other lesser or greater amount set forth on the Schedule of Exchanges of Interests in the Global Security attached hereto) on April 1, 2018, and to pay interest thereon from
March 19, 2015 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on April 1 and October 1 each year, commencing on October 1, 2015, at the rate of 2.000% per

  

$[        ] 2.000% Note due 2018 

B-1 

 
annum, until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such
Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the March 15 or the September 15
(whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either
be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be
given to Holder of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this
series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 
 Payment of
the principal of (and premium, if any) and any such interest on this Security will be made at the office or agency of the Company maintained for that purpose at the Paying Agent Office of the Trustee, in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled
thereto as such address shall appear in the Security Register. 
 Reference is hereby made to the further provisions of this Security set
forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless
the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  

$[        ] 2.000% Note due 2018 

B-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	ZIMMER HOLDINGS, INC.
		
	By:		  

			Name:		James T. Crines
			Title:		Executive Vice President, Finance and Chief Financial Officer

  

			
	Attest:
	
	  

	Name:		Chad F. Phipps
	Title:		Senior Vice President, General Counsel and Secretary

  

$[        ] 2.000% Note due 2018 

B-3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated: March 19, 2015 
  

			
	Wells Fargo Bank, National Association as Trustee
		
	By:		  

			Authorized Signatory

  

$[        ] 2.000% Note due 2018 

B-4 

 [FORM OF REVERSE OF NOTE] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of November 17, 2009 (the “Original Indenture”), as supplemented by the Third Supplemental Indenture thereto dated as of March 19, 2015 (the “Third Supplemental
Indenture” and together with the Original Indenture, the “Indenture”), between the Company and Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee”, which term includes any successor trustee under
the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which
the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, limited in aggregate principal amount to $1,150,000,000. Terms defined in the Indenture and not defined herein have the
meanings ascribed thereto in the Indenture. 
 The Securities of this series are subject to redemption at any time, upon not less than 30
days’ and not more than 60 days’ notice by mail (or with respect to Global Notes, to the extent permitted or required by applicable DTC procedures or regulations, sent electronically), as a whole or from time to time in part, at the
election of the Company (provided, however, that, if the Company shall have elected pursuant to the Indenture to defease the entire Indebtedness of this Security or certain restrictive covenants and Events of Defaults with respect to
this Security, prior to making such election to redeem the Securities it shall have deposited in trust amounts sufficient to pay the redemption price), on any date prior to their Stated Maturity at a redemption price equal to the greater of
(i) 100% of the principal amount of such Securities to be redeemed, plus accrued and unpaid interest thereon to the Redemption Date and (ii) the sum of the present values of the Remaining Scheduled Payments (as defined below) of such
Securities to be redeemed, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below), plus 15 basis points, plus accrued and unpaid interest thereon
to the Redemption Date. 
 “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the
semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term of the series of Securities to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of such Securities. 
 “Comparable Treasury Price” means, with respect to any Redemption
Date, (1) the average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, (2) if the Company can only obtain less than four such Reference
Treasury Dealer Quotations, the average of all such quotations or (3) if the Company can only obtain one Reference Treasury Dealer Quotation, such quotation. 

  

$[        ] 2.000% Note due 2018 

B-5 

 “Quotation Agent” means the Reference Treasury Dealer appointed by the Company.

 “Reference Treasury Dealer” means (1) each of Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC,
J.P. Morgan Securities LLC or Merrill Lynch, Pierce, Fenner & Smith Incorporated (or their respective affiliates that are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the
foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer, and (2) another Primary Treasury Dealer
selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference
Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
 “Remaining Scheduled
Payments” means, with respect to each Security to be redeemed, the remaining scheduled payments of the principal thereof and interest thereon that would be due after the related Redemption Date for such redemption; provided,
however, that, if such Redemption Date is not an Interest Payment Date with respect to such Security, the amount of the next succeeding scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to such
Redemption Date. 
 In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor
for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 “LVB
Merger” means the merger of Owl Merger Sub, Inc. (“Owl Merger Sub”) with and into LVB Acquisition, Inc. (“LVB”) whereby LVB will continue as the surviving corporation, and LVB and Biomet, Inc. (“Biomet”) will
become the Company’s indirect wholly-owned subsidiaries, pursuant to the Merger Agreement. 
 “Merger Agreement” means
the merger agreement, dated as of April 24, 2014, by and among the Company, its subsidiary, Owl Merger Sub, and LVB, the parent of Biomet. 

In the event that the LVB Merger has not been consummated on or prior to April 24, 2015 plus any extension period permitted under the
Merger Agreement (the “Outside Date”) or if, prior to such date, the Merger Agreement is terminated, then the Issuer must redeem all of the Securities of this series on the Special Redemption Date at a redemption price equal to 101% of the
principal amount of such Securities, plus accrued and unpaid interest from March 19, 2015 to, but excluding, the Special Redemption Date (subject to the right of Holders as of the close of business on an applicable Regular Record Date to
receive interest due on the related Interest Payment Date). The “Special Redemption Date” means the earlier to occur of (1) the Outside Date plus five Business Days and (2) the 30th day (or if such day is not a Business Day, the
first Business Day thereafter) following the termination of the Merger Agreement for any reason. 

  

$[        ] 2.000% Note due 2018 

B-6 

 If a Change of Control Repurchase Event occurs, unless the Company has exercised its right to
redeem the Securities of this series pursuant to the Indenture, the Company will be required to make an offer to each Holder of the Securities of this series to repurchase all or any part (in minimum denominations of $2,000 and integral multiples of
$1,000 above that amount) of that Holder’s Securities of this series at a repurchase price in cash equal to 101% of the aggregate principal amount of such Securities repurchased plus any accrued and unpaid interest on such Securities
repurchased to the date of repurchase, in accordance with and pursuant to the terms and conditions set forth in the Indenture. 
 The
Indenture contains provisions for defeasance at any time of the entire Indebtedness of this Security or certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth
in the Indenture. 
 If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the
Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any
time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified
percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any
proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default
as Trustee and offered the Trustee indemnity or security reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction
inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for
the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

  

$[        ] 2.000% Note due 2018 

B-7 

 No reference herein to the Indenture and no provision of this Security or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security may be registered and this
Security may be exchanged as provided in the Indenture. 
 The Securities of this series are issuable only in registered form without
coupons in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 
 No service charge shall be made for any
such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  

$[        ] 2.000% Note due 2018 

B-8 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
 I or we
assign and transfer this Security to: 
  

	
	  

	(Insert assignee’s social security or tax I.D. no.)
	
	  

	
	  

	
	  

	
	  

	(Print or type assignee’s name, address and zip code)

 and irrevocably appoint
                     as agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 

			
	  

		
	Your Signature:		  

			(Sign exactly as your name appears on the other side of this Security)

  

			
	Your Name:		  

  

			
	Date:		  

  

					
	Signature Guarantee:		  
		*

  

	*	NOTICE: The Signature must be guaranteed by an Institution which is a member of one of the following recognized signature Guarantee Programs: (i) The Securities Transfer Agent Medallion Program (STAMP);
(ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee. 

  

$[        ] 2.000% Note due 2018 

B-9 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY 

The following exchanges of an interest in this Global Security for an interest in another Global Security or for a Definitive Security, or
exchanges of an interest in another Global Security or a Definitive Security for an interest in this Global Security have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease
in Principal Amount of
this Global Security	  	Amount of increase
in Principal Amount of
this Global Security	  	Principal Amount of this
Global Security following
such decrease or increase	  	Signature of authorized
signatory or Trustee or
Securities Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

$[        ] 2.000% Note due 2018 

B-10 

 EXHIBIT C 

FORM OF GLOBAL 2020 NOTE 

[FACE OF GLOBAL NOTE] 
 THIS GLOBAL
NOTE IS HELD BY AND REGISTERED IN THE NAME OF THE DEPOSITORY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY), IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (A) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 203 OF THE INDENTURE, (B) THIS GLOBAL
NOTE MAY BE EXCHANGED PURSUANT TO SECTION 203(1) OF THE INDENTURE, (C) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 309 OF THE INDENTURE AND (D) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 CUSIP 98956P AK8 

ZIMMER HOLDINGS, INC. 

$[        ] 2.700% Notes due 2020 

$[        ] 

No.: R-— 

Zimmer Holdings, Inc., a corporation duly organized and existing under the laws of the State of Delaware (herein called the “Company”, which term
includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of [        ] Dollars (or
such other lesser or greater amount set forth on the Schedule of Exchanges of Interests in the Global Security attached hereto) on April 1, 2020, and to pay interest thereon from March 19, 2015 or from the most recent Interest Payment Date
to which interest has been paid or duly provided for, semi-annually 

  

$[        ] 2.700% Note due 2020 

C-1 

 
on April 1 and October 1 each year, commencing on October 1, 2015, at the rate of 2.700% per annum, until the principal hereof is paid or made available for payment. The
interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of
business on the Regular Record Date for such interest, which shall be the March 15 or the September 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid
or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a
Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holder of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any
other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 

Payment of the principal of (and premium, if any) and any such interest on this Security will be made at the office or agency of the Company
maintained for that purpose at the Paying Agent Office of the Trustee, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that
at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  

$[        ] 2.700% Note due 2020 

C-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	ZIMMER HOLDINGS, INC.
		
	By:		  

			Name:		James T. Crines
			Title:		Executive Vice President, Finance and Chief Financial Officer

  

			
	Attest:
	
	  

	Name:		Chad F. Phipps
	Title:		Senior Vice President, General Counsel and Secretary

  

$[        ] 2.700% Note due 2020 

C-3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated: March 19, 2015 
  

			
	Wells Fargo Bank, National Association as Trustee
		
	By:		  

			Authorized Signatory

  

$[        ] 2.700% Note due 2020 

C-4 

 [FORM OF REVERSE OF NOTE] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of November 17, 2009 (the “Original Indenture”), as supplemented by the Third Supplemental Indenture thereto dated as of March 19, 2015 (the “Third Supplemental
Indenture” and together with the Original Indenture, the “Indenture”), between the Company and Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee”, which term includes any successor trustee under
the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which
the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, limited in aggregate principal amount to $1,500,000,000. Terms defined in the Indenture and not defined herein have the
meanings ascribed thereto in the Indenture. 
 The Securities of this series are subject to redemption, upon not less than 30 days’ and
not more than 60 days’ notice by mail (or with respect to Global Notes, to the extent permitted or required by applicable DTC procedures or regulations, sent electronically), as a whole or from time to time in part, at the election of the
Company (provided, however, that, if the Company shall have elected pursuant to the Indenture to defease the entire Indebtedness of this Security or certain restrictive covenants and Events of Defaults with respect to this Security,
prior to making such election to redeem the Securities it shall have deposited in trust amounts sufficient to pay the redemption price), on any date prior to March 1, 2020 at a redemption price equal to the greater of (i) 100% of the
principal amount of such Securities to be redeemed, plus accrued and unpaid interest thereon to the Redemption Date and (ii) the sum of the present values of the Remaining Scheduled Payments (as defined below) of such Securities to be redeemed,
discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below), plus 20 basis points, plus accrued and unpaid interest thereon to the Redemption Date. In
addition, the Securities of this series are redeemable, in whole or in part from time to time, at the option of the Issuer, at any time on or after March 1, 2020 (one month prior to the 2020 Maturity Date) at a redemption price equal to 100% of
the principal amount of the Securities to be redeemed on that Redemption Date, plus accrued and unpaid interest thereon to the Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to
maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term of the series of Securities to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of such Securities. 

  

$[        ] 2.700% Note due 2020 

C-5 

 “Comparable Treasury Price” means, with respect to any Redemption Date,
(1) the average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, (2) if the Company can only obtain less than four such Reference
Treasury Dealer Quotations, the average of all such quotations or (3) if the Company can only obtain one Reference Treasury Dealer Quotation, such quotation. 

“Quotation Agent” means the Reference Treasury Dealer appointed by the Company. 

“Reference Treasury Dealer” means (1) each of Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P.
Morgan Securities LLC or Merrill Lynch, Pierce, Fenner & Smith Incorporated (or their respective affiliates that are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the foregoing
shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer, and (2) another Primary Treasury Dealer selected by
the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any
Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury
Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
 “Remaining Scheduled
Payments” means, with respect to each Security to be redeemed, the remaining scheduled payments of the principal thereof and interest thereon that would be due after the related Redemption Date for such redemption; provided,
however, that, if such Redemption Date is not an Interest Payment Date with respect to such Security, the amount of the next succeeding scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to such
Redemption Date. 
 In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor
for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 “LVB
Merger” means the merger of Owl Merger Sub, Inc. (“Owl Merger Sub”) with and into LVB Acquisition, Inc. (“LVB”) whereby LVB will continue as the surviving corporation, and LVB and Biomet, Inc. (“Biomet”) will
become the Company’s indirect wholly-owned subsidiaries, pursuant to the Merger Agreement. 
 “Merger Agreement” means
the merger agreement, dated as of April 24, 2014, by and among the Company, its subsidiary, Owl Merger Sub, and LVB, the parent of Biomet. 

In the event that the LVB Merger has not been consummated on or prior to April 24, 2015 plus any extension period permitted under the
Merger Agreement (the “Outside Date”) or if, prior to such date, the Merger Agreement is terminated, then the Issuer must redeem all of the Securities of this series on the Special Redemption Date at a redemption price equal to 101% of the
principal amount of such Securities, plus accrued and unpaid interest from March 19, 2015 to, but excluding, the Special Redemption Date (subject to the right of Holders as of the close of 

  

$[        ] 2.700% Note due 2020 

C-6 

 
business on an applicable Regular Record Date to receive interest due on the related Interest Payment Date). The “Special Redemption Date” means the earlier to occur of (1) the
Outside Date plus five Business Days and (2) the 30th day (or if such day is not a Business Day, the first Business Day thereafter) following the termination of the Merger Agreement for any reason. 

If a Change of Control Repurchase Event occurs, unless the Company has exercised its right to redeem the Securities of this series pursuant to
the Indenture, the Company will be required to make an offer to each Holder of the Securities of this series to repurchase all or any part (in minimum denominations of $2,000 and integral multiples of $1,000 above that amount) of that Holder’s
Securities of this series at a repurchase price in cash equal to 101% of the aggregate principal amount of such Securities repurchased plus any accrued and unpaid interest on such Securities repurchased to the date of repurchase, in accordance with
and pursuant to the terms and conditions set forth in the Indenture. 
 The Indenture contains provisions for defeasance at any time of the
entire Indebtedness of this Security or certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and
the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in
principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer
hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As
provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy
thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity or security reasonably satisfactory to it, and the Trustee shall
not have received from the Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt
of such notice, request and offer of indemnity. The foregoing shall not 

  

$[        ] 2.700% Note due 2020 

C-7 

 
apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed
herein. 
 No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation
of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security may be registered and this
Security may be exchanged as provided in the Indenture. 
 The Securities of this series are issuable only in registered form without
coupons in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 
 No service charge shall be made for any
such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  

$[        ] 2.700% Note due 2020 

C-8 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
 I or we
assign and transfer this Security to: 
  

	
	  

	(Insert assignee’s social security or tax I.D. no.)
	
	  

	
	  

	
	  

	
	  

	(Print or type assignee’s name, address and zip code)

 and irrevocably appoint
                     as agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 

			
	  

		
	Your Signature:		  

			(Sign exactly as your name appears on the other side of this Security)

  

			
	Your Name:		  

  

			
	Date:		  

  

					
	Signature Guarantee:		  
		*

  

	*	NOTICE: The Signature must be guaranteed by an Institution which is a member of one of the following recognized signature Guarantee Programs: (i) The Securities Transfer Agent Medallion Program (STAMP);
(ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee. 

  

$[        ] 2.700% Note due 2020 

C-9 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY 

The following exchanges of an interest in this Global Security for an interest in another Global Security or for a Definitive Security, or
exchanges of an interest in another Global Security or a Definitive Security for an interest in this Global Security have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease
in Principal Amount of
this Global Security	  	Amount of increase
in Principal Amount of
this Global Security	  	Principal Amount of this
Global Security following
such decrease or increase	  	Signature of authorized
signatory or Trustee or
Securities Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

$[        ] 2.700% Note due 2020 

C-10 

 EXHIBIT D 

FORM OF GLOBAL 2022 NOTE 

[FACE OF GLOBAL NOTE] 
 THIS GLOBAL
NOTE IS HELD BY AND REGISTERED IN THE NAME OF THE DEPOSITORY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY), IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (A) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 203 OF THE INDENTURE, (B) THIS GLOBAL
NOTE MAY BE EXCHANGED PURSUANT TO SECTION 203(1) OF THE INDENTURE, (C) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 309 OF THE INDENTURE AND (D) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 CUSIP 98956P AL6 

ZIMMER HOLDINGS, INC. 

$[        ] 3.150% Notes due 2022 

 

			
	$[        ]		No.: R-—

 Zimmer Holdings, Inc., a corporation duly organized and existing under the laws of the State of Delaware
(herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of
[        ] Dollars (or such other lesser or greater amount set forth on the Schedule of Exchanges of Interests in the Global Security attached hereto) on April 1, 2022, and to pay interest thereon from
March 19, 2015 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, 

  

$[        ] 3.150% Note due 2022 

D-1 

 
semi-annually on April 1 and October 1 each year, commencing on October 1, 2015, at the rate of 3.150% per annum, until the principal hereof is paid or made available for
payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at
the close of business on the Regular Record Date for such interest, which shall be the March 15 or the September 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so
punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of
business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holder of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any
time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said
Indenture. 
 Payment of the principal of (and premium, if any) and any such interest on this Security will be made at the office or
agency of the Company maintained for that purpose at the Paying Agent Office of the Trustee, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided,
however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  

$[        ] 3.150% Note due 2022 

D-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	ZIMMER HOLDINGS, INC.
		
	By:		  

			Name:		James T. Crines
			Title:		Executive Vice President, Finance and Chief Financial Officer

  

			
	Attest:
	
	  

	Name:		Chad F. Phipps
	Title:		Senior Vice President, General Counsel and Secretary

  

$[        ] 3.150% Note due 2022 

D-3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated: March 19, 2015 
  

			
	Wells Fargo Bank, National Association as Trustee
		
	By:		  

			Authorized Signatory

  

$[        ] 3.150% Note due 2022 

D-4 

 [FORM OF REVERSE OF NOTE] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of November 17, 2009 (the “Original Indenture”), as supplemented by the Third Supplemental Indenture thereto dated as of March 19, 2015 (the “Third Supplemental
Indenture” and together with the Original Indenture, the “Indenture”), between the Company and Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee”, which term includes any successor trustee under
the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which
the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, limited in aggregate principal amount to $750,000,000. Terms defined in the Indenture and not defined herein have the
meanings ascribed thereto in the Indenture. 
 The Securities of this series are subject to redemption, upon not less than 30
days’ and not more than 60 days’ notice by mail (or with respect to Global Notes, to the extent permitted or required by applicable DTC procedures or regulations, sent electronically), as a whole or from time to time in part, at the
election of the Company (provided, however, that, if the Company shall have elected pursuant to the Indenture to defease the entire Indebtedness of this Security or certain restrictive covenants and Events of Defaults with respect to
this Security, prior to making such election to redeem the Securities it shall have deposited in trust amounts sufficient to pay the redemption price), on any date prior to February 1, 2022 at a redemption price equal to the greater of
(i) 100% of the principal amount of such Securities to be redeemed, plus accrued and unpaid interest thereon to the Redemption Date and (ii) the sum of the present values of the Remaining Scheduled Payments (as defined below) of such
Securities to be redeemed, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below), plus 20 basis points, plus accrued and unpaid interest thereon
to the Redemption Date. In addition, the Securities of this series are redeemable, in whole or in part from time to time, at the option of the Issuer, at any time on or after February 1, 2022 (two months prior to the 2022 Maturity Date) at a
redemption price equal to 100% of the principal amount of the Securities to be redeemed on that Redemption Date, plus accrued and unpaid interest thereon to the Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent
yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a
maturity comparable to the remaining term of the series of Securities to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of such Securities. 

  

$[        ] 3.150% Note due 2022 

D-5 

 “Comparable Treasury Price” means, with respect to any Redemption Date,
(1) the average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, (2) if the Company can only obtain less than four such Reference
Treasury Dealer Quotations, the average of all such quotations or (3) if the Company can only obtain one Reference Treasury Dealer Quotation, such quotation. 

“Quotation Agent” means the Reference Treasury Dealer appointed by the Company. 

“Reference Treasury Dealer” means (1) each of Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC,
J.P. Morgan Securities LLC or Merrill Lynch, Pierce, Fenner & Smith Incorporated (or their respective affiliates that are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the
foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer, and (2) another Primary Treasury Dealer
selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by
such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Remaining Scheduled Payments” means, with respect to each Security to be redeemed, the remaining scheduled payments
of the principal thereof and interest thereon that would be due after the related Redemption Date for such redemption; provided, however, that, if such Redemption Date is not an Interest Payment Date with respect to such Security, the
amount of the next succeeding scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to such Redemption Date. 

In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed
portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 “LVB Merger” means the
merger of Owl Merger Sub, Inc. (“Owl Merger Sub”) with and into LVB Acquisition, Inc. (“LVB”) whereby LVB will continue as the surviving corporation, and LVB and Biomet, Inc. (“Biomet”) will become the Company’s
indirect wholly-owned subsidiaries, pursuant to the Merger Agreement. 
 “Merger Agreement” means the merger
agreement, dated as of April 24, 2014, by and among the Company, its subsidiary, Owl Merger Sub, and LVB, the parent of Biomet. 

In the event that the LVB Merger has not been consummated on or prior to April 24, 2015 plus any extension period permitted under the
Merger Agreement (the “Outside Date”) or if, prior to such date, the Merger Agreement is terminated, then the Issuer must redeem all of the Securities of this series on the Special Redemption Date at a redemption price equal to 101% of the
principal amount of such Securities, plus accrued and unpaid interest from March 19, 2015 

  

$[        ] 3.150% Note due 2022 

D-6 

 
to, but excluding, the Special Redemption Date (subject to the right of Holders as of the close of business on an applicable Regular Record Date to receive interest due on the related Interest
Payment Date). The “Special Redemption Date” means the earlier to occur of (1) the Outside Date plus five Business Days and (2) the 30th day (or if such day is not a Business Day, the first Business Day thereafter) following the
termination of the Merger Agreement for any reason. 
 If a Change of Control Repurchase Event occurs, unless the Company has exercised its
right to redeem the Securities of this series pursuant to the Indenture, the Company will be required to make an offer to each Holder of the Securities of this series to repurchase all or any part (in minimum denominations of $2,000 and integral
multiples of $1,000 above that amount) of that Holder’s Securities of this series at a repurchase price in cash equal to 101% of the aggregate principal amount of such Securities repurchased plus any accrued and unpaid interest on such
Securities repurchased to the date of repurchase, in accordance with and pursuant to the terms and conditions set forth in the Indenture. 

The Indenture contains provisions for defeasance at any time of the entire Indebtedness of this Security or certain restrictive covenants and
Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an
Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all
Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be
conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the
right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect
of such Event of Default as Trustee and offered the Trustee indemnity or security reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time
Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, 

  

$[        ] 3.150% Note due 2022 

D-7 

 
for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of
principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No reference herein to the
Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and
rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth,
the transfer of this Security may be registered and this Security may be exchanged as provided in the Indenture. 
 The Securities of this
series are issuable only in registered form without coupons in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Security for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Security which are defined in the
Indenture shall have the meanings assigned to them in the Indenture. 

  

$[        ] 3.150% Note due 2022 

D-8 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
 I or we
assign and transfer this Security to: 
  

	
	  

	(Insert assignee’s social security or tax I.D. no.)
	
	  

	
	  

	
	  

	
	  

	(Print or type assignee’s name, address and zip code)

 and irrevocably appoint
                     as agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 

			
	  

		
	Your Signature:		  

			(Sign exactly as your name appears on the other side of this Security)

  

			
	Your Name:		  

 

			
	Date:		  

 

					
	Signature Guarantee:		  
		*

  

	*	NOTICE: The Signature must be guaranteed by an Institution which is a member of one of the following recognized signature Guarantee Programs: (i) The Securities Transfer Agent Medallion Program (STAMP);
(ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee. 

  

$[        ] 3.150% Note due 2022 

D-9 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY 

The following exchanges of an interest in this Global Security for an interest in another Global Security or for a Definitive Security, or
exchanges of an interest in another Global Security or a Definitive Security for an interest in this Global Security have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease
in Principal Amount of
this Global Security	  	Amount of increase
in Principal Amount of
this Global Security	  	Principal Amount of this
Global Security following
such decrease or increase	  	Signature of authorized
signatory or Trustee or
Securities Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

$[        ] 3.150% Note due 2022 

D-10 

 EXHIBIT E 

FORM OF GLOBAL 2025 NOTE 

[FACE OF GLOBAL NOTE] 
 THIS GLOBAL
NOTE IS HELD BY AND REGISTERED IN THE NAME OF THE DEPOSITORY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY), IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (A) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 203 OF THE INDENTURE, (B) THIS GLOBAL
NOTE MAY BE EXCHANGED PURSUANT TO SECTION 203(1) OF THE INDENTURE, (C) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 309 OF THE INDENTURE AND (D) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 CUSIP 98956P AF9 

ZIMMER HOLDINGS, INC. 

$[        ] 3.550% Notes due 2025 

 

			
	$[        ]		No.: R-—

 Zimmer Holdings, Inc., a corporation duly organized and existing under the laws of the State of Delaware
(herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of
[        ] Dollars (or such other lesser or greater amount set forth on the Schedule of Exchanges of Interests in the Global Security attached hereto) on April 1, 2025, and to pay interest thereon from
March 19, 2015 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on April 1 and October 1 each year, commencing on October 1, 2015, at the rate of

  

$[        ] 3.550% Note due 2025 

E-1 

 
3.550% per annum, until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as
provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the March 15 or the
September 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record
Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee,
notice whereof shall be given to Holder of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on
which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 

Payment of the principal of (and premium, if any) and any such interest on this Security will be made at the office or agency of the Company
maintained for that purpose at the Paying Agent Office of the Trustee, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that
at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  

$[        ] 3.550% Note due 2025 

E-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	ZIMMER HOLDINGS, INC.
		
	By:		  

			Name:		James T. Crines
			Title:		Executive Vice President, Finance and Chief Financial Officer

  

			
	Attest:
	
	  

	Name:		Chad F. Phipps
	Title:		Senior Vice President, General Counsel and Secretary

  

$[        ] 3.550% Note due 2025 

E-3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated: March 19, 2015 
  

			
	Wells Fargo Bank, National Association as Trustee
		
	By:		  

			Authorized Signatory

  

$[        ] 3.550% Note due 2025 

E-4 

 [FORM OF REVERSE OF NOTE] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of November 17, 2009 (the “Original Indenture”), as supplemented by the Third Supplemental Indenture thereto dated as of March 19, 2015 (the “Third Supplemental
Indenture” and together with the Original Indenture, the “Indenture”), between the Company and Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee”, which term includes any successor trustee under
the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which
the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, limited in aggregate principal amount to $2,000,000,000. Terms defined in the Indenture and not defined herein have the
meanings ascribed thereto in the Indenture. 
 The Securities of this series are subject to redemption, upon not less than 30 days’ and
not more than 60 days’ notice by mail (or with respect to Global Notes, to the extent permitted or required by applicable DTC procedures or regulations, sent electronically), as a whole or from time to time in part, at the election of the
Company (provided, however, that, if the Company shall have elected pursuant to the Indenture to defease the entire Indebtedness of this Security or certain restrictive covenants and Events of Defaults with respect to this Security,
prior to making such election to redeem the Securities it shall have deposited in trust amounts sufficient to pay the redemption price), on any date prior to January 1, 2025 at a redemption price equal to the greater of (i) 100% of the
principal amount of such Securities to be redeemed, plus accrued and unpaid interest thereon to the Redemption Date and (ii) the sum of the present values of the Remaining Scheduled Payments (as defined below) of such Securities to be redeemed,
discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below), plus 25 basis points, plus accrued and unpaid interest thereon to the Redemption Date. In
addition, the Securities of this series are redeemable, in whole or in part from time to time, at the option of the Issuer, at any time on or after January 1, 2025 (three months prior to the 2025 Maturity Date) at a redemption price equal to
100% of the principal amount of the Securities to be redeemed on that Redemption Date, plus accrued and unpaid interest thereon to the Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent
yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a
maturity comparable to the remaining term of the series of Securities to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of such Securities. 

  

$[        ] 3.550% Note due 2025 

E-5 

 “Comparable Treasury Price” means, with respect to any Redemption Date,
(1) the average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, (2) if the Company can only obtain less than four such Reference
Treasury Dealer Quotations, the average of all such quotations or (3) if the Company can only obtain one Reference Treasury Dealer Quotation, such quotation. 

“Quotation Agent” means the Reference Treasury Dealer appointed by the Company. 

“Reference Treasury Dealer” means (1) each of Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC,
J.P. Morgan Securities LLC or Merrill Lynch, Pierce, Fenner & Smith Incorporated (or their respective affiliates that are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the
foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer, and (2) another Primary Treasury Dealer
selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by
such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Remaining Scheduled Payments” means, with respect to each Security to be redeemed, the remaining scheduled payments
of the principal thereof and interest thereon that would be due after the related Redemption Date for such redemption; provided, however, that, if such Redemption Date is not an Interest Payment Date with respect to such Security, the
amount of the next succeeding scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to such Redemption Date. 

In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed
portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 “LVB Merger” means the
merger of Owl Merger Sub, Inc. (“Owl Merger Sub”) with and into LVB Acquisition, Inc. (“LVB”) whereby LVB will continue as the surviving corporation, and LVB and Biomet, Inc. (“Biomet”) will become the Company’s
indirect wholly-owned subsidiaries, pursuant to the Merger Agreement. 
 “Merger Agreement” means the merger
agreement, dated as of April 24, 2014, by and among the Company, its subsidiary, Owl Merger Sub, and LVB, the parent of Biomet. 

In the event that the LVB Merger has not been consummated on or prior to April 24, 2015 plus any extension period permitted under the
Merger Agreement (the “Outside Date”) or if, prior to such date, the Merger Agreement is terminated, then the Issuer must redeem all of the Securities of this series on the Special Redemption Date at a redemption price equal to 101% of the
principal amount of such Securities, plus accrued and unpaid interest from March 19, 2015 

  

$[        ] 3.550% Note due 2025 

E-6 

 
to, but excluding, the Special Redemption Date (subject to the right of Holders as of the close of business on an applicable Regular Record Date to receive interest due on the related Interest
Payment Date). The “Special Redemption Date” means the earlier to occur of (1) the Outside Date plus five Business Days and (2) the 30th day (or if such day is not a Business Day, the first Business Day thereafter) following the
termination of the Merger Agreement for any reason. 
 If a Change of Control Repurchase Event occurs, unless the Company has exercised its
right to redeem the Securities of this series pursuant to the Indenture, the Company will be required to make an offer to each Holder of the Securities of this series to repurchase all or any part (in minimum denominations of $2,000 and integral
multiples of $1,000 above that amount) of that Holder’s Securities of this series at a repurchase price in cash equal to 101% of the aggregate principal amount of such Securities repurchased plus any accrued and unpaid interest on such
Securities repurchased to the date of repurchase, in accordance with and pursuant to the terms and conditions set forth in the Indenture. 

The Indenture contains provisions for defeasance at any time of the entire Indebtedness of this Security or certain restrictive covenants and
Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an
Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all
Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be
conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the
right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect
of such Event of Default as Trustee and offered the Trustee indemnity or security reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time
Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, 

  

$[        ] 3.550% Note due 2025 

E-7 

 
for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of
principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No reference herein to the
Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and
rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth,
the transfer of this Security may be registered and this Security may be exchanged as provided in the Indenture. 
 The Securities of this
series are issuable only in registered form without coupons in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Security for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Security which are defined in the
Indenture shall have the meanings assigned to them in the Indenture. 

  

$[        ] 3.550% Note due 2025 

E-8 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
 I or we
assign and transfer this Security to: 
  

	
	  

	(Insert assignee’s social security or tax I.D. no.)
	
	  

	
	  

	
	  

	
	  

	(Print or type assignee’s name, address and zip code)

 and irrevocably appoint
                     as agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 

			
	  

		
	Your Signature:		  

			(Sign exactly as your name appears on the other side of this Security)

  

			
	Your Name:		  

 

			
	Date:		  

 

					
	Signature Guarantee:		  
		*

  

	*	NOTICE: The Signature must be guaranteed by an Institution which is a member of one of the following recognized signature Guarantee Programs: (i) The Securities Transfer Agent Medallion Program (STAMP);
(ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee. 

  

$[        ] 3.550% Note due 2025 

E-9 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY 

The following exchanges of an interest in this Global Security for an interest in another Global Security or for a Definitive Security, or
exchanges of an interest in another Global Security or a Definitive Security for an interest in this Global Security have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease
in Principal Amount of
this Global Security	  	Amount of increase
in Principal Amount of
this Global Security	  	Principal Amount of this
Global Security following
such decrease or increase	  	Signature of authorized
signatory or Trustee or
Securities Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

$[        ] 3.550% Note due 2025 

E-10 

 EXHIBIT F 

FORM OF GLOBAL 2035 NOTE 

[FACE OF GLOBAL NOTE] 
 THIS GLOBAL
NOTE IS HELD BY AND REGISTERED IN THE NAME OF THE DEPOSITORY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY), IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (A) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 203 OF THE INDENTURE, (B) THIS GLOBAL
NOTE MAY BE EXCHANGED PURSUANT TO SECTION 203(1) OF THE INDENTURE, (C) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 309 OF THE INDENTURE AND (D) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 CUSIP 98956P AG7 

ZIMMER HOLDINGS, INC. 

$[        ] 4.250% Notes due 2035 

 

			
	$[        ]		No.: R-—

 Zimmer Holdings, Inc., a corporation duly organized and existing under the laws of the State of Delaware
(herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of
[        ] Dollars (or such other lesser or greater amount set forth on the Schedule of Exchanges of Interests in the Global Security attached hereto) on August 15, 2035, and to pay interest thereon from
March 19, 2015 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on February 15 and August 15 each year, commencing on August 15, 2015, at the rate

  

$[        ] 4.250% Note due 2035 

F-1 

 
of 4.250% per annum, until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will,
as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the February 1 or the
August 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date
and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holder of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the
Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 

Payment of the principal of (and premium, if any) and any such interest on this Security will be made at the office or agency of the
Company maintained for that purpose at the Paying Agent Office of the Trustee, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided,
however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  

$[        ] 4.250% Note due 2035 

F-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	ZIMMER HOLDINGS, INC.
		
	By:		  

			Name:		James T. Crines
			Title:		Executive Vice President, Finance and Chief Financial Officer

  

			
	Attest:
	
	  

	Name:		Chad F. Phipps
	Title:		Senior Vice President, General Counsel and Secretary

  

$[        ] 4.250% Note due 2035 

F-3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated: March 19, 2015 
  

			
	Wells Fargo Bank, National Association as Trustee
		
	By:		  

			Authorized Signatory

  

$[        ] 4.250% Note due 2035 

F-4 

 [FORM OF REVERSE OF NOTE] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of November 17, 2009 (the “Original Indenture”), as supplemented by the Third Supplemental Indenture thereto dated as of March 19, 2015 (the “Third Supplemental
Indenture” and together with the Original Indenture, the “Indenture”), between the Company and Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee”, which term includes any successor trustee under
the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which
the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, limited in aggregate principal amount to $500,000,000. Terms defined in the Indenture and not defined herein have the
meanings ascribed thereto in the Indenture. 
 The Securities of this series are subject to redemption, upon not less than 30 days’ and
not more than 60 days’ notice by mail (or with respect to Global Notes, to the extent permitted or required by applicable DTC procedures or regulations, sent electronically), as a whole or from time to time in part, at the election of the
Company (provided, however, that, if the Company shall have elected pursuant to the Indenture to defease the entire Indebtedness of this Security or certain restrictive covenants and Events of Defaults with respect to this Security,
prior to making such election to redeem the Securities it shall have deposited in trust amounts sufficient to pay the redemption price), on any date prior to February 15, 2035 at a redemption price equal to the greater of (i) 100% of the
principal amount of such Securities to be redeemed, plus accrued and unpaid interest thereon to the Redemption Date and (ii) the sum of the present values of the Remaining Scheduled Payments (as defined below) of such Securities to be redeemed,
discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below), plus 25 basis points, plus accrued and unpaid interest thereon to the Redemption Date. In
addition, the Securities of this series are redeemable, in whole or in part from time to time, at the option of the Issuer, at any time on or after February 15, 2035 (six months prior to the 2035 Maturity Date) at a redemption price equal to
100% of the principal amount of the Securities to be redeemed on that Redemption Date, plus accrued and unpaid interest thereon to the Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to
maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term of the series of Securities to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of such Securities. 

  

$[        ] 4.250% Note due 2035 

F-5 

 “Comparable Treasury Price” means, with respect to any Redemption Date,
(1) the average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, (2) if the Company can only obtain less than four such Reference
Treasury Dealer Quotations, the average of all such quotations or (3) if the Company can only obtain one Reference Treasury Dealer Quotation, such quotation. 

“Quotation Agent” means the Reference Treasury Dealer appointed by the Company. 

“Reference Treasury Dealer” means (1) each of Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P.
Morgan Securities LLC or Merrill Lynch, Pierce, Fenner & Smith Incorporated (or their respective affiliates that are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the foregoing
shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer, and (2) another Primary Treasury Dealer selected by
the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any
Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury
Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
 “Remaining Scheduled
Payments” means, with respect to each Security to be redeemed, the remaining scheduled payments of the principal thereof and interest thereon that would be due after the related Redemption Date for such redemption; provided,
however, that, if such Redemption Date is not an Interest Payment Date with respect to such Security, the amount of the next succeeding scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to such
Redemption Date. 
 In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor
for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 “LVB
Merger” means the merger of Owl Merger Sub, Inc. (“Owl Merger Sub”) with and into LVB Acquisition, Inc. (“LVB”) whereby LVB will continue as the surviving corporation, and LVB and Biomet, Inc. (“Biomet”) will
become the Company’s indirect wholly-owned subsidiaries, pursuant to the Merger Agreement. 
 “Merger Agreement” means
the merger agreement, dated as of April 24, 2014, by and among the Company, its subsidiary, Owl Merger Sub, and LVB, the parent of Biomet. 

In the event that the LVB Merger has not been consummated on or prior to April 24, 2015 plus any extension period permitted under the
Merger Agreement (the “Outside Date”) or if, prior to such date, the Merger Agreement is terminated, then the Issuer must redeem all of the Securities of this series on the Special Redemption Date at a redemption price equal to 101% of the
principal amount of such Securities, plus accrued and unpaid interest from March 19, 2015 

  

$[        ] 4.250% Note due 2035 

F-6 

 
to, but excluding, the Special Redemption Date (subject to the right of Holders as of the close of business on an applicable Regular Record Date to receive interest due on the related Interest
Payment Date). The “Special Redemption Date” means the earlier to occur of (1) the Outside Date plus five Business Days and (2) the 30th day (or if such day is not a Business Day, the first Business Day thereafter) following the
termination of the Merger Agreement for any reason. 
 If a Change of Control Repurchase Event occurs, unless the Company has exercised its
right to redeem the Securities of this series pursuant to the Indenture, the Company will be required to make an offer to each Holder of the Securities of this series to repurchase all or any part (in minimum denominations of $2,000 and integral
multiples of $1,000 above that amount) of that Holder’s Securities of this series at a repurchase price in cash equal to 101% of the aggregate principal amount of such Securities repurchased plus any accrued and unpaid interest on such
Securities repurchased to the date of repurchase, in accordance with and pursuant to the terms and conditions set forth in the Indenture. 

The Indenture contains provisions for defeasance at any time of the entire Indebtedness of this Security or certain restrictive covenants and
Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an
Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all
Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be
conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the
right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect
of such Event of Default as Trustee and offered the Trustee indemnity or security reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time
Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, 

  

$[        ] 4.250% Note due 2035 

F-7 

 
for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of
principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No reference herein to the
Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and
rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth,
the transfer of this Security may be registered and this Security may be exchanged as provided in the Indenture. 
 The Securities of this
series are issuable only in registered form without coupons in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Security for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Security which are defined in the
Indenture shall have the meanings assigned to them in the Indenture. 

  

$[        ] 4.250% Note due 2035 

F-8 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
 I or we
assign and transfer this Security to: 
  

	
	  

	(Insert assignee’s social security or tax I.D. no.)
	
	  

	
	  

	
	  

	
	  

	(Print or type assignee’s name, address and zip code)

 and irrevocably appoint
                     as agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 

			
	  

		
	Your Signature:		  

			(Sign exactly as your name appears on the other side of this Security)

  

			
	Your Name:		  

 

			
	Date:		  

 

					
	Signature Guarantee:		  
		*

  

	*	NOTICE: The Signature must be guaranteed by an Institution which is a member of one of the following recognized signature Guarantee Programs: (i) The Securities Transfer Agent Medallion Program (STAMP);
(ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee. 

  

$[        ] 4.250% Note due 2035 

F-9 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY 

The following exchanges of an interest in this Global Security for an interest in another Global Security or for a Definitive Security, or
exchanges of an interest in another Global Security or a Definitive Security for an interest in this Global Security have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease
in Principal Amount of
this Global Security	  	Amount of increase
in Principal Amount of
this Global Security	  	Principal Amount of this
Global Security following
such decrease or increase	  	Signature of authorized
signatory or Trustee or
Securities Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

$[        ] 4.250% Note due 2035 

F-10 

 EXHIBIT G 

FORM OF GLOBAL 2045 NOTE 

[FACE OF GLOBAL NOTE] 
 THIS GLOBAL
NOTE IS HELD BY AND REGISTERED IN THE NAME OF THE DEPOSITORY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY), IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (A) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 203 OF THE INDENTURE, (B) THIS GLOBAL
NOTE MAY BE EXCHANGED PURSUANT TO SECTION 203(1) OF THE INDENTURE, (C) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 309 OF THE INDENTURE AND (D) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 CUSIP 98956P AH5 

ZIMMER HOLDINGS, INC. 

$[        ] 4.450% Notes due 2045 

 

			
	$[        ]		No.: R-—

 Zimmer Holdings, Inc., a corporation duly organized and existing under the laws of the State of Delaware
(herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of
[        ] Dollars (or such other lesser or greater amount set forth on the Schedule of Exchanges of Interests in the Global Security attached hereto) on August 15, 2045, and to pay interest thereon from
March 19, 2015 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on February 15 and August 15 each year, commencing on August 15, 2015, at the rate of
4.450% per annum, until the principal hereof is paid or made available for payment. 

  

$[        ] 4.450% Note due 2045 

G-1 

 
The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or
more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the February 1 or the August 1 (whether or not a Business Day), as the case may be, next preceding such
Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holder of Securities of this series not less than 10 days
prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by
such exchange, all as more fully provided in said Indenture. 
 Payment of the principal of (and premium, if any) and any such interest on
this Security will be made at the office or agency of the Company maintained for that purpose at the Paying Agent Office of the Trustee, in such coin or currency of the United States of America as at the time of payment is legal tender for payment
of public and private debts; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  

$[        ] 4.450% Note due 2045 

G-2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	ZIMMER HOLDINGS, INC.
		
	By:		  

			Name:		James T. Crines
			Title:		Executive Vice President, Finance and Chief Financial Officer

  

			
	Attest:
	
	  

	Name:		Chad F. Phipps
	Title:		Senior Vice President, General Counsel and Secretary

  

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G-3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated: March 19, 2015 
  

			
	Wells Fargo Bank, National Association as Trustee
		
	By:		  

			Authorized Signatory

  

$[        ] 4.450% Note due 2045 

G-4 

 [FORM OF REVERSE OF NOTE] 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of November 17, 2009 (the “Original Indenture”), as supplemented by the Third Supplemental Indenture thereto dated as of March 19, 2015 (the “Third Supplemental
Indenture” and together with the Original Indenture, the “Indenture”), between the Company and Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee”, which term includes any successor trustee under
the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which
the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, limited in aggregate principal amount to $1,250,000,000. Terms defined in the Indenture and not defined herein have the
meanings ascribed thereto in the Indenture. 
 The Securities of this series are subject to redemption, upon not less than 30 days’ and
not more than 60 days’ notice by mail (or with respect to Global Notes, to the extent permitted or required by applicable DTC procedures or regulations, sent electronically), as a whole or from time to time in part, at the election of the
Company (provided, however, that, if the Company shall have elected pursuant to the Indenture to defease the entire Indebtedness of this Security or certain restrictive covenants and Events of Defaults with respect to this Security,
prior to making such election to redeem the Securities it shall have deposited in trust amounts sufficient to pay the redemption price), on any date prior to February 15, 2045 at a redemption price equal to the greater of (i) 100% of the
principal amount of such Securities to be redeemed, plus accrued and unpaid interest thereon to the Redemption Date and (ii) the sum of the present values of the Remaining Scheduled Payments (as defined below) of such Securities to be redeemed,
discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below), plus 30 basis points, plus accrued and unpaid interest thereon to the Redemption Date. In
addition, the Securities of this series are redeemable, in whole or in part from time to time, at the option of the Issuer, at any time on or after February 15, 2045 (six months prior to the 2045 Maturity Date) at a redemption price equal to
100% of the principal amount of the Securities to be redeemed on that Redemption Date, plus accrued and unpaid interest thereon to the Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to
maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term of the series of Securities to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of such Securities. 

  

$[        ] 4.450% Note due 2045 

G-5 

 “Comparable Treasury Price” means, with respect to any Redemption Date,
(1) the average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, (2) if the Company can only obtain less than four such Reference
Treasury Dealer Quotations, the average of all such quotations or (3) if the Company can only obtain one Reference Treasury Dealer Quotation, such quotation. 

“Quotation Agent” means the Reference Treasury Dealer appointed by the Company. 

“Reference Treasury Dealer” means (1) each of Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P.
Morgan Securities LLC or Merrill Lynch, Pierce, Fenner & Smith Incorporated (or their respective affiliates that are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the foregoing
shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer, and (2) another Primary Treasury Dealer selected by
the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any
Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury
Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
 “Remaining Scheduled
Payments” means, with respect to each Security to be redeemed, the remaining scheduled payments of the principal thereof and interest thereon that would be due after the related Redemption Date for such redemption; provided,
however, that, if such Redemption Date is not an Interest Payment Date with respect to such Security, the amount of the next succeeding scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to such
Redemption Date. 
 In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor
for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 “LVB
Merger” means the merger of Owl Merger Sub, Inc. (“Owl Merger Sub”) with and into LVB Acquisition, Inc. (“LVB”) whereby LVB will continue as the surviving corporation, and LVB and Biomet, Inc. (“Biomet”) will
become the Company’s indirect wholly-owned subsidiaries, pursuant to the Merger Agreement. 
 “Merger Agreement” means
the merger agreement, dated as of April 24, 2014, by and among the Company, its subsidiary, Owl Merger Sub, and LVB, the parent of Biomet. 

In the event that the LVB Merger has not been consummated on or prior to April 24, 2015 plus any extension period permitted under the
Merger Agreement (the “Outside Date”) or if, prior to such date, the Merger Agreement is terminated, then the Issuer must redeem all of the Securities of this series on the Special Redemption Date at a redemption price equal to 101% of the
principal amount of such Securities, plus accrued and unpaid interest from March 19, 2015 to, but excluding, the Special Redemption Date (subject to the right of Holders as of the close of 

  

$[        ] 4.450% Note due 2045 

G-6 

 
business on an applicable Regular Record Date to receive interest due on the related Interest Payment Date). The “Special Redemption Date” means the earlier to occur of (1) the
Outside Date plus five Business Days and (2) the 30th day (or if such day is not a Business Day, the first Business Day thereafter) following the termination of the Merger Agreement for any reason. 

If a Change of Control Repurchase Event occurs, unless the Company has exercised its right to redeem the Securities of this series pursuant to
the Indenture, the Company will be required to make an offer to each Holder of the Securities of this series to repurchase all or any part (in minimum denominations of $2,000 and integral multiples of $1,000 above that amount) of that Holder’s
Securities of this series at a repurchase price in cash equal to 101% of the aggregate principal amount of such Securities repurchased plus any accrued and unpaid interest on such Securities repurchased to the date of repurchase, in accordance with
and pursuant to the terms and conditions set forth in the Indenture. 
 The Indenture contains provisions for defeasance at any time of the
entire Indebtedness of this Security or certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series
may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and
the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in
principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer
hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As
provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy
thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity or security reasonably satisfactory to it, and the Trustee shall
not have received from the Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt
of such notice, request and offer of indemnity. The foregoing shall not 

  

$[        ] 4.450% Note due 2045 

G-7 

 
apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed
herein. 
 No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation
of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security may be registered and this
Security may be exchanged as provided in the Indenture. 
 The Securities of this series are issuable only in registered form without
coupons in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof. 
 No service charge shall be made for any
such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  

$[        ] 4.450% Note due 2045 

G-8 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
 I or we
assign and transfer this Security to: 
  

	
	  

	(Insert assignee’s social security or tax I.D. no.)
	
	  

	
	  

	
	  

	
	  

	(Print or type assignee’s name, address and zip code)

 and irrevocably appoint
                     as agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 

			
	  

		
	Your Signature:		  

			(Sign exactly as your name appears on the other side of this Security)

  

			
	Your Name:		  

 

			
	Date:		  

 

					
	Signature Guarantee:		  
		*

  

	*	NOTICE: The Signature must be guaranteed by an Institution which is a member of one of the following recognized signature Guarantee Programs: (i) The Securities Transfer Agent Medallion Program (STAMP);
(ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee. 

  

$[        ] 4.450% Note due 2045 

G-9 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY 

The following exchanges of an interest in this Global Security for an interest in another Global Security or for a Definitive Security, or
exchanges of an interest in another Global Security or a Definitive Security for an interest in this Global Security have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease
in Principal Amount of
this Global Security	  	Amount of increase
in Principal Amount of
this Global Security	  	Principal Amount of this
Global Security following
such decrease or increase	  	Signature of authorized
signatory or Trustee or
Securities Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

$[        ] 4.450% Note due 2045 

G-10

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