Document:

Stock Equivalent Plan for Outside Directors for C.R. Bard, Inc.

 EXHIBIT 10.bb 
  
 STOCK EQUIVALENT PLAN FOR OUTSIDE DIRECTORS OF C. R. BARD, INC. (AS AMENDED AND RESTATED) 
  
 C. R. Bard, Inc. hereby amends and restates the Stock Equivalent Plan for
Outside Directors of C. R. Bard, Inc. (the “Plan”). The Corporation’s objectives in maintaining the Plan are (a) providing a means of attracting and retaining Outside Directors whose abilities, experience and judgment can
contribute to the Corporation’s continued progress and (b) retaining the Outside Director’s continuing counsel following retirement from the Board of Directors. 
  
 SECTION 1.    DEFINITIONS. 
  
 Except as otherwise specified, or as the context may otherwise require, the following terms have the meanings indicated
below for all purposes of the Plan: 
  
 1.01    “Account” shall mean a book account maintained by the Committee to disclose the interest of each Participant under the Plan. 
  
 1.02    “Annual Retainer” shall mean the annual amount, exclusive of any Meeting Fees,
received by an Outside Director as may from time to time be set by the Board of Directors. 
  
 1.03    “Beneficiary” shall mean the person (or persons) who are designated by the Director to receive benefits payable upon the Director’s death under this Plan. Such
designation shall be made by the Director on a form prescribed by the Corporation. The Director may at any time change or revoke such designation by written notice to the Corporation. If the Director has no living designated beneficiary on the date
of Director’s death, then the benefits otherwise payable to the designated beneficiary under this Agreement shall be paid to the Director’s estate. 
  
 1.04    “Board of Directors” shall mean the Board of Directors of the Corporation. 
  
 1.05    “Cause” shall mean any act or
omission (a) in breach of the Outside Director’s duty of loyalty to the Corporation or its Corporate Stockholders, (b) not in good faith or involving a knowing violation of law, or (c) resulting in receipt by the Outside Director
of an improper personal benefit. 
  
 1.06    “Change of Control” shall mean a change of control of the nature that would be required to be reported on the Current Report on Form 8-K, pursuant to Section 13 or 15(d) of the Act (other
than such a change of control involving a Permitted Holder); provided, that, without limitation, a Change of Control shall be deemed to have occurred if: 
  
     (a)    any “person” (other than a Permitted Holder) shall become the “beneficial owner”,
as those terms are defined below, of capital stock of the Corporation, the voting power of which constitutes 20% or more of the general voting power of all of the Corporation’s outstanding capital stock; or 
  
     (b)    individuals who, as of
April 21, 2005, constituted the Board (the “Incumbent Board”) cease for any reasons to constitute at least a majority of the Board; provided, that any person becoming a Director subsequent to April 21, 2005, whose
election, or nomination for election by the Corporation’s shareholders, was approved by a vote of at least three quarters of the Directors comprising the Incumbent Board (other than an election or nomination of an individual whose initial
assumption of office is in connection with an actual or threatened election contest relating to the election of the Directors of the Corporation, which is or would be subject to Rule 14a-11 of the Regulation 14A promulgated under the Act) shall be,
for purposes of the Plan, considered as though such person were a member of the Incumbent Board. 

     For purposes of the definition of Change of Control, the following definitions
shall be applicable: 
  
     (c)    The term “person” shall mean any individual, group, corporation or other entity. 
  
     (d)    For purposes of this definition only, any person shall be deemed to be the “beneficial owner”
of any shares of capital stock of the Corporation: 
  
   (i) which that person owns directly, whether or not of record, or 
  
   (ii) which that person has the right to acquire pursuant to any agreement or understanding or upon exercise of conversion rights, warrants, or options, or otherwise, or 
  
   (iii) which are beneficially owned, directly or indirectly
(including shares deemed owned through application of clause (ii) above), by an “affiliate” or “associate” (as defined in the rules of the Securities and Exchange Commission under the Securities Act of 1933, as amended) of
that person, or 
  
   (iv) which are beneficially
owned, directly or indirectly (including shares deemed owned through application of clause (ii) above), by any other person with which that person or such person’s “affiliate” or “associate” (defined as aforesaid) has
any agreement, arrangement or understanding for the purpose of acquiring, holding, voting or disposing of capital stock of the Corporation. 
  
     (e)    The outstanding shares of capital stock of the Corporation shall include shares deemed owned through
application of clauses (d)(ii), (iii) and (iv), above, but shall not include any other shares which may be issuable pursuant to any agreement or upon exercise of conversion rights, warrants or options, or otherwise, but which are not actually
outstanding. 
  
 1.07    “Committee” shall mean the Governance Committee of the Board of Directors or such other committee as may be designated by the Board. 
  
 1.08    “Corporation Stock” shall mean the common stock, par value $.25 per share, of
the Corporation. 
  
 1.09    “Effective Date” shall mean June 8, 2005. 
  
 1.10    “Fair Market Value” shall mean on a given date, (a) if there should be a public market for Corporation
Stock on such date, the arithmetic mean of the high and low prices of Corporation Stock as reported on such date on the composite tape of the principal national securities exchange on which shares of Corporation Stock are listed or admitted to
trading, or, if Corporation Stock is not listed or admitted on any national securities exchange, the arithmetic mean of the per share closing bid price and per share closing asked price of Corporation Stock on such date as quoted on the National
Association of Securities Dealers Automated Quotation System (or such market in which such prices are regularly quoted) (the “NASDAQ”), or, if no sale of shares of Corporation Stock shall have been reported on the composite tape of any
national securities exchange or quoted on the NASDAQ on such date, then the immediately preceding date on which sales of shares Corporation Stock have been so reported or quoted shall be used, and (b) if there should not be a public market for
shares of Corporation Stock on such date, the Fair Market Value shall be the value established by the Committee in good faith. 
  
 1.11    “Meeting Fee” shall mean the fee paid to an Outside Director for attendance at each meeting of the Board of
Directors and each meeting of any Committee of the Board of Directors, but shall not include the additional fee paid to a Committee Chairman. 
  
 1.12    “Outside Director” shall mean a member of the Board of Directors who is not also an employee of the
Corporation. 
  

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 1.13    “Outside Director Fee” shall mean an amount equal to the
amount of the Annual Retainer received by an Outside Director at the time his or her Service terminates, plus 12 times the amount of the Meeting Fee received by the Outside Director at the time his or her Service terminates. 
  
 1.14    “Participant” shall mean an
Outside Director who has fulfilled the eligibility requirements of Section 2 and whose distributable interest under the Plan has not been fully paid, forfeited or cancelled. 
  
 1.15    “Plan” shall mean the Stock Equivalent Plan for Outside Directors of C.R. Bard,
Inc., as amended and restated. 
  
 1.16    “Pension Plan” shall mean the Employees’ Retirement Plan of C. R. Bard, Inc., as amended and restated. 
  
 1.17    “Service” shall mean the number of years that the Outside Director serves on
the Board of Directors, commencing on the date of his or her election as an Outside Director and ending on the date of his or her termination as an Outside Director. With regard to an Outside Director who is a former Chief Executive Officer of the
Corporation, “Service” means the number of years served as a member of the Board of Directors, commencing on the date of his election as a Director and ending on his termination as an Outside Director. For purposes of determining Service,
a partial year shall be rounded up to a full year. 
  
 1.18    “Unit” shall mean an unfunded promise to pay an amount of cash equal to one share of Corporation Stock in accordance with the terms of this Plan. 
  
 SECTION 2.    ELIGIBILITY. 
  
 Each Outside Director who was a Participant on the Effective Date shall
continue to be a Participant in the Plan. An individual who becomes an Outside Director after the Effective Date shall become a Participant on the date his or her Service as an Outside Director commences. Except as otherwise provided by the
Committee, no Outside Director (other than a former Chief Executive Officer of the Corporation) shall be a Participant if such Outside Director is a participant or former participant under the Pension Plan. 
  
 SECTION 3.    GRANT OF UNITS. 
  
 3.01    Annual Unit Credits. Effective
December 31st of each year, the Committee shall grant each Participant a number of Units determined by:
(a) adding (i) the Annual Retainer in effect on such date plus (ii) the Meeting Fee on such date multiplied by 12; then (b) dividing by the Fair Market Value of Corporation Stock on the date of grant of such Units; provided,
however, that, notwithstanding any other provision hereof, in the event that the Board of Directors terminates the Plan effective as of a date other than a December 31st, the grant of Units for the year of the Plan termination shall be prorated based on the portion of the calendar year that has elapsed through the effective
date of the Plan termination. 
  
 3.02    Participant Accounts. The Committee shall maintain an Account for each Participant in which Units shall be entered when granted. The Committee shall furnish annually to each Participant a statement of his
or her Account. A Participant shall not have any dividend or voting rights with respect to Units credited to his or her Account. 
  
 3.03    Grandfathered Benefits. Each Participant who participated in the Retirement Plan for Outside Directors of C. R. Bard,
Inc. (the “Prior Plan”) on December 31, 1996 had additional amounts credited to his or her Account as elected, in writing by him or her prior to January 15, 1997. 
  

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 SECTION 4.    VESTING. 
  
 4.01    In General. A Participant shall be vested
in the balance in his Account based on his or her Service at termination as an Outside Director according to the following schedule: 
  

			
	 Service at Termination

	  	Vested Percentage

	 Less than 5 years
	  	0%
	 5 years or more
	  	100%

  
 Any balance in a
Participant’s Account which is not vested on the date of his or her termination of Service shall be forfeited. 
  
 4.02    Acceleration of Vesting. Notwithstanding the foregoing provisions of this section, each Participant shall be 100%
vested in the balance in his or her Account upon the effective date of a Change of Control. 
  
 SECTION 5.    AMOUNT AND FORM OF BENEFITS. 
  
 5.01    Determination of Distributable Interest. If a Participant elects to receive quarterly
installment payments in accordance with Section 6 below, a Participant shall receive a quarterly installment benefit (commencing on the date, and for the period of time set forth in Section 6 below) in an amount equal to the number of
vested Units in the Participant’s Account multiplied by the average closing price of the Corporation Stock as listed on the New York Stock Exchange during the six-month period immediately preceding his or her termination date and divided by
four times the number of years of the Participant’s Service (each a “Quarterly Installment”). If a Participant does not elect to receive quarterly installments in accordance with Section 6 below, he or she shall receive an amount
equal to the present value of all of the Quarterly Installments that he or she would have received had he or she elected quarterly installments, discounted using the 30-year treasury rate as in effect on the date of the Participant’s
termination of service as a Director. 
  
 5.02    Form of Benefit. All payments under the Plan shall be made in cash. 
  
 SECTION 6.    TIME OF PAYMENTS. 
  
 6.01    Payment of Benefits. Unless a Participant elects quarterly installment payments pursuant
to Section 6.02 or 6.03 below, payment of the Participant’s distributable interest shall be paid in a lump sum payment as of the first day of the calendar quarter next following the later of (a) the date the Participant terminates
service as a Director or (b) the date the Participant attains age 55. 
  
 6.02    Deferred Payment of Benefits. A Participant may make an irrevocable election to receive distributions of the Participant’s interest under the Plan in equal quarterly
installments for a period of years equal to the number of years of the Participant’s Service by filing an election with the Committee. If such election is made prior to the later of the 30th day after the Participant commences participation in the Plan or January 1, 2006, such installment payments shall commence on the first day of the
calendar quarter next following the later of (a) the date the Participant terminates service as a Director or (b) the date the Participant attains age 55. 
  
 6.03    Subsequent Deferral Elections. If the election described in Section 6.02 is made
after the date on which the grant is made, installment payments shall commence as of the first day of the calendar quarter next following the later of (a) five years after the Participant terminates Service or (b) the date the Participant
attains age 60. A Participant’s subsequent election to receive benefits in quarterly installments must be made at least twelve months prior to the later of the Participant’s termination of Service or his reaching age 55 in order to be
effective. An election by the Participant made within the twelve month period prior to the Participant’s termination of service shall be null and void and the Participant’s benefits under the Plan shall be distributed in a lump sum as
described in Section 6.01. 
  

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 SECTION 7.    INCREASES IN OUTSIDE DIRECTOR FEES.

  
 If the Annual Retainer and/or Meeting Fees are increased to an
amount higher than that in effect as of the date an Outside Director ceased his or her Service, the Committee may, in its sole discretion, prospectively increase the amount of benefits under the Plan to be paid, or then being paid, to a retired
Outside Director to reflect the increase in the Annual Retainer and/or Meeting Fee. 
  
 SECTION 8.    DEATH BENEFITS. 
  
 8.01    Post-Termination. If a Participant dies on or after the date payment of the
Participant’s distributable interest under the Plan is made or commences, the Participant’s Beneficiary shall receive the Participant’s remaining distributable interest under the Plan in the manner determined under Section 6 and
any election of the Participant in effect as of the Participant’s date of death. 
  
 8.02    Pre-Termination. If a Participant dies prior to the date payment of the Participant’s distributable interest under the Plan is made or commences, the Participant’s
Beneficiary shall receive the payment or payments, if any, the Participant would have received had the Participant terminated Service on the date of the Participant’s death. 
  
 SECTION 9.    FORFEITURE OF BENEFITS. 
  
 9.01    Removal for Cause. If a Participant is
removed as an Outside Director for Cause, as determined by the Board of Directors, the Participant shall forfeit all benefits and rights under the Plan. 
  
 9.02    Obligations of Retired Outside Directors. A Participant shall forfeit any unpaid benefits under the Plan if after the
Participant ceases to provide Services to the Corporation, the Participant (a) fails to remains available to provide advice and counsel to the Corporation or (b) engages in business activity or other conduct which the Board of Directors
determines in its sole and absolute discretion is competitive to the Corporation’s interests following the Participant’s termination of Service; provided, however, that the obligations of this section do not apply after the effective date
of a Change of Control or after a Participant’s death. 
  
 SECTION 10.    ADJUSTMENTS TO UNITS. 
  
 In the event of (a) a reorganization, recapitalization, stock split, stock dividend, combination of Corporate Stocks, rights offering, merger,
consolidation or other like change in the corporate structure or capital stock of the Corporation, (b) changes in generally accepted principles of accounting, (c) an extraordinary, nonrecurring event, such as a merger or sale or purchase
of assets, resulting in an adjustment to the net book value of a Corporate Stock of Corporation Stock which, in the opinion of the Committee, inequitably affects the value of a Unit, or (d) a Change of Control, the Committee shall have the
power and authority to make such adjustment, as it may deem appropriate, in the number of Units then credited to a Participant’s Account or in the net book value in order to preserve for each Participant rights substantially proportionate to
such Participant’s rights existing prior to such event, provided however that in the event of a Change of Control in no event shall the net book value be an amount less than the net book value immediately preceding the Change of Control.

  
 SECTION 11.    ADMINISTRATION. 
  
 The Plan shall be administered by the Committee, which may delegate its duties and powers in whole or in part to any subcommittee thereof; it is expected that such subcommittee shall consist solely of at least two individuals who are
intended to qualify as “Non-Employee Directors” within the meaning of Rule 16b-3 under the Securities Exchange Act of 1934 (or any successor rule thereto) and “outside directors” within the meaning of Section 162(m) of the
Code; provided, however, that the failure of the subcommittee to be so constituted shall not 

  

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impair the validity of any benefit made by such subcommittee. Subject to the provisions of the Plan, the Committee shall have exclusive power to determine
the amount of, or method of determining, the benefit to be paid to the Participants. The Committee is authorized to interpret the Plan, to establish, amend or rescind any rules and regulations relating to the Plan and to make any other
determinations that it deems necessary or desirable for the administration of the Plan. The Committee may correct any defect or supply any omission or reconcile any inconsistency in the Plan in the manner and to the extent the Committee deems
necessary or desirable. Any decision of the Committee in the interpretation and administration of the Plan, as described herein, shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned
(including, but not limited to, Participants and their beneficiaries or successors). The Committee shall have the full power and authority, consistent with the provisions of the Plan, to establish the terms and conditions of any benefit and to waive
any such terms or conditions at any time. The Committee shall require payment of any amount it may determine to be necessary to withhold for federal, state, local or other taxes as a result of benefit paid under this Plan. 
  
 SECTION 12.    UNFUNDED PLAN. 
  
 12.01    Any benefit under this Plan is intended to
constitute an “unfunded” deferred compensation benefit for Outside Directors and as such, to be exempt from ERISA. 
  
 12.02    Any amount due and payable pursuant to the terms of the Plan shall be paid out of the general assets of the Corporation. The
Participants and any Beneficiaries shall not have an interest in any specific asset of the Corporation or any specific asset held hereunder as a result of this Plan. The Corporation shall have no obligation to set aside any funds for the purpose of
making any benefit payments under this Plan. Nothing contained herein shall give the Participant or any Beneficiaries any rights that are greater than those of an unsecured creditor of the Corporation with respect to any unpaid benefits under this
Plan. No action taken pursuant to the terms of this Plan shall be construed to create a funded arrangement, a plan asset, or fiduciary relationship among the Corporation, its designee, and the Participants or any Beneficiaries. 
  
 SECTION 13.    AMENDMENT AND TERMINATION. 
  
 The Board of Directors reserves the right, at any time and from time to time,
to alter, amend or terminate this Plan in whole or in part; provided, however, that no such action may reduce or eliminate the vested Account balance of any Participant. 
  
 SECTION 14.    DISPUTE RESOLUTION. 
  
 14.01    Arbitration. 
  
       (a)    The parties agree that any dispute or claim concerning this
Plan or the terms thereof, including whether such dispute or claim is arbitrable, will be settled by arbitration. The arbitration proceedings shall be conducted under the Commercial Arbitration Rules of the American Arbitration Association in effect
at the time a demand for arbitration under the rules is made. Either party shall make a demand for arbitration by giving a demand in writing to the other party. 
  

      (b)    The parties may agree upon one arbitrator, but in the event that they cannot agree,
there shall be three, one named in writing by each of the parties and a third chosen by the two arbitrators. Should either party refuse or neglect to join in the appointment of the arbitrator(s) or to furnish the arbitrator(s) with any papers or
information demanded, the arbitrator(s) are empowered by both parties to proceed ex parte. The arbitrators shall be persons who have a minimum of five years’ experience in resolving pension trust disputes during the ten years immediately
preceding the dispute. 
  

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       (c)    Arbitration shall take place in the
Borough of New Providence, State of New Jersey, and the hearing before the arbitrator(s) of the matter to be arbitrated shall be at the time and place within said Borough as is selected by the arbitrator(s). 
  
       (d)    At the
hearing, any relevant evidence may be presented by either party, and the formal rules of evidence and discovery applicable to judicial proceedings shall not be applicable. Evidence may be admitted or excluded in. the sole discretion of the
arbitrator(s). Said arbitrator(s) shall hear and determine the matter and shall execute and acknowledge their binding award in writing and cause a copy thereof to be delivered to each of the parties. The decision of the arbitrator(s) including
determination of amount of any damages suffered shall be exclusive, final and binding upon both parties, their heirs, executors, administrators, successors, and assigns. 
  
       (e)    A judgment confirming the award of the arbitrator(s) may be
rendered by any court having jurisdiction; or such court may vacate, modify, or correct the award in accordance with the prevailing laws of the State of New Jersey. To the extent that any language contained in this arbitration clause shall be
inconsistent with any provision of NJS 2A:24-1 et seq. or any provision of the Commercial Arbitration Rules referred to herein, it is the intention of the parties hereto that the subsequent inconsistent provision of this clause shall control.

  
       (f)    Notwithstanding anything contrary in this Plan, this section is in no way an attempt to limit discovery which shall be at the sole discretion and prior approval of the
arbitrator(s) and his (their) rulings on discovery shall be binding; however, he (they) is (are) to be guided by the most expeditious manner in resolving disputes under this Plan. 
  
 14.02    Costs and Attorney Fees. 
  
 The costs of such arbitration shall be borne by the Corporation. In the event that the Outside Director shall be the
prevailing party in any arbitration or any action at law or in equity to enforce an arbitration award, the Corporation shall pay the Outside Director all costs, expenses and reasonable attorneys’ fees incurred therein by such Outside Director
including, without limitation, such costs, expenses and fees on any appeals. 
  
 SECTION 15.    TRANSFERABILITY. 
  
 Neither the Outside Director nor the Outside Director’s Beneficiary or estate shall have any right to commute, sell, assign, transfer or otherwise convey the rights to receive any payment hereunder, which
payments and all the rights thereto are expressly declared to be non-assignable and non-transferable, and in the event of any attempted assignment or transfer, the Corporation shall have no further liability hereunder. No benefit payment shall, in
any manner be subject to garnishment, attachment, execution, levy, debts, contracts, liabilities, engagements or torts of the Outside Director or the Outside Director’s designated beneficiary or estate. 
  
 SECTION 16.    ASSIGNMENT. 
  
 Except as herein provided, this Plan shall be binding upon the parties
hereto, their heirs, executors, administrators, successors (including but not limited to successors resulting from any corporate merger or acquisition) or assigns. 
  
 SECTION 17.    NO RIGHTS TO CONTINUED DIRECTORSHIP. 
  
 Nothing in this Plan shall confer upon a Outside Director any right to
continue to service as a member of the Board of Directors or any committee of the Board of Directors, to be retained by the Corporation as a consultant or to be employed by the Corporation as an employee and shall not interfere in any way with the
right of the Corporation to terminate the Outside Director’s service as a member of the Board of Directors or any committee of the Board of Directors as set forth in the by-laws of the Corporation or the Outside Director’s consulting or
employment relationship with the Corporation, if any, at any time. 
  

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 SECTION 18.    NOTICES.  
  
 Any notice required or permitted under this Plan shall be deemed given when
delivered personally, or when deposited in a United States Post Office as registered mail, postage prepaid, addressed, as appropriate, either to the Outside Director at his or her address hereinabove set forth or such other address as he or she may
designate in writing to the Corporation, or to the Corporation, Attention: Secretary, at 730 Central Avenue, Murray Hill, New Jersey 07974, or such other address as the Corporation may designate in writing to the Outside Director 
  
 SECTION 19.    GOVERNING
LAW. 
  
 This Plan shall be governed by and construed
according to the laws of the State of New Jersey, determined without regard to its conflicts of law rules. 
  

 8Form of Deferred Compensation Contract

 EXHIBIT 10.bc 
  
 DEFERRED COMPENSATION CONTRACT DEFERRAL OF DIRECTORS’ FEES C. R. BARD, INC. (AS AMENDED AND RESTATED)

  
 THIS AGREEMENT made this
                 day of                 , 2005, by and between C. R.
BARD, INC., a New Jersey corporation (the “Corporation”) and                  residing at
                , (the “Director”). 
  
 WITNESSETH: 
  
 WHEREAS, the Corporation and Director previously entered into an agreement dated
                , which allowed the Director to defer receipt of payment compensation for services rendered to the Corporation. 
  
 WHEREAS, as a result of the American Jobs Creation Act, the
Corporation desires to enter into this amended and restated Agreement. 
  
 NOW, THEREFORE, in consideration of the premises, and in consideration of the mutual covenants and agreements herein contained, the Corporation and the Director agree as follows: 
  
 SECTION 1.    DEFINITIONS. 
  
 1.01    “Beneficiary” means the person
(or persons) who are designated by the Director to receive benefits payable upon the Director’s death under this Agreement. Such designation shall be made by the Director on a form prescribed by the Corporation. The Director may at any time
change or revoke such designation by written notice to the Corporation. If the Director has no living designated beneficiary on the date of Director’s death, then the benefits otherwise payable to the designated beneficiary under this Agreement
shall be paid to the Director’s estate. 
  
 1.02    “Change of Control” shall mean a change of control of the nature that would be required to be reported on the Current Report on Form 8-K as in effect on the date hereof pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934, provided that, without limitation, a “Change of Control” shall be deemed to have occurred if (a) any person, as defined herein, shall become the beneficial owner at any
time hereafter of capital stock of the Corporation, the voting power of which constitutes 20% or more of the general voting power of all of the Corporation’s outstanding capital or (b) individuals who, as of the date hereof, constitute the
Board of Directors of the Corporation (the “Board” generally and as of the date hereof the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming a Director
subsequent to the date hereof whose election, or nomination for election by the Corporation’s shareholders, was approved by a vote of at least three quarters of the Directors comprising the Incumbent Board (other than an election or nomination
of an individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the Directors of the Corporation, as such terms are used in Rule 14a 11 of Regulation 14A promulgated
under the Exchange Act) shall be, for purposes of this Agreement, considered as though such person were a member of the Incumbent Board. No sale to underwriters or private placement of its capital stock by the Corporation, nor any acquisition by the
Corporation, through merger, purchase of assets or otherwise, effected in whole or in part by issuance or reissuance of shares of its capital stock, shall constitute a Change of Control. For purposes of the definition of “Change of
Control”, the following definitions shall be applicable: 
  
 (a) The term “person” shall mean any individual, group, corporation or other entity. 
  
 (b) Any person shall be deemed to be the beneficial owner of any shares of capital stock of the Corporation: 
  
 (A) which that person owns directly, whether or not of record, or

  
 (B) which that person has the right to acquire pursuant to
any agreement or understanding or upon exercise of conversion rights, warrants, or options, or otherwise, or 

 (C) which are beneficially owned, directly or indirectly (including shares deemed owned through
application of clause (B) above), by an “affiliate” or “associate” (as defined in the rules of the Securities and Exchange Commission under the Securities Act of 1933) of that person or 
  
 (D) which are beneficially owned, directly or indirectly (including shares
deemed owned through application of clause (B) above), by an other person with which that person or his “affiliate” or “associate” (defined as aforesaid) has any agreement, arrangement or understanding for the purpose of
acquiring, holding, voting or disposing of capital stock of the Corporation, 
  
 (c) The outstanding shares of capital stock of the Corporation shall include shares deemed owned through application of clauses (b) (B), (C) and (D), above, but shall not include any other shares which may
be issuable pursuant to any agreement or upon exercise of conversion rights, warrants or options, or otherwise, but which are not actually outstanding. 
  
 1.03    “Closing Price” shall mean as of any given date the composite closing price on the New York Stock Exchange
for such date. 
  
 1.04    “Code” shall mean the Internal Revenue Code of 1986, as amended (or any successor statute thereto). 
  
 1.05    “Committee” shall mean the Governance Committee of the Board or such other committee as may be designated by
the Board. 
  
 1.06    “Deferred
Account” shall mean the book account maintained by the Corporation to record the Director’s Deferred Amounts and other amounts credited by the Corporation. As used herein, the term Deferred Account includes both the Deferred Stock
Account and the Deferred Interest Account. 
  
 1.07    “Deferred Amount” shall mean the amount of fees that the Director elects to defer pursuant to Section 2 below. 
  
 1.08    “Deferred Interest Account” shall mean the Deferred Account described in
Section 2.02(b). 
  
 1.09    “Deferred Stock Account” shall mean the Deferred Account described in Section 2.02(a). 
  
 1.10    “Payment Date” shall mean the first day of the calendar month next following the Termination Date.

  
 1.11    “Shares” shall
mean shares of common stock, par value $.25, of the Corporation. 
  
 1.12    “Share Units” shall mean the number of Shares deemed to be credited to the Director’s Account for recordkeeping purposes only. Share Units represent an obligation to pay a cash benefit based
on the Closing Price of Shares as of the applicable date of distribution. 
  
 1.13    “Term” shall mean the date of election or appointment of the Director and expiring on the date on which occurs the termination of the Director’s service by reason of
expiration of term or the date of resignation, removal or death of the Director whichever shall occur first. 
  
 1.14    “Termination Date” shall mean the date that the Director ceases to be a member of the Board. 
  
 SECTION 2.    ELECTION TO DEFER DIRECTOR’S FEES.

  
 2.01    Election.    Prior to the thirty-first day of December of each calendar year during the Term, the Director may instruct the Corporation to defer the Director’s fees otherwise
payable to Director for services rendered in the following calendar year. The Director shall by written notice designate which Deferred Account (the Deferred Interest Account or the Deferred Stock Account) or Deferred Accounts that the Corporation
should establish for said Director and the percentage (but not less than 25%) of the Deferred Amount to be credited to each such Deferred Account as set forth below. 
  

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 2.02    Deferred Accounts. 
  
 (a) The portion of the Deferred Amount designated to be credited to the
Deferred Stock Account shall be credited to the Director’s Deferred Stock Account established on the books of the Corporation for this purpose. The amount credited to the Director’s Deferred Stock Account at the end of each quarter during
the Term shall immediately be converted to Share Units by dividing the Deferred Amount by the Closing Price on the date that the Director would have received such fees and rounding the result to the nearest hundredth of a share. When the Corporation
pays a dividend on its Shares, until the Director’s Deferred Stock Account has been fully distributed, the Director’s Deferred Account shall be credited with an additional number of Share Units equal to the number Shares (to the nearest
hundredth of a share) which could have been purchased based upon the Closing Price of a Share with the amount of dividends that would have been received on the number of Shares related to the Share Units credited to the Director’s Deferred
Stock Account. In the event of any stock dividend, stock split, combination of shares, recapitalization or the like of the common stock of the Corporation, the Corporation shall make appropriate adjustment in the number of Share Units credited to
the Director’s Deferred Stock Account. 
  
 (b) The portion of
the Deferred Amount designated to be credited to the Deferred Interest Account shall be credited to the Director’s Deferred Interest Account established on the books of the Corporation for this purpose. At the end of each calendar quarter until
the Director’s Deferred Interest Account has been fully distributed, the Director’s Deferred Interest Account shall be credited with (i) simple interest equal to the average percentage of interest earned by the Corporation on its
marketable securities portfolio during the preceding three (3) months, or (ii) if the Corporation fails to have a marketable securities portfolio, the prime rate as of the end of each calendar quarter as published in the Wall Street
Journal. 
  
 SECTION 3.    PAYMENT OF BENEFITS.

  
 3.01    Default
Distribution.    Unless a Participant elects annual installment payments pursuant to Section 3.02, payment of the amount attributable to the Participant’s Deferred Accounts shall be paid in a lump sum payment on the
Payment Date. 
  
 3.02    Deferred
Distribution.    A Participant may make an irrevocable election to receive benefits under the Plan in equal annual installments for a period of not greater than ten (10) years. If such election is made before the later
of January 1, 2006 or the 30th day following the Participant’s entry into this Agreement, such benefits
shall commence as of the Payment Date. 
  
 3.03    Subsequent Deferrals.    If the election described in Section 3.02 is made after the later of January 1, 2006 or the 30th day following the Participant’s entry into this Agreement, such benefits shall commence with the first day of the month next following the fifth
anniversary of the Payment Date. A Participant’s subsequent election to receive benefits in annual installments must be made at least twelve months prior to the expiration of the Participant’s Term. An election by the Participant made
within the twelve month period prior to the Participant’s Termination Date shall be null and void and the Participant’s benefits under the Plan shall be distributed in a lump sum. 
  
 3.04    Payment upon Change of
Control.    Upon a Change of Control, all amounts due Director shall be paid in a lump sum on the Payment Date. 
  
 SECTION 4.    DEATH BENEFITS. 
  
 4.01    If Director dies on or after the date payment of Director’s distributable interest under the Agreement is made or
commences, the Director’s Beneficiary shall receive the Director’s remaining distributable interest under the Agreement in the manner determined under Section 3 and any election of the Director in effect as of the Director’s date
of death. 
  

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 4.02    If a Director dies prior to the date payment of the Director’s
distributable interest under the Agreement is made or commences, the Director’s Beneficiary shall receive the payment or payments, if any, the Director would have received had the Director terminated service as on the date of the
Director’s death. 
  
 SECTION 5.    ADMINISTRATION. 
  
 The Agreement shall be administered by the Committee, which may delegate its duties and powers in whole or in part to any subcommittee thereof; it is expected that such subcommittee shall consist solely of at least two individuals who are
intended to qualify as “Non-Employee Directors” within the meaning of Rule 16b-3 under the Securities Exchange Act of 1934 (or any successor rule thereto) and “outside directors” within the meaning of Section 162(m) of the
Code; provided, however, that the failure of the subcommittee to be so constituted shall not impair the validity of any benefit made by such subcommittee. Subject to the provisions of the Agreement, the Committee shall have exclusive power to
determine the amount of, or method of determining, the benefit to be paid to the Directors. The Committee is authorized to interpret the Agreement, to establish, amend or rescind any rules and regulations relating to the Agreement and to make any
other determinations that it deems necessary or desirable for the administration of the Agreement. The Committee may correct any defect or supply any omission or reconcile any inconsistency in the Agreement in the manner and to the extent the
Committee deems necessary or desirable. Any decision of the Committee in the interpretation and administration of the Agreement, as described herein, shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all
parties concerned (including, but not limited to, the Directors and his or her beneficiaries or successors). The Committee shall have the full power and authority, consistent with the provisions of the Agreement, to establish the terms and
conditions of any benefit and to waive any such terms or conditions at any time. The Committee shall require payment of any amount it may determine to be necessary to withhold for federal, state, local or other taxes as a result of benefit paid
under this Agreement. 
  
 SECTION 6.    UNFUNDED
AGREEMENT. 
  
 6.01    Any benefit under
this Agreement is intended to constitute an “unfunded” deferred compensation benefit for Directors and as such, to be exempt from ERISA. 
  
 6.02    Any amount due and payable pursuant to the terms of the Agreement shall be paid out of the general assets of the Corporation.
The Directors and any Beneficiaries shall not have an interest in any specific asset of the Corporation or any specific asset held hereunder as a result of this Agreement. The Corporation shall have no obligation to set aside any funds for the
purpose of making any benefit payments under this Agreement. Nothing contained herein shall give the Director or any Beneficiaries any rights that are greater than those of an unsecured creditor of the Corporation with respect to any unpaid benefits
under this Agreement. No action taken pursuant to the terms of this Agreement shall be construed to create a funded arrangement, Agreement asset, or fiduciary relationship among the Corporation, its designee, and the Directors or any Beneficiaries.

  
 SECTION 7.    AMENDMENT AND TERMINATION.

  
 The Corporation reserves the right, at any time and from
time to time, to alter, amend or terminate this Agreement in whole or in part; provided, however, that no such action may reduce or eliminate the Participant’s Deferred Amount and other amounts credited by the Corporation in the Deferred
Account as of the date of the act by the Corporation. 
  
 SECTION 8.    DISPUTE RESOLUTION. 
  
 8.01    Arbitration. 
  
 (a) The parties agree that any dispute or claim concerning this Agreement or the terms thereof, including whether such dispute or claim is arbitrable, will be settled by arbitration. The arbitration proceedings shall
be conducted under the Commercial Arbitration Rules of the American Arbitration Association in effect at the time a demand for arbitration under the rules is made. Either party shall make a demand for arbitration by giving a demand in writing to the
other party. 
  

 4 

 (b) The parties may agree upon one arbitrator, but in the event that they cannot agree, there shall be
three, one named in writing by each of the parties and a third chosen by the two arbitrators. Should either party refuse or neglect to join in the appointment of the arbitrator(s) or to furnish the arbitrator(s) with any papers or information
demanded, the arbitrator(s) are empowered by both parties to proceed ex parte. The arbitrators shall be persons who have a minimum of five years’ experience in resolving pension trust disputes during the ten years immediately preceding the
dispute. 
  
 (c) Arbitration shall take place in the Borough of
New Providence, State of New Jersey, and the hearing before the arbitrator(s) of the matter to be arbitrated shall be at the time and place within said Borough as is selected by the arbitrator(s). 
  
 (d) At the hearing, any relevant evidence may be presented by either party,
and the formal rules of evidence and discovery applicable to judicial proceedings shall not be applicable. Evidence may be admitted or excluded in. the sole discretion of the arbitrator(s). Said arbitrator(s) shall hear and determine the matter and
shall execute and acknowledge their binding award in writing and cause a copy thereof to be delivered to each of the parties. The decision of the arbitrator(s) including determination of amount of any damages suffered shall be exclusive, final and
binding upon both parties, their heirs, executors, administrators, successors, and assigns. 
  
 (e) A judgment confirming the award of the arbitrator(s) may be rendered by any court having jurisdiction; or such court may vacate, modify, or correct the award in accordance with the prevailing laws of the State of
New Jersey. To the extent that any language contained in this arbitration clause shall be inconsistent with any provision of NJS 2A:24-1 et seq. or any provision of the Commercial Arbitration Rules referred to herein, it is the intention of the
parties hereto that the subsequent inconsistent provision of this clause shall control. 
  
 (f) Notwithstanding anything contrary in this Agreement, this section is in no way an attempt to limit discovery which shall be at the sole discretion and prior approval of the arbitrator(s) and his (their) rulings on
discovery shall be binding; however, he (they) is (are) to be guided by the most expeditious manner in resolving disputes under this Agreement. 
  
 8.02    Costs & Attorney Fees. 
  
 The costs of such arbitration shall be borne by the Corporation. In the event that the Director shall be the prevailing
party in any arbitration or any action at law or in equity to enforce an arbitration award, the Company shall pay the Director all costs, expenses and reasonable attorneys’ fees incurred therein by such Director including, without limitation,
such costs, expenses and fees on any appeals. 
  
 SECTION 9.    TRANSFERABILITY. 
  
 Neither the Director nor the Director’s Beneficiary or estate shall have any right to commute, sell, assign, transfer or otherwise convey the rights to receive any payment hereunder, which payments and all the rights thereto are
expressly declared to be non-assignable and non-transferable, and in the event of any attempted assignment or transfer, the Corporation shall have no further liability hereunder. No benefit payment shall, in any manner be subject to garnishment,
attachment, execution, levy, debts, contracts, liabilities, engagements or torts of the Director or Director’s designated beneficiary or estate. 
  
 SECTION 10.    ASSIGNMENT. 
  
 Except as herein provided, this Agreement shall be binding upon the parties hereto, their heirs, executors, administrators, successors (including but not
limited to successors resulting from any corporate merger or acquisition) or assigns. 
  
 SECTION 11.    NO RIGHTS TO CONTINUED DIRECTORSHIP. 
  
 Nothing in this Agreement shall confer upon a Director any right to continue to service as a member of the Board of Directors or any committee of the Board of Directors, to be retained by the Corporation as a
consultant 

  

 5 

 
or to be employed by the Corporation as an employee and shall not interfere in any way with the right of the Corporation to terminate the Director’s
service as a member of the Board of Directors or any committee of the Board of Directors as set forth in the by-laws of the Corporation or the Director’s consulting or employment relationship with the Company, if any, at any time. 

 
 SECTION 12.    NOTICES. 
  
 Any notice required or permitted under this Agreement shall be deemed given
when delivered personally, or when deposited in a United States Post Office as registered mail, postage prepaid, addressed, as appropriate, either to the Director at his or her address hereinabove set forth or such other address as he or she may
designate in writing to the Corporation, or to the Corporation, Attention: Secretary, at 730 Central Avenue, Murray Hill, New Jersey 07974, or such other address as the Corporation may designate in writing to Employee 
  
 SECTION 13.    GOVERNING LAW. 
  
 This Agreement shall be governed by and construed according to the laws of
the State of New Jersey, determined without regard to its conflicts of law rules. 
  
 IN WITNESS WHEREOF, the parties hereto have set their hands and seals the day and year first above written. 
  

			
	 
		
	 	 	 
	 	 	 Director
  
 C. R. BARD, INC.

		
	 	 	 By:                                      
                                        
          

  

 6

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