Document:

Fifth Amendment to Rights Agreement

 Exhibit 4.1 
 BIOJECT MEDICAL TECHNOLOGIES INC. 
 FIFTH AMENDMENT
TO RIGHTS AGREEMENT 
 This Fifth Amendment to Rights Agreement, dated as of January 8, 2010 (this “Fifth
Amendment”), is made between Bioject Medical Technologies Inc., an Oregon corporation (the “Company”), and American Stock Transfer & Trust Company (the “Rights Agent”), to amend the Rights Agreement, dated as
of July 1, 2002, between the Company and the Rights Agent, as amended by the First Amendment to Rights Agreement dated as of October 8, 2002; the Second Amendment to Rights Agreement dated as of November 15, 2004; the Third Amendment
to Rights Agreement dated as of March 8, 2006; and the Fourth Amendment to Rights Agreement dated as of November 20, 2007 (the “Rights Agreement”). 
 Recitals 
  

	A.	The Company and the Rights Agent have entered into the Rights Agreement. 

  

	B.	The Board of Directors of the Company adopted resolutions on December 18, 2009 to amend the Rights Agreement as stated below and in accordance with Section 26
thereof. 

  

	C.	The Company has directed the Rights Agent to adopt this Fifth Amendment. 

 Agreement 
 In consideration of the mutual agreements set forth herein, the
parties agree as follows: 
  

	1.	Section 7(a) of the Rights Agreement is hereby amended in its entirety to read as follows: 

 “(a) At any time after the Distribution Date and at or prior to the earlier of (i) the Close of Business on January 10, 2010
or such later date as may be established by the Board of Directors prior to the expiration of the Rights (the “Final Expiration Date”) or (ii) the time at which the Rights are redeemed as provided in Section 23 (the
“Redemption Date”), subject to Section 7(e), the registered holder of any Rights Certificate may exercise the Rights evidenced thereby (except as otherwise provided herein including, without limitation, the restrictions on
exercisability set forth in Sections 9(c), 11(a)(iii) and 23(a) and exchange provisions in Section 24 hereof) in whole or in part upon surrender of the Rights Certificate, with the form of election to purchase and certificate on the reverse
side thereof duly executed, to the Rights Agent at the office of the Rights Agent designated for such purpose, together with payment of the Purchase Price for each Right that is exercised.” 
  

	2.	The Rights Agreement will remain in full force and effect without amendment except this Fifth Amendment and any other amendment made in accordance with Section 26
of the Rights Agreement. All references in the Rights Agreement to “this Agreement” or the “Agreement” or “hereof” and all references in this Fifth Amendment to the Agreement will hereafter be deemed to be
references to the Rights Agreement as amended by this Fifth Amendment and any other amendment made in accordance with Section 26 of the Rights Agreement. All terms used but not defined in this Fifth Amendment have the meanings ascribed to them
in the Rights Agreement. 

  

 1 

 The parties hereto have caused this Fifth Amendment to be duly executed as of the day and
year first above written. 
  

			
	BIOJECT MEDICAL TECHNOLOGIES INC.
		
	By:	 	 /s/ Christine Farrell

	Name:	 	Christine Farrell
	Title:	 	Vice President of Finance
	
	AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC
		
	By:	 	 /s/ Herbert J. Lemmer

	Name:	 	Herbert J. Lemmer
	Title:	 	Vice President

  

 2Indemnification Priority Agreement

 Exhibit 10.1 
 INDEMNIFICATION PRIORITY AGREEMENT 
 This INDEMNIFICATION
PRIORITY AGREEMENT, dated as of January 11, 2010 (this “Agreement”), is among The Blackstone Group, L.P. a Delaware limited partnership (“Blackstone”), The Goldman Sachs Group, Inc., a Delaware corporation
(“Goldman Sachs”), Kohlberg Kravis Roberts & Co. L.P., a Delaware limited partnership (“KKR”), TPG Capital, L.P. a Delaware limited partnership (“TPG” and, together with Blackstone, Goldman
Sachs and KKR, the “Sponsors”), LVB Acquisition, Inc., a Delaware corporation (“Parent”), and Biomet, Inc., an Indiana corporation (the “Company”). 
 WHEREAS, Parent and the Company have entered into one or more monitoring, stockholder, indemnification and other agreements
(any such agreement or agreements, collectively, the “Company Indemnification Agreements”) providing for, among other things, the indemnification of and advancement of expenses incurred by the Sponsors, their affiliated funds and
their respective directors, members, managers, partners, affiliates and controlling persons for certain matters described therein (the Sponsors, their affiliated funds, and their respective directors, members, managers, partners, affiliates and
controlling persons, collectively, the “Sponsor Indemnified Parties”); 
 WHEREAS, one or more
executives or principals of the Sponsors or their affiliates may serve as a director of Parent or the Company and one or more other persons (who are not executives or principals of the Sponsors or their affiliates) may serve as a director of Parent
or the Company as an appointee or designee of the applicable Sponsor (any such person or persons, the “Sponsor Directors”); 
 WHEREAS, the Sponsor Directors may have entered into indemnification agreements with Parent or the Company providing for indemnification and advancement of expenses for the Sponsor Directors in connection
with their service as a director of Parent or the Company and the Sponsor Directors may, in their capacities as directors of the Company, be indemnified and/or entitled to advancement of expenses under Parent’s or the Company’s certificate
or articles of incorporation, by-laws, limited liability company operating agreement, limited partnership agreement or other organizational documents or policies of insurance procured by Parent or the Company (in each case, a “Company
Director Indemnity”); 
 WHEREAS, the Sponsors and/or their respective affiliates and controlling
persons (in this capacity, collectively, the “Sponsor Indemnitors”) have (i) entered into one or more limited partnership agreements, limited liability company operating agreements and other agreements, (ii) certificates
and articles of incorporation, by-laws, and other organizational documents and (iii) obtained insurance (any such agreements, documents or insurance, collectively, the “Sponsor Indemnification Agreements”), in each case,
providing for, among other things, indemnification of and advancement of expenses for the Sponsor Directors for, among other things, the same matters that are subject to indemnification and advancement of expenses under the Company Indemnification
Agreements and the Company Director Indemnity; and 
 WHEREAS, Parent, the Company, and the Sponsors wish to
clarify certain matters regarding the indemnification and advancement of expenses provided under the Company Indemnification Agreements and the Company Director Indemnity as compared to the indemnification and advancement of expenses provided for
under the Sponsor Indemnification Agreements; 
 NOW, THEREFORE, in consideration of the foregoing recitals and
the premises hereinafter set forth, Parent, the Company, and the Sponsors hereby agree as follows. 

 1.    Parent and the Company hereby acknowledge and
agree that, as among the Company, Parent and the Sponsor Indemnitors, the obligation to indemnify or advance expenses to any Sponsor Director for the matters covered thereby, under either any Company Indemnification Agreement or Company Director
Indemnity, shall be payable in the following priority: The Company shall be the primary source of indemnification and advancement of such Sponsor Director in connection therewith, Parent shall be the secondary source of indemnification and
advancement, and any obligation on the part of any Sponsor Indemnitor under any Sponsor Indemnification Agreement to indemnify, or advance expenses to, such Sponsor Director shall be tertiary to the Company’s and, then, Parent’s
obligations and shall be reduced by any amount that the Sponsor Director may collect as indemnification or advancement from the Company and/or the Parent. In the event that the Company and/or the Parent fails to indemnify or advance expenses to a
Sponsor Director as required or contemplated by any Company Indemnification Agreement or Company Director Indemnity (such amounts, the “Unpaid Director Indemnity Amounts”) and any Sponsor Indemnitor makes any payment to or on behalf
of such Sponsor Director in respect of indemnification or advancement of expenses under any Sponsor Indemnification Agreement on account of such Unpaid Director Indemnity Amounts, such Sponsor Indemnitor shall be subrogated to the rights of such
Sponsor Director under any Company Indemnification Agreement or Company Director Indemnity, as the case may be, and such Sponsor Indemnitor shall, to the fullest extent permitted by law, be indemnified and held harmless jointly and severally by
Parent and the Company for such payments, in respect of such Unpaid Director Indemnity Amounts. 
 2.    Each of Parent and the Company hereby agrees that, to the fullest extent permitted by applicable law, its obligation to indemnify Sponsor Indemnified Parties under the Company Indemnification Agreements shall
include any amounts expended by any Sponsor Indemnitor under the Sponsor Indemnification Agreements in respect of indemnification or advancement of expenses to any Sponsor Director in connection with litigation or other proceedings involving his or
her service as a director of Parent or the Company to the extent such amounts expended by such Sponsor Indemnitor are on account of any Unpaid Director Indemnity Amounts. 
 3.    Each of Parent and the Company hereby agrees that it will not amend any Company Director Indemnity as in effect on the date hereof to alter the rights of
any Sponsor Director in any manner that would alter any Sponsor Director’s rights with respect to conduct pre-dating the date of any such amendment without the consent of the Sponsors. 
 4.    Except as otherwise provided herein, this Agreement may be amended or modified only by a writing
executed by each of the parties hereto. 
 5.    The provisions of this Agreement shall
inure to the benefit and be binding upon the parties hereto and the provisions of this Agreement shall inure to the benefit of the Sponsor Directors and the other Sponsor Indemnified Parties, all of whom are intended to be third party beneficiaries
thereof. The rights, indemnities and remedies herein provided are cumulative and are not exclusive of any rights, indemnities or remedies that any party or other Sponsor Indemnitee may otherwise have by contract, at law or in equity or otherwise,
provided that (i) to the extent that any Sponsor Indemnitee is entitled to be indemnified by Parent or the Company and by any other Sponsor Indemnitee or any insurer under a policy procured by any Sponsor Indemnitee, the obligations of Parent
or the Company hereunder shall be primary and the obligations of such other Sponsor Indemnitee or insurer secondary, and (ii) neither Parent nor the Company shall be entitled to contribution or indemnification from or subrogation against such
other Sponsor Indemnitee or insurer. 
 6.    This Agreement shall be governed by and
construed in accordance with the laws of the state of incorporation of Parent and the Company, as applicable, regardless of the law that might be applied under principles of conflict of laws to the extent such principles would require or permit the

  

 -2- 

 
application of the laws of another jurisdiction. No suit, action or proceeding with respect to this Agreement may be brought in any court or before any similar authority other than in a court of
competent jurisdiction in the state of incorporation of Parent or the Company, as applicable, and the parties hereto hereby submit to the exclusive jurisdiction of such courts for the purpose of such suit, proceeding or judgment. Each party
irrevocably waives trial by jury in any legal action or proceeding in relation to this Agreement and for any counterclaim therein. 
 7.    No Sponsor Indemnitor shall seek any order of a court or other governmental authority that would prohibit or otherwise interfere with the performance of any of the Company’s
and/or Parent’s advancement, indemnification and other obligations under this Agreement. 
 8.    Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or
unenforceable in any respect under applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or any other jurisdiction, but this Agreement shall be reformed, construed and
enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 
 9.    This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument. A signature of a party transmitted by
facsimile or other electronic means shall constitute an original for all purposes. 
 * * * * * 

 

 -3- 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date set forth in the first paragraph hereof. 
  

					
	SPONSORS:
	
	 THE BLACKSTONE GROUP, L.P.
  
  

			
	By:	 		 	  /s/ Robert L. Friedman
		 		 	Name: Robert L. Friedman
		 		 	Title: Chief Legal Officer

  

					
	 THE GOLDMAN SACHS GROUP, INC.
  
  

			
	By:	 		 	  /s/ Adrian Jones
		 		 	Name: Adrian Jones
		 		 	Title: Attorney-in-Fact

  

					
	 KOHLBERG KRAVIS ROBERTS & CO. L.P.
  
  

			
	By:	 		 	  /s/ David Sorkin
		 		 	Name: David Sorkin
		 		 	Title: General Counsel

  

					
	 TPG CAPITAL, L.P.

		
	By:	 	  Tarrant Capital, LLC
			
	By:	 		 	  /s/ Clive D. Bode
		 		 	Name: Clive D. Bode
		 		 	Title: Vice President and Secretary

					
	 LVB ACQUISITION, INC.

			
	By:	 		 	  /s/ Bradley J. Tandy
		 		 	Name: Bradley J. Tandy
		 		 	 Title:  Senior Vice President, General Counsel
           and Secretary
  

	 BIOMET, INC.

			
	By:	 		 	  /s/ Jeffrey R. Binder
		 		 	Name: Jeffrey R. Binder
		 		 	 Title:  President and Chief Executive Officer

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