Document:

exv10w1

Exhibit 10.1

	 	 	 
	

	 	Wright Medical Netherlands B.V.

Commerce Parc

Gebouw B, 6th floor

Krijgsman 11

1186 DM Amstelveen

NETHERLANDS
	 
	 	 
	 

	 	www.wmt.com

Settlement agreement

termination by mutual consent

of the employment agreement

between wright medical netherlands b.v.

and mr. Paul Kosters

19th January 2010

Settlement agreement between Mr Paul KOSTERS

and the company WRIGHT MEDICAL NETHERLANDS B.V.

1 / 7

 

	 	 	 
	

	 	Wright Medical Netherlands B.V.

Commerce Parc

Gebouw B, 6th floor

Krijgsman 11

1186 DM Amstelveen

NETHERLANDS
	 
	 	 
	 

	 	www.wmt.com

SETTLEMENT AGREEMENT

(“vaststellingsovereenkomst”)

This agreement is made this day nineteenth January two thousand and ten between:

Wright Medical Netherlands B.V., a limited liability company according to the laws of the
Netherlands, having its registered office at (1186 DM) Amstelveen, Krijgsman 11 (“Wright Medical”);

and

Mr Paul Kosters, residing at Herman Gorterstraat 5, 1077 WD Amsterdam, The
Netherlands (“Mr. Paul Kosters”).

Together hereinafter referred to as the “Parties”

WHEREAS:

	 	(a)	 	Mr. Paul Kosters fulfilled the position of President for Europe, Middle-East
and Africa;
	 
	 	(b)	 	Due to necessary restructuring of the organization, the position of President for
Europe, Middle-East and Africa has become redundant as per 7 January 2010. Wright
Medical notified Mr Paul Kosters of its wish to dissolve the employment agreement.
Wright Medical stresses in this respect that Mr. Paul Kosters cannot be blamed for this
decision;
	 
	 	(c)	 	The reasons for Wright Medical to dissolve the employment agreement have been
discussed between parties in detail and are stipulated in the letter of 8th
January 2010. Mr. Paul Kosters is sufficiently familiar with them;
	 
	 	(d)	 	Parties have entered into an amicable settlement agreement (the “Agreement”),
to cover the effects of the aforementioned decision.
	 
	 	(e)	 	In this agreement, the Parties wish to arrange the effects of the termination
of the Employment Agreements between them and the matters that will arise in respect
and as a consequence thereof;

Settlement agreement between Mr Paul KOSTERS

and the company WRIGHT MEDICAL NETHERLANDS B.V.

2 / 7

 

	 	 	 
	

	 	Wright Medical Netherlands B.V.

Commerce Parc

Gebouw B, 6th floor

Krijgsman 11

1186 DM Amstelveen

NETHERLANDS
	 
	 	 
	 

	 	www.wmt.com

HAVE AGREED AS FOLLOWS:

	1.	 	Severance & further compensation

	 	(a)	 	Upon termination of the employment contract, Wright Medical will pay Mr. Paul
Kosters a lump sum of 260.000 € (two hundred and sixty thousand euros) gross as a
supplement to any unemployment or other benefits or any lower salary Mr. Paul Kosters
may receive elsewhere.
	 
	 	(b)	 	Wright Medical will withhold the usual and legally required taxes and
contributions before paying the remaining net amount unless it receives
instructions from Mr. Paul Kosters to make the payment in another manner if and insofar
it is in accordance to the applicable tax regulations.

	2.	 	Release of duties & salary

	 	(a)	 	Taking into account the 6 month notice period as of 1st February 2010, the
employment contract will be terminated (by mutual consent) as of 1 August 2010 (the
“Termination Date”).
	 
	 	(b)	 	As per 19th January 2010 Mr. Paul Kosters will resign from all
(corporate) managing director/director/officer positions within the group, or any
alternative corporate management position according to the respective laws applicable.
This includes the positions Mr. Paul Kosters fulfilled for the following companies:
Wright Medical EMEA B.V., 2HIP Holding SAS, Wright Medical Europe SA, Wright Medical
Europe Trading SNC, Wright Medical Europe Manifacturing SA, Wright Medical Italy SRL,
Wright Medical UK Ltd, Wright Medical Spain SA, Wright Medical Belgium N.V.. In this
respect Mr. Paul Kosters will send Wright Medical a formal resignation letter dated 18
January 2010. The abovementioned entities will arrange that all registrations with the
relevant Trade Registers (“Handelsregisters”) will be in conformity with the
aforementioned resignations. Mr. Paul Kosters will be granted full and final discharge
by the relevant shareholders for his activities as managing director, director, officer
of the aforementioned companies conducted by him as is apparent from those company’s
annual accounts, all this effective 19th January 2010.
	 
	 	(c)	 	Mr. Paul Kosters accept not to be eligible for any compensation/reward
whatsoever with respect to his resignation from the aforementioned (corporate) managing
director/director/officer positions as stipulated in article 2 (b) and

Settlement agreement between Mr Paul KOSTERS

and the company WRIGHT MEDICAL NETHERLANDS B.V.
3 / 7

 

	 	 	 
	

	 	Wright Medical Netherlands B.V.

Commerce Parc

Gebouw B, 6th floor

Krijgsman 11

1186 DM Amstelveen

NETHERLANDS
	 
	 	 
	 

	 	www.wmt.com

	 	 	 	will hold Wright Medical and its affiliated companies harmless of any claims in this
respect.
	 
	 	(d)	 	Upon completion of a — to Wright Medical’s opinion — satisfactorily transfer of
the remaining work Mr. Paul Kosters will, until the Termination Date, be exempted from
the obligation to perform work at the office of Wright Medical. During this period Mr.
Paul Kosters will however continue to be available for Wright Medical and has been
appointed as Special Advisor to Gary D. Henley, President and Chief Executive Officer,
working closely with Cary P. Hagan, Senior Vice President EMEA Commercial Operations,
advising and helping Wright in the transition.

	3.	 	Final settlement of accounts

	 	(a)	 	As per the Termination Date, a final settlement of accounts (“eindafrekening”)
will be made, inter alia taking into account the provisions of this Agreement and all
other written agreements between the parties and the relevant provisions of Dutch law
(the “Final Settlement of Accounts”).
	 
	 	(b)	 	In the Final Settlement of Accounts, Mr. Paul Kosters will receive a pro rata
compensation for accrued holiday allowance (8%) and will be compensated for untaken
holidays.
	 
	 	(c)	 	Payment of the salary, holiday allowance, car allowance and other perquisites
will continue in the customary manner until the Termination Date. In this respect no
bonuses will be granted for 2010. There are no bonus entitlements/payments due at the
date of signing this agreement
	 
	 	(d)	 	In so far (restricted) Stock Options have been granted to Mr. Paul Kosters in
the past, he will be able to execute such entitlements according to the relevant
regulations applicable.
	 
	 	(e)	 	The minority Shares Mr Paul Kosters holds (in trust) in Wright Medical Europe
SA and Wright Medical Europe Manufacturing SA will have to be returned/transferred
according to the regulations applicable and at no cost.

	4.	 	Miscellaneous

	 	(a)	 	Wright Medical will provide Mr. Paul Kosters a budget to be used for
outplacement services and his reasonable legal fees for negotiating the settlement in
total of EUR 20.000 (excl VAT)

Settlement agreement between Mr Paul KOSTERS

and the company WRIGHT MEDICAL NETHERLANDS B.V.

4 / 7

 

	 	 	 
	

	 	Wright Medical Netherlands B.V.

Commerce Parc

Gebouw B, 6th floor

Krijgsman 11

1186 DM Amstelveen

NETHERLANDS
	 
	 	 
	 

	 	www.wmt.com

	 	(b)	 	Wright Medical will bear the costs of the training program “High Performance
Leadership” with IMD International, in Lausanne (Switzerland), as previously planned
and agreed upon, or, upon request from Paul Kosters and approval from Gary Henley or
Cary Hagan, for another course, for a value up to 9.200 € (excl VAT & travel costs).
	 
	 	(c)	 	Ultimately on 1 August 2010, Mr. Paul Kosters will return to Wright Medical all
items in his possession which belong to Wright Medical or have been leased/rented by
Wright Medical from third parties, as well as all documents and other data carriers
containing information relating to Wright Medical’s business, irrespective of the fact
whether these documents/data carriers originated from Wright Medical, from Mr. Paul
Kosters himself or from any third parties. This includes, but is not limited to company
property such as keys of the office, laptop and mobile phone.
	 
	 	(d)	 	Unless parties have agreed otherwise in this agreement all remaining post
contractual arrangements between the Parties arising from the employment agreement will
remain in full effect after the termination of the employment agreement, such as the,
but not limited to the Confidentiality clause (article 12 of the employment agreement).
	 
	 	(e)	 	Mr. Paul Kosters will be released from the restrictions of the Non-compete
clause (article 14 of the employment agreement) after expiration of a period of 7
months after the Termination Date, being 1 March 2011. During this period Mr. Paul
Kosters will be eligible to the compensation as stipulated in article 14 of the
employment agreement.
	 
	 	(f)	 	With respect of the restrictions as stipulated in article 4 (d) of this
agreement, Mr. Paul Kosters acknowledges that Wright Medical and its affiliated
companies have invested and will continue to invest significant time and money to
recruit and retain its employees. Therefore, recognizing that in the course of his
employment Mr. Paul Kosters has obtained valuable information about employees of Wright
Medical and affiliated companies, their respective talent and areas of expertise, Mr.
Paul Kosters explicitly agrees that for a period of 7 months following the Termination
Date, he will not directly or indirectly, cause any individual previously employed by
Wright Medical or any affiliated company to be employed by, or participate in any
manner in the employment of any such individual by, any person or entity other than
Wright Medical or any affiliated company unless such individual had not been employed
by Wright Medical or any affiliated company for at least 12 months

Settlement agreement between Mr Paul KOSTERS

and the company WRIGHT MEDICAL NETHERLANDS B.V.

5 / 7

 

	 	 	 
	

	 	Wright Medical Netherlands B.V.

Commerce Parc

Gebouw B, 6th floor

Krijgsman 11

1186 DM Amstelveen

NETHERLANDS
	 
	 	 
	 

	 	www.wmt.com

	 	 	 	or in any way induce or attempt to induce such individual to leave the employment of
Wright Medical or any affiliated company.

	 	(g)	 	The parties to this agreement will prepare and send a mutually agreed
communication (both internally, to the employees, and externally, to the customers, etc ...), as soon as the agreement is signed.
	 
	 	(h)	 	The parties to this Agreement will refrain from any statements that may be
detrimental to (the good reputation of) the other party.
	 
	 	(i)	 	Mr. Paul Kosters will refrain from any communication about the end of his
contract towards any third party, especially customers, and leave to Wright Medical to
organize the appropriate communicate, with respect to the interests of all parties.
	 
	 	(j)	 	Mr. Paul Kosters will prepare and provide to Mr. Cary Hagan a full and detailed
report on his on-going activities and contacts.
	 
	 	(k)	 	The parties to this Agreement will not inform third parties (including the
UWVWerkbedrijf) of the contents of this Agreement without the other party’s prior
permission, unless the parties are required to disclose such information to third
parties by law.
	 
	 	(l)	 	Provided that the provisions of this Agreement will have been fulfilled, Mr.
Paul Kosters and Wright Medical hereby in advance grant each other full and final
discharge in respect of any and all claims they (may) have pursuant to the respective
Employment Agreement and/or the termination thereof. In this respect Mr. Paul Kosters
also discharges any claims he may have against any affiliated company of Wright
Medical.
	 
	 	(m)	 	The parties consider this Agreement to be a “vaststellingsovereenkomst” within
the meaning of Dutch law.
	 
	 	(n)	 	In deviation from the relevant provisions in the Dutch Civil Code, the parties
hereby waive their respective rights to rescind this Agreement or have this Agreement
rescinded, irrespective of the nature of the breach of contract (“tekortkoming in de
nakoming”).
	 
	 	(o)	 	This Agreement is construed in accordance with and shall be governed by the
laws of the Netherlands.

Settlement agreement between Mr Paul KOSTERS

and the company WRIGHT MEDICAL NETHERLANDS B.V.

6 / 7

 

	 	 	 
	

	 	Wright Medical Netherlands B.V.

Commerce Parc

Gebouw B, 6th floor

Krijgsman 11

1186 DM Amstelveen

NETHERLANDS
	 
	 	 
	 

	 	www.wmt.com

IN WITNESS whereof the parties hereto have executed this Agreement in two original copies

on 19th January 2010, in Amstelveen.

Wright Medical Netherlands B.V..

	 	 	 	 	 	 
	 	 	 	 
	 	/s/ Jehan Leroy
 	 	/s/ Paul Kosters	 
	By:  	Jehan Leroy, Human Resources Director	 	Mr. Paul Kosters	 
	 	On Behalf of Jason Hood

For Wright Medical Netherlands B.V. 	 	 	 
	 	 

Settlement agreement between Mr Paul KOSTERS

and the company WRIGHT MEDICAL NETHERLANDS B.V.

7 / 7Exhibit 10.1

Exhibit 10.1

Execution Copy

EIGHTH AMENDMENT TO CREDIT AGREEMENT

EIGHTH AMENDMENT TO CREDIT AGREEMENT (this “Eighth Amendment”), dated as of January
15, 2010, by and among TRICO MARINE SERVICES, INC., a Delaware corporation (the
“Borrower”), TRICO MARINE ASSETS, INC., a Delaware corporation (“Trico Assets”), as
a Guarantor, and TRICO MARINE OPERATORS, INC., a Louisiana corporation (“Trico Operators”),
as a Guarantor, the Lenders party hereto (each, a “Lender” and, collectively, the
“Lenders”) and NORDEA BANK FINLAND PLC, NEW YORK BRANCH, as Administrative Agent (in such
capacity, the “Administrative Agent”) and Collateral Agent (in such capacity, the
“Collateral Agent”). Unless otherwise indicated, all capitalized terms used herein and not
otherwise defined shall have the respective meanings provided such terms in the Credit Agreement
referred to below.

W I T N E S S E T H :

WHEREAS, the Borrower, Trico Assets, Trico Operators, the Lenders from time to time party
thereto, and the Administrative Agent are parties to an Amended and Restated Credit Agreement,
dated as of August 29, 2008, and amended by (i) the First Amendment to Credit Agreement, dated as
of March 10, 2009, (ii) the Second Amendment to Credit Agreement dated as of May 8, 2009, (iii) the
Third Amendment to Credit Agreement dated as of May 14, 2009, (iv) the Fourth Amendment and Consent
to Credit Agreement dated as of July 29, 2009, (v) the Fifth Amendment to Credit Agreement dated as
of August 5, 2009, (vi) the Sixth Amendment to Credit Agreement dated as of October 30, 2009 and
(vii) the Seventh Amendment to Credit Agreement dated as of December 22, 2009 (the “Credit
Agreement”);

WHEREAS, subject to the terms and conditions of this Eighth Amendment, the parties hereto wish
to amend certain provisions of the Credit Agreement as herein provided;

NOW, THEREFORE, it is agreed:

I. Amendments to Credit Agreement.

1. The definition of “Total Unutilized Revolving Loan Commitment” appearing in Section 1 of
the Credit Agreement is hereby amended by deleting the text “Total Available Commitment” appearing
in said definition and inserting the text “Total Commitment” in lieu thereof.

II. Miscellaneous Provisions.

1. In order to induce the Lenders to enter into this Eighth Amendment, the Borrower hereby
represents and warrants that (i) no Default or Event of Default exists as of the Eighth Amendment
Effective Date (as defined herein) before or after giving effect to this Eighth Amendment and (ii)
all of the representations and warranties contained in the Credit Agreement or the other Credit
Documents are true and correct in all material respects on the Eighth Amendment Effective Date both
before and after giving effect to this Eighth Amendment, with the same effect as though such
representations and warranties had been made on and as of the

 

 

 

Eighth Amendment Effective Date (it being understood that any representation or warranty made
as of a specific date shall be true and correct in all material respects as of such specific date).

2. The Credit Agreement is modified only by the express provisions of this Eighth Amendment
and this Eighth Amendment shall not constitute a modification, acceptance or waiver of any other
provision of the Credit Agreement or any other Credit Document except as specifically set forth
herein.

3. This Eighth Amendment may be executed in any number of counterparts and by the different
parties hereto on separate counterparts, each of which counterparts when executed and delivered
shall be an original, but all of which shall together constitute one and the same instrument. A
complete set of counterparts shall be lodged with the Borrower and the Administrative Agent.

4. THIS EIGHTH AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

5. This Eighth Amendment shall become effective on the date (the “Eighth Amendment
Effective Date”) when the Borrower, each other Credit Party and the Required Lenders shall
have signed a counterpart hereof (whether the same or different counterparts) and shall have
delivered (including by way of facsimile or other electronic transmission) the same to White &
Case LLP, 1155 Avenue of the Americas, New York, NY 10036; Attention: May Yip (facsimile number:
212-354-8113 / email: myip@whitecase.com).

6. From and after the Eighth Amendment Effective Date, all references in the Credit Agreement
and each of the other Credit Documents to the Credit Agreement shall be deemed to be references to
the Credit Agreement, as modified hereby.

*     *     *

 

2

 

IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute
and deliver this Eighth Amendment as of the date first above written.

	 	 	 	 	 
	 	NORDEA BANK FINLAND PLC, NEW YORK BRANCH, as Administrative Agent
 	 
	 	By:  	/s/ Martin Lunder
 	 
	 	 	Name:  	Martin Lunder 	 
	 	 	Title:  	Senior Vice President 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	                                              /s/ Martin Kahm
 	 
	 	 	Name:  	Martin Kahm 	 
	 	 	Title:  	Vice President 	 
	 

Signature page to Trico $50mm Eighth Amendment

 

 

 

SIGNATURE PAGE TO THE EIGHTH AMENDMENT TO CREDIT AGREEMENT, DATED AS OF THE FIRST DATE WRITTEN ABOVE, AMONG TRICO MARINE SERVICES, INC., TRICO MARINE ASSETS INC., TRICO MARINE OPERATORS, INC., VARIOUS FINANCIAL INSTITUTIONS AND NORDEA BANK FINLAND PLC, NEW YORK BRANCH, AS ADMINISTRATIVE AGENT

NAME OF INSTITUTION:

	 	 	 	 	 
	 	NORDEA BANK NORGE ASA, CAYMAN ISLANDS BRANCH, as a Lender

 	 
	 	By:  	/s/ Martin Lunder
 	 
	 	 	Name:  	Martin Lunder 	 
	 	 	Title:  	Senior Vice President 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Martin Kahm 	 
	 	 	Name:  	Martin Kahm 	 
	 	 	Title:  	Vice President 	 
	 

Signature page to Trico $50mm Eighth Amendment

 

 

 

	 	 	 	 	 
	 	TRICO MARINE SERVICES, INC.

 	 
	 	By:  	/s/ Geoff Jones
 	 
	 	 	Name:  	Geoff Jones 	 
	 	 	Title:  	SVP & CFO 	 
	 

Signature page to Trico $50mm Eighth Amendment

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