Document:

Exhibit 4.3

 

ESCROWED
STOCK PLAN

 

Brookfield
Asset Management Inc. 

September 23,
2022

 

     

     

    

 

Table
of Contents

 

Page

 

	Section 1
 GENERAL PROVISIONS	2

 

		1.1	Purposes	2
		1.2	Definitions	2
		1.3	Shares Reserved	7
		1.4	Non-Exclusivity	8
		1.5	Amendment and Termination	8
		1.6	Administration	9
		1.7	Incorporation and Termination of Companies	9

 

	Section 2
 AWARDS OF ESCROWED SHARES	10

 

		2.1	Eligibility	10
		2.2	Grant of Escrowed Shares	10
		2.3	Transfer of Escrowed Shares	10
		2.4	Vesting of Escrowed Shares	10
		2.5	Change in Employment Status	11
		2.6	Repurchase on Termination	11
		2.7	Right of Exchange or Call	11

 

	Section 3
 OTHER provisions	 13

 

		3.1	No Right to Service	13
		3.2	No Liability for Decrease in Value of Escrowed Shares and /
or Brookfield Shares	13
		3.3	Restrictions	13
		3.4	Permitted Transfers	13
		3.5	Currency	14
		3.6	Successors and Assigns	14
		3.7	Withholdings	14
		3.8	Section 83(b) Election	14
		3.9	Governing Law	14
		3.10	Approval	15
		3.11	Amendments	15

 

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BROOKFIELD
ASSET MANAGEMENT INC.

ESCROWED STOCK PLAN

 

Section 1

GENERAL PROVISIONS

 

	1.1	Purposes

 

The
purpose of the Plan is to award designated executives of the Brookfield Group compensation that provides the opportunity to earn investment
returns tied to the performance of Class A Limited Voting Shares of Brookfield Asset Management Inc. and aligns their long-term
interests with those of Brookfield’s shareholders.

 

	1.2	Definitions

 

The
following terms, when used in the Plan, shall have the respective meanings set forth below:

 

		(a)	“2011
                                            Company” has the meaning given to it in section 1.7.

 

		(b)	“Affiliate”
                                            of a person means any entity which is an “affiliate” of the person for the purposes
                                            of Ontario Securities Commission National Instrument 45-106 - Prospectus Exemptions,
                                            as amended from time to time, and with respect to Brookfield, includes any other entity with
                                            outstanding securities that are exchangeable into Brookfield Shares.

 

		(c)	“Amalco”
                                            means the amalgamated company after an Amalgamation.

 

		(d)	“Amalgamation”
                                            means an amalgamation between a Company and a subsidiary of Brookfield (and, in the case
                                            of an Indirect Purchase Structure, a Subco) as a result of which, among other things, each
                                            issued and outstanding Escrowed Share (other than those acquired by Brookfield) will be exchanged
                                            for a number of Brookfield Shares equal to the Exchange Amount and cash will be paid in lieu
                                            of any fractional Brookfield Shares.

 

		(e)	“Blackout
                                            Period” means the period imposed by Brookfield during which specified individuals,
                                            including insiders of Brookfield, may not trade in Brookfield’s securities, (including,
                                            for greater certainty, when specific individuals are restricted from trading because they
                                            have material non-public information), but does not include any period when a regulator has
                                            halted trading in Brookfield’s securities.

 

		(f)	“Board”
                                            means the board of directors of Brookfield.

 

		(g)	“Brazil
                                            Sub-Plan” has the meaning given to that term in section 3.11.

 

		(h)	“Brookfield”
                                            means Brookfield Asset Management Inc. and its successors and assigns.

 

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		(i)	“Brookfield
                                            Group” means Brookfield Asset Management Inc. and its Affiliates.

 

		(j)	“Brookfield
                                            Share” means a Class A Limited Voting Share of Brookfield.

 

		(k)	“Call”
                                            has the meaning given to that term in section 2.7(c)(i).

 

		(l)	“Call
                                            Notice” has the meaning given to that term in section 2.7(c)(ii).

 

		(m)	“Cause”
                                            means:

 

		(i)	a
                                            Participant’s willful failure or refusal to perform his or her employment duties after
                                            being given notice and a reasonable opportunity to remedy such failure or refusal;

 

		(ii)	a
                                            Participant’s gross misconduct in connection with the Participant’s employment;

 

		(iii)	a
                                            Participant’s act of dishonesty or breach of trust in connection with the Participant’s
                                            employment;

 

		(iv)	a
                                            Participant’s conviction of, or a plea of guilty or no contest to, any indictable criminal
                                            offence or any other criminal offense involving fraud, dishonesty or misappropriation;

 

		(v)	a
                                            Participant’s breach of confidentiality, non-solicitation or non-competition obligations;

 

		(vi)	a
                                            Participant’s conduct which is likely to injure the reputation or business of the Brookfield
                                            Group, including, without limitation, any breach of Brookfield’s Code of Conduct or
                                            the willful violation by the Participant of any of Brookfield’s policies; or

 

		(vii)	any
                                            other conduct of a Participant which would be treated as cause under the laws of the jurisdiction
                                            in which the termination occurs.

 

		(n)	“Code”
                                            means the Internal Revenue Code of 1986, as amended.

 

		(o)	“Common
                                            Share” means a non-voting common share in the capital of a Company.

 

		(p)	“Company”
                                            means BAM Holdings Corp. or any other corporation created to facilitate participation in
                                            the Plan subsequent to the establishment of the Plan and any of their respective successors.

 

		(q)	“Direct
                                            Purchase Structure” has the meaning given to that term in section 1.7.

 

		(r)	“Electing
                                            Shareholders” has the meaning given to that term in section 2.7.

 

		(s)	“Escrow
                                            Agent” means the person appointed by a Company to hold Unvested Shares on behalf
                                            of Participants.

 

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		(t)	“Escrowed
                                            Plans” has the meaning given to that term in section 3.11.

 

		(u)	“Escrowed
                                            Share” means a Common Share granted to a Participant pursuant to the Plan.

 

		(v)	“Exchange”
                                            has the meaning given to that term in section 2.7.

 

		(w)	“Exchange
                                            Amount” means:

 

		(i)	following
                                            the delivery of an Exchange Notice, the Net Asset Value per Share divided by the Fair Market
                                            Value for a Brookfield Share, each as calculated on the date of delivery of the Exchange
                                            Notice; and

 

		(ii)	in
                                            the case of an Amalgamation that does not follow the delivery of an Exchange Notice, (i) the
                                            Net Asset Value per Share divided by the Fair Market Value for a Brookfield Share, each as
                                            calculated on the Settlement Date or (ii) if the Settlement Date is during a Blackout
                                            Period, the Net Asset Value per Share divided by the Fair Market Value of a Brookfield Share,
                                            each as calculated for the period of five trading days following the end of such Blackout
                                            Period.

 

		(x)	“Exchange
                                            Notice” has the meaning given to that term in section 2.7.

 

		(y)	“Fair
                                            Market Value” means the volume weighted average price of a Brookfield Share as
                                            reported on the NYSE on the applicable date(s) (or if the NYSE is not open on such date,
                                            the immediately following date on which the NYSE is open). If the applicable date is during
                                            a Blackout Period, the Fair Market Value shall be calculated for the period of five trading
                                            days following the end of such Blackout Period. For purposes of determining the Fair Market
                                            Value on the Grant Date, the Fair Market Value shall be calculated for the period of five
                                            trading days immediately preceding such Grant Date.

 

		(z)	“Forfeited
                                            Shares” has the meaning given to that term in section 2.5.

 

		(aa)	“Forward
                                            Agreement” means one or more forward share purchase agreements providing for the
                                            purchase of Brookfield Shares or securities exchangeable into Brookfield Shares at a date
                                            in the future.

 

		(bb)	“Grant
                                            Agreement” has the meaning given to that term in section 2.2(c).

 

		(cc)	“Grant
                                            Date” means the date of grant of awards under this Plan, which shall be (i) in
                                            the case of a grant of awards approved by the Board during a Blackout Period, the sixth trading
                                            day following the end of such Blackout Period and (ii) in the case of all other grants
                                            of awards, the sixth trading day following the date such awards are approved by the Board,
                                            provided, in each case, that if a subsequent Blackout Period is imposed prior to the Grant
                                            Date, the Grant Date shall be deferred until the sixth trading day following the end of such
                                            subsequent Blackout Period.

 

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		(dd)	“Indirect
                                            Purchase Structure” means a grant of Escrowed Shares under the Plan issued by a
                                            Company that has: (i) entered into a Forward Agreement with a Subco to purchase Brookfield
                                            Shares or securities exchangeable into Brookfield Shares at a date set in the future or (ii) acquired
                                            interests in a Subco that holds (or is entitled to acquire) Brookfield Shares or securities
                                            exchangeable into Brookfield Shares either in addition to or as an alternative to acquiring
                                            Brookfield Shares directly.

 

		(ee)	“Management
                                            Shareholder” means an individual who is a shareholder of a Company.

 

		(ff)	“Net
                                            Asset Value per Share” on any particular day is defined as the value of the Brookfield
                                            Shares and securities exchangeable into Brookfield Shares held by the Company plus (minus)
                                            the amount by which the value of the other assets of the Company exceed (are less than) the
                                            liabilities (including any extraordinary liabilities) of the Company as at the relevant date,
                                            all as determined by the board of directors of the Company, divided by the total number of
                                            Common Shares outstanding. For greater certainty, (i) any shares of Subco owned by the
                                            Company will be valued based on their net asset value, calculated in the same manner as the
                                            Net Asset Value per Share, (ii) any preferred shares of the Company or the Subco (as
                                            the case may be) will be treated as liabilities for purposes of determining Net Asset Value
                                            per Share and will be valued based on the redemption price plus any accrued and unpaid dividends,
                                            (iii) Brookfield Shares and securities exchangeable into Brookfield Shares will be valued
                                            at the Fair Market Value on such day (or for such other period contemplated in this Agreement),
                                            and (iv) any Forward Agreement will have a value equal to the value of the Brookfield
                                            Shares to be acquired under such agreement minus the purchase price for such shares; if such
                                            amount is greater than zero the Forward Agreement will be treated as an asset, if less than
                                            zero, it will be treated as a liability.

 

		(gg)	“NYSE”
                                            means the New York Stock Exchange, or successor thereto.

 

		(hh)	“Participant”
                                            means a person eligible to participate in the Plan pursuant to section 2.1(a).

 

		(ii)	“Plan”
                                            means the Escrowed Stock Plan of Brookfield as set forth herein.

 

		(jj)	“Preferred
                                            Share” means a preferred share in the capital of a Company.

 

		(kk)	“Retirement”
                                            means the resignation of employment with Brookfield and its Affiliates in circumstances determined
                                            by the Board, in its absolute discretion, to be retirement.

 

		(ll)	“Section 83(b) Election”
                                            has the meaning given to that term in section 3.8.

 

		(mm)	“Security-Based
                                            Compensation Arrangement” has the meaning given to that term in the TSX Company
                                            Manual.

 

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		(nn)	“Settlement
                                            Date” for a grant under this Plan means, unless an earlier date is otherwise determined
                                            by the Board, the tenth anniversary of the Grant Date.

 

		(oo)	“Specified
                                            Maximum” has the meaning given to that term in section 1.3(a).

 

		(pp)	“Subco”
                                            means any corporation created to facilitate the use of the Indirect Purchase Structure by
                                            holding Brookfield Shares or securities exchangeable into Brookfield Shares or by being entitled
                                            to acquire Brookfield Shares.

 

		(qq)	“Termination
                                            Date” means, unless otherwise determined by the Board:

 

		(i)	if
                                            the Participant’s employment is terminated by the Brookfield Group for any reason other
                                            than as set out in (ii), (iii) or (iv) below, the date and time notice of termination
                                            is delivered to the Participant;

 

		(ii)	if
                                            the Participant resigns or has a Retirement, the effective date of the resignation or Retirement,
                                            as applicable;

 

		(iii)	if
                                            a Participant dies, the date of the Participant’s death; and

 

		(iv)	if
                                            a Participant is on a continuous leave of absence, including for disability, the earlier
                                            of (a) the date and time notice of termination is delivered to the Participant, and
                                            (b) two years from the start of the Participant’s leave of absence,

 

in
each case, (A) without regard to whether the Participant’s employment with the Brookfield Group is terminated with or without
Cause, or through actions or events constituting constructive dismissal, with or without notice or compensation in lieu of notice, and
(B) does not include any period during, or in respect of, which a Participant is receiving or is entitled to receive payments in
lieu of notice (whether by way of lump sum or salary continuance), benefits continuance, severance pay, or any other termination related
payments or benefits. Any such severance period or notice period shall not be considered a period of employment for the purposes of a
Participant’s rights under the Plan.

 

		(rr)	“Terminated
                                            Participant” has the meaning given to that term in section 2.5.

 

		(ss)	“Unanimous
                                            Shareholders’ Agreement” means the unanimous shareholders’ agreement
                                            for each Company among Brookfield, the Management Shareholders of such Company and such Company.

 

		(tt)	“Unvested
                                            Shares” means Escrowed Shares that have not Vested pursuant to section 2.4.

 

		(uu)	“U.S.
                                            Participant” means a Participant who is a U.S. citizen or resident alien within
                                            the meaning of Section 7701(b)(1)(A) of the Code.

 

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		(vv)	“Vest”
                                            or “Vested” means required to be released to the Participant by the Escrow
                                            Agent from escrow.

 

Words
importing the singular number only shall include the plural and vice versa and words importing the masculine shall include the feminine.

 

	1.3	Shares
Reserved

 

		(a)	The
                                            only securities of Brookfield issued or issuable under the Plan shall be Brookfield Shares.

 

		(b)	Management
                                            has fixed 13,500,000 Brookfield Shares as the maximum number of shares that may be issued
                                            in aggregate under the Escrowed Plans (the “Specified Maximum”). The number
                                            of Brookfield Shares issued pursuant to section 2.7(b) (Concurrent Exchange) or section
                                            2.7(c)(i) (Mandatory Exchange) will not be deducted from the Specified Maximum and will
                                            continue to be available for issuance under the Escrowed Plans. In connection with an Exchange
                                            pursuant to section 2.7(a) (Optional Exchange), the number of Brookfield Shares to be
                                            deducted from the Specified Maximum shall equal the number of new Brookfield Shares issued
                                            in connection with the Exchange. Following the Amalgamation of any Company or the exchange
                                            of all Escrowed Shares of such Company held by Management Shareholders, the number of Brookfield
                                            Shares that have been previously issued by such Company to Management Shareholders pursuant
                                            to Section 2.7(a) of the Plan and section 2.7(a) of the Brazil Sub-Plan shall
                                            be added back to the Specified Maximum and will be available for subsequent issuance under
                                            the Escrowed Plans. The Specified Maximum is subject to adjustment in accordance with the
                                            provisions of the Escrowed Plans.

 

		(c)	The
                                            maximum number of Brookfield Shares that are issuable to any one person at any time pursuant
                                            to the Plan and all other Security-Based Compensation Arrangements of Brookfield shall not
                                            exceed 5% of the issued and outstanding Brookfield Shares.

 

		(d)	The
                                            maximum number of Brookfield Shares that are issuable to insiders of Brookfield at any time
                                            pursuant to the Plan and all other Security-Based Compensation Arrangements of Brookfield
                                            shall not exceed 10% of the issued and outstanding Brookfield Shares.

 

		(e)	The
                                            maximum number of Brookfield Shares that are issued to insiders of Brookfield within a one-year
                                            period pursuant to the Plan and all other Security-Based Compensation Arrangements of Brookfield
                                            shall not exceed 10% of the issued and outstanding Brookfield Shares.

 

		(f)	In
                                            the event of any change in the outstanding Brookfield Shares by reason of any stock dividend
                                            or split, recapitalization, merger, consolidation, combination or exchange of shares, or
                                            other corporate change, the Board shall make, subject to the prior approval of the relevant
                                            stock exchanges, if required, appropriate substitution or adjustment in the number or kind
                                            of shares or other securities reserved for issuance pursuant to the Plan, however, no substitution
                                            or adjustment shall obligate Brookfield to issue or sell fractional shares.

 

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		(g)	In
                                            the event of the reorganization of Brookfield or the amalgamation, merger or consolidation
                                            of Brookfield with another corporation, or the payment of a special or extraordinary dividend,
                                            the Board shall make such provision for the protection of the rights of Participants as the
                                            Board in its discretion deems appropriate.

 

	1.4	Non-Exclusivity

 

Nothing
contained herein shall prevent the Board from adopting other or additional compensation arrangements, subject to any required approval.

 

	1.5	Amendment
and Termination

 

		(a)	The
                                            Board may amend, suspend or terminate this Plan, or any portion thereof, at any time, subject
                                            to those provisions of applicable law (including, without limitation, applicable stock exchange
                                            rules, regulations and policies), if any, that require the approval of shareholders or any
                                            governmental or regulatory body. However, except as expressly set forth herein, no action
                                            of the Board, or shareholders may adversely alter or impair the rights of a Participant without
                                            the consent of the affected Participant with respect to any Escrowed Shares previously granted
                                            to the Participant. Without limiting the generality of the foregoing, the Board may make
                                            the following types of amendments to the Plan without seeking shareholder approval, including
                                            but not limited to:

 

		(i)	amendments
                                            of a “housekeeping” or administrative nature including, without limiting the
                                            generality of the foregoing, any amendment for the purpose of curing any ambiguity, error
                                            or omission in the Plan or to correct or supplement any provision of the Plan that is inconsistent
                                            with any other provision of the Plan;

 

		(ii)	amendments
                                            necessary to comply with the provisions of applicable law (including, without limitation,
                                            applicable stock exchange rules, regulations and policies);

 

		(iii)	amendments
                                            necessary for awards to qualify for favorable treatment under Canadian or US tax laws;

 

		(iv)	any
                                            amendment to the vesting provisions of the Plan;

 

		(v)	any
                                            amendment to the termination or early termination provisions of the Plan, provided such amendment
                                            does not entail an extension beyond the Settlement Date; and

 

		(vi)	amendments
                                            necessary to suspend or terminate the Plan.

 

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		(b)	Shareholder
                                            approval will be required for the following types of amendments:

 

		(i)	amendments
                                            to the number of Brookfield Shares issuable under the Plan, including an increase to the
                                            Specified Maximum or a change from the Specified Maximum to a fixed maximum percentage;

 

		(ii)	any
                                            amendment expanding the categories of eligibility under the Plan which would have the potential
                                            of broadening or increasing insider participation;

 

		(iii)	any
                                            amendment to this section 1.5; or

 

		(iv)	amendments
                                            required to be approved by shareholders under applicable law (including, without limitation,
                                            applicable stock exchange rules, regulations and policies).

 

	1.6	Administration

 

		(a)	The
                                            Plan shall be administered by the Board with Brookfield being responsible for all costs relating
                                            to the administration of the Plan.

 

		(b)	The
                                            Board is authorized, subject to the provisions of the Plan, to establish such rules and
                                            regulations as it deems necessary for the proper administration of the Plan and to make determinations
                                            and take such other action in connection with or in relation to the Plan as it deems necessary
                                            or advisable. Each determination or action made or taken pursuant to the Plan, including
                                            interpretation of the Plan, shall be final and conclusive for all purposes and binding upon
                                            all parties.

 

	1.7	Incorporation
and Termination of Companies

 

In
2011, Brookfield incorporated BAM Holdings Corp. (the “2011 Company”) for purposes of this Plan. Brookfield funded
the 2011 Company, in exchange for a combination of Preferred Shares and Common Shares, with cash to acquire Brookfield Shares in the
market (the “Direct Purchase Structure”). Immediately following the Amalgamation of the 2011 Company or the exchange
of all Escrowed Shares of the 2011 Company held by Participants, Brookfield will cause, as applicable, Amalco or the 2011 Company to
be wound up or merged into Brookfield and the Brookfield Shares held by it to be cancelled.

 

After
February 16, 2012, unless otherwise determined by the Board, grants under this Plan will be made of Escrowed Shares using the Indirect
Purchase Structure. Brookfield will incorporate one or more Companies and Subcos for such purpose and Brookfield will fund each Company
and Subco to the extent necessary to acquire the Brookfield Shares (or securities exchangeable into Brookfield Shares) underlying each
grant of Escrowed Shares. Immediately following the Amalgamation of any Company or the exchange of all Escrowed Shares of such Company
held by Management Shareholders, Brookfield will cause, as applicable, Amalco, the Company and/or Subco to be wound up or merged into
Brookfield and no less than the number of Brookfield Shares held by one or more Companies, Amalcos and/or Subcos, as applicable, that
equals the number of Brookfield Shares issued by such Company to Management Shareholders (i) pursuant to the Amalgamation or Exchange,
as applicable, and (ii) pursuant to Section 2.7(a) of the Plan and section 2.7(a) of the Brazil Sub-Plan at any time
prior to such Amalgamation or Exchange, to be cancelled.

 

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Section 2

AWARDS OF ESCROWED SHARES

 

	2.1	Eligibility

 

		(a)	Any
                                            executive of the Brookfield Group designated by the Board, or any other person designated
                                            by the Board, is eligible to participate in the Plan.

 

		(b)	Escrowed
                                            Shares are granted under this Plan as additional discretionary compensation.

 

	2.2	Grant
of Escrowed Shares

 

		(a)	Escrowed
                                            Shares will be granted pursuant to section 2.1 above.

 

		(b)	The
                                            number of Escrowed Shares to be granted to each Participant will be determined at the discretion
                                            of the Board.

 

		(c)	As
                                            soon as practicable after determining the number of Escrowed Shares and any terms and conditions
                                            of the Escrowed Shares to be granted to a Participant, (i) the Board shall cause an
                                            agreement in writing to be given to the Participant advising the Participant as to the number
                                            of Escrowed Shares and any terms and conditions pertaining to the Escrowed Shares granted
                                            to the Participant under the Plan or as determined by the Board from time to time in such
                                            form as may be approved by the Board from time to time (the “Grant Agreement”)
                                            and (ii) Brookfield shall transfer to the Participant the Escrowed Shares. A grant of
                                            Escrowed Shares is conditional on the Participant signing the Grant Agreement and the applicable
                                            Unanimous Shareholders’ Agreement.

 

	2.3	Transfer
of Escrowed Shares

 

Except
for transfers to Brookfield or as expressly provided by section 3.4 or the provisions of a Unanimous Shareholders’ Agreement, a
Management Shareholder shall not sell, transfer, assign, mortgage, pledge or otherwise dispose of or cease to be the beneficial holder
of any Escrowed Shares. Certificates for Escrowed Shares shall be endorsed with reference to the restrictions on transfer of such Escrowed
Shares and other provisions contained in the Unanimous Shareholders’ Agreement, as amended or superseded from time to time.

 

	2.4	Vesting
of Escrowed Shares

 

Unless
otherwise determined by the Board, Escrowed Shares will become Vested as to 20% at the first anniversary of the applicable Grant Date
and as to 20% on each subsequent anniversary of the applicable Grant Date up to and including the fifth anniversary of the applicable
Grant Date. Unvested Shares shall be held by an Escrow Agent for the benefit of the Participants. The Participants shall be entitled
to exercise any voting rights associated with the Escrowed Shares, including the Unvested Shares. The Unvested Shares held by the Escrow
Agent for the benefit of a Participant shall be released to the Participant on the date such Escrowed Shares Vest, provided that, a Termination
Date has not occurred in respect of the Participant on or prior to such date.

 

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	2.5	Change
in Employment Status

 

Unless
otherwise determined by the Board, the following provisions apply to the ownership of Escrowed Shares by a Participant (including any
permitted transferee) if a Termination Date has occurred in respect of the Participant (including such permitted transferee, a “Terminated
Participant”):

 

		(a)	In
                                            the event of a termination for Cause, all of the Escrowed Shares of a Terminated Participant
                                            (including the Vested Escrowed Shares) will be subject to purchase pursuant to section 2.6.

 

		(b)	In
                                            the event of a termination other than for Cause (including resignation, Retirement, death
                                            and disability), the Unvested Shares of a Terminated Participant on the Termination Date
                                            will be subject to purchase pursuant to section 2.6.

 

Escrowed
Shares subject to purchase pursuant to section 2.6 are referred to as “Forfeited Shares”. Any Escrowed Shares that
are not Forfeited Shares and are held by a Terminated Participant will continue to be owned by the Terminated Participant and will be
eligible to be purchased or exchanged for Brookfield Shares pursuant to section 2.7 or in the Amalgamation. However, a Terminated Participant
will not be eligible to deliver an Exchange Notice. The Board will have the right to require a Terminated Participant to Exchange his
or her Escrowed Shares that are not Forfeited Shares or the right to Call a Terminated Participant’s Escrowed Shares that are not
Forfeited Shares within 60 days of the applicable Termination Date pursuant to section 2.7(c)(ii).

 

	2.6	Repurchase
on Termination

 

Where
a Termination Date has occurred in respect of a Participant, Brookfield shall have the right to purchase all (but not less than all)
of the Forfeited Shares held by the Terminated Participant. Purchases shall be made for a price of $0.0001 per Forfeited Share, and no
further amount shall be payable to the Participant in respect thereof as compensation, damages or otherwise, including on account of
severance, payment in lieu of notice or damages for wrongful dismissal. Any purchase and sale of Forfeited Shares under the Plan shall
be made for cash within 60 days after the applicable Termination Date.

 

	2.7	Right
of Exchange or Call

 

		(a)	Optional
                                            Exchange. In the case of Escrowed Shares granted by any particular Company, at any time
                                            after the fifth anniversary of the applicable Grant Date (or, in the case of U.S. Participants,
                                            at any time after the first anniversary of the applicable Grant Date), any Management Shareholders
                                            (other than Terminated Participants) (the “Electing Shareholders”) shall
                                            be entitled to elect that Brookfield acquire all or a portion of the Vested Escrowed Shares
                                            the Electing Shareholders hold in exchange for Brookfield Shares (the “Exchange”)
                                            by giving written notice of such election (“Exchange Notice”). Brookfield
                                            shall issue to the Electing Shareholders (either pursuant to an Amalgamation or otherwise)
                                            a number of Brookfield Shares equal to the number of Escrowed Shares being Exchanged multiplied
                                            by the Exchange Amount. Cash will be paid in lieu of fractional Brookfield Shares based on
                                            the Fair Market Value of a Brookfield Share as calculated for purposes of the Exchange Amount.
                                            If requested by an Electing Shareholder, Brookfield will jointly execute and file elections
                                            in prescribed form within the prescribed time under section 85 of the Income Tax Act
                                            (Canada) and the corresponding provisions of applicable provincial income tax statutes in
                                            respect of the transfer hereunder of the Escrowed Shares with the elected amount specified
                                            by such Electing Shareholder.

 

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		(b)	Concurrent
                                            Exchange. If all Management Shareholders of a Company elect an Exchange, then, immediately
                                            following the Exchange (either pursuant to an Amalgamation or otherwise), Brookfield will
                                            cause the Company, Amalco and/or Subco, as applicable, to be wound up or merged into Brookfield
                                            and no less than the number of Brookfield Shares held by one or more Companies, Amalcos and/or
                                            Subcos, as applicable, that equals the number of Brookfield Shares issued by such Company
                                            to Management Shareholders (i) pursuant to the Exchange under this Section 2.7(b) and
                                            section 2.7(b) of the Brazil Sub-Plan, and (ii) pursuant to Section (a) and
                                            section 2.7(a) of the Brazil Sub-Plan at any time prior to such Exchange, to be cancelled
                                            forthwith.

 

		(c)	Mandatory
                                            Exchange or Call.

 

		(i)	Each
                                            Escrowed Share held by Management Shareholders which has not been subject to Exchange prior
                                            to the Settlement Date will be exchanged for Brookfield Shares on the Settlement Date (the
                                            “Call”) (either pursuant to an Amalgamation or otherwise). The number
                                            of Brookfield Shares to be transferred to the Management Shareholder shall be equal to the
                                            number of Escrowed Shares subject to the Call multiplied by the Exchange Amount, and cash
                                            will be paid in lieu of any fractional Brookfield Share based on the Fair Market Value of
                                            a Brookfield Share as calculated on the Settlement Date. Such transfer of Brookfield Shares
                                            shall be made within 5 days of the applicable Settlement Date (or, if the Settlement Date
                                            is during a Blackout Period, within 10 days after the end of the Blackout Period).

 

		(ii)	Where
                                            a Participant has been terminated other than for Cause, Brookfield has the right to Call
                                            the Participant’s Vested Escrowed Shares to be exchanged for Brookfield Shares by giving
                                            written notice of such election (the “Call Notice”) within 60 days of
                                            the Termination Date. The number of Brookfield Shares to be transferred to the Participant
                                            shall be equal to the number of Vested Escrowed Shares subject to the Call multiplied by
                                            the Exchange Amount, and cash will be paid in lieu of fractional Brookfield Shares (which
                                            shall, in any event, be determined based on the Fair Market Value of Brookfield Shares on
                                            the applicable Termination Date). Such transfer of Brookfield Shares shall be made within
                                            10 days of the Call Notice (or if the Call Notice is delivered during a Blackout Period,
                                            within 10 days after the end of the Blackout Period). Where the applicable Termination Date
                                            (other than for a U.S. Participant) is earlier than the fifth anniversary of the applicable
                                            Grant Date, the Brookfield Shares issued by Brookfield through the Exchange will be held
                                            in escrow by the Escrow Agent until the fifth anniversary of the applicable Grant Date.

 

    - 12 -

     

    

 

Section 3

OTHER provisions

 

	3.1	No
Right to Service

 

Neither
participation in the Plan nor any action under the Plan shall be construed to give any Participant a right to be retained in the service
of the Brookfield Group. Nothing in the Plan may be construed to provide any Participant with any rights whatsoever to compensation or
damages in lieu of notice or continued participation in, or entitlements under, the Plan as a consequence of a Participant’s Termination
Date (regardless of the reason for the termination and the party causing the termination, including a termination without Cause). The
Participant’s common law or civil rights to the Escrowed Shares and other property hereunder during any reasonable notice period
including any rights to compensation for the loss, or continued vesting, of the Escrowed Shares during any reasonable notice period may
be limited or removed under the Plan.

 

	3.2	No
Liability for Decrease in Value of Escrowed Shares and / or Brookfield Shares

 

Brookfield
and its Affiliates, and their directors and officers, shall not be liable to any Participant, permitted transferee or legal representative
for any decrease in the value of an Escrowed Share or any Brookfield Share that may occur for any reason.

 

	3.3	Restrictions

 

Each
Company and the Management Shareholders shall be bound by the Brookfield trading policy. In addition, no transfer, purchase or exchange
of securities of a Company (or delivery of an Exchange Notice) may be made during a Blackout Period except with the consent of the Board.

 

	3.4	Permitted
Transfers

 

At
any time and from time to time, Participant may sell or transfer all but not less than all of his or her Escrowed Shares to a trust,
the beneficiaries of which are such Participant’s family members or to a corporation or other entity provided that (i) such
transferee remains at all times while it is a shareholder of the Company under the control (within the meaning of the Business Corporations
Act (Ontario)) of such Participant or another shareholder of the Company who has agreed to be bound by the provisions of this Plan,
and (ii) such transferee shall have agreed prior to such transaction to be bound by the terms of the applicable Unanimous Shareholders’
Agreement, and not to sell, transfer, assign or convey the Escrowed Shares except in accordance with the provisions of such Agreement.
In the event of a transfer under this section 3.4, the transferring shareholder shall continue to be principally liable, jointly and
severally with the transferee, to the other shareholders of the Company and the Company in respect of all of the obligations of the transferee
hereunder, and shall not, as a result of any such transfer, be released from such obligations without the prior written consent of a
majority of the individual shareholders of the Company.

 

    - 13 -

     

    

 

	3.5	Currency

 

References
to $ in this Plan mean United States dollars and all payments and calculations required under this Plan shall be made in United States
dollars.

 

	3.6	Successors
and Assigns

 

The
Plan shall be binding on all successors and assigns of Brookfield and each Participant, including, without limitation, the estate of
such Participant and the executor, administrator or trustee of such estate, or any receiver or trustee in bankruptcy or representative
of the Participant’s creditors.

 

	3.7	Withholdings

 

As
a condition of the issuance of any Escrowed Shares pursuant to the Plan or in connection with any other event that gives rise to a federal,
provincial, state or local tax withholding or deduction obligation on the part of Brookfield relating to an award:

 

		(a)	Brookfield
                                            may deduct or withhold (or cause to be deducted or withheld) from any payment or distribution
                                            to the Participant, whether or not pursuant to the Plan;

 

		(b)	Brookfield
                                            shall be entitled to require that the Participant remit cash to Brookfield; or

 

		(c)	Brookfield
                                            may enter into any other suitable arrangements to withhold or deduct, in each case, in an
                                            amount sufficient in the opinion of Brookfield to satisfy such withholding or deduction obligation.

 

	3.8	Section 83(b) Election

 

A
U.S. Participant may make an election under Section 83(b) of the Code (a “Section 83(b) Election”)
with respect to the Escrowed Shares. Any such election must be made within thirty (30) days after the Grant Date. If the U.S. Participant
elects to make a Section 83(b) Election, the U.S. Participant shall provide Brookfield with a copy of an executed version and
satisfactory evidence of the filing of the executed Section 83(b) Election with the US Internal Revenue Service. The U.S. Participant
agrees to assume full responsibility for ensuring that the Section 83(b) Election is actually and timely filed with the US
Internal Revenue Service and for all tax consequences resulting from the Section 83(b) Election.

 

	3.9	Governing
Law

 

The
validity, construction and effect of the Plan and any actions taken or relating to the Plan shall be governed by and interpreted and
construed in accordance with the laws of the Province of Ontario and the laws of Canada applicable therein.

 

    - 14 -

     

    

 

	3.10	Approval

 

The
Plan was approved by the Board on February 17, 2011 and was approved by the shareholders of Brookfield at its Annual General and
Special Meeting of Shareholders held May 11, 2011.

 

	3.11	Amendments

 

Amendments
to the Plan were approved by the Board on May 11, 2011, February 16, 2012, February 25, 2014, May 12, 2015, May 9,
2018, September 13, 2019, February 13, 2020, April 1, 2020, December 7, 2021 and September 23, 2022.

 

On
May 11, 2011, shareholders approved an amendment to the Plan permitting each escrowed stockholder the ability to exchange Escrowed
Shares for Brookfield Shares separately rather than concurrently.

 

On
February 16, 2012, the Plan was amended to permit the purchase of Class A Limited Voting Shares indirectly and directly. The
vesting terms were also amended to be consistent with other Brookfield equity-based plans.

 

On
February 25, 2014, the Plan was amended to permit U.S. taxpayers to participate.

 

On
May 12, 2015, the Plan was amended to remove the ability to exchange Escrowed Shares for cash and to increase the maximum number
of Brookfield Shares reserved under the Plan from 6,000,000 to 9,000,000 resulting from the three-for-two stock split on May 12,
2015.

 

On
May 9, 2018, the Plan was amended to provide that: (i) the number of Brookfield Shares previously deducted from the Specified
Maximum as a result of Optional Exchanges will be added back to the Specified Maximum on the wind-up or merger of the applicable Amalco,
Company and/or Subco; and (ii) the number of Brookfield Shares to be cancelled on the wind-up or merger of any Amalco, Company and/or
Subco will be no less than the number of Brookfield Shares issued by the relevant Company to Management Shareholders on Exchanges.

 

On
September 13, 2019, the Plan was amended to provide that for purposes of determining the Fair Market Value on the Grant Date, the
Fair Market Value shall be calculated for the period of five trading days immediately preceding such Grant Date, regardless of whether
the grant is approved by the Board during a Blackout Period or not.

 

On
February 13, 2020, the Plan was amended to include a sub-plan, the terms of which shall apply to Escrowed Shares offered to Participants
in Brazil (the “Brazil Sub-Plan” and, together with the Plan, the “Escrowed Plans”).

 

On
April 1, 2020, the Plan was amended to increase the maximum number of Brookfield Shares reserved under the Plan from 9,000,000 to
13,500,000 resulting from the three-for-two stock split on April 1, 2020.

 

On
December 7, 2021, the Plan was amended to provide that the definition of “Affiliate” includes entities with outstanding
securities that are exchangeable into Brookfield Shares, to permit Subcos to hold securities exchangeable into Brookfield Shares and
to clarify the definition of Termination Date and what will be considered a period of employment.

 

    - 15 -

     

    

 

On
September 23, 2022, the Plan was amended to provide that the Settlement Date can be earlier than the tenth anniversary of the Grant
Date and the Brookfield Shares to be cancelled on the wind-up or merger of any Amalco, Company and/or Subco can be cancelled by any one
or more Amalcos, Companies and/or Subcos.

 

    - 16 -Document

Exhibit 10.3

												
	Notice of Grant of Award
and Award Agreement	Integra LifeSciences Holdings Corporation
ID:  51-0317849
1100 Campus Road
Princeton, New Jersey 08540

	[Name]
[Address]
	Award Number: [Award#]    
Plan:                   [Plan#]    
ID:                      [EMP ID]
	Effective [Grant Date], you have been granted [Total Shares] Restricted Stock Units (RSUs) based on a closing price of US$[IART Close Price].  These units are restricted until the vest dates shown below, at which time you will receive shares of Integra LifeSciences Holdings Corporation (the “Company”) common stock.
The award will vest in increments in the dates shown:
Shares    Full Vest Date
[Tranche 1 Shares]    [Vest Date 1]
[Tranche 2 Shares]    [Vest Date 2]
[Tranche 3 Shares]    [Vest Date 3]

	By your signature and the Company’s signature below, you and the Company agree that this Award is granted under and governed by the terms and conditions of the Company’s Award Plan as amended and the Award Agreement, all of which are attached and made a part of this document.
	

		

	Integra LifeSciences Holdings Corporation		Date
	

		
	[Name]		Date
			

INTEGRA LIFESCIENCES HOLDINGS CORPORATION 
CONTRACT STOCK / RESTRICTED UNITS AGREEMENT
Pursuant to 
2003 EQUITY INCENTIVE PLAN 

CONTRACT STOCK / RESTRICTED UNITS AGREEMENT, dated as of [Grant Date], by and between Integra LifeSciences Holdings Corporation, a Delaware corporation (the “Company”), and [Name] (the “Executive”).
WHEREAS, the Company maintains the Integra LifeSciences Holdings Corporation Fifth Amended and Restated 2003 Equity Incentive Plan (the “Plan”), the terms of which are hereby incorporated by reference and made part of this Agreement;
WHEREAS, the Plan provides for the award of Contract Stock on the terms and conditions set forth therein; and
WHEREAS, the Committee has determined that, as an inducement to the Executive to enter into or remain in the service of the Company, it would be to the advantage and in the best interest of the Company and its stockholders to grant to Executive an aggregate of [Total Shares] shares of Contract Stock under the Plan in the form of restricted units (the “Units”), representing the right to receive an equal number of shares of common stock of the Company, par value $.01 per share (“Common Stock”), on the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration the legal sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:
1.  Definitions.  Capitalized terms not otherwise defined herein shall have the meanings set forth in the Plan, unless otherwise indicated.
2.  Grant of Units.  Executive is hereby granted, as of [Grant Date] (the “Grant Date”), [Total Shares] Units pursuant to the terms of this Agreement and the Plan.  The Executive’s right to receive the shares of Common Stock underlying the Units shall be subject to forfeiture as provided in Section 4 of this Agreement.
3.  Vesting.  
    (a)    Subject to paragraph (b) and Section 4 below, the Units shall vest in cumulative installments as follows:
(i)    [Tranche 1 Shares] of the Units shall vest on the [Vest Date 1] anniversary of the Grant Date;
(ii)    [Tranche 2 Shares] of the Units shall vest on the [Vest Date 2] anniversary of the Grant Date; and
(iii)    [Tranche 3 Shares] of the Units shall vest on the [Vest Date 3] anniversary of the Grant Date;
    (b)    One hundred percent (100%) of the then outstanding Units shall vest in the event that:

(i)    the Executive incurs a Termination of Service (as defined below) (1) by reason of the Executive’s “Disability” (as defined in the Plan), or (2) by reason of the Executive’s death; 
(ii)    a Change in Control occurs, and the Executive incurs a Qualifying Termination on or within twenty-four (24) months following the date of such Change in Control. 
    (c)    For purposes of this Agreement, “Qualifying Termination” means a Termination of Service by the Company without Cause or by the Executive for Good Reason.    
    (d)    For purposes of this Agreement, “Termination of Service” shall mean the time when the Executive ceases to provide services to the Company and its Related Corporations and Affiliates as an employee or Associate for any reason with or without Cause, including, but not by way of limitation, a termination by resignation, discharge, death, or disability.  A Termination of Service shall not include a termination where the Executive is simultaneously reemployed by, or remains employed by, or continues to provide services to, the Company and/or one or more of its Related Corporations and Affiliates or a successor entity thereto.
4.  Forfeiture of Units.  Immediately upon (i) if prior to a Change in Control or more than 24 months following a Change in Control, in either case, a Termination of Service for any reason other than the Executive’s death or Disability or (ii) if on or within 24 months following a Change in Control, a Termination of Service for any reason other than the Executive’s death, Disability or Qualifying Termination, the Executive shall forfeit any and all Units which have not vested or do not vest on or prior to such termination, and the Executive’s rights in any such Units which are not so vested shall terminate, lapse and expire (including the Executive’s right to receive the shares underlying such Units).
5.  [RESERVED].
6.  Payment of Units.  
    (a)    The shares of Common Stock underlying Units (“Unit Shares”) which become vested under Section 3 shall be paid out to Executive within thirty (30) days following the date on which the Units vest pursuant to Section 3.
(b)    All payments of shares of Common Stock underlying Units shall be made by the Company in the form of whole shares of Common Stock, and any fractional share shall be distributed in cash in an amount equal to the value of such fractional share determined based on the Fair Market Value (as defined in the Plan) as of the date immediately prior to such distribution.
    (d)    Except as otherwise provided in this Agreement, Executive shall not be deemed to be a holder of any Common Stock pursuant to a Unit until the date of the issuance of a certificate to him for such shares and, except as otherwise provided in this Agreement, Executive shall not have any rights to dividends or any other rights of a shareholder with respect to the shares of Common Stock covered by a Unit until such shares of Common Stock have been issued to him, which issuance shall not be unreasonably delayed.  
    (e)    The Company shall be entitled to withhold in cash, shares or deduction from other compensation payable to the Executive any sums required by federal, state or local tax law to be withheld with respect to the grant, vesting, distribution or payment of the Units or the Unit Shares.  In satisfaction of the foregoing requirement with respect to the grant, vesting, distribution or payment of the Units or Unit Shares, to the extent permitted by Section 409A of 
2

the Internal Revenue Code of 1986, as amended (the “Code”) and its corresponding regulations), including Treas. Reg. Section 1.409A-3(j)(4)(vi), the Company shall withhold shares of Common Stock otherwise issuable upon payment of the Units having a Fair Market Value equal to the sums required to be withheld.  In the event that the number of shares of Common Stock having a Fair Market Value equal to the sums required to be withheld is not a whole number of shares, the number of shares so withheld shall be rounded up to the nearest whole share. 
    (f)    Executive’s right to receive payment of any amounts under this Agreement shall be an unfunded entitlement and shall be an unsecured claim against the general assets of the Company.  
    (g)    After payment in accordance with this Section 6, the Unit Shares may not be sold, transferred or otherwise disposed of by Executive for a period of five days after receipt of such shares by Executive, except that no such restrictions shall apply in the case of a Change in Control or in the event that Unit Shares are sold or withheld in order to satisfy any obligations Executive may have with respect to any applicable tax withholding requirements on vesting or receipt of Unit Shares (including, without limitation, pursuant to Section 6(e) above).  
7.  Clawback.  Notwithstanding anything contained in the Plan or this Agreement to the contrary, the Units and shares of Common Stock represented by the Units shall be subject to the provisions of any clawback, repayment or recapture policy implemented by the Company, including any such policy adopted to comply with applicable law (including without limitation the Dodd-Frank Wall Street Reform and Consumer Protection Act) or securities exchange listing standards and any rules or regulations promulgated thereunder, to the extent set forth in such policy and/or in any notice or agreement relating to the Units and shares of Common Stock under the Plan.
8.  Representations.  The Company represents and warrants that this Agreement has been authorized by all necessary action of the Company, has been approved by the Board and is a valid and binding agreement of the Company enforceable against it in accordance with its terms and that the Unit Shares will be issued pursuant to and in accordance with the Plan, will be listed with NASDAQ or the principal United States securities exchange on which the Common Stock is admitted to trading, and will be validly issued, fully paid and non-assessable shares.  The Company further represents and warrants that the grant of Units under this Agreement has been approved by the Company’s Compensation Committee, that the Plan has and will have sufficient shares available to effect the distribution of the Unit Shares.  
9.  No Right to Employment.  Nothing in this Agreement shall confer upon Executive the right to remain in employ of the Company or any subsidiary of the Company.  
10.  Nontransferability.  This Agreement shall not be assignable or transferable by the Company (other than to successors of the Company) and this Agreement and the Units shall not be assignable or transferable by the Executive otherwise than by will or by the laws of descent and distribution, and the Units may be paid out during the lifetime of the Executive only to him.  More particularly, but without limiting the generality of the foregoing, the Units may not be assigned, transferred (except as provided in the preceding sentence), pledged, or hypothecated in any way (whether by operation of law or otherwise), and shall not be subject to execution, attachment or similar process.  Any attempted assignment, transfer, pledge, hypothecation or other disposition of the Units contrary to the provisions of this Agreement, and any levy of any attachment or similar process upon the Units, shall be null and void and without effect.  
11.  Entire Agreement.  This Agreement contains all the understandings between the parties hereto pertaining to the matters referred to herein, and supersedes all undertakings and agreements, whether oral or in writing, previously entered into by them with respect thereto.  The 
3

Executive represents that, in executing this Agreement, he does not rely and has not relied upon any representation or statement not set forth herein made by the Company with regard to the subject matter, basis or effect of this Agreement or otherwise.  
12.  Amendment or Modification; Waiver.  No provision of this Agreement may be amended, modified or waived unless such amendment or modification is agreed to in writing, signed by the Executive and by a duly authorized officer of the Company, and such waiver is set forth in writing and signed by the party to be charged.  No waiver by any party hereto of any breach by another party hereto of any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of a similar or dissimilar condition or provision at the same time, any prior time or any subsequent time.  
13.  Notices.  Any notice to be given hereunder shall be in writing and shall be deemed given when delivered personally, sent by courier or telecopy or registered or certified mail, postage prepaid, return receipt requested, addressed to the party concerned at the address indicated below or to such other address as such party may subsequently give notice of hereunder in writing: 
To the Executive: at Executive’s most recent address on the records of the Company
To the Company: 
Integra LifeSciences Holdings Corporation
1100 Campus Road
Princeton NJ 08540
Attention: Chairman 
Facsimile: 609-275-9006 
(with a copy to the Company’s General Counsel) 
Any notice delivered personally or by courier under this Section 13 shall be deemed given on the date delivered and any notice sent by telecopy or registered or certified mail, postage prepaid, return receipt requested, shall be deemed given on the date telecopied or mailed.  
14.  Severability.  If any provision of this Agreement or the application of any such provision to any party or circumstances shall be determined by any court of competent jurisdiction to be invalid and unenforceable to any extent, the remainder of this Agreement or the application of such provision to such person or circumstances, other than those to which it is so determined to be invalid and unenforceable, shall not be affected thereby, and each provision hereof shall be validated and shall be enforced to the fullest extent permitted by law.  
15.  Noncontravention.  The Company represents that the Company is not prevented from entering into, or performing, this Agreement by the terms of any law, order, rule or regulation, its certificate of incorporation or by-laws, or any agreement to which it is a party.  
16.  Survivorship.  The respective rights and obligations of the parties hereunder shall survive any termination of this Agreement or Executive’s employment to the extent necessary for the intended preservation of such rights and obligations.  
17.  Successors.  This Agreement shall inure to the benefit of and be binding upon each successor of the Company, and upon the Executive’s beneficiaries, legal representatives or estate, as the case may be.  
4

18.  Construction.  Except as would be in conflict with any specific provision herein, this Agreement is made under and subject to the provisions of the Plan as in effect on the Grant Date and, except as would conflict with the provisions of this Agreement, all of the provisions of the Plan as in effect on the Grant Date are hereby incorporated herein as provisions of this Agreement.  In the event of any such conflict, the terms of this Agreement shall govern.
19.  Governing Law.  This agreement will be governed by and construed in accordance with the laws of the State of Delaware, without regard to its conflicts of laws principles.  
20.  Headings.  All descriptive headings of sections and paragraphs in this Agreement are for convenience of reference only, and they form no part of this Agreement and shall not affect its interpretation.  
21.  Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  
22.  Section 409A of the Code.  This Agreement is intended to be exempt from or comply with the requirements of Section 409A of the Code and shall in all respects be administered and interpreted in accordance with Section 409A.  Notwithstanding any other provision of this Agreement, the Company shall have the right in its sole discretion (without any obligation to do so or to indemnify Holder or any other person for failure to do so) to adopt such amendments to the Plan or this Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Company determines are necessary or appropriate either for the Units to be exempt from the application of Section 409A or to comply with the requirements of Section 409A. Nothing in this Agreement, shall provide a basis for any person to take action against the Company based on matters covered by Section 409A of the Code, including the tax treatment of any amount paid or Units granted under this Agreement, and the Company shall have no liability to Executive or his or her estate or any other party for any taxes, penalties or interest due on amounts paid or payable under this Agreement, including taxes, penalties or interest imposed under Section 409A.  Notwithstanding anything in the Agreement to the contrary, to the extent the Units constitute non-qualified deferred compensation under Section 409A of the Code (“Deferred Compensation”), payment may only be made under the Agreement upon an event or a date and in a manner permitted by Section 409A of the Code.  To the extent the Units constitute Deferred Compensation, any payment to be made on the date of, or a date that is by reference of, Executive’s termination of employment under this Agreement shall not be made unless and until Executive experiences a “separation from service” within the meaning of the Code and its corresponding regulations, and if Executive is a “specified employee” within the meaning of the Code and its corresponding regulations shall be made within thirty (30) days following the first business day that occurs immediately following the 6-month period after the date of Executive’s “separation from service.”   To the extent that any provision of the Agreement would cause a conflict with the requirements of Section 409A of the Code or would cause the administration of the Agreement to fail to satisfy the requirements of Section 409A, such provision shall be deemed null and void to the extent permitted by applicable law.

[Signature page follows]

5

IN WITNESS WHEREOF, the parties hereto have executed this Contract Stock / Restricted Units Agreement as of the date first above written.  

INTEGRA LIFESCIENCES HOLDINGS CORPORATION

            

By:  ___________________________________
Name:      
Title:    

EXECUTIVE

___________________________________
[Name]
6

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