Document:

Exhibit

Exhibit 10.4

EDWARDS LIFESCIENCES CORPORATION
2001 EMPLOYEE STOCK PURCHASE PLAN
FOR INTERNATIONAL EMPLOYEES

(As Amended and Restated May 7, 2020)

    

Edwards Lifesciences Corporation
2001 Employee Stock Purchase Plan
For International Employees

(As Amended and Restated May 7, 2020)1 

ARTICLE I -- PURPOSE
		
	1.01.  
	Purpose

The Edwards Lifesciences Corporation 2001 Employee Stock Purchase Plan for International Employees is intended to provide a method whereby certain employees of participating subsidiary companies of Edwards Lifesciences Corporation (the “Company”) authorized by the Committee (or an officer designated by the Committee pursuant to Section 9.02) to extend the benefits of the Plan to their Eligible Employees will have an opportunity to acquire a proprietary interest in the Company through the purchase of shares of the Company’s common stock.

The Plan was initially adopted by the Board on February 8, 2001, and subsequently amended and restated by the Board on February 20, 2003, September 13, 2005, July 9, 2009, November 10, 2009, February 20, 2014 and May 7, 2020.

ARTICLE II -- DEFINITIONS
		
	2.01.  
	Base Pay

"Base Pay" shall mean regular straight-time earnings (including compensation paid to a representative director or non-employee director of a Participating Company) plus commissions (where legally permissible and administratively feasible as determined by the Company in its sole discretion) and payments in lieu of regular earnings and any legally mandated bonus or other pay.  In the case of a part-time hourly employee, such employee's base pay during an Offering shall be determined by multiplying such employee's hourly rate of pay by the number of regularly scheduled hours of work for such employee during such Offering.

		
	2.02.  
	Change in Control

“Change in Control” of the Company shall mean the occurrence of any one of the following events:
		
	(a)
	Any “Person”, as such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than the Company, any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, and any trustee or other fiduciary holding securities under an employee benefit plan of the 

1Share limits reflect stock splits and stock dividends through June 2020.

Company or such proportionately owned corporation), is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing thirty percent (30%) or more of the combined voting power of the Company’s then outstanding securities; or 
		
	(b)
	During any period of not more than twenty-four (24) months, individuals who at the beginning of such period constitute the Board of Directors of the Company, and any new director (other than a director designated by a Person who has entered into an agreement with the Company to effect a transaction described in Sections 2.02(a), 2.02(c), or 2.02(d) of this Section 2.02) whose election by the Board or nomination for election by the Company’s stockholders was 

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approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority thereof; or 
		
	(c)
	The consummation of a merger or consolidation of the Company with any other entity, other than: (i) a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than sixty percent (60%) of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; or (ii) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person acquires more than thirty percent (30%) of the combined voting power of the Company’s then outstanding securities; or

		
	(d)
	The Company’s stockholders approve a plan of complete liquidation or dissolution of the Company, or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets (or any transaction having a similar effect).

		
	2.03.  
	Code

“Code” shall mean the United States Internal Revenue Code of 1986, as amended.

		
	2.04.  
	Committee

"Committee" shall mean the individuals appointed by the Company to administer the Plan as described in Article IX.

2.05.      Company

“Company” shall mean Edwards Lifesciences Corporation.

2.06.      Corporate Affiliate

“Corporate Affiliate” shall mean any parent or subsidiary corporation or limited liability company of the Company (as determined in accordance with Code section 424) whether now existing or subsequently established.
		
	2.07.  
	Conversion Rate

“Conversion Rate” shall mean with respect to any non-United States currency, the rate established by the Company’s Corporate Treasury Department for purposes of converting such currency to United States dollars.

		
	2.08.  
	Eligible Employee

"Eligible Employee" means, unless local laws prohibit or require such employee’s participation in the Plan, any regular employee of a Participating Company who is scheduled to work 20 or more hours per week or a representative director or non-employee director of a Participating Company.  Eligible Employee shall also mean any other employee of a Participating Company to the extent that local law requires the Plan to be extended to such employee.   The Committee shall designate the Corporate Affiliates that shall be eligible to participate in the Plan.

		
	2.09.  
	Enrollment Period

"Enrollment Period" shall mean with respect to any Offering, the period designated by the Committee prior to such Offering during which Eligible Employees may authorize payroll deductions (or, if payroll deductions are not permitted or advisable under local law, other means of contributions specified by the Committee) through a Subscription.  Unless the Committee determines otherwise, the Enrollment Period with respect to any Offering shall 

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end on the twenty-fifth day of the month immediately preceding the Offering Commencement Date and any Subscription received after such date shall be deemed to be an enrollment in the next following Offering.  

		
	2.10.  
	Exchange Act

“Exchange Act” shall mean the United States Securities Exchange Act of 1934, as amended from time to time, or any successor thereto.

		
	2.11.  
	Fair Market Value  

The “Fair Market Value” of a share of Stock on a given day shall be determined as follows:  (i) if the Stock is listed on any established stock exchange or a national market system, (a) for any date of determination except the Purchase Date, Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sale is reported) as quoted on such exchange or system for the last market trading day prior to the time of determination, as reported in The Wall Street Journal or such other source as the Committee deems reliable; (b) for the Purchase Date, Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sale is reported) as quoted on such exchange or system on the Purchase Date, as reported in The Wall Street Journal or such other source as the Committee deems reliable, or (ii) in the absence of an established market for the Stock, the Fair Market Value thereof shall be determined in good faith by the Committee.

		
	2.12.  
	Offering

“Offering” shall mean the quarterly offering of the Company’s Stock, the duration of which shall not exceed twenty seven (27) months.
		
	2.13.  
	Offering Commencement Date

“Offering Commencement Date” shall mean June 1, 2001 and, unless determined otherwise by the Committee, the first day of each calendar quarter thereafter.

		
	2.14.  
	Offering End Date

"Offering End Date" shall mean, with respect to each Offering beginning prior to July 1, 2007, the first to occur of the day preceding the second annual anniversary of the Offering Commencement Date or the day preceding July 1, 2007, unless determined otherwise by the Committee prior to the Offering Commencement Date or such date as determined pursuant to Section 6.04.  “Offering End Date” shall mean, with respect to each Offering beginning on or after July 1, 2007, the day preceding the first annual anniversary of the Offering Commencement Date, unless determined otherwise by the Committee prior to the Offering Commencement Date or such date as determined pursuant to Section 6.04.

		
	2.15.  
	Participant

“Participant” shall mean an Eligible Employee who has elected to participate in an Offering by entering a Subscription during the Enrollment Period for such Offering.

		
	2.16.  
	Participating Company

“Participating Company” shall mean each Corporate Affiliate as may be authorized from time to time by the Committee to extend the benefits of the Plan to their Eligible Employees and set forth in Appendix A of this Plan.  The Committee may determine that some Eligible Employees of a Participating Company shall not be offered participation in the Plan.

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	2.17.  
	Plan

"Plan" shall mean the Edwards Lifesciences Corporation 2001 Employee Stock Purchase Plan for International Employees, as amended from time to time.

		
	2.18.  
	Purchase Date

“Purchase Date” shall mean with respect to any Offering, the last day of each calendar quarter (or such other dates determined by the Committee prior to the Offering Commencement Date or pursuant to Section 6.04) during the period beginning with the Offering Commencement Date for such Offering and ending with the Offering End Date; provided, however, if any such day is not a business day, the Purchase Date shall be the next preceding business date on which shares of Stock are traded.

		
	2.19.  
	Stock

“Stock” shall mean the common stock, par value US$1.00, of the Company.

		
	2.20.  
	Subscription

“Subscription” shall mean an Eligible Employee’s authorization for payroll deductions or contributions, as applicable, made in the form and manner specified by the Committee (which may include enrollment by submitting forms, by voice response, internet access or other electronic means).  Unless withdrawn earlier in accordance with Section 6.02, each Subscription shall be in effect for the duration of the Offering to which it applies.  No more than one Subscription may be in effect for an Eligible Employee during any calendar quarter.

ARTICLE III -- ELIGIBILITY AND PARTICIPATION
		
	3.01.  
	Initial Eligibility

Any individual who is an Eligible Employee on an Offering Commencement Date shall be eligible to participate in the Offering commencing on such date, subject to the terms and conditions of the Plan.

		
	3.02.  
	Leave of Absence

For purposes of participation in the Plan, a Participant on a leave of absence shall be deemed to be an Eligible Employee for a period of up to 90 days or, if longer, during the period the Participant’s right to reinstatement as an employee or non-employee director of a Participating Company is guaranteed by statute or contract.  If the leave of absence is paid, deductions authorized under any Subscription in effect at the time the leave began will continue.  If the leave of absence is unpaid, no deductions or contributions will be permitted during the leave unless this provision is contrary to applicable local law.  If such a Participant returns to active status within 90 days or the guaranteed reemployment period, as applicable, payroll deductions or contributions, as applicable, under the Subscription in effect at the time the leave began will automatically begin again upon the Participant's return to active status, unless the Subscription has expired.  If the Participant does not return to active status within 90 days or the guaranteed reinstatement period, as applicable, the Participant shall be treated as having terminated service for all purposes of the Plan, unless otherwise required under local law.  If such terminated Participant later returns to active service as an Eligible Employee or if a Participant returns to active service as an Eligible Employee after the Subscription has expired, such individual will be eligible to participate in Offerings commencing after his or her new service start date by filing a Subscription during the applicable Enrollment Period for such Offering.

		
	3.03.  
	Restrictions on Participation

Notwithstanding any provisions of the Plan to the contrary, no Eligible Employee shall be granted a right to purchase Stock: (a) if, immediately after the grant, such individual would own Stock, and/or hold outstanding 

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options to purchase Stock, possessing 5% or more of the total combined voting power or value of all classes of the Company’s stock (for purposes of this paragraph, the rules of Section 424(d) of the Code shall apply in determining stock ownership of any individual); or (b) which permits the individual’s rights to purchase Stock under all employee stock purchase plans of the Company to accrue at a rate which exceeds $25,000 in Fair Market Value of the Stock (determined at the time such right to purchase Stock is granted) for each calendar year in which such right is outstanding.  Further, the Committee may additionally limit the number of shares of Stock or contributions per Eligible Employee made available for purchase under the Plan by Eligible Employees in certain countries, locations or Participating Companies, if necessary or advisable to avoid securities law filings, achieve tax objectives or to meet or facilitate other Company compliance objectives in particular locations outside the U.S.

Further, with respect to any Offering, in no event shall an individual be granted a right to purchase in excess of 10,000 shares of Stock, subject to adjustment pursuant to Section 10.03.

		
	3.04.  
	Commencement of Participation

An Eligible Employee may become a Participant in any Offering by entering a Subscription during the Enrollment Period for such Offering. Payroll deductions or contributions, as applicable, for such Offering shall commence on the applicable Offering Commencement Date and shall end on the applicable Offering End Date unless withdrawn by the Participant or sooner terminated in accordance with Article VII.  Only one Subscription may be in effect with respect to any Participant at any one time.

		
	3.05.  
	Participation After Rehire

An Eligible Employee’s Subscription will automatically terminate on the date he or she is no longer providing service to any Participating Company.  If the Eligible Employee terminates service with a Subscription in effect with respect to an Offering and is reinstated prior to the Offering End Date for that Offering, the Subscription will not be reinstated and the Eligible Employee will not be allowed to again make payroll deductions or contributions, as applicable, under such Offering.  The Eligible Employee may elect to participate in Offerings commencing after his or her reinstatement date by entering a Subscription during the applicable Enrollment Period for such Offering.  Notwithstanding the foregoing, an Eligible Employee’s transfer from one Participating Company to another shall not terminate such Eligible Employee’s Subscription.

3.06.      Transfers

An Eligible Employee’s transfer from one Participating Company under this Plan to another shall not terminate such Eligible Employee’s Subscription.  

If an Eligible Employee transfers to the Company or a Corporate Affiliate that is not a Participating Company under this Plan, the individual will be treated as a terminated Participant under this Plan.  The individual may become eligible to participate in the Company’s stock purchase plan for United States employees if the individual is transferred to the Company or a subsidiary or affiliate of the Company that is designated to participate in the stock purchase plan for United States employees subject to the terms and conditions set forth in that plan.  

ARTICLE IV -- OFFERINGS
		
	4.01.  
	Quarterly Offerings

The Plan commenced with an Offering beginning on June 1, 2001 and, unless determined otherwise by the Committee, will continue in operation with a new Offering commencing on the first day of each calendar quarter thereafter. Eligible Employees may not have in effect more than one Subscription at a time.

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Participants may subscribe to any Offering by entering a Subscription during the Enrollment Period for such Offering in such manner as the Committee may prescribe (which may include enrollment by submitting forms, by voice response, internet access or other electronic means).

A Subscription that is in effect on an Offering End Date will automatically be deemed to be a Subscription for the Offering that commences immediately following such Offering End Date, provided that the Participant is still an Eligible Employee and has not withdrawn the Subscription. Under the foregoing automatic enrollment provisions, payroll deductions or contributions, as applicable, will continue at the level in effect immediately prior to the new Offering Commencement Date, unless changed in advance by the Participant in accordance with Section 5.03.

		
	4.02.  
	Purchase Price

The purchase price per share of Stock under each Offering shall be the lower of:

		
	(a)
	85% of the Fair Market Value of the Stock on the Offering Commencement Date; or

		
	(b)
	85% of the Fair Market Value of the Stock on the Purchase Date.

Such purchase price may only be paid with accumulated payroll deductions subject to and in accordance with Article V.

ARTICLE V -- PAYROLL DEDUCTIONS
		
	5.01.  
	Amount of Deduction

An Eligible Employee’s Subscription shall authorize payroll deductions at a rate, in whole percentages, of no less than 1% and no more than 12% of Base Pay on each payday that the Subscription is in effect, unless payroll deductions are not permitted or advisable under local laws, in which case, an Eligible Employee may contribute by such other means as specified by the Committee subject to the contribution limits specified in this section.

		
	5.02.  
	Participant's Account

All payroll deductions or contributions, as applicable, made with respect to a Participant shall be credited to his or her recordkeeping account under the Plan unless a separate bank account is required to be set up under applicable local law.  A Participant may not make any separate cash payment into such account unless required under applicable local law.  Unless required by local law, no interest will accrue or be paid on any amount withheld from a Participant’s pay under the Plan or credited to the Participant’s account.  Except in the case that any purchase limits set forth under the Plan would be exceeded, all amounts in a Participant’s account will be used to purchase shares of Stock and no cash refunds shall be made from such account.  Shares of Stock issued may be whole shares and/or fractional shares.  Any amounts that are withheld but unable to be applied to the purchase of Stock because of the limitations of Section 3.03 shall be returned to the Participant without interest and will not be used to purchase shares with respect to any other Offering under the Plan.

		
	5.03.  
	Changes in Payroll Deductions

During an Offering, a Participant may change his or her level of payroll deduction or contributions, as applicable with respect to such Offering within the limits described in Section 5.01 in accordance with procedures established by the Committee (including, without limitation, rules relating to the frequency of such changes); provided, however, if the Participant reduces his or her payroll deductions or contributions, as applicable, to zero, it shall be deemed to be a withdrawal of the Subscription and the Participant may not thereafter participate in such Offering but must wait until the next Offering to resubscribe to the Plan.  Any such discontinuance or change in level shall be effective as soon as administratively practicable.

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ARTICLE VI --EXERCISE OF RIGHTS TO PURCHASE STOCK
		
	6.01.  
	Automatic Exercise

A Participant’s right to purchase Stock with respect to any Offering will be automatically exercised on each Purchase Date for the Offering.  The right to purchase Stock will be exercised by using the accumulated payroll deductions in the Participant’s account as of each such Purchase Date or contributions, as applicable, to purchase the number of shares of Stock that may be purchased at the purchase price on such date, determined in accordance with Section 4.02.  If the Participant is paid in a non-United States currency, the Participant’s accumulated payroll deductions or contributions shall be converted into United States dollars using the Conversion Rate in effect on the Purchase Date.

		
	6.02.  
	Withdrawal From Offering

A Participant may not withdraw the accumulated payroll deductions in his or her account during an Offering unless the Committee determines otherwise for local law reasons.  If the Participant withdraws his or her Subscription with respect to any Offering, the accumulated payroll deductions or contributions, as applicable, in the Participant’s account at the time the Subscription is withdrawn will be used to purchase shares of Stock at the next Purchase Date for the Offering to which the Subscription related, in accordance with Section 6.01.  Notwithstanding the foregoing, in the event a Participant withdraws his or her Subscription with respect to an Offering and terminates his or her service prior to the next Purchase Date for which the Participant’s accumulated payroll deductions or contributions would be used to purchase shares of Stock, then Participant’s accumulated payroll deductions or contributions shall be refunded to Participant in accordance with Section 7.02.

		
	6.03.  
	Delivery of Stock

Stock purchases under the Plan will be held in an account in the Participant’s name in uncertificated form unless certification is requested by the Participant.  Furthermore, Stock to be delivered to a Participant under the Plan will be registered in the name of the Participant.

		
	6.04.  
	Change in Control

If pursuant to a Change in Control rights to purchase Stock are not assumed or otherwise continued in full force and effect, then each right to purchase Stock under each Offering in effect at the time of the Change in Control shall automatically be exercised, immediately prior to the effective date of any Change in Control, by applying the payroll deductions or contributions, as applicable, of each Participant for the Offering in which such Change in Control occurs to the purchase of shares of Stock at a purchase price per share equal to eighty-five percent (85%) of the lower of (i) the Fair Market Value per share of Stock on the start date of the applicable Offering or (ii) the Fair Market Value per share of Stock immediately prior to the effective date of such Change in Control.

ARTICLE VII --WITHDRAWAL
		
	7.01.  
	Effect on Subsequent Participation

The Committee shall have the authority to decide the Participant’s eligibility to participate in any succeeding Offering if Participant withdraws from an Offering.

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	7.02.  
	Termination of Employment

Upon termination of the Participant's service with a Participating Company for any reason that results in the Participant not qualifying as an Eligible Employee, any Subscription then in effect will be deemed to have been withdrawn and any payroll deductions or contributions, as applicable, credited to the Participant’s account will be promptly refunded to such Participant in the currency in which such Participant is paid by his or her Participating Company.  

7.03.  Effect of Hardship Rules

At the discretion of the Company, the Company may cancel or suspend a Participant from participating in the Plan if the Participant claims a hardship with respect to his/her participation in any applicable benefit program and pursuant to the applicable benefit program, the Participant cannot be permitted to continue to participate in the Plan.  If cancellation or suspension is required, the Company will determine whether accumulated contributions should be refunded or may be held to purchase shares on the next Purchase Date and when the Participant will become eligible to participate in the Plan in the future.

ARTICLE VIII --STOCK
		
	8.01.  
	Maximum Shares

The maximum number of shares which may be issued under the Plan, subject to adjustment upon changes in capitalization of the Company as provided in Section 10.03, shall be Nine Million Six Hundred Thousand (9,600,000) shares. If the total number of shares for which rights to purchase Stock are exercised on any Purchase Date exceeds the maximum number of shares available for issuance, the Company shall make a pro rata allocation of the shares available for delivery and distribution in as nearly a uniform manner as shall be practicable and as it shall determine to be equitable, and the balance of payroll deductions or contributions, as applicable, credited to the account of each Participant under the Plan shall be returned to him as promptly as possible.

		
	8.02.  
	Participant's Interest in Rights to Purchase Stock

The Participant will have no interest in Stock covered by a right to purchase Stock under the Plan until such right has been exercised.

ARTICLE IX -- ADMINISTRATION
		
	9.01.  
	Appointment of Committee

The Company’s Board of Directors shall appoint a Committee to administer the Plan. No member of the Committee who is not an Eligible Employee shall be eligible to purchase Stock under the Plan.

		
	9.02.  
	Authority of Committee

Subject to the express provisions of the Plan, the Committee shall have plenary authority in its discretion to interpret and construe any and all provisions of the Plan, to adopt rules and regulations for administering the Plan, to adopt sub-plans creating additional rules and restrictions for participation and to make all other determinations deemed necessary or advisable for administering the Plan.  Without limiting the generality of the foregoing, the Committee specifically is authorized to adopt rules and regulations regarding the handling of payroll deductions, payment of interest, conversion of local currency, payroll tax, withholding procedures, participation limits and handling of stock certificates which vary with local requirements.  The Committee shall also have full power and authority to determine whether, to what extent and under what circumstances any Eligible Employee’s participation in the Plan shall be cancelled or suspended as a result of applicable hardship rules or similar rules, as determined at the sole 

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discretion of the Committee. The Committee's determination on the foregoing matters shall be conclusive.  The Committee shall also have the authority to determine if and when individuals working for Corporate Affiliates organized or acquired after the Effective Date shall be eligible for participation in the Plan.  The Committee may delegate to an officer its authority under this Section 9.02 to determine if and when individuals working for a Corporate Affiliate shall be eligible or ineligible for participation in the Plan.

		
	9.03.  
	Rules Governing the Administration of the Committee

The Company’s Board of Directors may from time to time appoint members of the Committee in substitution for or in addition to members previously appointed and may fill vacancies, however caused, in the Committee. The Committee may select one of its members as its Chairman and shall hold its meetings at such times and places as it shall deem advisable and may hold telephonic meetings. A majority of its members shall constitute a quorum. All determinations of the Committee shall be made by a majority of its members. The Committee may correct any defect or omission or reconcile any inconsistency in the Plan, in the manner and to the extent it shall deem desirable. Any decision or determination reduced to writing and signed by a majority of the members of the Committee shall be as fully effective as if it had been made by a majority vote at a meeting duly called and held. The Committee may appoint a secretary and shall make such rules and regulations for the conduct of its business as it shall deem advisable.

		
	9.04.  
	Statements

Each Participant shall receive a statement of his account showing the number of shares of Stock held and the amount of cash credited to such account.  Such statements will be provided as soon as administratively feasible following the end of each calendar quarter.

ARTICLE X -- MISCELLANEOUS

		
	10.01.  
	Transferability

Neither payroll deductions nor contributions credited to a Participant's account nor any rights with regard to the exercise of a right to purchase Stock or to receive Stock under the Plan may be assigned, transferred, pledged, or otherwise disposed of in any way by the Participant other than by will or the laws of descent and distribution. Any such attempted assignment, transfer, pledge or other disposition shall be without effect.  During a Participant’s lifetime, rights to purchase Stock that are held by such Participant shall be exercisable only by that Participant.

		
	10.02.  
	Use of Funds

All payroll deductions or contributions, as applicable, received or held by the Participating Company under this Plan may be used by the Participating Company for any corporate purpose and the Participating Company shall not be obligated to segregate such payroll deductions or contributions, as applicable; provided, however, such amounts shall be held in trust or otherwise segregated from the Participating Company’s general assets to the extent required under local law.

		
	10.03.  
	Adjustment Upon Changes in Capitalization

In the event of a stock split, stock dividend, recapitalization, reclassification or combination of shares, merger, spin-off, or similar event, the Committee shall adjust equitably (a) the number and class of shares or other securities that are reserved for sale under the Plan, (b) the number and class of shares or other securities that are subject to outstanding rights to purchase Stock, (c) the maximum number of shares of Stock that can be purchased by a Participant with respect to any Offering and (d) the appropriate market value and other price determinations applicable to rights to purchase Stock.  The Committee shall make all determinations under this Section 10.03, and all such determinations shall be conclusive and binding.

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	10.04.  
	Amendment and Termination

The Company’s Board of Directors shall have complete power and authority to terminate or amend the Plan at any time and for any reason.  Upon termination of the Plan, the date of termination shall be considered a Purchase Date, and any cash remaining in Participant accounts will be applied to the purchase of Stock, unless determined otherwise by the Company’s Board of Directors.  Upon termination of the Plan, the Company’s Board of Directors shall have authority to establish administrative procedures regarding the exercise of outstanding rights to purchase Stock or to determine that such rights shall not be exercised.

		
	10.05.  
	Effective Date

This Plan became effective as of June 1, 2001.

10.06.      No Employment Rights

The Plan does not, directly or indirectly, create in any employee or class of employees or directors any right with respect to continuation of employment or service with the Company or any Corporate Affiliate, and it shall not be deemed to interfere in any way with the right of the Company or any Corporate Affiliate retaining such person to terminate, or otherwise modify, an individual's employment or service position at any time.

		
	10.07.  
	Effect of Plan

The provisions of the Plan shall, in accordance with its terms, be binding upon, and inure to the benefit of, all successors of each individual participating in the Plan, including, without limitation, such individual's estate and the executors, administrators or trustees thereof, heirs and legatees, and any receiver, trustee in bankruptcy or representative of creditors of such individual.

		
	10.08.  
	Governing Law

The law of the State of California will govern all matters relating to this Plan except to the extent it is superseded by the laws of the United States.

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APPENDIX A

LIST OF PARTICIPATING COMPANIES

Following is a list of Participating Companies as of May 7, 2019:
	
		
	Edwards Legal Entity
	Country of Incorporation

	Edwards Lifesciences Austria GmbH
	Austria

	Edwards Lifesciences Pty. Limited
	Australia

	Edwards Lifesciences S.P.R.L.
	Belgium

	Edwards Lifesciences Comercio de Produtos Medico-Cirurgicos Ltda.
	Brazil

	Edwards Lifesciences (Canada) Inc.
	Canada

	Edwards (Shanghai) Medical Products Co., Ltd.
	China

	Edwards Lifesciences Colombia S.A.S.
	Columbia

	Edwards Lifesciences Costa Rica, S.R.L.
	Costa Rica

	Edwards Lifesciences Czech Republic s.r.o.
	Czech Republic

	Edwards Lifesciences A/S
	Denmark

	Edwards Lifesciences SAS
	France

	Edwards Lifesciences Services GmbH
	Germany

	Edwards Lifesciences Hellas, M.E.P.E.
	Greece

	Edwards Lifesciences (India) Private Limited
	India

	Edwards Lifesciences Ireland, Limited
	Ireland

	Edwards Lifesciences (Israel) Ltd
	Israel

	Edwards Lifesciences Sales (Israel) Ltd
	Israel

	Valtech Cardio Ltd. (Israel)
	Israel

	Edwards Lifesciences Italia SpA
	Italy

	Edwards Lifesciences (Japan) Limited
	Japan

	Edwards Lifesciences Korea Co., Ltd.
	Korea

	Edwards Lifesciences (Malaysia) Sdn. Bhd.
	Malaysia

	Edwards Lifesciences Asia Pacific Sdn. Bhd.
	Malaysia

	Edwards Lifesciences Mexico, S.A. de C.V.
	Mexico

	Edwards Lifesciences B.V.
	The Netherlands

	BMEYE BV
	The Netherlands

	Edwards Lifesciences (New Zealand) Limited
	New Zealand

	Edwards Lifesciences (Poland) Sp. z.o.o.
	Poland

	Edwards Lifesciences (Portugal) Comércio e Distribuicao de Dispositivos Medicos, Lda.
	Portugal

	Edwards Lifesciences Export (Puerto Rico) Corporation
	Puerto Rico

	Edwards Lifesciences (Asia) Pte., Ltd.
	Singapore

	Edwards Lifesciences (Singapore) Pte Ltd
	Singapore

	Edwards Lifesciences (Proprietary) LTD
	South Africa

	Edwards Lifesciences S.L.
	Spain

	Edwards Lifesciences Nordic AB
	Sweden

	Edwards Lifesciences AG
	Switzerland

	Edwards Lifesciences Technology S.A.R.L.
	Switzerland

	Edwards Lifesciences (Taiwan) Corporation
	Taiwan

	Edwards Lifesciences (Thailand) Ltd.
	Thailand

	Edwards Lifesciences Turkey Health Technologies Limited Şirketi
(Turkish Name) Edwards Lifesciences Sağlik Ürünleri Limited Şirketi
	Turkey

	Edwards Lifesciences Limited
	United Kingdom

A-1

ADDENDUM FOR PARTICIPANTS 
IN JAPAN WORKING FOR 
EDWARDS LIFESCIENCES LIMITED

Effective February 20, 2014

For purposes of Eligible Employees of Edwards Lifesciences Limited, the Company’s subsidiary in Japan, the following terms shall apply and replace any similar provisions in the Plan document.  To the extent there is a conflict between the terms of the Plan document and this Addendum, this Addendum shall govern.  Otherwise, the terms of the Plan document shall control.

2.12  Offering
“Offering” shall mean the annual offering on July 1 of each year of the Company’s Stock, the duration of which shall not exceed twenty seven (27) months.
2.13  Offering Commencement Date
“Offering Commencement Date” shall mean July 1 of each year, unless determined otherwise by the Committee.

4.01  Annual Offerings
The Plan shall consist of annual Offering commencing on July 1 of each calendar year. Eligible Employees may not have in effect more than one Subscription at a time.

Participants may subscribe to any Offering by entering a Subscription during the Enrollment Period for such Offering in such manner as the Committee may prescribe (which may include enrollment by submitting forms, by voice response, internet access or other electronic means).

A Subscription that is in effect on an Offering End Date will automatically be deemed to be a Subscription for the Offering that commences immediately following such Offering End Date, provided that the Participant is still an Eligible Employee and has not withdrawn the Subscription. Under the foregoing automatic enrollment provisions, payroll deductions or contributions will continue at the level in effect immediately prior to the new Offering Commencement Date, unless changed in advance by the Participant in accordance with Section 5.03.

ADDENDUM FOR PARTICIPANTS
IN MALAYSIA WORKING FOR
EDWARDS LIFESCIENCES (MALAYSIA) SDN. BHD.

Effective October 1, 2016

For purposes of Eligible Employees of Edwards Lifesciences (Malaysia) Sdn. Bhd., the Company's subsidiary in Malaysia, the following terms shall apply and replace any similar provisions in the Plan document.  To the extent there is a conflict between the terms of the Plan document and this Addendum, this Addendum shall govern. Otherwise, the terms of the Plan document shall control.

2.12  Offering

"Offering" shall mean the annual offering on October 1 of each year of the Company's Stock, the duration of which shall not exceed twenty seven (27) months.

2.13  Offering Commencement Date

"Offering Commencement Date" shall mean October 1 of each year, unless determined otherwise by the Committee.

4.01  Annual Offerings

The Plan shall consist of annual Offerings commencing on October 1 of each calendar year.  Eligible Employees may not have in effect more than one Subscription at a time.

Participants may subscribe to any Offering by entering a Subscription during the Enrollment Period for such Offering in such manner as the Committee may prescribe (which may include enrollment by submitting forms, by voice response, internet access or other electronic means).

A Subscription that is in effect on an Offering End Date will automatically be deemed to a be a Subscription for the Offering that commences immediately following such Offering End Date, provided that the Participant is still an Eligible Employee and has not withdrawn the Subscription.  Under the foregoing automatic enrollment provisions, payroll deductions or contributions will continue at the level in effect immediately prior to the new Offering Commencement Date, unless change in advance by the Participant in accordance with Section 5.03.Exhibit 10.1

 

KIBUSH
CAPITAL CORPORATION

SUBSCRIPTION
AGREEMENT

S-1
SHARES

 

THIS
SUBSCRIPTION AGREEMENT made as of ____________ 2020 between KIBUSH CAPITAL CORPORATION, a corporation organized
under the laws of the State of Nevada, (the “Company”), and the undersigned (the “Subscriber”
and together with each of the other subscribers in the Offering (defined below), the “Subscribers”).

 

WHEREAS,
the Company desires to sell registered S-1 shares of its common stock (collectively, the “Shares”) (the
“Offering”), at a purchase price of $0.0015 per Share and per the terms set forth in the Company’s
S-1 Registration Statement (as amended) which was originally filed on August 7, 2019.

 

NOW,
THEREFORE, for and in consideration of the promises and the mutual covenants hereinafter set forth, the parties hereto do
hereby agree as follows:

 

1.1.
Subscription for Shares. Subject to the terms and conditions hereinafter set forth, the Subscriber hereby subscribes for
and agrees to purchase from the Company such aggregate amount of Shares as is set forth upon the signature page hereof; and the
Company agrees to sell such Shares to the Subscriber for said purchase price subject to the Company’s right to sell to the
Subscriber such lesser number of Shares as the Company may, in its sole discretion, deem necessary or desirable. The purchase
price is payable by wire transfer, or certified or bank checks made payable to “KIBUSH CAPITAL CORPORATION” and delivered
contemporaneously with the execution and delivery of this Subscription Agreement to the Company’s address set forth above.

 

1.2.
S-1 Registered Shares. The Subscriber acknowledges that the Shares being purchased herein are shares of common stock registered
in the Company’s S-1 (as amended) which was originally filed on August 7, 2019.

 

1.3.
Investment Purpose. The Subscriber represents that the Shares (the “Securities”) are being purchased
for his or her own account, for investment purposes only and not for distribution or resale to others in contravention of the
registration requirements of the 1933 Act. The Subscriber agrees that it will not sell or otherwise transfer the Securities unless
they are registered under the 1933 Act or unless an exemption from such registration is available.

 

1.4.
Accredited Investor. The Subscriber represents and warrants that it is an “accredited investor” as such term
is defined in Rule 501 of Regulation D promulgated under the 1933 Act, and that it is able to bear the economic risk of any investment
in the Shares.

 

1.5.
RISK OF INVESTMENT. THE SUBSCRIBER RECOGNIZES THAT THE PURCHASE OF THE SHARES INVOLVES A HIGH DEGREE OF RISK INCLUDING, WITHOUT
LIMITATION, ANY AND ALL RISKS DISCUSSED IN THIS SUBSCRIPTION AGREEMENT. AN INVESTMENT IN THE COMPANY AND THE SHARES MAY RESULT
IN THE LOSS OF A SUBSCRIBER’S ENTIRE INVESTMENT.

 

(a)
Risk of Loss of Investment. An investment in the Company and the Shares offered hereby involve a high degree of risk. An
investment in the Shares is suitable only for investors who can bear a loss of their entire investment.

 

(b)
Value of Shares is Speculative. The terms of this offering have been determined arbitrarily by the Company. There is no
relationship between such terms and the Company’s assets, earnings, book value and/or any other objective criteria of value.

 

(c)
Dependence on Net Proceeds; No Minimum Offering. The Company is wholly dependent upon the net proceeds of this Offering
to fund its operations, as more specifically described elsewhere in this Subscription Agreement. There is no commitment by any
person to purchase Shares and there is no assurance that any number of Shares will be sold. Additionally, there is no minimum
amount of funds that are required to be raised in order for the Company to accept subscriptions received from investors and the
Company’s may terminate this Offering prior to the expiration of the Offering Period. There is no assurance that the Company
will sell a sufficient number of Shares in this Offering on a timely basis or that the net proceeds after payment of debts and
other obligations will be adequate for the Company’s needs.

 

    	 

    	 

    

 

(d)
Need for Additional Capital; Additional Private Placement. The net proceeds raised by the Company from this Offering will
be used immediately to fund the Company’s current operations. The Company will therefore require significant additional
financing shortly after this Offering, regardless of the net proceeds received, in order to satisfy its cash requirements. The
Company may seek to raise additional funds in private placement transactions. However, there is no assurance that it will be able
to do so in a timely manner or on terms that will enable it to enter its proposed business on a reasonable basis.

 

1.6
Reserved.

 

1.7
Information. The Subscriber acknowledges receipt and full and careful review and understanding of this Subscription Agreement
and of the S-1 (as amended) which was originally filed on August 7, 2019.

 

1.8
No Representations or Warranties. The Subscriber hereby represents that, except as expressly set forth in the S-1, no representations
or warranties have been made to the Subscriber by the Company or any agent, employee or affiliate of the Company and in entering
into this transaction the Subscriber is not relying on any information other than that contained in the S-1 and the results of
independent investigation by the Subscriber.

 

1.9
Tax Consequences. The Subscriber acknowledges that this Offering of the Shares may involve tax consequences and that the
contents of the S-1 does not contain tax advice or information. The Subscriber acknowledges that it must retain its own professional
advisors to evaluate the tax and other consequences of an investment in the Shares.

 

1.10
Transfer or Resale. The Subscriber understands that the Shares purchased herein were qualified in the S-1 under the Securities
Act of 1933 Act, but that Subscriber will be required by the transfer agent or Subscriber’s brokerage firm to obtain a legal
opinion from securities counsel to deposit and sell the Shares.

 

2.1
Organization and Registration. The Company and its “Subsidiaries” (which for purposes of this
Subscription Agreement means any entity in which the Company, directly or indirectly, owns capital stock and holds a majority
or similar interest) are duly organized and validly existing in good standing under the laws of the jurisdiction in which they
were organized, and have the requisite power and authorization to own their properties and to carry on their business as now being
conducted.

 

2.2
Authorization; Enforcement; Validity. The Company has the requisite corporate power and authority to enter into and perform
its obligations under this Subscription Agreement and to issue the Securities in accordance with the terms of the S-1.

 

3.1
Closing and Termination of Offering. Provided that the required conditions to closing set forth herein have been satisfied
or waived, a closing (the “Initial Closing”) shall take place at the offices of the Company as set forth
herein or at such place as may otherwise be agreed to by the Company within 30 days of the receipt of the first cleared subscriber’s
funds. The Company may consummate subsequent closings of the Offering, upon mutual agreement only, each of which shall be subject
to satisfaction or waiver of the conditions to closing set forth herein, and each of which shall be deemed a “Closing”
hereunder.

 

4.1
The obligation of the Company hereunder to issue and sell Shares to the Subscriber at the Closing is subject to the satisfaction,
at or before the Closing, of each of the following conditions, provided that these conditions are for the Company’s sole
benefit and may be waived by the Company at any time in its sole discretion by providing the Subscriber with prior written notice
thereof:

 

4.2
S-1. The Subscriber shall have executed this Subscription Agreement and delivered the same to the Company.

 

    	 

    	 

    

 

4.3
Purchase Price. The Subscriber shall have paid the purchase price for the Shares being purchased by the Subscriber at the
Closing in the manner set forth in Section 1.1.

 

4.4
Representations and Warranties. The representations and warranties of the Subscriber shall be true and correct in all material
respects as of the date when made and as of the Closing as though made at that time, and the Subscriber shall have performed,
satisfied and complied in all material respects with the covenants, agreements and conditions required by this Subscription Agreement
to be performed, satisfied or complied with by the Subscriber at or prior to the Closing.

 

4.5
Other Matters. All opinions, certificates and documents and all proceedings related to this Offering shall be in form and
content reasonably satisfactory to the Company and its legal counsel.

 

4.6
Notice. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this
Subscription Agreement must be in writing and will be deemed to have been delivered: (a) upon receipt, when delivered personally,
(b) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and
kept on file by the sending party), or (c) one (1) business day after deposit with an overnight courier service, in each case
properly addressed to the party to receive the same. The addresses and facsimile numbers for such communications shall be:

 

If
to the Company at the address set forth in the first paragraph of this agreement, Attn. Warren Sheppard, CEO.

 

If
to the Subscriber, to its address and email or facsimile number set forth at the end of this Subscription Agreement, or to such
other address and/or facsimile number and/or to the attention of such other person as specified by written notice given to the
Company five (5) days prior to the effectiveness of such change.

 

Written
confirmation of receipt (a) given by the recipient of such notice, consent, waiver or other communication, (b) mechanically or
electronically generated by the sender’s facsimile machine containing the time, date, recipient facsimile number and an
image of the first page of such transmission, or (c) provided by an overnight courier service shall be rebuttable evidence of
personal service, receipt by facsimile or receipt from an overnight courier service in accordance with clauses (a), (b) or (c)
above, respectively.

 

4.7
Entire Agreement; Amendment. This Subscription Agreement supersedes all other prior oral or written agreements between
the Subscriber, the Company, their affiliates and persons acting on their behalf with respect to the matters discussed herein,
and this Subscription Agreement and the instruments referenced herein contain the entire understanding of the parties with respect
to the matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company nor the
Subscriber makes any representation, warranty, covenant or undertaking with respect to such matters.

 

4.8
Severability. If any provision of this Subscription Agreement shall be invalid or unenforceable in any jurisdiction, such
invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Subscription Agreement
in that jurisdiction or the validity or enforceability of any provision of this Subscription Agreement in any other jurisdiction.

 

4.9
Governing Law; Jurisdiction. This Agreement shall be governed by and construed solely in accordance with the internal laws
of the State of Nevada with respect to contracts executed, delivered and to be fully performed therein, without regard to the
conflicts of laws principles thereof. The parties hereto hereby expressly and irrevocably agree that any suit or proceeding arising
under this Agreement or the consummation of the transactions contemplated hereby, shall be brought solely in a federal or state
court located in the State of Nevada. By its execution hereof, Company and Subscriber hereby expressly and irrevocably submits
to the in personam jurisdiction of the federal and state courts located in the State of Nevada and agree that any process
in any such action may be served upon him or her personally, or by certified mail or registered mail upon such party or such agent,
return receipt requested, with the same full force and effect as if personally served upon such party in Nevada. The parties hereto
each waive any claim that any such jurisdiction is not a convenient forum for any such suit or proceeding and any defense or lack
of in personam jurisdiction with respect thereto. In the event of any such action or proceeding, the party prevailing
therein shall be entitled to payment from the other party hereto of its reasonable counsel fees and disbursements.

 

    	 

    	 

    

 

4.10
Headings. The headings of this Subscription Agreement are for convenience of reference and shall not form part of, or affect
the interpretation of, this Subscription Agreement.

 

4.11
Successors And Assigns. This Subscription Agreement shall be binding upon and inure to the benefit of the parties and their
respective successors and assigns, including any purchasers of the Shares. The Company shall not assign this Subscription Agreement
or any rights or obligations hereunder. Subscriber may assign some or all of its rights hereunder without the consent of the Company,
provided, however, that any such assignment shall not release the Subscriber from its obligations hereunder unless
such obligations are assumed by such assignee and the Company has consented to such assignment and assumption, which consent shall
not be unreasonably withheld.

 

4.12
No Third-Party Beneficiaries. This Subscription Agreement is intended for the benefit of the parties hereto and their respective
permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

4.13
Survival. The representations and warranties of the Company and the Subscriber contained in herein shall survive the Closing
for a period of twelve (12) months.

 

4.14
Legal Representation. The Subscriber acknowledges that: (a) it has read this Subscription Agreement and the exhibits hereto;
(b) it understands that the Company has been represented in the preparation, negotiation, and execution of this Subscription Agreement
by counsel to the Company; (c) it has either been represented in the preparation, negotiation, and execution of this Subscription
Agreement by legal counsel of its own choice, or has chosen to forego such representation by legal counsel after being advised
to seek such legal representation; and (d) it understands the terms and consequences of this Subscription Agreement and is fully
aware of its legal and binding effect.

 

4.15
Confidentiality. The Subscriber agrees that it shall keep confidential and not divulge, furnish or make accessible to anyone,
the confidential information concerning or relating to the business or financial affairs of the Company contained in the S-1 to
which it has become privy by reason of this Subscription Agreement.

 

4.16
Counterparts. This Subscription Agreement may be executed in two or more identical counterparts, all of which shall be
considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered
to the other party; provided that a facsimile signature shall be considered due execution and shall be binding upon the signatory
thereto with the same force and effect as if the signature were an original, not a facsimile signature.

 

Remainder
of Page Intentionally Left Blank

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties have executed this Subscription Agreement as of the date first written above.

 

	SUBSCRIBER
    **	 	CO-SUBSCRIBER
    **
	 	 	 
	 	 	 
	Signature
    of Subscriber	 	Signature
    of Co-Subscriber
	 	 	 
	 	 	 
	Name
    of Subscriber [please print]	 	Name
    of Co-Subscriber [please print]
	 	 	 
	 	 	 
	Address
    of Subscriber	 	Address
    of Co-Subscriber
	 	 	 
	 	 	 
	Social
                                         Security or Taxpayer

        Identification
        Number of Subscriber
	 	Social
                                         Security or Taxpayer Identification

        Number
        of Co-Subscriber

 

Name
of Holder(s) as it should appear on the security certificates* [please print]

 

*
Please provide the exact names that you wish to see on the certificates

 

(1)
For individuals, print full name of subscriber.

(2)
For joint, print full name of subscriber and all co-subscribers.

(3) For corporations, partnerships, LLC, print
full name of entity, including “&,” “Co.,” “Inc.,” “etc.,” “LLC,”
“LP,”etc.. 

(4)
For Trusts, print trust name (please contact your trustee for the exact name that should appear on the certificates.)

 

Dollar
Amount of Shares Subscribed For: $_________________

 

	 	 	 	Dollar
    Amount of
	 	 	 	Subscription
    Accepted: $___________________
	 	 	 	 
	 	 	 	SUBSCRIPTION
    ACCEPTED BY THE COMPANY
	 	 	 	 	 
	 	 	 	KIBUSH
    CAPITAL CORPORATION
	 	 	 	 	 
	Date:
    	 	 	By:	                 
	 	 	 	 	Warren
    Sheppard, CEO

 

**If
Subscriber is a Registered Representative with an FINRA member firm or an affiliated person of an FINRA member firm, have the
acknowledgment to the right signed by the appropriate party:

 

The
undersigned FINRA Member firm acknowledges receipt of the notice required by Rule 3040 of the FINRA Conduct Rules.

 

Name
of FINRA Member Firm

 

	By:	 	 
	 	Authorized
    Officer

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