Document:

Exhibit

                       

Long Term Cash Incentive Plan
COLUMBIA SPORTSWEAR COMPANY
Effective March 1, 2015

Plan Overview
		
	1.
	This document provides information on the Long Term Cash Incentive Plan (hereafter referred to as the “LTI” or “the Plan”) of Columbia Sportswear Company (hereafter referred to as “the Company” or “Columbia”), which is set out in accordance with relevant laws and regulations  

		
	2.
	The Plan is designed as an intrinsic portion of our total remuneration for designated managerial employees of Columbia. Participants will be entitled to an LTI award under this Plan provided that the prescribed performance conditions are met and they remain in employment with the Company for the specified period of time.

		
	3.
	All awards payable under the Plan are subject to the discretion and approval of the Compensation Committee of the Board of Directors.  Information contained in this document does not create an employment contract and the Company reserves the right to amend, change or terminate all of part of the Plan as and when it shall see fit.

		
	4.
	The Plan is prepared in English. In the event of any ambiguous interpretation of the Plan in any other language, the English version shall prevail. 

Contents
Chapter One: General Provisions................................................................................................................1
Chapter Two: Definitions..............................................................................................................................2
Chapter Three: Plan Participants................................................................................................................3
Chapter Four: Operational Model and Restrictions................................................................................. 4
Chapter Five: Grant of LTI Award............................................................................................................. 4
Chapter Six: Vesting and Invalidation of LTI Award................................................................................ 5
Chapter Seven: Rights and Duties of the Company and the Participants...............................................6
Chapter Eight: Revision and Termination of the Plan.............................................................................. 6
Chapter Nine: Supplementary Provisions.................................................................................................. 7

                            Columbia Sportswear Company
Long Term Cash Incentive Plan 
Chapter One: General Provisions
		
	1.
	To attract and retain the management team and key talent to drive the Company’s sustainable development, and to reward superior company and individual performance, Columbia Sportswear Company (hereafter referred to as “the Company” or “Columbia”) has designed a Long Term Cash Incentive Plan (hereafter referred to as “LTI” or “the Plan”) in accordance with relevant laws and regulations.

		
	2.
	The Plan is drafted by the Company’s Corporate Human Resources Department and reviewed by the Compensation Committee of the Board of Directors.  The Plan will come into effect as of 4/1/2014 after the approval of the Compensation Committee of the Board of Directors.

		
	3.
	 The Plan covers all majority owned subsidiaries and entities of Columbia Sportswear.

		
	4.
	The Corporate Human Resources Department, under the direction of the Compensation Committee of the Board of Directors and the CEO, administers the LTI Cash Plan and is responsible for implementing and operating the Plan, and will undertake tasks such as determining the grant size, calculating vesting and termination, etc. 

		
	5.
	Principles of the Plan:

		
	1)
	The Plan should be simple, transparent and easy to understand and communicate to the eligible participants;

		
	2)
	The Plan should reward selected participants who have made a special contribution to the Company in the past, or who are expected to have a substantial role in the plans of the Company going forward, or both;

		
	3)
	The Plan is on-going in nature and should support the sustainable development of the Company;

		
	4)
	The Plan shall not require any monetary contribution from participants in order to obtain the long-term incentives under the Plan

		
	6.
	Objectives of the Plan:

		
	1)
	Drive a performance culture, and align the interests of the Company and rewards of the Plan participants;

		
	2)
	Attract and retain excellent management and top performers to further the objectives of the Company;

		
	3)
	Encourage sustainable value creation so as to achieve stable, long-lasting development;

		
	4)
	Assist the management team in balancing medium-term and long-term objectives.

1

Chapter Two: Definitions
The following expressions in the Plan carry the respective meanings below:
	
		
	Term 
	Definition

	The Company
	Columbia Sportswear Company and all majority owned subsidiaries

	The Plan
	Long Term Cash Incentive Plan 

	Board of Directors
	The Board of Directors of the Company

	Employee
	Employees of the Company

	Participant
	Eligible Employees to participate in the Plan

	CEO
	Chief Executive Officer of Columbia Sportswear Company, the incumbent in the highest role with executive powers

	Senior management executives
	Senior vice presidents of the Company

	Employee Performance Review Year
	The whole fiscal year used as the basis to evaluate participant performance and determine the size of award to be granted

	Grant
	The award, in the form of cash, to be granted to the Participants according to the Plan

	Be granted
	Participants receive the award by way of written communication, according to the Plan

	Performance Period
	The period of time over which Company performance is measured

	Award Agreement
	Documentation delivered to the Employee containing the terms and conditions of the Long Term Cash Incentive Award

	Vest
	Upon satisfying the restrictive conditions in the Plan, the Participant’s acquisition of the right to receive the payout of award, based on the terms and conditions of the Plan

	Vesting period
	The period from the day the awards are granted to the day they are all vested to Participants

	Company performance goal
	The Company performance goal agreed by the CEO and CFO at the beginning of the year in which the award is granted

2

Chapter Three: Plan Participants

The Plan participants include: 
		
	1)
	Managerial employees of the Company as designated by the Corporate Human Resources department and approved by the CEO of the Company.

		
	2)
	Employees who have made outstanding contributions to the Company, nominated by the senior executives or the CEO. 

Based on the participant’s position on the last working day of the Employee Performance Review Year, the participants shall meet the following conditions to be granted any LTI award: 
		
	1)
	The participant should be a full-time employee of the Company

		
	2)
	The participant should have completed his/her probation/introductory period

		
	3)
	The participant’s individual performance results of Achieving or better per their manager’s assessment in the Employee Performance Review Year

Employees who have made outstanding contributions to the Company and nominated by the senior executives or the CEO need not satisfy the above criteria.
Participants described above do not include the Independent Directors and other Board members or Supervisory Board members who are only paid Director compensation or Supervisor compensation. 
The grants to senior executives shall be approved by the Compensation Committee of the Board of Directors and the CEO according to the Plan, while grants to other Participants shall be proposed by the Corporate Human Resources department and approved by the CEO. 
The final list of Plan Participants will be provided by the corporate Human Resources department and approved by the CEO. The participant list contains, but is not limited to, Participants’ names, positions and the amounts to be granted.

3

Chapter Four: Operational Model and Restrictions

The operational model for the Plan is as follows: the CEO in collaboration with the Company CFO determines the total fund of LTI awards under the Plan. Size of grant to each eligible Participant will be proposed by the Corporate Human Resources department and upon discussion, the final amount will be approved by the CEO. 
The operational process for the Plan is as follows: the Corporate Human Resources department recommends LTI awards to be granted to each eligible Participant.  After approval by the CEO, the Corporate Human Resources department issues letters of grant to each individual through the Award Agreement. Upon satisfying the vesting conditions, the Corporate Human Resources department notifies each Participant of the size of award which has vested.

Chapter Five: Grant of LTI Award

The CEO will review the Plan and decide on the grant of LTI awards, if any, on an annual basis. 
Principles in determining the value of individual grant: 
		
	a)
	Global Grade level of the employee

		
	b)
	Past performance of the employee

		
	c)
	Potential of and expectations from the employee

		
	d)
	Any other factor(s) which is/are deemed relevant

4

Chapter Six: Vesting and Invalidation of LTI Award 

Vesting of the LTI awards granted is time-based and determined by Company performance during the Performance Period as defined in the Award Agreement. 
The CEO has the sole discretion in determining the final actual LTI awards to be granted to eligible Participants
In general, the granted award will not vest if the Participant is no longer an employee of the Company or is serving his or her notice period on the date of vesting.
The conditions for vesting and lapse due to special circumstances of the Participants are as follows:
		
	1)
	Participant exit due to death: All granted but unvested LTI awards will vest at the target amount and be paid out as soon as practicable to the beneficiary(ies) stated by the Participant in the Nominee Form.

		
	2)
	Participant exit due to resignation, retirement or termination: All granted but unvested LTI awards will be subject to the discretion of the CEO.

		
	3)
	Participant exit due to termination for cause: All granted but unvested LTI awards will be forfeited. 

		
	4)
	The CEO reserves the right to make appropriate settlement at any time for situations not covered by the above articles.

The conditions for vesting and lapse due to special circumstances of Columbia are as follows: 
		
	1)
	On the day that the company is ordered to liquidate or the company passes a resolution to go through voluntary liquidation (excluding an immediate merger and / or reorganization thereafter, when the majority of the company's business operations, assets and liabilities are transferred to or taken over by another company, which would be another case), the granted but unvested LTI awards will be canceled.

		
	2)
	In the event of a change in control, where corporate control is taken over by another legal entity, due to Merger or Acquisition or other reasons, the provisions of the Plan will continue for all granted awards (whether vested or unvested) but no further grants may be made under the Plan. The Compensation Committee of the Board of Directors and the CEO, or similar body of the Merged Company or the Acquiring Company may make limited changes to the Plan document, especially in the case of regulatory considerations which may apply to the Merged or Acquiring Company. The Compensation Committee of the Board of Directors and the CEO, or similar body of this 

5

Merged or Acquiring Company will be responsible for governance of the Plan, going forward.
The vesting and termination arrangements of senior executives should be approved by the Compensation Committee of the Board of Directors and the CEO. For other Participants, the vesting and termination arrangements should be administered by the Corporate Human Resources department.  
Chapter Seven: Rights and Duties of the Company and the Participants
Without major misconduct, Participants who continue to be employed with the Company and are eligible may be granted LTI awards under the Plan. 
Personal tax arrangement for Participants under the Plan should be conducted according to relevant national rules and regulations and will be borne by the Plan Participants. 
Chapter Eight: Revision and Termination of the Plan
The Compensation Committee of the Board of Directors and the CEO, as the governing body of the Plan, has the right to revise or authorize the Corporate Human Resources department to revise the Plan. Any significant revisions shall be approved by the Compensation Committee of the Board of Directors and the CEO.
The significant revisions mentioned above include, but are not limited to:
		
	1)
	Basic operation mode and restrictions of the Plan.

		
	2)
	The scope of Participants.

		
	3)
	Determination of award size

		
	4)
	Revision and termination of the Plan.

The Company reserves the right to terminate the Plan at any time and determine the arrangement for the LTI awards granted to Participants. 
With the termination of the Plan, the unvested LTI awards shall be cancelled with immediate effect.

6

Chapter Nine: Supplementary Provisions
The Plan will come into effect at the date of the Compensation Committee of the Board of Directors approval.
The Compensation Committee of the Board of Directors reserves the right to interpret any part of the Plan.
Participants are considered to have agreed to accept the corresponding restrictions and undertake various obligations under the Plan, when they agree to accept the beneficial rights under the Plan after its coming into effect.

(End of the document)

Columbia Sportswear Company

3/1/2015

7sens_Ex10_28

		
			EXHIBIT 10.28
		

		
			AMENDMENT TO DISTRIBUTION AGREEMENT
		

		
			This Amendment to Distribution Agreement (“Amendment”) is effective as of November 28, 2016 (the “Amendment Effective Date”), by and between Roche Diagnostics International AG, Basel Branch Diabetes Care, with offices located at Peter Merian-Weg 4, 4052 Basel, Switzerland (“Roche Diagnostics”) and Roche Diabetes Care GmbH, with offices located at Sandhofer Strasse 116, 68305 Mannheim, Germany (“Roche Diabetes” and collectively with Roche Diagnostics, “Roche”) and Senseonics Incorporated, with offices located at 20451 Seneca Meadows Parkway, Germantown, MD 20876‐7005, USA (“Senseonics”). Roche and Senseonics are sometimes referred to herein individually as a “Party” and collectively as the “Parties.”
		

		
			WHEREAS, Roche and Senseonics are parties to that certain Distribution Agreement dated May 23, 2016 (the “Agreement”); and
		

		
			WHEREAS, the Parties desire to amend the Agreement in accordance with Section 11.11 thereof;
		

		
			NOW, THEREFORE, in consideration of the premises and mutual covenants contained in this Amendment, the Parties agree as follows:
		

			
	
			
				 1.
			

			
	
			
			The second and third sentences of Section 10.1 are hereby deleted and replaced with the following:

		
			Unless terminated earlier in accordance with the terms hereof, this Agreement shall expire on December 31, 2018. Upon agreement by the Parties to the Minimum Requirement for 2019 (as described in Exhibit 4), this Agreement shall expire on December 31, 2019.
		

			
	
			
				 2.
			

			
	
			
			Exhibit 3 to the Agreement is hereby deleted in its entirety and replaced with the Exhibit 3 attached hereto.

			
	
			
				 3.
			

			
	
			
			Exhibit 4 to the Agreement is hereby deleted in its entirety and replaced with the Exhibit 4 attached hereto.

			
	
			
				 4.
			

			
	
			
			Except as expressly amended hereby, the terms and conditions of the Agreement shall remain unchanged and in full force and effect. In the event of any conflict between the terms of this Amendment and the terms of the Agreement, the terms of this Amendment shall govern. The amendments made herein shall be effective as of the Amendment Effective Date. Capitalized terms used in this Amendment that are not otherwise defined herein shall have the same meanings as such terms are given in the Agreement. For clarity, any cross-references to Agreement Sections refer to those Agreement Sections as amended by this Amendment. This Amendment may be executed in counterparts, each of which shall be deemed an original but all of which shall be considered one and the same instrument.

		
			[Signatures are on next page]
		

		
			
		

		
			

		 

		

			– 1 –

		

		

			Confidential and Proprietary

		

		

			CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

		

 

		

		
			IN WITNESS WHEREOF, each of the Parties has caused this Amendment to be executed by its duly authorized representative as of the Amendment Effective Date.
		

			
					
						Senseonics Incorporated

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Tim Goodnow

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Name:

					
					
						Tim Goodnow

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Title:

					
					
						President & CEO

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Roche Diagnostic International AG
Basel Branch Diabetes Care

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ A. Pedrazzetti

					
					
						 

					
					
						/s/ Illegible

				
	
					
						Name:

					
					
						A. Pedrazzetti

					
					
						 

					
					
						Illegible

				
	
					
						Title:

					
					
						Head Bus. Dev./Roche Diabetes Care

					
					
						 

					
					
						Illegible

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Roche Diabetes Care GmbH

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Illegible

					
					
						 

					
					
						/s/ P. Hoffman

				
	
					
						Name:

					
					
						Illegible

					
					
						 

					
					
						P. Hoffmann

				
	
					
						Title:

					
					
						Illegible

					
					
						 

					
					
						Legal Counsel

				

		
			 
		

		
			
		

		
			

		 

		

			– 2 –

		

		

			Confidential and Proprietary

		

		

			CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

		

 

		

		
			EXHIBIT 3
		

		
			Territory
		

		
			Europe, Middle East and Africa (as listed below), excluding Sweden, Norway, Denmark, Finland and Israel from this amendment.
		

		
			For clarity, the Parties acknowledge and agree that for all countries listed below, SENSEONICS AND ROCHE must agree in advance of any commitment to enter the market (where and when). ROCHE shall have the exclusive right, but not the obligation, to distribute the Products in the Territory.
		

			
					
						EUROPE

					
					
						MIDDLE EAST

					
					
						AFRICA

				
	
					
						Albania 

					
					
						Bahrain

					
					
						Algeria 

				
	
					
						Andorra 

					
					
						Benin 

					
					
						Angola 

				
	
					
						Austria

					
					
						Egypt 

					
					
						Benin

				
	
					
						Belarus 

					
					
						Iran

					
					
						Botswana

				
	
					
						Belgium 

					
					
						Iraq

					
					
						Banana Faso

				
	
					
						Bosnia and Herzegovina 

					
					
						Jordan 

					
					
						Burundi

				
	
					
						Bulgaria

					
					
						Kuwait 

					
					
						Cameroon 

				
	
					
						Croatia 

					
					
						Lebanon

					
					
						Cape Verde 

				
	
					
						Cyprus

					
					
						Libya 

					
					
						Central African Republic

				
	
					
						Czech Republic 

					
					
						Oman 

					
					
						Chad

				
	
					
						Estonia

					
					
						Palestine

					
					
						Comoros

				
	
					
						Faroe islands

					
					
						Qatar

					
					
						Democratic Republic of the Congo 

				
	
					
						Franca 

					
					
						Saudi Arabia

					
					
						Djibouti

				
	
					
						Georgia 

					
					
						Sudan 

					
					
						Equatorial Guinea

				
	
					
						Germany 

					
					
						Syna 

					
					
						Eritrea

				
	
					
						Gibraltar 

					
					
						Turkey

					
					
						Ethiopia 

				
	
					
						Greece 

					
					
						United Arab Emirates 

					
					
						Gabon

				
	
					
						Guernsey

					
					
						Yemen

					
					
						Gambia 

				
	
					
						Hungary 

					
					
						 

					
					
						Ghana

				
	
					
						Iceland 

					
					
						 

					
					
						Guinea

				
	
					
						Ireland 

					
					
						 

					
					
						Guinea-Bissau

				
	
					
						Isle Of Man

					
					
						 

					
					
						Ivory Coast

				
	
					
						Italy

					
					
						 

					
					
						Kenya

				
	
					
						Jersey

					
					
						 

					
					
						Lesotho 

				
	
					
						Latvia

					
					
						 

					
					
						Liberia

				
	
					
						Liechtenstein

					
					
						 

					
					
						Madagascar

				
	
					
						Lithuania

					
					
						 

					
					
						Malawi

				
	
					
						Luxembourg 

					
					
						 

					
					
						Mali

				
	
					
						Macedonia

					
					
						 

					
					
						Mauritania 

				
	
					
						Malta

					
					
						 

					
					
						Mauritius 

				
	
					
						Moldova 

					
					
						 

					
					
						Morocco 

				
	
					
						Monaco 

					
					
						 

					
					
						Mozambique

				
	
					
						Montenegro

					
					
						 

					
					
						Namibia

				
	
					
						Netherlands

					
					
						 

					
					
						Niger

				
	
					
						Poland 

					
					
						 

					
					
						Nigeria

				
	
					
						Portugal 

					
					
						 

					
					
						Rwanda

				
	
					
						Romania

					
					
						 

					
					
						Sao Tome & Principe

				
	
					
						San Marino

					
					
						 

					
					
						Senegal 

				

		 

		

			– 3 –

		

		

			Confidential and Proprietary

		

		

			CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

		

 

	

      

        EUROPE

      

    	

      

        MIDDLE EAST

      

    	

      

        AFRICA

      

    
	
					
						

					
						Serbia 

					
					
						 

					
					
						Somalia 

				
	
					
						Slovakia

					
					
						 

					
					
						South Africa

				
	
					
						Slovenia

					
					
						 

					
					
						Swaziland

				
	
					
						Spain 

					
					
						 

					
					
						Tanzania 

				
	
					
						Switzerland

					
					
						 

					
					
						Togo

				
	
					
						Turkey 

					
					
						 

					
					
						Tunisia 

				
	
					
						Ukraine

					
					
						 

					
					
						Turkey 

				
	
					
						United Kingdom 

					
					
						 

					
					
						Uganda 

				
	
					
						Vatican City

					
					
						 

					
					
						Western Sahara

				
	
					
						 

					
					
						 

					
					
						Zambia

				
	
					
						 

					
					
						 

					
					
						Zimbabwe (Rhodesia)

				

		
			 
		

		
			
		

		
			

		 

		

			– 4 –

		

		

			Confidential and Proprietary

		

		

			CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

		

 

		

		
			EXHIBIT 4
		

		
			Price:
		

			
					
						Eversense®
Sensor Pack

					
						Contains the following:

					
						1Sensor Insertion Kit — Includes Blunt Dissector, Insertion Tool, Insertion Template, Adhesive Patch 30‐Pack (3). Insertion and Removal Instruction Guide

					
						1Sensor Kit — Includes Sensor Pouch

				
	
					
						Annual Volume

					
					
						Price

				
	
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

				
	
					
						 

					
					
						 

				
	
					
						Eversense®
Smart Transmitter Pack

					
						Contains the following: l Smart Transmitter, 1 Power Supply, 1 User Guide, and 1 Quick Reference Guide

				
	
					
						Annual Volume

					
					
						Price

				
	
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

				

		
			 
		

		
			Annual Volume Purchased is based on units of the applicable Product purchased by ROCHE in a particular calendar year under the Agreement.
		

		
			Upon notification by SENSEONICS that a 180 day sensor product is available for inclusion under this Agreement, the Parties shall negotiate in good faith an amendment to this Agreement to include the 180 day sensor product as a Product under this Agreement and the corresponding price for such product and minimum requirements for such product and the other Products under this Agreement. SENSEON1CS shall only be entitled to offer the 180 day sensor product to third parties, if ROCHE gives its written consent. For clarity, ROCHE shall be free to order and to distribute the 90 day sensor product even if a sensor with an extended life is available from SENSEONICS.
		

		
			
		

		
			

		 

		

			– 5 –

		

		

			Confidential and Proprietary

		

		

			CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

		

 

		

		
			Minimum Requirement:
		

			
					
						 

					
					
						Eversense®
Sensor Pack

					
					
						Eversense®
Smart Transmitter Pack

				
	
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

					
					
						[***]

				
	
					
						[***]

					
					
						[***]

					
					
						[***]

				

		
			 
		

		
			ROCHE shall provide timely written notice to SENSEON1CS if it reasonably believes it will not purchase the minimum quantities of each Product in any particular calendar quarter as outlined above. If ROCHE does not order enough Product to meet the Minimum Requirement for 2017, on December 15, 2017ROCHE shall be deemed to have placed an order for the number of units of Product required to satisfy the remainder of the Minimum Requirement for each Product for 2017 and ROCHE shall pay for such Product in accordance with Section 3 3(b) of the Agreement. For clarity, in case the Minimum Requirement for 2017 is not fulfilled and this is cured by a make-up order from ROCHE, SENSEONICS shall not have the right to terminate the Agreement for material breach based on Section 10.2 of the Agreement.
		

		
			In September 2017, the Parties will hold a meeting to verify, if — based on the experiences so far-the Minimum Requirement for 2018 is to be confirmed. Factors including but not limited to Product up-take and customer acceptance, the regulatory approvals in the countries, potential adverse reactions to the Product and other unexpected events shall be taken into consideration when reviewing 2017 performance and confirming or adjusting the above Minimum Requirement for 2018
		

		
			Starting in September 2018, or such other time period as the Parties may agree, the Parties will negotiate in good faith the Minimum Requirement for 2019 taking into account the Minimum Requirement for 2018, SENSEON1CS’ product costs, ROCHE’S actual Product sales during the term of this Agreement to date and ROCHE’S anticipated Product sales for 2019.
		

		 

		

			– 6 –

		

		

			Confidential and Proprietary

		

		

			CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED [***]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

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