Document:

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                                                                   EXHIBIT 10.13

                                                                     May 1, 2001

J. Raymond Elliott
[Address]

                            PERSONAL AND CONFIDENTIAL

Dear Ray:

The purpose of this letter is to summarize the terms of your compensation as of
March 15, 2001 contingent upon your assuming the position of President and Chief
Executive Officer - Zimmer Holdings, Inc. This letter also summarizes the terms
of your pension benefit under the Bristol-Myers Squibb Company Retirement Income
Plan. Please note that these arrangements are supplemental to the terms and
conditions of the letter agreement you received from George P. Kooluris, dated
February 21, 2001. All terms and conditions presented in the February 21, 2001
letter agreement remain unchanged.

CASH COMPENSATION

Your annual base salary will be $600,000 and you will have a target bonus of
100% of base salary ($600,000). These compensation arrangements are effective
retroactive to March 15, 2001.

STOCK OPTION AWARD

Effective within 30 days following the date of the spin-off of Zimmer, you will
receive an option to purchase shares of Zimmer stock with an economic value at
the time of grant of $2,100,000 using a generally accepted valuation
methodology. This option will be issued under a new option and equity
compensation plan (the "Zimmer Stock Incentive Plan") that will be adopted by
Zimmer's Board of Directors. Your option will vest in equal installments over a
period of four years provided you remain employed with Zimmer during that time,
or as provided otherwise under the Zimmer Stock Incentive Plan. The exercise
price will equal the fair market value of Zimmer stock at the time the option is
granted.

<PAGE>

J. RAYMOND ELLIOTT
MAY 1, 2001
PAGE 2 OF 3

PENSION BENEFIT UNDER BRISTOL-MYERS SQUIBB COMPANY RETIREMENT INCOME PLAN

In view of your short service with Bristol-Myers Squibb Company and the impact
that this will have on your ability to accrue a pension benefit under the
Bristol-Myers Squibb Company Retirement Income Plan, we will guarantee a
straight life annuity benefit for you of $98,508 per year beginning no sooner
than the first day of the month following the date of your 55th birthday. To the
extent that the value of the pension benefit amounts you will receive from the
Bristol-Myers Squibb Company Retirement Income Plan and the Bristol-Myers Squibb
Company Benefit Equalization Plan do not exceed the guaranteed amount,
Bristol-Myers Squibb Company will provide you with the difference from its
general revenues. For your reference, the guaranteed benefit amount was
calculated assuming you retired from Bristol-Myers Squibb Company at age 55 with
10 years of service and that you were therefore eligible for our Plan's Early
Retirement subsidies.

This benefit will be administered in accordance with the standard terms and
conditions employed by Bristol-Myers Squibb Company, and as summarized in YOUR
BENEFITS on pages RP-3 to RP-10. For example, if you choose to begin your
benefit beyond age 55, the benefit amount would be increased in accordance with
the Early Retirement factors noted on page RP-6.

SPECIAL SEVERANCE PROVISIONS PURSUANT TO A CHANGE IN CONTROL

You had asked about receiving special severance coverage pursuant to a change in
control of Zimmer Holdings, Inc., similar to the coverage you would be entitled
to receive as an executive of Bristol-Myers Squibb Company. Please be advised
that you will need to take up this request with the Board of Directors of Zimmer
Holdings, Inc.

Please contact me if you have any questions concerning the contents of this
letter.

Very truly yours,

Richard C. Lodato
Vice President
Global Compensation

cc:  Charles G. Tharp
     Senior Vice President
     Human Resources

<PAGE>

J. RAYMOND ELLIOTT
MAY 1, 2001
PAGE 3 OF 3

AGREED TO AND ACCEPTED:

J. Raymond Elliott
Zimmer, Inc.

______________________________

DATE:_________________________<PAGE>

                                                                   EXHIBIT 10.14

                                                                    May 11, 2001

Roy D. Crowninshield, Ph.D.
[Address]

                            PERSONAL AND CONFIDENTIAL

Dear Roy:

The purpose of this letter is to summarize the terms of your compensation as of
July 1, 2001 contingent upon your assuming the position of Senior Vice President
and Chief Scientific Officer - Zimmer Holdings, Inc. Please note that these
arrangements are supplemental to the terms and conditions of the letter
agreement you received from George P. Kooluris, dated February 21, 2001. All
terms and conditions presented in the February 21, 2001 letter agreement remain
unchanged.

CASH COMPENSATION

Your annual base salary will be $275,000 and you will have a target bonus of 40%
of base salary ($110,000). These compensation arrangements will be effective
July 1, 2001.

STOCK OPTION AWARD

Effective within 30 days following the date of the spin-off of Zimmer, you will
receive an option to purchase shares of Zimmer stock with an economic value at
the time of grant of $410,000 using a generally accepted valuation methodology.
This option will be issued under a new option and equity compensation plan (the
"Zimmer Stock Incentive Plan") that will be adopted by Zimmer's Board of
Directors. Your option will vest in equal installments over a period of four
years provided you remain employed with Zimmer during that time, or as provided
otherwise under the Zimmer Stock Incentive Plan. The exercise price will equal
the fair market value of Zimmer stock at the time the option is granted.

Please contact me if you have any questions concerning the contents of this
letter. My telephone number is (212) 546-3926.

Very truly yours,

Richard C. Lodato
Vice President
Global Compensation
Bristol-Myers Squibb Company

<PAGE>

ROY D. CROWNINSHIELD, PH.D.
MAY 11, 2001
PAGE 2 OF 2

cc:  J. Raymond Elliott
     Charles G. Tharp

Roy D. Crowninshield, Ph.D.
Zimmer, Inc.

AGREED TO AND ACCEPTED:

______________________________

DATE:_________________________<PAGE>

                                                                   EXHIBIT 10.15

                                                                  April 26, 2001

Bruce E. Peterson
[Address]

                            PERSONAL AND CONFIDENTIAL

Dear Bruce:

The purpose of this letter is to summarize the terms of your compensation as of
July 1, 2001 contingent upon your assuming the position of President Americas -
Zimmer Holdings, Inc. Please note that these arrangements are supplemental to
the terms and conditions of the letter agreement you received from George P.
Kooluris, dated February 21, 2001. All terms and conditions presented in the
February 21, 2001 letter agreement remain unchanged.

CASH COMPENSATION

Your annual base salary will be $300,000 and you will have a target bonus of 60%
of base salary ($180,000). These compensation arrangements will be effective
July 1, 2001.

STOCK OPTION AWARD

Effective within 30 days following the date of the spin-off of Zimmer, you will
receive an option to purchase shares of Zimmer stock with an economic value at
the time of grant of $680,000 using a generally accepted valuation methodology.
This option will be issued under a new option and equity compensation plan (the
"Zimmer Stock Incentive Plan") that will be adopted by Zimmer's Board of
Directors. Your option will vest in equal installments over a period of four
years provided you remain employed with Zimmer during that time, or as provided
otherwise under the Zimmer Stock Incentive Plan. The exercise price will equal
the fair market value of Zimmer stock at the time the option is granted.

Please contact me if you have any questions concerning the contents of this
letter. My telephone number is (212) 546-3926.

Very truly yours,

Richard C. Lodato
Vice President
Global Compensation
Bristol-Myers Squibb Company

<PAGE>

BRUCE E. PETERSON
APRIL 26, 2001
PAGE 2 OF 2

cc:  J. Raymond Elliott
     Charles G. Tharp

Bruce E. Peterson
Zimmer, Inc.

AGREED TO AND ACCEPTED:

______________________________

DATE:_________________________<PAGE>

                                                                   EXHIBIT 10.16

                                                                    May 11, 2001

Paul D. Schoenle
[Address]

                            PERSONAL AND CONFIDENTIAL

Dear Paul:

The purpose of this letter is to summarize the terms of your compensation as of
July 1, 2001 contingent upon your assuming the position of Vice President and
Senior Counsel - Zimmer Holdings, Inc. Please note that these arrangements are
supplemental to the terms and conditions of the letter agreement you received
from George P. Kooluris, dated February 21, 2001. All terms and conditions
presented in the February 21, 2001 letter agreement remain unchanged.

CASH COMPENSATION

Your annual base salary will be $200,000, inclusive of your 2001 merit increase,
and you will have a target bonus of 35% of base salary ($70,000). These
compensation arrangements will be effective July 1, 2001.

STOCK OPTION AWARD

Effective within 30 days following the date of the spin-off of Zimmer, you will
receive an option to purchase shares of Zimmer stock with an economic value at
the time of grant of $240,000 using a generally accepted valuation methodology.
This option will be issued under a new option and equity compensation plan (the
"Zimmer Stock Incentive Plan") that will be adopted by Zimmer's Board of
Directors. Your option will vest in equal installments over a period of four
years provided you remain employed with Zimmer during that time, or as provided
otherwise under the Zimmer Stock Incentive Plan. The exercise price will equal
the fair market value of Zimmer stock at the time the option is granted.

Please contact me if you have any questions concerning the contents of this
letter. My telephone number is (212) 546-3926.

Very truly yours,

Richard C. Lodato
Vice President
Global Compensation
Bristol-Myers Squibb Company

<PAGE>

PAUL D. SCHOENLE
MAY 11, 2001
PAGE 2 OF 2

cc:  J. Raymond Elliott
     Charles G. Tharp

Paul D. Schoenle
Zimmer, Inc.

AGREED TO AND ACCEPTED:

______________________________

DATE:_________________________

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