Document:

Form of Nonqualified Stock Option Agreement

 Exhibit 10.34 
 FORM B—Management Form 
 (With Price Appreciation Threshold) 
 [MEAD JOHNSON LETTERHEAD] 
 NONQUALIFIED STOCK OPTION AGREEMENT 
 UNDER THE MEAD JOHNSON NUTRITION COMPANY  
 2009 STOCK AWARD AND INCENTIVE PLAN 
 MEAD JOHNSON NUTRITION COMPANY, a Delaware corporation (the “Company”), has granted
to you an option to purchase shares of the common stock (“Shares”) of the Company (the “Option”), at the specified exercise price, as set forth in the summary of your grant that is found on the Smith Barney website (the
“Grant Summary”). The Grant Summary is incorporated into this Nonqualified Stock Option Agreement (the “Agreement”) and deemed to be a part hereof. The Option will expire and cease to be exercisable at the earlier of the stated
Expiration Date set forth in the Grant Summary or, in the event of Termination of Employment (as defined in Section 5(e) below), the date the Option ceases to be exercisable under Section 5. This Option is granted under Section 6(b)
of, and is subject in all respects to the terms, definitions and provisions of, the Mead Johnson Nutrition Company 2009 Stock Award and Incentive Plan (the “Plan”) and the terms and conditions set forth in the Grant Summary and this
Agreement. 
 1. General. The Option is subject to the terms and conditions of the Plan and this Agreement. The Plan, and documents
constituting the prospectus relating to the Plan and this Option, have previously been delivered to you and/or are available on the Company’s intranet site at http://onebms.bms.com/mjn. All of the applicable terms, conditions and other
provisions of the Plan are incorporated by reference herein. Capitalized terms used in this Agreement but not defined herein shall have the same meanings as assigned to such terms in the Plan. If there is any conflict between the provisions of this
document and mandatory provisions of the Plan, the provisions of the Plan shall govern. By accepting the grant of the Option, you agree to be bound by all of the terms and provisions of the Plan (as presently in effect or later amended), the rules
and regulations under the Plan adopted from time to time, and the decisions and determinations of the Compensation Committee of the Company’s Board of Directors (the “Committee”) made from time to time. The Option is a nonqualified
stock option (not an incentive stock option as defined under Section 422 of the Internal Revenue Code of 1986, as amended). 
 2. Vesting,
Exercise Threshold. The Option shall vest and become exercisable as to [    ]% of the Shares, cumulatively, on each of the first, second, third, and fourth anniversaries of the Award Date (rounded to the nearest
whole Share), if you remain employed by the Company or an Affiliate or Subsidiary at the vesting date; provided, however, that the Option will become vested at other times as specified in this Section 2 and Section 5 hereof. In addition to
the vesting provisions, [    ]% of the Option award is subject to a price appreciation exercise threshold. The Option may only be exercised once the Company’s common stock achieves a closing price of at least
[    ]% of the Exercise Price and remains at or above that closing price for seven (7) consecutive trading days during the Option term. This price appreciation exercise threshold shall not apply in the case of the
death of the Optionee. Subject to all applicable laws, rules, regulations and the terms of the Plan and this Agreement, you may exercise the Option only after the time and to the extent the 

 
Option has become vested and exercisable and prior to or on the Expiration Date of the Option. You must remain in the continuous employment of the Company or
Affiliates or Subsidiaries for a period of one year following the Award Date as a condition to your right to exercise any portion of the Option, except as otherwise provided in Section 5. During your employment, the stated vesting schedule set
forth above shall govern the vesting and exercisability of the Option, except that if you have attained age 60 and met the one-year continuous employment requirement of this Section 2(a) while employed, your Option will be fully vested and you
may exercise it in full thereafter, subject to the price appreciation exercise threshold described herein. 
 3. Option Exercise and Payment of
Exercise Price. To exercise the Option, in whole or in part, you must notify the Company’s designated broker/agent in the manner specified by the Committee or its designee. This notification will be effective upon receipt by the
Company’s designated broker/agent and must be received on or before the specified Expiration Date. If the specified Expiration Date falls on a day that is not a regular business day at the Company’s executive office or broker/agent’s
office, then the exercise notification must be received on or before the last regular business day prior to the Expiration Date. 
 Payment must be made in
the form of a wire transfer, personal check, or money order, payable in U.S. dollars and on a U.S. bank to the order of the Company’s designated broker/agent; or by authorizing the Company’s designated broker/agent to sell the Shares
acquired upon the exercise of the Option and remit to the Company a sufficient portion of the sale proceeds to pay the entire Exercise Price, applicable brokerage fees, and any withholding and/or taxes and applicable fees resulting from such
exercise as described in Section 4 hereof; or, if not problematic under local law, by (i) delivery of a certificate or certificates for Shares owned by you having a Fair Market Value at the date of exercise equal to the aggregate Exercise
Price being paid in this way, or (ii) if then permitted by the Committee or its designee, by instructing the Company to withhold from the Shares issuable upon exercise of the Option the number of Shares having a Fair Market Value at the date of
exercise equal to the aggregate Exercise Price being paid in this way, or in a combination of the foregoing; provided, however, that payment in Shares under clause (i) above will not be permitted unless at least 100 Shares are required and
delivered for such purpose. Any stock certificate or certificates to be delivered to the Company in payment of the Exercise Price must be endorsed, or accompanied by an appropriate stock power, to the order of Mead Johnson Nutrition Company, with
the signature guaranteed by a bank or trust company or by a member firm of the New York Stock Exchange. In lieu of the physical delivery of certificates, you may submit certificates by attestation. 
 No Shares will be issued pursuant to the exercise of an Option unless such issuance and such exercise have complied with all relevant provisions of law and requirements
of any stock exchange upon which the Shares may then be listed. As a condition to the exercise of the Option, the Company may require you to make any representation or warranty to the Company as may be required under any applicable law or
regulation. 
 4. Withholding and Employment Taxes Upon Exercise of Option. You must pay the Company upon its demand the amount equal to its
liability, if any, for the withholding of federal, state or local income or earnings tax or any other applicable tax or assessment (plus interest or penalties thereon, if any, caused by a delay in making such payment) incurred by reason of your
exercise of the 

  

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Option or otherwise in connection with your Option. You may satisfy these withholding tax obligations by authorizing the Company’s designated
broker/agent to sell an appropriate number of shares being issued on exercise to cover the federal, state, and local income and earnings taxes, or by directing the Company to withhold Shares out of the Option Shares with a Fair Market Value up to
but not exceeding the federal, state, and local income and earnings taxes required to be withheld. If, on the date of exercise, you are an “executive officer” of the Company within the meaning of Section 16 of the Securities Exchange
Act of 1934, you must pay these withholding tax obligations in cash or use Share withholding to satisfy the obligation to pay federal, state, and local income and earnings taxes required to be withheld on the exercise. 
 5. Termination of Employment. Except as provided in this Section 5, any portion of the Option that has not vested at or before the date on which you
have a Termination of Employment shall be canceled and forfeited, unless otherwise determined by the Committee. 
 (a)
Retirement. If you have a Termination of Employment due to Retirement less than one year after the Award Date, any unvested portion of the Option will be canceled and forfeited. If you have a Termination of Employment due to Retirement
one year or more after the Award Date, the Option will become fully vested upon your Retirement date and you will be entitled to exercise the Option (including any portions that vested at age 60 or otherwise vested before Retirement under
Section 2) at any time until the stated Expiration Date, subject to Sections 6 and 7. 
 (b) Disability. If you become
Disabled, you will not be deemed to have a Termination of Employment for that reason for the period during which, under the applicable disability pay plan of the Company or an Affiliate or Subsidiary, you are deemed to be employed and continue to
receive Disability payments. Upon the cessation of payments under such disability pay plan, (i) if you return to employment status with the Company or an Affiliate or Subsidiary, you will not be deemed to have had a Termination of Employment,
and (ii) if you do not return to such employment status, you will be deemed to have had a Termination of Employment at the date of cessation of such Disability payments, with such Termination of Employment treated for purposes of this Agreement
as a Retirement, death, or voluntary Termination of Employment based on your circumstances at the time of such termination. For purposes of this Agreement, “Disability” or “Disabled” shall mean qualifying for and receiving
payments under a disability plan of the Company or any Affiliate or Subsidiary either in the United States or in a jurisdiction outside of the United States, and in jurisdictions outside of the United States shall also include qualifying for and
receiving payments under a mandatory or universal disability plan or program managed or maintained by the government. 
 (c)
Death. If you die while you are employed by the Company or an Affiliate or Subsidiary on a date less than one year after the Award Date, the Option will be canceled and forfeited. If you die while you are employed by the Company or an
Affiliate or Subsidiary on a date one year or more after the Award Date, your Option will be fully vested upon your death and your estate may exercise the Option at any time until the stated Expiration Date, subject to Sections 6 and 7. If you die
after a Termination of Employment other than due to Retirement, and your death occurs within the three-month post-termination exercise period applicable under Section 5(d), the Option will remain outstanding and exercisable for one year after
your date of death, but in no event past the Expiration Date. Your personal representative or your estate may exercise your Option during any permitted exercise period following your death. At the end of such post-termination exercise period, any
unexercised portion of the Option will be canceled and forfeited. 
  

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 (d) Other Terminations. If you have a Termination of Employment due to your resignation and
you are not then eligible for Retirement, any unvested portion of the Option will be forfeited and canceled at the time of your Termination of Employment. In such case, you may exercise any vested portion of the Option within three months after your
termination date, but in no event after the Expiration Date. If you have a Termination of Employment by the Company or an Affiliate or Subsidiary for reasons other than misconduct or other conduct deemed detrimental to the interests of the Company
or an Affiliate or Subsidiary, including a Qualifying Termination within three years after a Change in Control, and you are not then eligible for Retirement, if the Termination of Employment occurs one year or more after the Award Date (except in
the case of a Qualifying Termination within three years after a Change in Control), the Option will be fully vested upon such termination provided that you sign a general release (only applicable for employees employed in the U.S. and Puerto Rico)
and, if requested by the Company or the Affiliate or Subsidiary, you sign a non-competition and/or non-solicitation agreement and make other commitments for the protection of the business of the Company, Affiliates and Subsidiaries; in such case,
you may exercise any vested portion of the Option within three months after your termination date, but in no event after the Expiration Date. At the end of such post-termination exercise period, any unexercised portion of the Option will be canceled
and forfeited. 
 (e) General Provisions. “Termination of Employment” means the occurrence of any event if
immediately thereafter you are no longer an employee of the Company or an Affiliate or Subsidiary. Such an event could include the disposition of an Affiliate or Subsidiary or business unit by the Company or an Affiliate or Subsidiary. References in
this Section 5 to employment by the Company include employment by an Affiliate or Subsidiary. The following events shall not be deemed a Termination of Employment: 
  

	 	(i)	A transfer of you from the Company to an Affiliate or Subsidiary, or vice versa, or from one Affiliate or Subsidiary to another, or from the Company or an Affiliate or Subsidiary to
BMS while BMS is an Affiliate; 

  

	 	(ii)	A leave of absence, duly authorized in writing by the Company or an Affiliate or Subsidiary, for military service or sickness or for any other purpose approved by the Company or an
Affiliate or Subsidiary if the period of such leave does not exceed 90 days; and 

  

	 	(iii)	A leave of absence in excess of 90 days, duly authorized in writing, from the Company or an Affiliate or Subsidiary, provided your right to reemployment is guaranteed either by a
statute or by contract. 

 However, your failure to return to active service to the Company or an Affiliate or Subsidiary at the end of an
approved leave of absence shall be deemed a Termination of Employment. During a leave of absence as defined in (ii) or (iii) above, although you will be considered to have been continuously employed by the Company or an Affiliate or
Subsidiary and not to have incurred a 

  

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Termination of Employment under this Section 5, the Committee may specify such leave period shall not be counted in determining the period of employment
for purposes of the vesting of this Option. In such case, the vesting dates for the unvested portions of the Option shall be extended by the length of any such leave of absence. 
 6. Forfeiture in the Event of Competition, Solicitation or Other Detrimental Acts. You acknowledge that your continued employment with the Company is sufficient consideration for this Agreement,
including, without limitation, the restrictions imposed upon you by this Section 6. 
 (a) Forfeiture Events. A
“Forfeiture Event” shall have occurred if, during the Restricted Period (as defined below), without the prior consent of the Company, you commit any of the following acts or permit any of the following conditions to exist, directly or
indirectly: 
  

	 	(i)	You own or have any financial interest in a Competitive Business (as defined below), except that nothing in this clause shall prevent you from owning one percent or less of the
outstanding securities of any entity whose securities are traded on a U.S. national securities exchange (including NASDAQ) or an equivalent foreign exchange; 

  

	 	(ii)	You are actively connected with a Competitive Business by managing, operating, controlling, being an employee or consultant of (or accepting an offer to be an employee or
consultant) or otherwise advising or assisting a Competitive Business in such a way that such connection might result in an increase in value or worth of any product, technology or service that competes with any product, technology or service upon
which you worked or about which you became familiar as a result of your employment with the Company or an Affiliate or Subsidiary. You may, however, be actively connected with a Competitive Business after your employment with the Company or an
Affiliate or Subsidiary terminates for any reason, so long as your connection to the business does not involve any product, technology or service that competes with any product, technology or service upon which you worked or about which you became
familiar as a result of your employment with the Company or an Affiliate or Subsidiary and the Company is provided written assurance of this fact from the Competitive Business prior to your beginning such connection; 

  

	 	(iii)	You take any action that might divert any opportunity from the Company, any Affiliate or Subsidiary, or any of their respective successors or assigns (the “Related
Parties”) that is within the scope of the present or future operations or business of any Related Parties; 

  

	 	(iv)	You employ, solicit for employment, advise or recommend to any other person that they employ or solicit for employment or form an association with any person who is employed by the
Company or an Affiliate or Subsidiary or who has been employed by the Company or an Affiliate or Subsidiary within one year of the date your employment with the Company or an Affiliate or Subsidiary ceased for any reason whatsoever;

  

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	 	(v)	You contact, call upon or solicit any customer of the Company or an Affiliate or Subsidiary, or attempt to divert or take away from the Company or an Affiliate or Subsidiary the
business of any of its customers; 

  

	 	(vi)	You contact, call upon or solicit any prospective customer of the Company or an Affiliate or Subsidiary that you became aware of or were introduced to in the course of your duties
for the Company or an Affiliate or Subsidiary, or otherwise divert or take away from the Company or an Affiliate or Subsidiary the business of any prospective customer of the Company or an Affiliate or Subsidiary; or 

  

	 	(vii)	You engage in any activity that is harmful to the interests of the Company or an Affiliate or Subsidiary, including, without limitation, any conduct during the term of your
employment that violates the Company’s Code of Conduct, securities trading policy and other policies. 

 (b)
Forfeiture. If the Committee determines that a Forfeiture Event has occurred or is ongoing, then the following forfeitures and related actions will occur: 
  

	 	(i)	Any portion of the Option (whether or not vested) that has not been exercised as of the date of such determination shall be immediately canceled and forfeited;

  

	 	(ii)	You shall automatically forfeit any rights you may have with respect to the Option as of the date of such determination; and 

  

	 	(iii)	If you have exercised all or any part of the Option within the 12-month period immediately preceding the earliest Forfeiture Event (or following the date of the earliest Forfeiture
Event), upon the Company’s demand, you shall immediately deliver to it a certificate or certificates for Shares with a Fair Market Value (determined on the date of such demand) equal to the gain realized by you upon such exercise.

 (c) Definitions. For purposes of this Section 6, the following definitions shall apply: 
  

	 	(i)	The Company, Affiliates and Subsidiaries directly advertise and solicit business from customers wherever they may be found, and their business is thus worldwide in scope. Therefore,
“Competitive Business” means any person or entity that engages in any business activity that competes with the Company’s or an Affiliate’s or Subsidiary’s business in any way, in any geographic area in which the
Company, Affiliate or Subsidiary engages in business, including, without limitation, any state in the United States in which the Company, Affiliate or Subsidiary sells or offers to sell its products from time to time. 

  

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	 	(ii)	“Restricted Period” means the period during which you are employed by the Company or an Affiliate or Subsidiary and twelve months following the date that you cease
to be employed by the Company or an Affiliate or Subsidiary for any reason whatsoever. 

 (d) Severability. You
acknowledge and agree that the period, scope and geographic areas of restriction imposed upon you by the provisions of Section 6 are fair and reasonable and are reasonably required for the protection of the Company, Affiliates and Subsidiaries.
In the event that any part of this Agreement, including, without limitation, Section 6, is held to be unenforceable or invalid, the remaining parts of this Agreement and Section 6 shall nevertheless continue to be valid and enforceable as
though the invalid portions were not a part of this Agreement. If any one of the provisions in Section 6 is held to be excessively broad as to period, scope or geographic area, any such provision shall be construed by limiting it to the extent
necessary to be enforceable under applicable law. 
 (e) Additional Remedies. You acknowledge that breach by you of this
Agreement would cause irreparable harm to the Company, Affiliates and Subsidiaries, and that in the event of such breach, the Company shall have, in addition to monetary damages and other remedies at law, the right to an injunction, specific
performance and other equitable relief to prevent violations of your obligations hereunder. 
 7. Adjustments in the Event of Change in Stock.
The number of Shares purchasable upon exercise of your Option, the Exercise Price, and other related terms shall be appropriately adjusted in order to prevent dilution or enlargement of your rights with respect to the Option, to reflect any changes
in the outstanding Shares resulting from any event referred to in Section 11(c) of the Plan or any other “equity restructuring” as defined in FAS 123R. The manner of such adjustment shall be in the sole discretion of the Committee.
The foregoing notwithstanding, if a transaction occurs, such as a merger, in which each holder of less than five percent of the Company’s outstanding common stock will receive only cash, an adjustment may be made to your Option to provide that
the Option will be cancelled and you will receive an amount in cash equal to the amount by which the consideration per Share to be received by such stockholder exceeds the Exercise Price per Share multiplied by the number of Shares then subject to
your Option. 
 8. Data Privacy. By entering into this Agreement, you (a) authorize the Company and any agent of the Company administering
the Plan or providing Plan recordkeeping services to disclose to the Company or any Affiliate or Subsidiary such information and data as the Company or any such Affiliate or Subsidiary shall request in order to facilitate the grant of options and
the administration of the Plan; (b) waive any data privacy rights you may have with respect to such information; and (c) authorize the Company to store and transmit such information in electronic form. 
 9. Administration. The Committee shall have full authority and discretion, subject only to the express terms of the Plan, to decide all matters relating to
the administration and interpretation of the Plan and this Agreement, and all such Committee determinations shall be final, conclusive, and binding upon the Company, any Affiliate or Subsidiary, you, and all interested parties. 
  

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 10. Other Provisions. 
 (a) Binding Agreement; Amendment. This Agreement shall be binding upon and inure to the benefit of the heirs, executors, administrators and successors of the parties. This Agreement constitutes the
entire agreement between the parties with respect to the Option and supersedes any prior agreements or documents with respect to the Option. No amendment or alteration of this Agreement which may impose any additional obligation upon the Company
shall be valid unless expressed in a written instrument duly executed in the name of the Company, and no amendment, alteration, suspension or termination of this Agreement which may materially impair your rights with respect to the Option shall be
valid unless expressed in a written instrument executed by you. This Agreement shall be subject to the terms of the Plan, as amended from time to time, except that the terms of this Agreement may not be materially adversely affected by any amendment
or termination of the Plan approved after the Award Date without your written consent. 
 (b) Waiver. The waiver by the Company
or an Affiliate or Subsidiary of any provision of this Agreement shall not operate as or be construed to be a subsequent waiver of the same provision or waiver of any other provision hereof. 
 (c) Effect on Other Benefits. In no event shall the value, at any time, of this Option or any of your rights to receive compensation under
this Agreement be included as compensation or earnings for purposes of any other compensation, retirement, or benefit plan offered to employees of the Company or any Affiliate or Subsidiary unless otherwise specifically provided for in such plan.

 (d) Right to Continued Employment. Nothing in the Plan or this Agreement shall confer on you any right to continue in the
employ of the Company or any Affiliate or Subsidiary or any specific position or level of employment with the Company or any Affiliate or Subsidiary or affect in any way the right of the Company or any Affiliate or Subsidiary to terminate your
employment without prior notice at any time for any reason or no reason. 
 (e) Shareholder Rights. You and your beneficiary
shall not have any rights with respect to Shares (including voting rights) purchasable upon exercise of the Option prior to the valid exercise of the Option. 
 (f) Governing Law. This Agreement shall be governed by the substantive laws (but not the choice of law rules) of the State of Delaware. 
  

			
	Mead Johnson Nutrition Company
		
	By:	 	  

		 	[            ]

  

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 I understand that this Option has been granted to provide a means for me to acquire and/or expand an ownership position
in Mead Johnson Nutrition Company, and it is expected that I will retain the stock I receive upon the exercise of this Option consistent with the Company’s share retention guidelines in effect at the time of exercise of this Award. I
acknowledge and agree that (i) the Option is nontransferable, except as provided in Section 2(b) hereof and Section 11(b) of the Plan, (ii) the Option is subject to forfeiture in the event of my Termination of Employment in
certain circumstances, as specified in Section 5 hereof, and (iii) sales of Shares will be subject to the Company’s policy regulating trading by employees. In accepting this grant, I hereby agree that Smith Barney, or such other
vendor as the Company may choose to administer the Plan, may provide the Company with any and all account information necessary to monitor my compliance with the Company’s Share Retention Policy and other applicable policies. 
 I hereby agree to the foregoing terms and conditions and accept the grant of the Option subject thereto. 
  

 9Form of Performance Shares Agreement

 Exhibit 10.35 
 [MEAD JOHNSON LETTERHEAD] 
 PERFORMANCE SHARES AGREEMENT 
 Under the Mead Johnson Nutrition Company 
 2009
Stock Award and Incentive Plan 
 [year 1]-[year 3] Performance Shares Award 
 Mead Johnson Nutrition Company (the “Company”) has granted you a Performance Shares Award as set forth in the Grant Summary. This Award is
subject in all respects to the terms, definitions and provisions of the Mead Johnson Nutrition Company 2009 Stock Award and Incentive Plan (the “Plan”) adopted by the Company. Capitalized terms not defined herein shall have the
meanings assigned to such terms in the Plan. 
 Award Date:
[                    ] 
 Performance
Cycle Start Date: [                    ] 
 Please refer to the Grant Summary for the Target Number of Performance Shares relating to the [year 1]-[year 3] Performance Period: 
 [    ] Performance Shares (09-11 Cycle): One-third of total award 
 [    ] Performance Shares (09-11 Cycle): One-third of total award 
 [    ] Performance
Shares (09-11 Cycle): One-third of total award 
 The year referenced for each of these three “tranches” is the “Performance
Year” for that tranche. 
 Range at which Performance Shares may be earned for varying performance: 
 Threshold: [    ]% of Target 
 Target: [    ]% of Target 
 Maximum: [    ]% of Target 
 Performance Goal and Earning Date: A separate Performance Goal will be set for each tranche by March 30 of the Performance Year, specifying the
number of Performance Shares that may be earned for specified levels of performance. The Earning Date will be December 31 of the Performance Year. The Performance Goal for the [year 1] Performance Shares is attached as Exhibit A hereto.

 Vesting: Earned Performance Shares will vest at the date between January 1,
[            ] and March 15, [            ], at which the Committee determines and certifies the extent to which the
Performance Goals for the [year 3] Performance Shares have been met, subject to earlier vesting at the times indicated in Sections 6 (including in connection with certain terminations following a Change in Control) and Section 8. 

Settlement: Earned and vested Performance Shares will be settled by delivery of one share of the Company’s common stock, $0.01 par value per share
(“Shares”), for each Performance Share being settled. No Dividend Equivalents will accrue or be payable in connection with Performance Shares. Settlement shall occur at the time specified in Section 4 hereof. 

	1.	PERFORMANCE SHARE AWARD 

 The Compensation Committee
of the Board of Directors of Mead Johnson Nutrition Company (the “Committee”) has granted to you the opportunity to earn the [year 1] Performance Shares as designated herein subject to the terms, conditions and restrictions set
forth in this Agreement. In addition, the Committee hereby indicates its intention to grant to you the opportunity to earn the [year 2] Performance Shares and the [year 3] Performance Shares for the [year 1]-[year 3]
Performance Period and subject to this Agreement; such grants shall become effective only at such time as the Committee has specified the Performance Goal for those Performance Shares (by March 30 of the relevant Performance Year), except as
otherwise provided in this Section 1 and in Sections 6(a) and 6(b). The target number of each tranche of Performance Shares and the kind of Shares deliverable in settlement, the calculation of earnings per Share as a Performance Goal, and other
terms and conditions of the Performance Shares are subject to adjustment in accordance with Section 11 hereof and Section 11(c) of the Plan. In the event of a Change in Control (as defined in Section 9(b) of the Plan), you will become
legally entitled to have the grant of Performance Shares specified hereunder become effective (i) for the Performance Year in effect at the date of such Change in Control, at the time of such Change in Control (if the grant was not previously
effective) if you were employed by the Company or an Affiliate or Subsidiary immediately before such Change in Control, and (ii) for any Performance Year beginning after the year in which such Change in Control occurred, at the beginning of
such Performance Year if you remain so employed by the Company or an Affiliate or Subsidiary at that time. In each case relating to Performance Shares the grant of which is effective at or following such Change in Control, the Performance Goal for
such Performance Shares shall be reasonably achievable and not more difficult to achieve in relation to the Company’s budget for that Performance Year than the Performance Goal for any earlier Performance Year was in relation to the budget for
that earlier Performance Year. 
  

	2.	CONSIDERATION 

 As consideration for grant of the
[year 1] Performance Shares, you shall remain in the continuous employ of the Company and/or an Affiliate or Subsidiary for at least one year from the first day of the Performance Period or such lesser period as the Committee shall determine
in its sole discretion, and no Performance Shares shall be payable until after the completion of such one year or lesser period of employment by you (subject to Section 6(c)). No [year 2] Performance Shares or [year 3] Performance
Shares shall be granted hereunder unless you have met the one-year continuous employment requirement specified in this Section 2, measured from the first day of the applicable Performance Period. 
 For purposes of determining whether you meet the one-year continuous employment requirement of this Section 2, the following events shall not be
deemed a termination of employment: 
 (i) A transfer of you from the Company to an Affiliate or Subsidiary, or vice versa, or from one
Affiliate or Subsidiary to another, or from the Company or an Affiliate or Subsidiary to BMS while BMS is an Affiliate; 
  

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 (ii) A leave of absence, duly authorized in writing by the Company, for military service or sickness or
for any other purpose approved by the Company if the period of such leave does not exceed ninety (90) days, and 
 (iii) A leave of
absence in excess of ninety (90) days, duly authorized in writing, by the Company, provided your right to reemployment is guaranteed either by a statute or by contract. 
 However, your failure to return to active service with the Company or an Affiliate or Subsidiary at the end of an approved leave of absence shall be deemed a termination of employment. During a leave of absence as
defined in (ii) or (iii), although you will be considered to have been continuously employed by the Company or an Affiliate or Subsidiary and not to have incurred a termination of employment under this Section 2, the Committee may specify
such leave period shall not be counted in determining the period of employment for purposes whether you have completed a full year of employment. In such case, one-year of continuous employment requirement shall be extended by the length of any such
leave of absence. 
  

	3.	PERFORMANCE GOALS 

 The Performance Goals for the
[year 1] Performance Shares are specified on the cover page of this Agreement and Exhibit A hereto, and for the 2010 Performance Shares and 2011 Performance Shares shall be specified in writing in such manner as the Committee may determine.

  

	4.	DETERMINATION OF PERFORMANCE SHARES EARNED AND VESTED; FORFEITURES; SETTLEMENT 

 By March 15 of the year following each Performance Year, the Committee shall determine the extent to which Performance Shares have been earned on the basis of the Company’s actual performance in relation to
the established Performance Goals for the Performance Shares relating to that Performance Year, provided, however, that the Committee may exercise its discretion (reserved under Sections 7(a) and 7(c)(iv) of the Plan) to reduce the amount of
Performance Shares deemed earned in its assessment of performance in relation to Performance Goals, or in light of other considerations the Committee deems relevant. The Committee shall certify these results in writing in accordance with
Section 7(c)(v) of the Plan, subject to any limitation under Section 7 hereof (if you are Disabled during the Performance Year in excess of 26 weeks). Any Performance Shares that are not, based on the Committee’s determination, earned
by performance in a Performance Year (or deemed to be earned in connection with a Separation from Service under Sections 6 and 8 below), including Performance Shares that had been potentially earnable by performance in excess of the actual
performance levels achieved, shall be canceled and forfeited. 
 Performance Shares are subject to vesting based on your service for periods
which extend past the applicable Performance Year. The stated vesting date is set forth on the cover page hereof. If, before the stated vesting date, there occurs an event immediately after which you are not an employee of the Company or any
Affiliate or Subsidiary, you will become vested in Performance Shares only to the extent provided in Section 6 or 8, and any Performance Shares that have not been earned and vested at or before such event and which cannot thereafter be earned
and vested under Sections 6 or 8 shall be canceled and forfeited. 
  

 3 

 In certain termination events, as specified below, and in connection with a long-term Disability (as
defined in Section 7 below), you will be entitled to vesting of a “Pro Rata Portion” of the Performance Shares earned or deemed earned hereunder. For purposes of this Agreement, in the case of a Separation from Service, the Pro Rata
Portion is calculated as the number of Performance Shares relating to a given Performance Year multiplied by a fraction the numerator of which is the number of months you were employed from the commencement of that Performance Year through the end
of the month in which your Separation from Service occurred (but not more than 12) and the denominator of which is 12; provided, however, that the number of months you were employed shall be reduced by the number of months during such Performance
Year in which you were Disabled in excess of 26 weeks since the commencement of the Disability. For purposes of this Agreement, in the case of a Disability extending longer than 26 weeks, the Pro Rata Portion is calculated as the number of
Performance Shares relating to a given Performance Year multiplied by a fraction the numerator of which is 12 minus the number of months you were Disabled in excess of 26 weeks since the commencement of the Disability, and the denominator of which
is 12. For purposes of calculations under this paragraph: (a) one or more days worked in a given month is counted as a full month of employment; and (b) one or more days on Disability in a given month in which the duration of Disability
has not yet exceeded 26 weeks is also counted as a full month of employment. 
 The number of Performance Shares earned or vested shall be
rounded to the nearest whole Performance Share, unless otherwise determined by the Company officers responsible for day-to-day administration of the Plan. 
 Performance Shares that become vested while you remain employed by the Company or an Affiliate or Subsidiary shall be settled promptly upon vesting (but in no event later than March 15 of the calendar year
immediately following the date of vesting) by delivery of one Share for each Performance Share being settled, unless validly deferred in accordance with deferral terms then authorized by the Committee (subject to Section 11(k) of the Plan).
Performance Shares that become vested under Sections 6(a), 6(b), 6(c) or 8 below shall be settled at the times specified therein; provided, however, that settlement of Performance Shares under Section 6(a), (b) or (c) shall be subject
to the applicable provisions of Section 11(k) of the Plan. Until Shares are delivered to you in settlement of Performance Shares, you shall have none of the rights of a stockholder of the Company with respect to the Shares issuable in
settlement of the Performance Shares, including the right to vote the shares and receive dividends and other distributions. Shares of stock issuable in settlement of Performance Shares shall be delivered to you upon settlement in certificated form
or in such other manner as the Company may reasonably determine. 
  

	5.	NONTRANSFERABILITY OF PERFORMANCE SHARES AND DESIGNATION OF BENEFICIARY 

 Performance Shares shall not be transferable by you other than by will or by the laws of descent and distribution, except that you may designate a Beneficiary pursuant to the provisions hereof on a Designation of
Beneficiary form. 
  

 4 

 If you and/or your Beneficiary attempt to assign your rights under this Agreement in violation of the
provisions herein, the Company’s obligation to settle Performance Shares or otherwise make payments shall terminate. 
 If no designated
Beneficiary is living on the date on which Shares are deliverable in settlement or other amount becomes payable to you, or if no Beneficiary has been specified, such settlement or payment will be payable to the person or persons in the first of the
following classes of successive preference: 
  

	 	(i)	widow or widower, if then living, 

  

	 	(ii)	surviving children, equally, 

  

	 	(iii)	surviving parents, equally, 

  

	 	(iv)	surviving brothers and sisters, equally, 

  

	 	(v)	executors or administrators 

 and the term “Beneficiary” as used
in this Agreement shall include such person or persons. 
  

	6.	RETIREMENT AND OTHER TERMINATIONS (EXCLUDING DEATH) 

 (a) Retirement. In the event of your Retirement prior to settlement of Performance Shares and after you have satisfied the one-year continuous employment requirement of Section 2, you will be deemed vested (i) in any
Performance Shares that relate to a Performance Year completed before your Retirement and which have been determined or thereafter are determined by the Committee to have been earned under Section 4 above, and (ii) with respect to
Performance Shares relating to a Performance Year in progress at the date of your Retirement, in a Pro Rata Portion of the Performance Shares you would have actually earned for that Performance Year if you had continued to be employed by the Company
or an Affiliate or Subsidiary through the date the Committee determines the earning of the Performance Shares for that Performance Year under Section 4. (For this purpose, if the grant of Performance Shares relating to the Performance Year in
progress at the date of your Retirement has not yet become effective, such grant shall be deemed to be effective immediately before the Retirement and shall have the same terms as applicable to participating employees who remain employed). Any
Performance Shares earned and vested under this Section 6(a) shall be settled at the earlier of (x) the date such Performance Shares would have vested if you had continued to be employed by the Company or an Affiliate or Subsidiary,
(y) in the event of a Change in Control (as such definition is modified in Section 11(k)(i)(D)(5) of the Plan), as to previously earned Performance Shares promptly upon such Change in Control and, in the case of any unearned
Performance Shares (subject to Section 1 above), promptly following the date at which the Committee determines the extent to which such Performance Shares have been earned (in each case subject to Section 6(e) below and Section 11(k)
of the Plan), or (z) in the event of your death, in the year following the Performance Year in which your Retirement occurred (following the Committee’s determination of the extent to which any remaining unearned Performance Shares
have been earned) or, if your death occurred after that year, as promptly as practicable following your death, but in no event later than December 31 of the calendar year in which your death occurs or, if later, two and one-half months
following the date of your death. Following your Retirement, any Performance Shares that have not been earned and vested and which thereafter will not be deemed earned and vested under this Section 6(a) will be canceled and forfeited.

  

 5 

 (b) Termination by the Company Not For Cause. In the event of your Termination Not for Cause (as
defined in Section 6(f) below) by the Company or an Affiliate or Subsidiary and not during the Protected Period (as defined in Section 6(f) below), prior to settlement of Performance Shares and after you have satisfied the one-year
continuous employment requirement of Section 2, you will be deemed vested (i) in any Performance Shares that relate to a Performance Year completed before such termination and which have been determined or thereafter are determined by the
Committee to have been earned under Section 4, and (ii) with respect to Performance Shares relating to a Performance Year in progress at the date of such termination, in a Pro Rata Portion of the Performance Shares you would have actually
earned for that Performance Year if you had continued to be employed by the Company or an Affiliate or Subsidiary through the date the Committee determines the earning of the Performance Shares for that Performance Year under Section 4. (For
this purpose, if the grant of Performance Shares relating to the Performance Year in progress at the date of your Termination Not for Cause has not yet become effective, such grant shall be deemed to be effective immediately before your termination
and shall have the same terms as applicable to participating employees who remain employed). Any Performance Shares earned and vested under this Section 6(b) shall be settled at the earlier of (x) the date such Performance Shares
would have vested if you had continued to be employed by the Company or an Affiliate or Subsidiary, (y) in the event of a Change in Control (as defined in Section 11(k)(i)(D)(5) of the Plan), as to previously earned Performance
Shares promptly upon such Change in Control and, in the case of any unearned Performance Shares (subject to Section 1 above), promptly following the date at which the Committee determines the extent to which such Performance Shares have been
earned (in each case subject to Section 6(e) below and Section 11(k) of the Plan), or (z) in the event of your death, in the year following the Performance Year in which your Termination Not for Cause occurred (following the
Committee’s determination of the extent to which any remaining unearned Performance Shares have been earned) or, if your death occurred after that year, as promptly as practicable following your death, but in no event later than
December 31 of the calendar year in which your death occurs or, if later, two and one-half months following the date of your death. Following such Termination Not for Cause, any Performance Shares that have not been earned and vested and which
thereafter will not be deemed earned and vested under this Section 6(b) will be canceled and forfeited. 
 (c) Qualifying Termination
Following a Change in Control. In the event that you have a Qualifying Termination (as defined in Section 9(c) of the Plan) during the Protected Period (as defined in Section 6(f) below) following a Change in Control (as defined in
Section 9(b) the Plan), you will be deemed vested (i) in any Performance Shares that relate to a Performance Year completed before such termination and which have been determined or thereafter are determined by the Committee to have been
earned under Section 4, and (ii) with respect to Performance Shares relating to a Performance Year in progress at the date of your Qualifying Termination (subject to Section 1 above, but including Performance Shares otherwise not
meeting the one-year continuous employment requirement of Section 2 above), in a Pro Rata Portion of the target number of Performance Shares that could have been earned in the Performance Year. All of your earned and vested Performance Shares
shall be settled promptly (subject to Section 6(e) 

  

 6 

 
below and Section 11(k) of the Plan); provided, however, any additional forfeiture conditions in the nature of a “clawback” contained in
Section 10 below shall continue to apply to any payment. Upon your Qualifying Termination, any Performance Shares that have not been deemed earned and vested under this Section 6(c) will be canceled and forfeited. 
 (d) Other Terminations. If you cease to be an employee of the Company and its Affiliates and Subsidiaries for any reason other than Retirement,
Termination Not for Cause, a Qualifying Termination within the Protected Period following a Change in Control, or death, Performance Shares granted herein that have not become both earned and vested shall be canceled and forfeited and you shall have
no right to settlement of any portion of the Performance Shares. 
 (e) Special Distribution Rules to Comply with Code
Section 409A. To the extent that the Performance Shares constitutes a “deferral of compensation” under Section 409A of the Internal Revenue Code of 1986, as amended, (the “Code”), based on Internal Revenue Service
regulations and guidance in effect at the date of grant, the timing of settlement of your Performance Shares will be subject to applicable limitations under Code Section 409A and Section 11(k) of the Plan. By way of example, settlement of
the Performance Shares under Section 6(c) upon a Qualifying Termination will be subject to the requirement that the termination constitute a “separation from service” under Treasury Regulation Section 1.409A-1(h), and subject to
the six-month payment delay rule under Section 11(k)(i)(D)(2) of the Plan if at the time of separation from service you are a Section 409A Specified Employee, as defined in Section 2 of the Plan. 
 (f) Definition of “Protected Period” and “Termination Not for Cause.” For purposes of this Section 6, the “Protected
Period” means the period beginning on the date of a Change in Control and ending on the three-year anniversary of the Change in Control. For purposes of this Section 6, a “Termination Not for Cause” means a Company-initiated
Separation from Service for reason other than willful misconduct, activity deemed detrimental to the interests of the Company or an Affiliate or Subsidiary, or Disability, provided that you execute a general release (only applicable for employees
employed in the U.S. and Puerto Rico) and, where required by the Company, a non-solicitation and/or non-compete agreement with the Company. 
  

	7.	DISABILITY OF PARTICIPANT 

 For purposes of this
Agreement, “Disability” or “Disabled” shall mean qualifying for and receiving payments under a Disability plan of the Company or any Affiliate or Subsidiary either in the United States or in a jurisdiction outside of the United
States, and in jurisdictions outside of the United States shall also include qualifying for and receiving payments under a mandatory or universal Disability plan or program managed or maintained by the government. If you become Disabled, you will
not be deemed to have incurred a Separation from Service for the period during which, under the applicable Disability pay plan of the Company or an Affiliate or Subsidiary, you are deemed to be employed and continue to receive Disability payments.
Upon the cessation of payments under such Disability pay plan, (i) if you return to employment status with the Company or an Affiliate or Subsidiary, you will not be deemed to have incurred a Separation from Service, and (ii) if you do not
return to such employment status, you will be deemed to 

  

 7 

 
have Separated from Service at the date of cessation of such Disability payments, with such separation treated for purposes of the Performance Shares as a
Retirement, death, or voluntary Separation from Service based on your circumstances at the time of such separation. If you have been Disabled for a period in excess of 26 weeks in the aggregate during one or more Performance Years, for each affected
Performance Year you will earn only a Pro Rata Portion of the Performance Shares you otherwise would have earned in respect of such Performance Year. 
  

	8.	DEATH OF PARTICIPANT 

 In the event of your death
while employed by the Company or an Affiliate or Subsidiary and prior to settlement of Performance Shares, but after you have satisfied the one-year continuous employment requirement of Section 2 above, you will be deemed vested (i) in any
Performance Shares that relate to a Performance Year completed before your death and which have been determined or thereafter are determined by the Committee to have been earned under Section 4 above, and (ii) with respect to Performance
Shares relating to a Performance Year in progress at the date of your death, in a Pro Rata Portion of the Performance Shares you would have actually earned for that Performance Year if you had continued to be employed by the Company or an Affiliate
or Subsidiary through the date the Committee determines the earning of the Performance Shares for that Performance Year under Section 4 above. In this case, your Beneficiary shall be entitled to settlement of any of your earned and vested
Performance Shares referred to in clause (i) above by the later of the end of the calendar year in which your death occurred or two and one-half months following the date of your death, and your earned and vested Performance Shares referred to
in clause (ii) in the calendar year following the date of your death as promptly as practicable following the determination of the number of Performance Shares earned under clause (ii) above. In the case of your death, any Performance
Shares that are not deemed earned and vested under this Section 8 will be canceled and forfeited. 
  

	9.	TAXES 

 At such time as the Company or any Affiliate
or Subsidiary is required to withhold taxes with respect to the Performance Shares, or at an earlier date as determined by the Company, you shall make remittance to the Company or to your employer of an amount sufficient to cover such taxes or make
such other arrangement regarding payments of such taxes as are satisfactory to the Committee. The Company, Affiliates and Subsidiaries shall, to the extent permitted by law, have the right to deduct such amount from any payment of any kind otherwise
due to you, including by means of mandatory withholding of shares deliverable in settlement of your Performance Shares, to satisfy the mandatory tax withholding requirements. 
  

	10.	FORFEITURE IN THE EVENT OF COMPETITION AND/OR SOLICITATION OR OTHER DETRIMENTAL ACTS 

 You acknowledge that your continued employment with the Company, Affiliates and Subsidiaries, and this grant of Performance Shares, are sufficient
consideration for this Agreement, including, without limitation, the restrictions imposed upon you by this Section 10. 
  

 8 

 (a) By accepting the Performance Shares granted hereby, you expressly agree and covenant that during the
Restricted Period (as defined in Section 10(c)(i) below), you shall not, without the prior consent of the Company, directly or indirectly: 
  

	 	(i)	own or have any financial interest in a Competitive Business (as defined below), except that nothing in this clause shall prevent you from owning one percent or less of the
outstanding securities of any entity whose securities are traded on a U.S. national securities exchange (including NASDAQ) or an equivalent foreign exchange; 

  

	 	(ii)	be actively connected with a Competitive Business by managing, operating, controlling, being an employee or consultant (or accepting an offer to be an employee or consultant) or
otherwise advising or assisting a Competitive Business in such a way that such connection might result in an increase in value or worth of any product, technology or service, that competes with any product, technology or service upon which you
worked or about which you became familiar as a result of your employment with the Company or an Affiliate or Subsidiary. You may, however, be actively connected with a Competitive Business after your employment with the Company or an Affiliate or
Subsidiary terminates for any reason, so long as your connection to the business does not involve any product, technology or service, that competes with any product, technology or service upon which you worked or about which you became familiar as a
result of your employment with the Company or an Affiliate or Subsidiary and the Company is provided written assurances of this fact from the Competitive Business prior to your beginning such connection; 

  

	 	(iii)	take any action that might divert any opportunity from the Company, any Affiliate or Subsidiary, or any of their respective successors or assigns (the “Related Parties”)
that is within the scope of the present or future operations or business of any Related Parties; 

  

	 	(iv)	employ, solicit for employment, advise or recommend to any other person that they employ or solicit for employment or form an association with any person who is employed by the
Company or an Affiliate or Subsidiary or who has been employed by the Company or an Affiliate or Subsidiary within one year of the date your employment with the Company or an Affiliate or Subsidiary ceased for any reason whatsoever;

  

	 	(v)	contact, call upon or solicit any customer of the Company or an Affiliate or Subsidiary, or attempt to divert or take away from the Company or an Affiliate or Subsidiary the
business of any of its customers; 

  

	 	(vi)	contact, call upon or solicit any prospective customer of the Company or an Affiliate or Subsidiary that you became aware of or were introduced to in the course of your duties for
the Company or an Affiliate or Subsidiary, or otherwise divert or take away from the Company or an Affiliate or Subsidiary the business of any prospective customer of the Company or an Affiliate or Subsidiary; or 

  

 9 

	 	(vii)	engage in any activity that is harmful to the interests of the Company or an Affiliate or Subsidiary, including, without limitation, any conduct during the term of your employment
that violates the Company’s Code of Conduct, securities trading policy and other policies. 

 (b) Forfeiture. You
agree and covenant that, if the Company determines that you have violated any provisions of Section 10(a) above during the Restricted Period (as defined in Section 10(c)(ii) below), then: 
  

	 	(i)	any portion of the Performance Shares that have not been settled or paid to you as of the date of such determination shall be immediately canceled and forfeited;

  

	 	(ii)	you shall automatically forfeit any rights you may have with respect to the Performance Shares as of the date of such determination; 

  

	 	(iii)	if any Performance Shares have become vested within the twelve-month period immediately preceding a violation of Section 10(a) above (or following the date of any such
violation), upon the Company’s demand, you shall immediately deliver to it a certificate or certificates for Shares equal to the number of Shares delivered to you in settlement of such vested Performance Shares if such delivery was made in
Shares, or you shall pay cash equal to the amount of cash paid to you in settlement of such vested Performance Shares if such payment was made in cash; and 

  

	 	(iv)	The foregoing remedies set forth in this Section 10(b) shall not be the Company’s exclusive remedies. The Company reserves all other rights and remedies available to it at
law or in equity. 

 (c) Definitions. For purposes of this Section 10, the following definitions shall apply:

  

	 	(i)	The Company, Affiliates and Subsidiaries directly advertise and solicit business from customers wherever they may be found and their business is thus worldwide in scope. Therefore,
“Competitive Business” means any person or entity that engages in any business activity that competes with the Company’s or an Affiliate’s or Subsidiary’s business in any way, in any geographic area in which the
Company or an Affiliate or Subsidiary engages in business, including, without limitation, any state in the United States in which the Company or an Affiliate or Subsidiary sells or offers to sell its products from time to time.

  

	 	(ii)	“Restricted Period” means the period during which you are employed by the Company or an Affiliate or Subsidiary and twelve months following the date that you no
longer are employed by the Company or an Affiliate or Subsidiary for any reason whatsoever. 

 (d) Severability. You
acknowledge and agree that the period, scope and geographic areas of restriction imposed upon you by the provisions of this Section 10 are fair and reasonable and are reasonably required for the protection of the Company, Affiliates and
Subsidiaries. In the event that any part of this Agreement, including, without limitation, this Section 10, is held to be unenforceable 

  

 10 

 
or invalid, the remaining parts of this Agreement and Section 10 shall nevertheless continue to be valid and enforceable as though the invalid portions
were not a part of this Agreement. If any one of the provisions in this Section 10 is held to be excessively broad as to period, scope and geographic areas, any such provision shall be construed by limiting it to the extent necessary to be
enforceable under applicable law. 
 (e) Additional Remedies. You acknowledge that breach by you of this Agreement would cause
irreparable harm to the Company, Affiliates and Subsidiaries and that in the event of such breach, the Company, Affiliates and Subsidiaries shall have, in addition to monetary damages and other remedies at law, the right to an injunction, specific
performance and other equitable relief to prevent violations of your obligations hereunder. 
  

	11.	ADJUSTMENTS 

 The target number of Performance
Shares, the kind of securities deliverable in settlement of Performance Shares, and any performance measure based on per Share results shall be appropriately adjusted in order to prevent dilution or enlargement of your rights with respect to the
Performance Shares upon the occurrence of an event referred to in Section 11(c) of the Plan. In furtherance of the foregoing, in the event of an “equity restructuring,” as defined in FAS 123R, which affects the Shares, you shall have
a legal right to an adjustment to your Performance Shares which shall preserve without enlarging the value of the Performance Shares, with the manner of such adjustment to be determined by the Committee in its discretion. However, no adjustments
shall be made hereunder for any ordinary cash dividends paid on Shares. Any Performance Shares or related rights which directly or indirectly result from and adjustment to a Performance Share hereunder shall be subject to the same risk of forfeiture
and other conditions as apply to the underlying Performance Share and will be settled at the same time as the underlying Performance Share. 
  

	12.	EFFECT ON OTHER BENEFITS 

 In no event shall the
value, at any time, of the Performance Shares or any other payment or right to payment under this Agreement be included as compensation or earnings for purposes of any other compensation, retirement, or benefit plan offered to employees of the
Company or any Affiliate or Subsidiary unless otherwise specifically provided for in such plan. 
  

	13.	RIGHT TO CONTINUED EMPLOYMENT 

 Nothing in the Plan
or this Agreement shall confer on you any right to continue in the employ of the Company or any Affiliate or Subsidiary or any specific position or level of employment with the Company or any Affiliate or Subsidiary or affect in any way the right of
the Company or any Affiliate or Subsidiary to terminate your employment without prior notice at any time for any reason or no reason. 
  

	14.	ADMINISTRATION 

 The Committee shall have full
authority and discretion, subject only to the express terms of the Plan, to decide all matters relating to the administration and interpretation of the Plan and this Agreement, and all such Committee determinations shall be final, conclusive, and
binding upon the Company, any Affiliate or Subsidiary, you, and all interested parties. Any provision for distribution 

  

 11 

 
in settlement of your Performance Shares and other obligations hereunder shall be by means of bookkeeping entries on the books of the Company and shall not
create in you or any Beneficiary any right to, or claim against any, specific assets of the Company or any Affiliate or Subsidiary, nor result in the creation of any trust or escrow account for you or any Beneficiary. You and any of your
Beneficiaries entitled to any settlement or other payment hereunder shall be a general creditor of the Company. 
  

	15.	AMENDMENT 

 This Agreement shall be subject to the
terms of the Plan, as amended from time to time, except that Performance Shares which are the subject of this Agreement may not be materially adversely affected by any amendment or termination of the Plan approved after the Award Date without your
written consent. 
  

	16.	SEVERABILITY AND VALIDITY 

 The various provisions
of this Agreement are severable and any determination of invalidity or unenforceability of any one provision shall have no effect on the remaining provisions. 
  

	17.	GOVERNING LAW 

 This Agreement shall be governed by
the substantive laws (but not the choice of law rules) of the State of Delaware. 
  

	18.	SUCCESSORS 

 This Agreement shall be binding upon
and inure to the benefit of the successors, assigns, and heirs of the respective parties. 
  

	19.	DATA PRIVACY 

 By entering into this agreement, you
(i) authorize the Company, and any agent of the Company administering the Plan or providing Plan recordkeeping services, to disclose to the Company or any Affiliate or Subsidiary such information and data as the Company or any such Affiliate or
Subsidiary shall request in order to facilitate the grant of Performance Shares and the administration of the Plan; (ii) waive any data privacy rights you may have with respect to such information; and (iii) authorize the Company to store
and transmit such information in electronic form. 
  

	20.	ENTIRE AGREEMENT AND NO ORAL MODIFICATION OR WAIVER 

 This Agreement contains the entire understanding of the parties. This Agreement shall not be modified or amended except in writing duly signed by the parties except that the Company may adopt a modification or amendment to the Agreement
that is not materially adverse to you in writing signed only by the Company. Any waiver of any right or failure to perform under this Agreement shall be in writing signed by the party granting the waiver and shall not be deemed a waiver of any
subsequent failure to perform. 
  

 12 

			
	For the Company
	Mead Johnson Nutrition Company
		
	By:	 	  

		 	[                        ]
		
	Date:	 	  

 I have read this Agreement in its entirety. I hereby agree to the foregoing terms and conditions and accept
the Performance Share Award subject thereto. 
  

 13 

 Exhibit A 
 PERFORMANCE SHARES AGREEMENT 
 Under the Mead Johnson Nutrition Company 
 2009 Stock Award and Incentive Plan 
 [year
1]-[year3] Performance Shares Award — 
 [year 1] Performance Goals 
 The number of [year 1] Performance Shares earned by Participant shall be determined as of December 31, [year 1] (the “Earning
Date”), based on the Company’s [year 1] Net Sales Performance, [year 1] Non-GAAP Diluted EPS Performance and [year 1] Non-GAAP Cash Flow, each as defined below, determined based on the following grid: 
  

													
	 Performance Measure
	  	Threshold	 	 	Target	 	 	Maximum	 
	 [year 1] Net Sales
	  	$	[            	] million	 	$	[            	] million	 	$	[            	] million
	 [year 1] Non-GAAP Diluted EPS
	  	$	[            	]	 	$	[            	]	 	$	[            	]
	 [year 1] Non-GAAP Cash Flow
	  	$	[            	]	 	$	[            	]	 	$	[            	]

 Participant shall earn [    ]% of the target number of [year1] Performance
Shares for “Threshold Performance,” [    ]% of the target number of [year1] Performance Shares for “Target Performance,” and [    ]% of the target number of [year 1]
Performance Shares for “Maximum Performance.” For this purpose, [year1] Net Sales Performance, [year1] Non-GAAP Diluted EPS Performance and [year1] Non-GAPP Cash Flow are equally weighted, so level of earning of
[year 1] Performance Shares shall be determined as a percentage for each performance measure and the three percentages averaged. 
 Determinations of
the Committee regarding [year1] Net Sales Performance, [year1] Non-GAAP Diluted EPS Performance and [year1] Non-GAPP Cash Flow, the resulting [year1] Performance Shares earned and related matters will be final and binding
on Participant. In making its determinations, the Committee may exercise its discretion (reserved under Plan Sections 7(a) and 7(c)(iv)) to reduce the amount of Performance Shares deemed earned, in its sole discretion. 
 Except for adjustments in the event of an extraordinary dividend or dividend payable in Shares, no dividends or Dividend Equivalents will accrue with respect to
Performance Shares in respect of any record date that precedes settlement of the Performance Shares. 
  

 14

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