Document:

Severance Agreement

 Exhibit 10.162 
  

					
	 Employee
	  	 Section 2.01 Base Salary
 and Bonus Multiplier
	  	 Section 2.03 Welfare
 Benefit Period

	 Fredric N. Eshelman
	  	3.0	  	2 years
	 Linda Baddour
	  	2.5	  	2 years
	 Paul S. Covington
	  	2.5	  	1 year
	 Colin Shannon
	  	2.0	  	1 year
	 Brainard Judd Hartman
	  	1.0	  	2 years
	 Kim V. Greene
	  	1.0	  	1 year
	 Edward J. Murray
	  	1.0	  	1 year

 SEVERANCE AGREEMENT 
 THIS AGREEMENT, effective the 1st day of January, 2001, by and between Pharmaceutical Product Development, Inc. and its subsidiaries and affiliates (collectively, “PPD”) and
                         (“Employee”). 
 WHEREAS, Employee is a valued employee of PPD and in order to induce Employee to remain in the employ of PPD, PPD desires to provide the severance
benefits hereinafter described in the event of a “Change in Control”, as hereinafter defined, of PPD. 
 NOW, THEREFORE, it is
agreed as follows: 
 1. Definitions 
 1.01 “AFR” means the interest rate determined under Section 1274 of the Code. 
 1.02 “Base Amount” shall have the meaning set forth and shall be determined as provided in Section 280G of the Code. 
 1.03 “Change in Control” means (i) a change of control of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of
1934, as amended (“Exchange Act”), provided that such a Change in Control shall be deemed to have occurred if any “person” (as such term is used in Sections 13(d) and 14(d)(2) of the Exchange Act) is or becomes the beneficial
owner, directly or indirectly, of securities of PPD representing 50% or more of the combined voting power of PPD’s then outstanding securities; (ii) a sale of substantially all of the assets of PPD; or (iii) a liquidation of PPD.

 1.04 “Constructive Termination” means a termination of Employee’s employment by PPD during the Covered Period
initiated by Employee after (i) a substantial diminution or alteration in the duties of Employee, (ii) a reduction by PPD in Employee’s base salary in effect on the date of the Change in Control, or (iii) the relocation of
Employee’s primary work location to a location that is more than twenty-five (25) miles from Employee’s primary work location prior to the Change in Control. Constructive Termination specifically does not include termination of
Employee by reason of death, Disability or retirement at or after age 65. Employee shall give PPD written notice of a Constructive Termination, which notice shall provide a brief description of the circumstances which Employee asserts gives rise to
a right of Constructive Termination, and PPD shall have ten (10) days from receipt of said notice within which to remedy said circumstances. 
  

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 1.05 “Covered Payment” means the amounts and benefits paid to Employee pursuant to this
Agreement, taken together with any amounts or benefits otherwise paid or distributed to Employee by PPD. 
 1.06 “Covered
Period” means the time period commencing on the date of and coincident with a Change of Control and ending one year thereafter. 
 1.07 “Disability” means the inability of Employee to perform his assigned duties for PPD for a period of three (3) months due to Employee’s physical or mental illness as determined by a reputable medical
doctor. 
 1.08 “Excess Parachute Payment” shall have the meaning set forth and shall be determined as provided in
Section 280G of the Code. 
 1.09 “Excise Tax” shall mean the tax imposed under Section 4999 of the Code on an
Excess Parachute Payment. 
 1.10 “Executive Consultant” shall mean the executive compensation or comparable consultant used
from time to time by PPD in designing its compensation program for executive and senior management employees of PPD; provided, however, that in its sole discretion PPD may at any time designate its independent auditors as its Executive Consultant
for the purpose of performing any calculations required under Section 2.05 of this Agreement. 
 1.11 “Final Determination”
means a final determination by a court of competent jurisdiction or a proceeding of the Internal Revenue Service or its successor agency. 
 1.12 “First Period” means the twelve-month period ending on the Termination Date. 
 1.13 “Internal Revenue
Code” means the Internal Revenue Code of 1986 as heretofore or hereafter amended, and any successor code. References in this agreement to specific sections of the Code shall also include any successor sections. 
 1.14 “Parachute Payments” shall have the meaning set forth and shall be determined as provided in Section 280G of the Code.

 1.15 “Payment Cap” means the maximum amount which may be paid to Employee under the terms of this Agreement without
subjecting Employee to the Excise Tax. 
 1.16 “Payment Date” means the date thirty (30) days following the Termination
Date. 
  

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 1.17 “Stock Awards” means Employee’s outstanding awards of PPD non-qualified stock
options or restricted stock as of the Termination Date. 
 1.18 “Termination for Cause” means (i) an act or acts
involving fraud, embezzlement or theft from PPD, (ii) Employee’s willful and repeated failure to follow directions of the Board of Directors that continues for at least ten (10) days following written notice of the Board of Directors
of such failure to follow directions, or (iii) termination for cause as defined in and made pursuant to a then effective employment agreement, if any, between Employee and PPD. 
 1.19 “Termination Date” means the date on which Employee’s employment is terminated such that Employee is entitled to the
compensation and benefits provided for in Section 2 of this Agreement. 
 2. Compensation Upon Change of Control. If
during the Covered Period (i) PPD terminates Employee’s employment for reason other than Termination for Cause or (ii) Employee’s employment is terminated by reason of Constructive Termination, Employee shall be entitled to the
following compensation and benefits: 
 2.01 Base Salary and Bonus. PPD shall pay Employee an amount equal to
                 times the sum of Employee’s (i) base salary for the First Period (determined as if Employee was employed for the entire First Period if
employed for less than the First Period) and (ii) the greater of (x) Employee’s target bonus under the PPD incentive cash bonus plan in which Employee is eligible to participate immediately prior to the Termination Date or
(y) the average of the cash bonuses received in the First Period and in the twelve-month period immediately preceding the First Period, said amount to be paid on the Payment Date. 
 2.02 Unpaid and Deferred Compensation. PPD shall pay Employee any bonus or deferred compensation (whether in the form of cash, stock or otherwise)
accrued but unpaid as of the Termination Date, said sum to be paid on the Payment Date. 
 2.03 Benefits. For a period of
                         after the Termination Date, PPD shall continue to pay for and provide welfare benefits which
Employee was receiving immediately prior to the Termination Date, including life insurance, health, medical, dental, vision and wellness, accidental death and dismemberment and disability benefits; provided, however, that PPD’s obligations
under this clause shall terminate from the date that Employee first becomes eligible after the Termination Date for similar coverage under another employer’s plan. 
 2.04 Stock Awards. Notwithstanding anything to the contrary in any agreement for Stock Awards, (i) all unvested shares underlying Stock Awards granted more than six months prior to the Termination Date
shall become fully vested as of the Termination Date, and (ii) Employee shall continue to be treated under each award agreement evidencing a Stock Award as if Employee was an employee of PPD until the 

  

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first to occur of (x) the third anniversary of the Termination Date, or (y) the expiration of the exercise period provided for therein; provided,
however, in the event of Employee’s death or his disability (as disability is defined in the award agreement) after the Termination Date, the time for exercise after death or such disability prescribed in the award agreement shall apply. The
provisions of this Section 2.04 shall also apply to any and all substitute awards for nonqualified stock options and restricted stock granted to Employee in exchange for Stock Awards to which this section applies. 
 2.05 Limitation on Payments. 
 a.
Application of Section 2.05. If a Covered Payment hereunder would be an Excess Parachute Payment and would thereby subject Employee to the Excise Tax, the provisions of this Section 2.05 shall apply to determine the amounts payable to
Employee pursuant to this Agreement. 
 b. Calculation of Benefits. At least fifteen (15) days prior to the Payment Date, PPD
shall notify Employee of the aggregate present value of all amounts and benefits to which Employee would be entitled under this Agreement and any other plan, program or arrangement with PPD as of the Termination Date, together with the projected
maximum payments, determined as of such Date of Termination, that could be paid without Employee being subject to the Excise Tax. 
 c.
Imposition of Payment Cap. If (i) the aggregate value of all amounts and benefits to which Employee would be entitled under this Agreement and any other plan, program or arrangement with PPD exceeds the amount which can be paid to Employee
without Employee incurring an Excise Tax and (ii) Employee would receive a greater net after-tax amount (taking into account all applicable taxes payable by Employee, including an Excise Tax) by applying the limitation contained in this
Section 2.05(c), then the amounts otherwise payable to Employee under this Section 2 shall be reduced to an amount equal to the Payment Cap. If Employee receives reduced payments and benefits hereunder, Employee shall have the right to
designate which of the payments and benefits otherwise provided for in this Agreement that Employee will receive in connection with the application of the Payment Cap. 
 d. Application of Code Section 280G. The Executive Consultant shall determine whether any part of the Covered Payment will be subject to the Excise Tax and the amount of such Excise Tax. For purposes of
such determination, the Executive Consultant shall take into consideration and be guided by the following: 
 (i) such Covered
Payment will be treated as Parachute Payments and all Parachute Payments in excess of the Base Amount shall be treated as subject to the Excise Tax, unless and except to the extent that in the good faith judgment of the Executive Consultant, PPD has
a reasonable basis to conclude that such Covered Payment, in whole or in part, either do not constitute Parachute Payments or represent reasonable compensation for personal services actually rendered (within the meaning of Section 280G of the
Code) in excess of the Base Amount, or such Parachute Payments are otherwise not subject to the Excise Tax, and 
  

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 (ii) the value of any noncash benefits or any deferred payment or benefit shall be determined by
the Executive Consultant in accordance with the principles of Section 280G of the Code. 
 (e) Applicable Tax Rates. For
purposes of determining whether Employee would receive a greater net after-tax benefit if the amounts payable under this Agreement are reduced in accordance with Section 2.05(c), Employee shall be deemed to pay: 
 (i) federal income taxes at the highest applicable marginal rate of federal income taxation for the calendar year in which the first amounts are
to be paid hereunder, and 
 (ii) any applicable state and local income taxes at the highest applicable marginal rate of taxation for
such calendar year, net of the maximum reduction in federal income taxes which could be obtained from the deduction of such state or local taxes if paid in such year; 
 provided, however, that Employee may request that such determination be made based on Employee’s individual tax circumstances, which shall govern such determination so long as Employee provides to the Executive
Consultant such information and documents as the Executive Consultant shall reasonably request to determine such individual circumstances. 
 (f) Adjustments in Respect to Payment Cap. 
 (i) If Employee receives reduced payments and benefits under
Section 2.05 or if Section 2.05 is determined not to be applicable to Employee because the Executive Consultant concludes that Employee is not subject to any Excise Tax, and it is established pursuant to a Final Determination that,
notwithstanding the good faith of Employee and PPD in applying the terms of this Agreement, the aggregate Parachute Payments paid to Employee or for Employee’s benefit are in an amount that would result in Employee being subject to an Excise
Tax and Employee would still be subject to the Payment Cap under the provisions of Section 2.05(c), then the amount in excess of the Payment Cap shall be deemed for all purposes to be a loan to Employee made on the date of the receipt of such
excess payment, which Employee shall have an obligation to repay to PPD on demand, together with interest at the AFR, from the date of the payment hereunder to the date of repayment by Employee. 
 (ii) If Section 2.05 is not applied to reduce Employee’s entitlements under this Section 2 because the Executive Consultant
determines that Employee would not receive a greater net after-tax benefit by applying Section 2.05 and it 

  

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is established pursuant to a Final Determination that, notwithstanding the good faith of Employee and PPD in applying the terms of this Agreement, Employee
would have received a greater net after-tax benefit by subjecting Employee’s payments and benefits hereunder to the Payment Cap, then the aggregate Parachute Payments paid to Employee or for Employee’s benefit in excess of the Payment Cap
shall be deemed for all purposes a loan to Employee made on the date of receipt of such excess payments, which Employee shall have an obligation to repay to PPD on demand, together with interest at the AFR, from the date of payment hereunder to the
date of repayment by Employee. 
 (iii) If Employee receives reduced payments and benefits by reason of this Section 2.05 and it
is established pursuant to a Final Determination that Employee could have received a greater amount without exceeding the Payment Cap, then PPD shall promptly thereafter pay Employee the aggregate additional amount which could have been paid without
exceeding the Payment Cap, together with interest on such amount at the AFR, from the original payment due date to the date of actual payment by PPD. 
 3. Miscellaneous. 
 3.01 Successor-in-Interest. PPD will require any successor (whether
direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of PPD, to expressly assume and agree to perform this Agreement in the same manner and to the same extent that PPD would
be required to perform it if no succession had taken place. 
 3.02 Binding Effect. This Agreement shall inure to the benefit of and
be enforceable by Employee’s personal or legal representatives, executives, administrators, successors, heirs, distributees, devisees and legatees. 
 3.03 Notice. For purposes of this Agreement, notices and all other communications provided for in the Agreement shall be in writing and shall be given (i) by certified mail, return receipt requested,
postage prepaid, (ii) by personal delivery or (iii) by recognized overnight carrier, and shall be deemed received when actually received. Notices shall be addressed as follows: 
  

					
	If to PPD:	  	Pharmaceutical Product Development, Inc.	  	
		  	 3151 South 17th Street
 Wilmington, North Carolina 28412
	  	
		  	Attention: Chief Executive Officer	  	
			
	If to Employee:	  	  
	  	
			
		  	  
	  	
			
		  	  
	  	
			
		  	  
	  	

  

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 Either party hereto may change the notice address by giving notice thereof in the manner provided for herein. 

3.04 Waiver. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any provision or
condition of this Agreement to be performed by such other party shall be deemed a subsequent waiver of the same or similar provisions or conditions. 
 3.05 Entire Agreement. No agreements or representations, oral or otherwise, expressed or implied, with respect to the subject matter hereof have been made by either party which are not set forth expressly in
this agreement, and this Agreement supersedes and replaces in its entirety all prior agreements and representations, expressed, implied, oral or otherwise, made by PPD to or with Employee, including but not limited to that certain Severance
Agreement dated                          between PPD and Employee. 
 3.06 Governing Law. This Agreement shall be governed by and interpreted under the laws of the State of North Carolina. 
 3.07 Unenforceability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement. 
 3.08 Counterparts. This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original but all of which together shall constitute one and the same instrument. 
 3.09 Headings. Headings used in
this Agreement are for convenience only and shall not be used to construe or interpret this Agreement. 
 3.10 Enforcement by Employee.
All legal expenses incurred by Employee in the successful enforcement of any of the terms of this Agreement shall be paid by PPD. 
 IN
WITNESS WHEREOF, the parties have executed this Agreement effective the date first hereinabove set forth. 
  

					
	Pharmaceutical Product Development, Inc.	 	Employee
			
	By:	 	  
	 	  

	Name:	 		 	Name:
	Title:	 		 	

  

 8Form of Stock Option Agreement

 Exhibit 10bm 
 Form of Stock Option Agreement 
 AGREEMENT (the “Agreement”) dated DATE (the “Grant Date”)
providing for the grant of a stock option and limited stock appreciation right by C. R. Bard, Inc., a New Jersey corporation (the “Corporation”), to «Name_FirstLast» of «CITY», «STATE», an employee of
the Corporation or a Subsidiary (the “Employee”): 
 The Corporation has duly adopted the 2003 Long Term Incentive Plan of C. R.
Bard, Inc., as amended from time to time (the “Plan”), for selected employees, a copy of which is attached hereto and incorporated herein by reference. Any term capitalized herein but not defined shall have the same meaning set forth in
the Plan. In accordance with the Plan, the Committee has granted to the Employee an option to buy Shares of the Corporation’s common stock at an exercise price per share not less than the Fair Market Value of a Share on the Grant Date and under
the terms and conditions hereinafter provided (the “Option”) and a limited stock appreciation right under the terms and conditions hereinafter provided (the “LSAR”). 
 1. Grant of the Option and LSAR. 
 (a) Grant of the Option. The Corporation hereby grants to the Employee an Option to purchase all or any part of an aggregate of «Options_Received» Shares at a purchase price of $OPTION PRICE per
Share (the “Option Price”), subject to adjustment as set forth in the Plan. The Option is intended to be a non-qualified stock option, and is not intended to be treated as an option that complies with Section 422 of the Internal
Revenue Code of 1986, as amended. 
 (b) Grant of the LSAR. The Corporation hereby grants to the Employee an LSAR with
respect to all or any part of an aggregate of «Options_Received» of the Shares subject to the Option, at an exercise price per Share equal to the Option Price. The LSAR shall vest in tandem with the Shares subject to the Option (as
provided in Section 2) and shall be exercisable with respect to such Shares (as provided in Section 3(b)). The LSAR is granted upon the same terms and conditions provided for herein with respect to the Option, except as otherwise expressly
provided herein. 
 2. Vesting. 
 (a) Except as otherwise provided in Section 3, the term of the Option shall commence on the Grant Date and shall expire on the tenth anniversary of the Grant Date. 
 (b) At any time, the portion of the Option that has become vested and exercisable as described in this Section 2 is hereinafter
referred to as the “Vested Portion.” 
 (c) [Performance-based (based on earnings per share growth generally
exclusive of items of an unusual or infrequent nature) and/or time-based vesting criteria]. 
 (d) For the avoidance of doubt,
the Employee must be employed by the Corporation or a Subsidiary on the date vesting occurs, which with respect to Sections 2(c)(A) and (B) will occur upon the later of (i) the Board’s determination that the applicable targets have
been achieved and (ii) public disclosure by the Corporation of the results of operations that are the basis for such determination. 
  

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 (e) Upon termination of the Employee’s employment by reason of death, retirement or
Disability, the Option shall, to the extent not expired pursuant to Section 2(a) and not vested and exercisable at that time, become fully vested and exercisable. 
 (f) If the Employee ceases to be an employee of the Corporation or a Subsidiary for any reason, the Committee may, in its sole discretion,
accelerate the vesting of the Option, or any portion thereof, which has not expired pursuant to Section 2(a) and would not otherwise be vested and exercisable on the date of such termination of employment. 
 (g) If the Employee’s Employment with the Corporation is terminated for any reason other than death, retirement or Disability, or the
Committee does not otherwise exercise its discretion, pursuant to the Plan and Section 2(f) above, to accelerate the vesting of the Option in full upon the Employee’s termination for any reason, the Option shall expire immediately without
consideration to the extent not vested and exercisable on the date of any such termination and the Vested Portion of the Option shall remain exercisable for the period set forth in Section 3(a) (and Section 3(b) in the case of the LSAR).

 3. Exercise. 
 (a) Exercise of Option. Subject to the provisions of the Plan and this Agreement, the Employee may exercise all or any part of the Vested Portion of the Option at any time prior to the earliest to occur of: 
 (i) the tenth anniversary of the Grant Date; 
 (ii) one year following the first day of the month following the month in which the Employee’s employment with the Corporation or a Subsidiary is terminated due to death or Disability; 
 (iii) sixty days following the date the Employee’s employment with the Corporation or a Subsidiary is terminated for any reason other
than (A) death, (B) Disability, (C) retirement, or (D) for any termination within the one-year period immediately following a Change in Control (excluding termination for Cause during such one-year period, which will be subject
to the sixty-day exercise period). 
 For purposes of this Agreement, “Cause” shall mean “Cause” as defined in
(A) any employment or severance agreement then in effect between the Employee and the Corporation or a Subsidiary or (B) any severance plan in which the Employee participates, or if not defined therein or if there shall be no such
agreement or plan, “Cause” shall include, but not be limited to, the Employee’s misconduct, insubordination, violation of the Corporation’s policies, or performance issues. The determination of the existence of Cause shall be
made by the Committee in good faith, which determination shall be conclusive for purposes of this Agreement. 
 For purposes of this
Agreement, “retirement” shall mean the termination of employment of an employee of the Corporation who has attained the age of 55 and been credited with a minimum of 5 years of vesting service under
the Employees’ Retirement Plan of C. R. Bard, Inc. or any successor plan thereto (the "U.S. Retirement Plan"); provided, that the term “retirement” shall not 

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refer to an employee that is terminated for Cause. For purposes of determining whether, and to what extent, an employee is credited with vesting service
under the preceding sentence, service provided to a foreign affiliate of the Corporation shall be treated as service provided to a U.S. participating employer in the U. S. Retirement Plan.
 (b) Exercise of LSAR. Subject to the provisions of the Plan and this Agreement (including, without limitation, the expiration of
the Option described in Section 3(a)), the Employee may exercise all or any part of the Vested Portion of the LSAR only during the 60-day period commencing upon the occurrence of a Change in Control. The Employee shall be required to surrender
all or any portion of the Option with respect to which the Employee exercises the LSAR. The Employee’s exercise of all or part of the Vested Portion of the Option shall terminate the same portion of the Shares subject to the LSAR to which the
exercised Option relates. Upon the exercise of the LSAR, the Employee shall have the right to receive, as determined in the sole discretion of the Committee or as otherwise provided pursuant to the Plan or this Agreement, an amount in cash and/or
Shares equal to the excess of (i) the greater of (A) the Fair Market Value of one Share on the date of exercise and (B) the highest price per Share paid in the transaction or series of transactions constituting the Change in Control,
over (ii) the Option Price, multiplied by the aggregate of the Shares subject to the Option with respect to which the LSAR is exercised by the Employee; provided that if the Participant disagrees with the Committee’s determination
of Fair Market Value, he or she may require the Corporation, at the Corporation’s cost, to retain an independent, nationally recognized investment banker or valuation firm to determine the fair market value. 
 a) Method of Exercise. 
 (i) Exercise of Option. Subject to Section 3(a), the Vested Portion of the Option may be exercised, by the Employee or the individual having the right to exercise the Option in accordance with
Section 3(b)(v), by delivering to the Corporation at its principal office written notice of intent to so exercise; provided, that the Option may be exercised with respect to whole Shares only. Such notice shall specify the number of
Shares for which the Option is being exercised and shall be accompanied by payment in full of the Option Price. The payment of the Option Price may be made at the election of the Employee: 
 (A) in cash or its equivalent (e.g., by check); 
 (B) to the extent permitted by the Committee, in Shares having a Fair Market Value equal to the aggregate Option Price for the Shares
being purchased and satisfying such other requirements as may be imposed by the Committee; provided, that such Shares have been held by the Employee for no less than six months (or such other period as established from time to time by the
Committee in order to avoid adverse accounting treatment applying US GAAP); 
 (C) partly in cash and, to the extent
permitted by the Committee, partly in such Shares, as described in clause (B), above; or 
  

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 (D) if there is a public market for the Shares at the time of exercise, subject to rules
and limitations established by the Committee or the Board, through the delivery of irrevocable instructions to a broker to sell Shares obtained upon the exercise of the Option and to deliver promptly to the Corporation an amount out of the proceeds
of such Sale equal to the aggregate Option Price for the Shares being purchased. 
 The purchased Shares shall be delivered to
the Employee, or the individual having the right to exercise the Option in accordance with Section 3(b)(v), as soon as administratively feasible following exercise of the Option. No fractional Shares will be issued upon exercise of the Option;
unless otherwise determined by the Committee, the cash equivalent of any fractional Share will be payable upon exercise. 
 (ii) Exercise of LSAR. Subject to Sections 3(a) and 3(b), the Vested Portion of the LSAR may be exercised by delivering to the Corporation at its principal office written notice of intent to so exercise, which notice shall specify
the number of Shares underlying the Option with respect to which the LSAR is being exercised. The LSAR may be exercised with respect to whole or fractional Shares. Payment shall be made in cash and/or Shares, as described in Section 3(b), at
the time of exercise. No fractional Shares will be issued upon exercise of the LSAR; the cash equivalent of any fractional Share will be payable upon exercise. 
 (iii) If in the opinion of counsel for the Corporation (who may be an employee of the Corporation or independent counsel employed by the
Corporation), any issuance or delivery of Shares upon exercise of the Option or the LSAR to a Participant will violate the requirements of any applicable federal or state laws, rules or regulations (including, without limitation, the provisions of
the Securities Act of 1933, as amended, or the Act), such issuance or delivery may be postponed until the Corporation is satisfied that the distribution will not violate such laws, rules or regulations, and the LSAR shall be payable in cash.

 (iv) Notwithstanding any other provision of this Agreement to the contrary, prior to a Change of Control the Option may not
be exercised, as the Committee shall in its sole discretion determine to be necessary or advisable, prior to the completion of any registration or qualification of the Option or the Shares, or during any period of suspension of trading of the
Shares, under applicable state and federal securities or other laws or under any ruling or regulation of any governmental body or national securities exchange. 
 (v) Upon the Corporation’s determination that the Option or the LSAR (if to be settled in Shares) has been validly exercised, the
Corporation shall issue certificates in the Employee’s name for such Shares. However, the Corporation shall not be liable to the Employee for damages relating to any delays in issuing the certificates to him or her, any loss of the certificates
or any mistakes or errors in the issuance of the certificates or in the certificates themselves. 
 (vi) In the event of the
Employee’s death, the Vested Portion of the Option and the LSAR shall remain exercisable to the extent set forth in Section 3(a) (and Section 3(b) in the case of the LSAR) by the Employee’s executor or administrator, or the
person or persons to whom the Employee’s rights under this Agreement shall pass by will or by the laws of descent and distribution, as the case may be. In the event of the Disability of the Employee, the Option and the LSAR may be exercisable
by his or her conservator or representative. Any heir, legatee, conservator or representative of the Employee shall take rights herein granted subject to the terms and conditions hereof. 

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 (vii) Neither the Employee nor his or her legal representatives, legatees or
distributees, as the case may be, shall have any rights to dividends or other rights of a stockholder with respect to Shares subject to an Option or LSAR until the Employee or the individual having the right to exercise the Option or LSAR has given
written notice of exercise, paid in full for such Shares, received such Shares from the Corporation and, if applicable, has satisfied any other conditions imposed by the Committee pursuant to the Plan. 
 4. No Right to Continued Employment. The granting of the Option and the LSAR evidenced hereby and this Agreement shall impose no obligation on the
Corporation or any affiliate to continue the employment of the Employee and shall not lessen or affect the Corporation’s or any affiliate’s right to terminate the employment of such Employee. 
 5. Legend on Certificates. If the Corporation determines that any issuance or delivery of Shares to the Employee pursuant to this Agreement will
violate the requirements of any applicable federal or state laws, rules or regulations (including, without limitation, the provisions of the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended), such issuance or
delivery may be postponed until the Corporation is satisfied that the distribution will not violate such laws, rules or regulations. Any such Shares shall be subject to such stop transfer orders and other restrictions as the Committee may deem
advisable under the Plan or the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which such Shares are listed and any applicable federal, state or foreign laws, rules or regulations.
Certificates delivered to Employees may bear such legends as the Corporation may deem advisable. 
 6. Transferability. The Option and
the LSAR may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Employee otherwise than by will or by the laws of descent and distribution, and any such purported assignment, alienation, pledge,
attachment, sale, transfer or encumbrance shall be void and unenforceable against the Corporation or any affiliate; provided, however, that the designation of a beneficiary shall not constitute an assignment, alienation, pledge,
attachment, sale, transfer or encumbrance. The Employee may designate a beneficiary, on a form supplied by the Committee, who may exercise the Option and the LSAR under the terms hereof in the event of the Employee’s death. No such permitted
transfer of the Option and the LSAR to heirs or legatees of the Employee shall be effective to bind the Corporation unless the Committee shall have been furnished with written notice thereof and a copy of such evidence as the Committee may deem
necessary to establish the validity of the transfer and the acceptance by the transferee or transferees of the terms and conditions hereof. 
 7. Withholding. The Employee may be required to pay to the Corporation or any affiliate, and the Corporation or a Subsidiary shall have the right and is hereby authorized to withhold, any applicable amount it may determine to be
necessary to withhold for federal, state, local or other taxes as a result of the exercise, grant or vesting of the Option and the LSAR, as a condition to such exercise, grant or vesting, or as a result of any 

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payment or transfer under or with respect to the Option and the LSAR. The Committee may take such other action as may be necessary in the opinion of the
Committee to satisfy all obligations for the payment of such withholding taxes. The Participant may elect to pay all or a portion of the minimum amount of taxes required to be withheld by (a) delivery of Shares or (b) having Shares
withheld by the Corporation from any Shares that would have otherwise been received by the Participant, such Shares in either case having an aggregate Fair Market Value at the time of payment equal to the amount of such withholding taxes.

 8. Securities Laws. Upon the acquisition of any Shares pursuant to the exercise of the Option or the LSAR, the Employee will make
or enter into such written representations, warranties and agreements as the Committee may reasonably request in order to comply with applicable securities laws or with this Agreement. 
 9. Notices. Any notice required or permitted under this Agreement shall be deemed given when delivered personally, or when deposited in a United
States Post Office as registered mail, postage prepaid, addressed, as appropriate, either to the Employee at his or her address hereinabove set forth or such other address as he or she may designate in writing to the Corporation, or to the
Corporation, Attention: Secretary, at 730 Central Avenue, Murray Hill, New Jersey 07974, or such other address as the Corporation may designate in writing to the Employee. 
 10. Failure to Enforce Not a Waiver. The failure of the Corporation to enforce at any time any provision of this Agreement shall in no way be
construed to be a waiver of such provision or of any other provision hereof. 
 11. No Limitation on Rights of the Corporation. The
grant of the Option and the LSAR shall not in any way affect the right or power of the Corporation to make adjustments, reclassification or changes in its capital or business structure, or to merge, consolidate, dissolve, liquidate, sell or transfer
all or any part of its business or assets. 
 12. Choice of Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW JERSEY WITHOUT REGARD TO CONFLICTS OF LAWS. 
 13. Option and LSAR Subject to Plan. By entering into this
Agreement the Employee agrees and acknowledges that the Employee has received and read a copy of the Plan and the related prospectus. The Option and the LSAR are in all respects governed by the Plan and subject to all of the terms and provisions
thereof. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the
applicable terms and provisions of the Plan will govern and prevail. 
 14. Signature in Counterparts. This Agreement may be signed in
counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement in duplicate on the day and year first above written. 
 C. R. BARD, INC. 
 By: Timothy M. Ring 
 Chairman & Chief Executive Officer 
 The undersigned hereby accepts,
and agrees to, all terms and provisions of the foregoing Agreement. 
  

					
			
	   	 		 	   
	Employee’s Signature	 		 	Date
			
	   	 		 	 
	Print Name

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