Document:

Amended and Restated Management Equity Subscription Agreement

 Exhibit 10.43 
 AMENDED AND RESTATED 
 MANAGEMENT EQUITY SUBSCRIPTION AGREEMENT

 THIS AMENDED AND RESTATED MANAGEMENT EQUITY SUBSCRIPTION AGREEMENT (this “Agreement”) is made as of
October 11, 2011 by and between PTS Holdings Corp., a Delaware corporation (together with its successors and assigns, the “Company”), and Matthew Walsh (“Executive”). 

WHEREAS, Executive (i) purchased shares of common stock of the Company (“Common Stock”) and (ii) received an
option to purchase shares of Common Stock (the “Option”), in each case, as set forth on Exhibit A, pursuant to the terms set forth below and the terms of the Plan (as defined below), the Stock Option Agreement (as defined below),
and the Securityholders Agreement (as defined below); 
 WHEREAS, in connection therewith, the Company and Executive entered
into that certain Management Equity Subscription Agreement, made as of June 5, 2008 (the “Prior Agreement”); 
 WHEREAS, Executive has been selected by the Company to receive (x) an additional option to purchase shares of Common Stock and (y) restricted stock units, each of which represents the right to
receive one share of Common Stock (the “RSUs”), in each case, pursuant to the terms set forth below and the terms of the Plan (as defined below), a stock option agreement, the RSU Agreement (as defined below) and the Securityholders
Agreement; 
 WHEREAS, on the terms and subject to the conditions hereof, the Company desires to issue and provide to Executive,
the additional option to purchase shares of Common Stock and the RSUs, in each case, as set forth on Exhibit B, as hereinafter set forth; and 
 WHEREAS, in connection with the foregoing, the parties hereto now desire to (x) amend the Prior Agreement in certain respects effective on and after the date hereof, the effect of which will be that
this Agreement will supersede the Prior Agreement in its entirety on and after the date hereof and (y) restate the Prior Agreement in the form of this Agreement to read in its entirety as follows. 

NOW, THEREFORE, in order to implement the foregoing and in consideration of the mutual representations, warranties, covenants and
agreements contained herein, the parties hereto agree as follows: 
 1. Definitions. 

1.1 Affiliate. The term “Affiliate” shall have the meaning set forth in the Plan. 

1.2 Agreement. The term “Agreement” shall have the meaning set forth in the preface. 

1.3 Applicable Federal Rate. The term “Applicable Federal Rate” shall have the meaning set forth in Section 1274 of
the Code. 

 1.4 Blackstone. The term “Blackstone” means Blackstone Capital Partners V
L.P. and its Affiliates. 
 1.5 Board. The term “Board” means the Company’s Board of Directors.

 1.6 Call Notice. The term “Call Notice” shall have the meaning set forth in Section 4.2(b). 

1.7 Catalent. The term “Catalent” shall mean Catalent Pharma Solutions, Inc., together with its successors and assigns.

 1.8 Cause. The term “Cause” shall have the meaning set forth in the Stock Option Agreement. 

1.9 Closing Date. The term “Closing Date” shall have the meaning set forth in Section 2.1. 

1.10 Code. The term “Code” means the Internal Revenue Code of 1986, as amended. 

1.11 Common Stock. The term “Common Stock” shall have the meaning set forth in the preface. 

1.12 Company. The term “Company” shall have the meaning set forth in the preface. 

1.13 Competitive Business. The term “Competitive Business” shall have the meaning set forth in
Section 6.1(a)(ii)(1). 
 1.14 Confidential Information. The term “Confidential Information” shall have
the meaning set forth in Section 6.2. 
 1.15 Cost. The term “Cost” means the purchase price per Share, if
any, paid by Executive. 
 1.16 Disability. The term “Disability” shall have the meaning set forth in the Plan.

 1.17 Employment Agreement. The term “Employment Agreement” means the employment agreement entered into by
Catalent and Executive, effective as of September 26, 2011, as it may be amended or supplemented from time to time. 
 1.18
Executive. The term “Executive” shall have the meaning set forth in the preface. 
 1.19 Fair Market
Value. The term “Fair Market Value” shall have the meaning set forth in the Plan. 
 1.20 Family Group. The
term “Family Group” shall have the meaning set forth in the Securityholders Agreement. 
 1.21 Financing
Default. The term “Financing Default” means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default under any 

  
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of the financing documents of the Company or its Affiliates from time to time and any restrictive financial covenants contained in the organizational documents of the Company or its Affiliates.

 1.22 Lapse Date. The term “Lapse Date” shall have the meaning set forth in the Securityholders Agreement.

 1.23 Option. The term “Option” shall have the meaning set forth in the preface. 

1.24 Put Notice. The term “Put Notice” shall have the meaning set forth in Section 4.1(b). 

1.25 Person. The term “Person” shall have the meaning set forth in Section 6.1(a)(i). 

1.26 Plan. The term “Plan” means the 2007 PTS Holdings Corp. Stock Incentive Plan, as it may be amended or supplemented
from time to time. 
 1.27 Purchase Price. The term “Purchase Price” shall have the meaning set forth in
Section 2.1. 
 1.28 Restricted Period. The term “Restricted Period” shall have the meaning set forth in
Section 6.1(a). 
 1.29 RSU. The term “RSU” shall have the meaning set forth in the preface. 

1.30 RSU Agreement. The term “RSU Agreement” means the RSU Agreement, dated as of October     ,
2011, among Executive and the Company, as it may be amended or supplemented thereafter from time to time. 
 1.31 RSU
Shares. The term “RSU Shares” means shares of Common Stock issuable or issued upon settlement of the RSUs. 
 1.32
Securities Act. The term “Securities Act” means the Securities Act of 1933, as amended, and all rules and regulations promulgated thereunder, as the same may be amended from time to time. 

1.33 Securityholders Agreement. The term “Securityholders Agreement” means the Securityholders Agreement dated as of
May 7, 2007 among the Company and the other parties thereto, as it may be amended or supplemented thereafter from time to time. 
 1.34 Shares. The term “Shares” means any shares of Common Stock acquired by Executive, including Shares issuable or issued upon exercise of the Option and RSU Shares. 

1.35 Stock Option Agreement. The term “Stock Option Agreement” means the Stock Option Agreement, dated as of
April 17, 2008, among Executive and the Company, as it may be amended or supplemented thereafter from time to time. 
 1.36
Subsidiary. The term “Subsidiary” shall have the meaning set forth in the Plan. 

  
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 1.37 Termination Date. The term “Termination Date” means the date upon
which Executive’s employment with the Company and its Subsidiaries terminates. 
 2. Subscription for Shares; Grant of Option and RSUs.

 2.1 Purchase of Shares. Pursuant to the terms and subject to the conditions set forth in this Agreement, Executive
subscribed for and purchased, and the Company issued to Executive, on June 5, 2008 (the “Closing Date”), the number of Shares set forth on Exhibit A attached hereto in exchange for the purchase price (the “Purchase
Price”) set forth on Exhibit A attached hereto. 
 2.2 Issuance of Option. Pursuant to the terms and subject to
the conditions set forth in this Agreement, the Plan and the Stock Option Agreement, as of April 17, 2008, the Company granted to Executive an Option to purchase the number of Shares set forth on Exhibit A attached hereto at an exercise price
per Share equal to the amount set forth on Exhibit A attached hereto. 
 2.3 Issuance of Option and RSUs. Pursuant to the
terms and subject to the conditions set forth in this Agreement, the Plan, the stock option agreement and the RSU Agreement, as of October     , 2011, the Company shall grant to Executive (x) an additional option to
purchase the number of Shares set forth on Exhibit B attached hereto at an exercise price per Share equal to the amount set forth on Exhibit B attached hereto and (y) a number of RSUs as set forth on Exhibit B attached hereto. 

3. Investment Representations and Covenants of Executive. 
 3.1 Shares Unregistered. Executive acknowledges and represents that Executive has been advised by the Company that: 
 (a) the offer and sale of Shares have not been registered under the Securities Act; 
 (b) the Shares must be held indefinitely and Executive must continue to bear the economic risk of the investment in the Shares unless the offer and sale of the Shares are subsequently registered under the
Securities Act and all applicable state securities laws or an exemption from such registration is available; 
 (c) there is no
established market for the Shares and it is not anticipated that there will be any public market for the Shares in the foreseeable future; 
 (d) a restrictive legend in the form set forth below and the legends set forth in Section 7.2 of the Securityholders Agreement shall be placed on the certificates representing the Common Stock:

 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN REPURCHASE OPTIONS AND OTHER PROVISIONS SET FORTH
IN AN AMENDED AND RESTATED MANAGEMENT EQUITY SUBSCRIPTION AGREEMENT WITH THE ISSUER DATED AS OF OCTOBER     , 

  
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2011, AS AMENDED AND MODIFIED FROM TIME TO TIME, A COPY OF WHICH MAY BE OBTAINED BY THE HOLDER HEREOF AT THE ISSUER’S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE”; and 

(e) a notation shall be made in the appropriate records of the Company indicating that the Shares are subject to restrictions on transfer
and, if the Company should at some time in the future engage the services of a securities transfer agent, appropriate stop-transfer instructions will be issued to such transfer agent with respect to the Shares. 

3.2 Additional Investment Representations. Executive represents and warrants that: 

(a) Executive’s financial situation is such that Executive can afford to bear the economic risk of holding the Shares for an
indefinite period of time, has adequate means for providing for Executive’s current needs and personal contingencies, and can afford to suffer a complete loss of Executive’s investment in the Shares; 

(b) Executive’s knowledge and experience in financial and business matters are such that Executive is capable of evaluating the
merits and risks of the investment in the Shares; 
 (c) Executive understands that the Shares are a speculative investment
which involves a high degree of risk of loss of Executive’s investment therein, there are substantial restrictions on the transferability of the Shares and, on the Closing Date and for an indefinite period following the Closing Date, there will
be no public market for the Shares and, accordingly, it may not be possible for Executive to liquidate Executive’s investment in case of emergency, if at all; 
 (d) the terms of this Agreement provide that, with respect to the Shares received upon exercise of any options to purchase shares of Common Stock, including, without limitation, the Option, and RSU Shares
only, if Executive ceases to be an employee of the Company or its Subsidiaries, the Company and its Affiliates have the right to repurchase such Shares at a price which may, under certain circumstances, be less than the Fair Market Value thereof;

 (e) Executive understands and has taken cognizance of all the risk factors related to the purchase of the Shares and, other
than as set forth in this Agreement, no representations or warranties have been made to Executive or Executive’s representatives concerning the Shares or the Company or their prospects or other matters; 

(f) Executive has been given the opportunity to examine all documents and to ask questions of, and to receive answers from, the Company
and its representatives concerning the Company and its Subsidiaries, the Plan, the Stock Option Agreement, the RSU Agreement, the Securityholders Agreement, the Company’s organizational documents and the terms and conditions of the purchase of
the Shares and to obtain any additional information which Executive deems necessary; and 

  
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 (g) all information which Executive has provided to the Company and the Company’s
representatives concerning Executive and Executive’s financial position is complete and correct as of the date of this Agreement. 
 4.
Certain Sales Upon Termination of Employment. 
 4.1 Put Option. 

(a) If Executive’s employment with the Company and its Subsidiaries terminates due to the Disability or death of Executive prior to
the Lapse Date, Executive and Executive’s Family Group shall have the right, subject to the provisions of Section 5 hereof, for one year following the later of (x) the Termination Date or (y) the date of receipt of the RSU Shares
and/or the Shares following exercise of the Option, as applicable, to sell to the Company, and the Company shall be required to purchase (subject to the provisions of Section 5 hereof), on one occasion from Executive, all (or any portion) of
Executive’s Shares at a price per Share equal to Fair Market Value (measured as of the purchase date); provided that the exercise of such right may be delayed by the Company to the extent any such delay is necessary to avoid the application of
adverse accounting treatment to the Company. 
 (b) If Executive or Executive’s Family Group, as applicable, desires to
exercise its option to require the Company to repurchase Shares pursuant to Section 4.1(a), Executive or Executive’s Family Group, as applicable, shall send written notice to the Company setting forth Executive’s or Executive’s
Family Group, as applicable, intention to sell all of his or their Shares, as applicable, pursuant to Section 4.1(a) (the “Put Notice”). Subject to the provisions of Section 5, the closing of the purchase shall take place
at the principal office of the Company on a date specified by the Company no later than the 60th day after the giving of such notice. 
 4.2 Call Option. 
 (a) If Executive’s employment with the Company and
its Subsidiaries terminates for any of the reasons set forth in clauses (i) or (ii) below prior to the Lapse Date, the Company shall have the right and option, but not the obligation, to purchase any or all of Executive’s RSU Shares
and Shares acquired following exercise of the Option, in each case, for a period of 181 days (or such longer period as is necessary in order to avoid the application of adverse accounting treatment to the Company) following the later of (x) the
Termination Date or (y) the date of receipt of such Shares, in each case, at a price per Share equal to the applicable purchase price determined as follows: 

(i) Termination for Cause. If Executive’s employment with Catalent is terminated by Catalent for Cause, the
purchase price per Share will be the lesser of (A) Fair Market Value (measured as of the purchase date) and (B) Cost; or 
 (ii) Termination of Employment Other than for Cause. If Executive’s employment with Catalent terminates for any reason other than by Catalent for Cause, the purchase price per Share will be
Fair Market Value (measured as of the purchase date). 

  
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 (b) If the Company desires to exercise its option to purchase such Shares pursuant to
Section 4.2(a), the Company shall, not later than 181 days following the later of (x) the Termination Date or (y) the date of receipt of such Shares, send written notice to Executive of its intention to purchase such Shares,
specifying the number of Shares to be purchased (the “Call Notice”). Subject to the provisions of Section 5, the closing of the purchase shall take place at the principal office of the Company on a date specified by the Company
no later than the 30th day after the giving of the Call Notice. 
 (c) Notwithstanding the foregoing, if the Company elects not
to exercise its option to purchase such Shares pursuant to this Section 4.2 and Executive’s employment with Catalent terminates for any of the reasons set forth in clauses (a)(i) or (a)(ii) above prior to the Lapse Date, Blackstone may
elect to purchase such Shares on the same terms and conditions set forth in this Section 4.2 by providing written notice to Executive of its intention to purchase such Shares within 30 days after the expiration of the Company’s 181 day
call window following the later of (x) the Termination Date or (y) the date of receipt of the such Shares. 
 5. Certain
Limitations on the Company’s Obligations to Purchase Shares. 
 5.1 Deferral of Purchases. 

(a) Notwithstanding anything to the contrary contained herein, the Company shall not be obligated to purchase any Shares at any time
pursuant to Section 4.1 or 4.2, regardless of whether it has delivered a Call Notice or received a Put Notice, (i) to the extent that the purchase of such Shares would result in (A) a violation of any law, statute, rule, regulation,
policy, order, writ, injunction, decree or judgment promulgated or entered by any federal, state, local or foreign court or governmental authority applicable to the Company or any of its Subsidiaries or any of its or their property or (B) after
giving effect thereto, a Financing Default, (ii) if immediately prior to such purchase there exists a Financing Default which prohibits such purchase, or (iii) to the extent that there is a lack of available cash on hand of the Company and
no cash is available to the Company. The Company shall, within fifteen (15) days of learning of any such fact, so notify Executive that it is not obligated to purchase hereunder. 

(b) Notwithstanding anything to the contrary contained in Section 4.1 or 4.2, provided the Lapse Date has not
occurred, any Shares which Executive or Executive’s Family Group, as applicable, has elected to sell or the Company has elected to purchase, but which in accordance with Section 5.1(a) is not purchased at the applicable time provided in
Section 4.1 or 4.2, shall be purchased by the Company (x) by delivery of a note for the applicable purchase price payable in equal installments of up to three (3) years, bearing interest at the prime lending rate in effect as of the
date of the exercise of the call right or at the applicable Applicable Federal Rate at such time, if greater; provided, however, that the Company shall fully satisfy its obligation under the note sooner if the purchase price is no longer restricted
under Section 5.1(a), with such amount paid to Executive or Executive’s Family Group, as applicable, within fifteen (15) days after the date the prohibition is lifted or (y) if purchase by delivery of a note as described in
clause (x) is not permitted due to the terms of any outstanding Company indebtedness, or otherwise, then, for the applicable purchase price (measured as of the actual purchase date) on or prior to the fifteenth (15th) day after such date or dates that the purchase of such Shares
are no longer prohibited under Section 5.1(a) and the Company shall give Executive 

  
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five (5) days’ prior notice of any such purchase. Notwithstanding anything herein to the contrary, prior to the payment of the purchase price under this Section 5.1, Executive or
Executive’s Family Group may withdraw the Shares subject to the put option described in Section 4.1. 
 5.2 Payment
for Shares. If at any time the Company elects to purchase any Shares pursuant to Section 4.1 or 4.2, unless otherwise provided for herein, the Company shall pay the purchase price for the Shares it purchases (i) first, by the
cancellation of any indebtedness owing from Executive to the Company or any of its Subsidiaries and (ii) then, by the Company’s delivery of a check or wire transfer of immediately available funds for the remainder of the purchase price, if
any, against delivery of the certificates or other instruments representing the Shares so purchased, duly endorsed. 
 6. Noncompetition;
Nonsolicitation; Confidentiality. 
 6.1 Competitive Activity. 

(a) During the period that commenced on the Closing Date and ends on the date that is two (2) years after the date Executive’s
employment with Catalent terminates for any reason (the “Restricted Period”), Executive will not, whether on Executive’s own behalf or on behalf of or in conjunction with any person, firm, partnership, joint venture,
association, corporation or other business organization, entity or enterprise whatsoever (“Person”), directly or indirectly, solicit or assist in soliciting in competition with Catalent or any of its subsidiaries, the business of
any client or prospective client: 
 (i) with whom Executive had personal contact or dealings on behalf of the
Catalent or any of its Subsidiaries during the one year period preceding Executive’s termination of employment; 
 (ii) with whom employees reporting to Executive have had personal contact or dealings on behalf of Catalent or any of its Subsidiaries during the one year immediately preceding Executive’s
termination of employment; or 
 (iii) for whom Executive had direct or indirect responsibility during the one
year immediately preceding Executive’s termination of employment. 
 (b) During the period that commenced on the Closing
Date and for a period of one year following the date Executive ceases to be employed by Catalent for any reason, Executive will not directly or indirectly: 
 (i) engage in any business that competes with the business of Catalent or any of its Subsidiaries, including, contract services to pharmaceutical, biotechnology and vitamin/mineral supplements
manufacturers related to formulation, analysis manufacturing and packaging and any other product or service of the type developed, manufactured or sold by Catalent or any of its Subsidiaries (including, without limitation, any other business which
Catalent or any of its Subsidiaries have plans to engage in as of the date of Executive’s termination of employment) in any geographical area where Catalent or any of its Subsidiaries conduct business (a “Competitive
Business”); 

  
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	 	(1)	enter the employ of, or render any services to, any Person (or any division or controlled or controlling Affiliate of any Person) who or which engages in a Competitive
Business; 

  

	 	(2)	acquire a financial interest in, or otherwise become actively involved with, any Competitive Business, directly or indirectly, as an individual, partner, shareholder,
officer, director, principal, agent, trustee or consultant; or 

  

	 	(3)	interfere with, or attempt to interfere with, business relationships (whether formed before, on or after the date of this Agreement) between Catalent or any of its
Subsidiaries and customers, clients, suppliers, or investors of Catalent or any of its Subsidiaries. 

 Notwithstanding anything to the contrary in this Agreement, Executive may, directly or indirectly own, solely as an investment, securities of any Person engaged in the business of Catalent or any of its
Subsidiaries which are publicly traded on a national or regional stock exchange or on the over-the-counter market if Executive (i) is not a controlling person of, or a member of a group which controls, such Person and (ii) does not,
directly or indirectly, own 5% or more of any class of securities of such Person. 
 (c) During the Restricted Period, Executive
will not, whether on Executive’s own behalf or on behalf of or in conjunction with any Person, directly or indirectly: 
 (i) solicit or encourage any employee of Catalent or any of its Subsidiaries to leave the employment of Catalent or any of its Subsidiaries; or 

(ii) hire any such employee who was employed by Catalent or any of its Subsidiaries as of the date of Executive’s
termination of employment with Catalent or who left the employment of Catalent or any of its Subsidiaries coincident with, or within twelve (12) months prior to, the termination of Executive’s employment with Catalent. 

(d) During the Restricted Period, Executive will not, directly or indirectly, solicit or encourage to cease to work with Catalent or any
of its Subsidiaries any consultant then under contract with Catalent or any of its Subsidiaries. 
 (e) It is expressly
understood and agreed that although Executive and the Company consider the restrictions contained in this Section 6.1 to be reasonable, if a final judicial determination is made by a court of competent jurisdiction that the time or territory or
any other restriction contained in this Agreement is an unenforceable restriction against Executive, the provisions of this Agreement shall not be rendered void but shall be deemed amended to apply as to such maximum time and territory and to such
maximum extent as such court may judicially determine or indicate to be enforceable. Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Agreement is unenforceable, and such restriction cannot be
amended so as to make it enforceable, such finding shall not affect the enforceability of any of the other restrictions contained herein 

  
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 6.2 Confidentiality. 

(a) Executive will not at any time (whether during or after Executive’s employment with Catalent), other than in the ordinary course
of business for Catalent or any of its Subsidiaries (x) retain or use for the benefit, purposes or account of Executive or any other Person; or (y) disclose, divulge, reveal, communicate, share, transfer or provide access to any Person
outside Catalent (other than its professional advisers who are bound by confidentiality obligations), any non-public, proprietary or confidential information of Catalent and its Subsidiaries —including without limitation trade secrets,
know-how, research and development, software, databases, inventions, processes, formulae, technology, designs and other intellectual property, information concerning finances, investments, profits, pricing, costs, products, services, vendors,
customers, clients, partners, investors, personnel, compensation, recruiting, training, advertising, sales, marketing, promotions, government and regulatory activities and approvals — concerning the past, current or future business, activities
and operations of Catalent, its Subsidiaries or Affiliates and/or any third party that has disclosed or provided any of same to Catalent on a confidential basis (“Confidential Information”) without the prior written authorization of
the Board. 
 (b) “Confidential Information” shall not include any information that is (a) generally known
to the industry or the public other than as a result of Executive’s breach of this covenant or any breach of other confidentiality obligations by third parties; (b) made legitimately available to Executive by a third party without breach
of any confidentiality obligation; or (c) required by law to be disclosed or in any judicial or administrative process; provided that, unless prohibited by law or regulation, Executive shall give prompt written notice to Catalent of such
requirement, disclose no more information than is so required, and cooperate with any attempts by Catalent to obtain a protective order or similar treatment. 
 (c) Upon termination of Executive’s employment with Catalent for any reason, Executive shall (x) cease and not thereafter commence use of any Confidential Information or intellectual property
(including, without limitation, any patent, invention, copyright, trade secret, trademark, trade name, logo, domain name or other source indicator) owned or used by Catalent or any of its Subsidiaries or Affiliates; (y) immediately destroy,
delete, or return to Catalent, at its option, all originals and copies in any form or medium (including memoranda, books, papers, plans, computer files, letters and other data) in Executive’s possession or control (including any of the
foregoing stored or located in Executive’s office, home, laptop or other computer, whether or not property of Catalent) that contain Confidential Information or otherwise relate to the business of Catalent or any of its Affiliates and
Subsidiaries, except that Executive may retain only those portions of any personal notes, notebooks and diaries that do not contain any Confidential Information; and (z) notify and fully cooperate with Catalent regarding the delivery or
destruction of any other Confidential Information of which Executive is or becomes aware. 
 6.3 Repayment of Proceeds.
If Executive breaches in any material way (x) the non-competition and non-solicitation provisions of Section 6.1 or the confidentiality provisions of Section 6.2 or (y) the non-competition, non-solicitation or confidentiality
provisions of the Employment Agreement and, in either case, Executive does not cure such breach within ten (10) days following receipt of notice from the Company of such breach, then Executive shall be

  
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required to pay to the Company, within ten (10) business days following the first date on which Executive first breaches such provisions, an amount equal to the excess, if any, of
(A) the aggregate proceeds Executive received upon the sale or other disposition of, or distributions in respect of, Executive’s Shares over (B) the aggregate Cost of such Shares. 

6.4 Notwithstanding anything herein to the contrary, in the event of any conflict between the terms of Sections 6.1 and 6.2 and the terms
of any employment, non-competition or confidentiality agreement between Executive and the Company and its Subsidiaries, the terms of such employment, non-competition or confidentiality agreement shall govern. 

7. Miscellaneous. 
 7.1
Transfers to Permitted Transferees. Prior to the transfer of Shares, to the extent permitted under the terms of the Securityholders Agreement, Executive shall deliver to the Company a written agreement of the proposed transferee
(a) evidencing such Person’s undertaking to be bound by the terms of this Agreement and (b) acknowledging that the Shares transferred to such Person will continue to be Shares for purposes of this Agreement in the hands of such
Person. Any transfer or attempted transfer of Shares in violation of any provision of this Agreement or the Securityholders Agreement shall be void, and the Company shall not record such transfer on its books or treat any purported transferee of
such Shares as the owner of such Shares for any purpose. 
 7.2 Recapitalizations, Exchanges, Etc. Affecting Shares. The
provisions of this Agreement shall apply, to the full extent set forth herein with respect to Shares, to any and all securities of the Company or any successor or assign of the Company (whether by merger, consolidation, sale of assets or otherwise)
which may be issued in respect of, in exchange for, or in substitution of the Shares, by reason of any dividend payable in shares of Common Stock, issuance of shares of Common Stock, combination, recapitalization, reclassification, merger,
consolidation or otherwise. 
 7.3 Executive’s Employment by the Company. Nothing contained in this Agreement shall
be deemed to obligate the Company or any Subsidiary of the Company to employ Executive in any capacity whatsoever or to prohibit or restrict the Company (or any such Subsidiary) from terminating the employment of Executive at any time or for any
reason whatsoever, with or without Cause. 
 7.4 Cooperation. Executive agrees to cooperate with the Company in taking
action reasonably necessary to consummate the transactions contemplated by this Agreement. 
 7.5 Binding Effect. The
provisions of this Agreement shall be binding upon and accrue to the benefit of the parties hereto and their respective heirs, legal representatives, successors and assigns; provided, however, that no transferee shall derive any rights under this
Agreement unless and until such transferee has executed and delivered to the Company a valid undertaking and becomes bound by the terms of this Agreement; and provided further that Blackstone is a third party beneficiary of this Agreement and shall
have the right to enforce the provisions hereof. 

  
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 7.6 Amendment; Waiver. This Agreement may be amended only by a written instrument
signed by the parties hereto. No waiver by any party hereto of any of the provisions hereof shall be effective unless set forth in a writing executed by the party so waiving. 
 7.7 Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware, without regard to conflicts of law principles thereof.

 7.8 Notices. All notices and other communications hereunder shall be in writing and shall be deemed to have been duly
given when personally delivered, telecopied (with confirmation of receipt), one day after deposit with a reputable overnight delivery service (charges prepaid) and three days after deposit in the U.S. Mail (postage prepaid and return receipt
requested) to the address set forth below or such other address as the recipient party has previously delivered notice to the sending party. 
 (a) If to the Company: 
 PTS Holdings Corp. 

c/o Catalent Pharma Solutions, Inc. 
 14 Schoolhouse Road Somerset, NJ 08873 
 Attention: General Counsel 

with a copy to: 

c/o The Blackstone Group 
 345 Park Avenue 
 New York, New York 10154 

Attention: Chinh Chu 
 Fax: (212) 583-5722 
 and 

Simpson Thacher & Bartlett LLP 
 425 Lexington Avenue 
 New York, NY 10017-3954 

Attn: Wilson Neely and Brian Robbins 
 Fax: (212) 455-2502 
 (b) If to the Executive, to the address as shown on the
stock ledger of the Company. 
 7.9 Integration. This Agreement and the documents referred to herein or delivered
pursuant hereto contain the entire understanding of the parties with respect to the subject matter hereof and thereof. There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings with respect to the
subject matter hereof other than those expressly set forth herein and therein. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter, including, without limitation, the Prior
Agreement, other than as specifically provided for herein. 

  
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 7.10 Counterparts. This Agreement may be executed in separate counterparts, and by
different parties on separate counterparts each of which shall be deemed an original, but all of which shall constitute one and the same instrument. 
 7.11 Injunctive Relief. Executive and any permitted transferee each acknowledges and agrees that a violation of any of the terms of this Agreement will cause the Company irreparable injury for
which adequate remedy at law is not available. Accordingly, it is agreed that the Company shall be entitled to an injunction, restraining order or other equitable relief to prevent breaches of the provisions of this Agreement and to enforce
specifically the terms and provisions hereof in any court of competent jurisdiction in the United States or any state thereof, in addition to any other remedy to which it may be entitled at law or equity. If equitable relief is not available, then
the parties agree that any controversy, dispute or claim arising out of, in connection with, or in relation to this Agreement shall be settled in accordance with Section 11(b) of the Employment Agreement. 

7.12 Rights Cumulative; Waiver. The rights and remedies of Executive and the Company under this Agreement shall be cumulative and
not exclusive of any rights or remedies which either would otherwise have hereunder or at law or in equity or by statute, and no failure or delay by either party in exercising any right or remedy shall impair any such right or remedy or operate as a
waiver of such right or remedy, nor shall any single or partial exercise of any power or right preclude such party’s other or further exercise or the exercise of any other power or right. The waiver by any party hereto of a breach of any
provision of this Agreement shall not operate or be construed as a waiver of any preceding or succeeding breach and no failure by either party to exercise any right or privilege hereunder shall be deemed a waiver of such party’s rights or
privileges hereunder or shall be deemed a waiver of such party’s rights to exercise the same at any subsequent time or times hereunder. 
 *     *     *     *     * 

  
 13 

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

 

			
	PTS HOLDINGS CORP.
		
	By:	 	 /s/ John Chiminski

	Name:	 	John Chiminski
	Title:	 	
	
	 /s/ Matthew Walsh

	MATTHEW WALSH

 Subscription Agreement 

 CONSENT OF SPOUSE 
 I,                     , the undersigned spouse of Executive, hereby acknowledge that I have read the
foregoing Amended and Restated Management Equity Subscription Agreement, as it may be amended from time to time (the “Agreement”) and that I understand its contents. I am aware that the Agreement provides for the repurchase of my
spouse’s RSU Shares (as defined in the Agreement) and Shares issuable or issued upon exercise of the Option (as defined in the Agreement) under certain circumstances and imposes other restrictions on the transfer of such Shares. I agree that my
spouse’s interest in the Shares is subject to the Agreement and any interest I may have in such Shares shall also be irrevocably bound by the Agreement and, further, that my community property interest in such Shares, if any, shall be similarly
bound by the Agreement. 
 I am aware that the legal, financial and other matters contained in the Agreement are complex and I
am encouraged to seek advice with respect thereto from independent legal and/or financial counsel. I have either sought such advice or determined after carefully reviewing the Agreement that I hereby waive such right. 

 

			
	 Acknowledged and agreed this      day of
                    , 2011.

	
	  

		
	 Name:
	 	  

	
	  

	Witness

 Subscription Agreement – Consent of Spouse 

 EXHIBIT A 
 Shares of Common Stock purchased on the Closing Date: 400 
 Purchase Price for Shares: $1,000

 *    *    *    * 

Number of Shares subject to the Option granted on April 17, 2008: 4,000 
 Exercise Price of Shares subject to such Option: $1,000 
 In connection with the option exchange
that occurred in October 2009, Executive elected to exchange his 3733 unvested options for 3734 new options with a lower per share exercise price of $750 per share. 
 Exhibit A to Subscription Agreement 

 EXHIBIT B 
 Number of Shares subject to the additional option: 1,500 
 Exercise Price of Shares subject to the
additional option: $1,040 
 Number of RSUs: 500 
 Exhibit B to Subscription AgreementForm of Executive Transition Agreement

 Exhibit 10.1 
 RTI BIOLOGICS, INC. 
 EXECUTIVE TRANSITION AGREEMENT 

WITH [—] 

AGREEMENT made as of the 29th day of August, 2012 (the “Effective Date”), by and between RTI BIOLOGICS, INC. (the
“Company”) and [—] (the “Executive”). 

WHEREAS, the Board of Directors of the Company (the “Board”) recognizes the possibility of an involuntary termination of
Executive’s employment, whether or not such termination were to occur in the context of a Change in Control (as defined below); and 
 WHEREAS, the Board desires to encourage Executive’s undivided loyalty and attention to the business of the Company, and to ensure that Executive will remain focused on the business of the Company and
will not otherwise be distracted by the possibility of an involuntary termination of employment and/or the possibility of a Change in Control; and 
 WHEREAS, after consulting with its outside compensation advisor, the Board believes it is in the best interests of the Company and its shareholders [to terminate the employment agreement between the
Company and Executive dated as of [—] (the “Employment Agreement”), and] to provide for certain severance payments and benefits to protect Executive in the event Executive’s
employment is involuntarily terminated, all as described in and subject to the terms and conditions set forth in this Agreement. 
 NOW, THEREFORE, the parties agree as follows: 
 1. Definitions. For the
purposes hereof, the following terms shall have the meanings ascribed to them below. 
 (a) “Cause” means
Executive’s (1) conviction or plea of nolo contendre to a felony; (2) commission of fraud or a material act or omission involving dishonesty with respect to the Company or its subsidiaries, (3) willful and continued failure to
substantially carry out the material responsibilities of Executive’s employment (other than a failure attributable to illness or injury) that is not cured by Executive within a reasonable time after notice thereof is provided by the Board to
Executive; or (4) gross negligence or willful misconduct in the performance of Executive’s duties which has had or is reasonably likely to have a material adverse effect on the Company. 

(b) “Change in Control” means any of the following events: 

(i) the acquisition in one or more transactions by any “Person” (as the term person is used for purposes of
Section 13(d) or 14(d) of the Exchange Act) of “Beneficial Ownership” (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 30% or more of the combined voting power of the Company’s then outstanding
voting securities (the “Voting Securities”), provided, however, that Voting Securities acquired directly from the Company by any Person shall be excluded from the determination of such Person’s Beneficial Ownership of Voting
Securities (but such Voting Securities shall be included in the calculation of the total number of Voting Securities then outstanding); or 

 (ii) the consummation of a merger or consolidation involving the Company if the
stockholders of the Company, immediately before such merger or consolidation, do not own, directly or indirectly immediately following such merger or consolidation, more than 50% of the combined voting power of the outstanding Voting Securities of
the corporation resulting from such merger or consolidation in substantially the same proportion as their ownership of the Voting Securities immediately before such merger or consolidation; or 

(iii) the individuals who, as of the date hereof, are members of the Board (the “Incumbent Board”), cease for any reason
to constitute more than 50% of the Board, provided, however, that if the election, or nomination for election by the Company’s stockholders of any new director was approved by a vote of at least two-thirds of the Incumbent Board, such new
director shall, for purposes of the Plan, be considered as a member of the Incumbent Board, but excluding for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with
respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board; or 
 (iv) a complete liquidation or dissolution of the Company or the sale or other disposition of all or substantially all of the assets of the Company. 

Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because 30% or more of the then outstanding Voting Securities is
acquired by (1) a trustee or other fiduciary holding securities under one or more employee benefit plans maintained by the Company or any of its subsidiaries, or (2) any corporation which, immediately prior to such acquisition, is owned
directly or indirectly by the shareholders of the Company in the same proportion as their ownership of stock in the Company immediately prior to such acquisition. 
 (c) “Company” means RTI Biologics, Inc. and, following a Change in Control, any direct or indirect successor to the business of RTI Biologics, Inc. 

(d) “Good Reason” means any one or more of the following actions or omissions by the Company or an affiliate:

 (i) the assignment to Executive of any duties materially inconsistent with Executive’s position, authority, duties or
responsibilities as in effect immediately prior to such assignment, or any other material diminution in such position, authority, duties or responsibilities; 
 (ii) any material reduction in Executive’s annual base salary or annual bonus opportunity in effect at any time and from time to time; 

(iii) a relocation of Executive’s principal office by more than 150 miles; or 

(iv) the failure or refusal by a successor or acquiring company to expressly assume the obligations of the Company under this Agreement
upon the consummation of a Change in Control. 

  
 - 2 -

 Notwithstanding the foregoing, Executive will not have “Good Reason” to terminate
Executive’s employment merely because Executive is no longer a senior executive of a public company or has a different organizational title as a result of a Change in Control, provided that Executive’s operational duties, responsibilities
and authority with respect to the business of the acquired or company are not otherwise materially diminished. As a condition to terminating Executive’s employment for Good Reason, Executive must specify in writing to the Company (or the
successor or acquiring company) the nature of the act or omission that Executive deems to constitute Good Reason and provide the Company (or the successor or acquiring company) 30 days after receipt of such notice to review and, if curable, to
correct the situation (and thus prevent Executive’s termination for Good Reason). Notice of termination for Good Reason must be provided, if at all, within 60 days after the occurrence of the event or condition giving rise to such termination.

 (e) “Severance Event” means a termination of Executive’s employment with the Company and its
subsidiaries during the Term of this Agreement, either (1) by the Company without Cause, or (2) by Executive for Good Reason. 
 (f) “Termination Date” means the date on which a Severance Event occurs. 
 2. Term of Agreement. Except as otherwise provided, the term of this Agreement (“Term”) shall expire on the third anniversary of the Effective Date, subject to the right of the
Company to extend the Term by giving Executive written notice of the extension prior to the expiration of the then current Term. If a Change in Control occurs before the expiration of the Term (determined with regard to any extensions), and if the
Term would otherwise end within two years after the date of the Change in Control, then the Term will automatically be extended to the second anniversary of the date of the Change in Control. 

3. Severance Protection. 
 (a) Accrued Compensation and Benefits. If a Severance Event occurs, then Executive will be entitled to receive (1) any earned and unpaid salary, payable on the Company payroll date coincident
with or next following the Termination Date; (2) the unpaid amount, if any, of the bonus earned by Executive for the year preceding the year in which the Termination Date occurs, payable on the later of (A) the date payment of the prior
year’s bonus would otherwise be made in the ordinary course of business, consistent with past practice, or (B) on the Company payroll date coincident with or next following the Termination Date; (3) subject to applicable Company
policy, reimbursement of previously unreimbursed expenses that are incurred through the Termination Date and are otherwise eligible for reimbursement, all in accordance with Company policy relating to the reimbursement of executive expenses; and
(4) any vested payments and benefits accrued by Executive through the Termination Date under and in accordance with the terms of any employee plan in which Executive is or was a participant. 

  
 - 3 -

 (b) Additional Payments and Benefits. If a Severance Event occurs, then, subject to
the provisions hereof, including, without limitation, Section 4 below, Executive will be entitled to receive the following payments and benefits: 
 (i) a cash severance payment (the “Severance Payment”) equal to the product of 1.0 multiplied by the sum of (1) Executive’s annual rate of salary in effect immediately prior to
the Termination Date (or, if greater, the rate in effect as of the beginning of the year preceding the year in which the Termination Date occurs), plus (2) the amount of Executive’s target bonus opportunity for the fiscal year in which the
Termination Date occurs (or, if there is no target bonus for such year, the amount of the bonus earned by Executive for the immediately preceding year), which Severance Payment shall be payable ratably for a period of 12 months following such
termination of employment as if it were salary payable in accordance with the Company’s normal payroll practices, subject to and in accordance with Section 4 below; 
 (ii) accelerated vesting of any stock options, restricted stock units, shares of restricted stock and other forms of equity-based incentive awards that are not otherwise fully vested on the Termination
Date, except to the extent that any vesting is subject to performance targets in years commencing after the Termination Date which have not yet been attained ; and 
 (iii) if, immediately before the Termination Date, Executive and/or Executive’s spouse and/or any of Executive’s dependents participates (other than via COBRA) in a Company group health plan,
then, for 18 months following the Termination Date (or, if sooner, until corresponding coverage is obtained under a successor employer’s plan), Executive and/or such spouse and/or dependents may elect to continue participating in the
Company’s plan at the same benefit and contribution levels and on the same basis as if Executive’s employment had continued (which continuing participation will be deemed to be in addition to and not in lieu of COBRA), provided,
however, that, if the provision of such coverage is not permitted by the plan or by applicable law or would otherwise cause the Company to incur a penalty or additional tax, then, in lieu of such coverage, the Company will provide COBRA
continuation coverage to Executive, and Executive’s spouse and/or dependents, at the Company’s sole expense, if and to the extent any of such persons elects and is entitled to receive COBRA continuation coverage, and, to the extent
required by applicable tax law, the amount of the Company’s COBRA subsidy will be reported as W-2 wage income to Executive. 
 4. Release of Claims and Other Conditions; Timing and Form of Payments. 

(a) General. Notwithstanding anything to the contrary contained herein, Executive’s right to receive and retain any severance
payments or benefits listed in Section 3(b) above shall be conditioned upon (a) Executive’s having delivered to the Company, within 60 days after the Severance Event, a valid and binding release, substantially in the form annexed
hereto as Exhibit A, which is no longer subject to revocation; and (b) Executive’s compliance with the restrictive covenants described in Exhibit B annexed hereto (the “Restrictive Covenants”)
during the period over which the Severance Payment is payable in accordance with Section 3(b)(i) above. If Executive timely satisfies the foregoing release condition and continues to then be in compliance with the Restrictive Covenants, the
initial installment of the Severance Payment will be payable on first Company payroll date (the “Initial Payment Date”) next following the date that is 60 days after the date on which Executive’s employment terminates and will
include the payments that would otherwise have been made during such 60-day period. If Executive violates any of the Restrictive Covenants after having received (directly or indirectly) any of the payments or benefits described in Section 3(b),
the Company will be entitled to recoup from Executive the amount of any such payments and the value of any such benefits previously received by Executive, and Executive will not be entitled to receive any further payments or benefits that would
otherwise have been payable or provided to Executive under Section 3(b) after Executive’s violation of the Restrictive Covenants. 

  
 - 4 -

 (b) Effect of Change in Control. If a Change in Control occurs on or after
the date of a Severance Event, then the unpaid balance, if any, of the Severance Payment will be payable in a single sum cash payment on the later of (1) the initial payment date described in the preceding subparagraph, or (2) the date of
the Change in Control. If a Severance Event occurs on or after the date of a Change in Control, then the entire amount of the Severance Payment will be payable in a single sum cash payment on the Initial Payment Date. 

5. Limitation on Parachute Payments. If Executive is entitled to receive payments and benefits under this Agreement and if, when
combined with the payments and benefits Executive is entitled to receive under any other plan, program or arrangement of the Company, Executive would be subject to excise tax under Section 4999 of the Code or the Company would be denied a
deduction under Section 280G of the Code, then Executive will be entitled to receive either (a) the full amount of the such payments and benefits, or (b) a reduced amount having a value equal to one dollar less than three times
Executive’s “base amount” (as such term is defined in Section 280G(b)(3)(A) of the Code), whichever of clauses (a) and (b), after taking into account applicable federal, state, and local income taxes and the
Section 4999 excise tax, results in the receipt by Executive on an after-tax basis, of the greatest amount of payments and benefits. For purposes of determining the after-tax amounts in (a) and (b) above, Executive will be deemed to
pay federal, state and local income tax at the highest marginal rates, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes. If there is a reduction of payments and benefits
pursuant to the foregoing, then, unless the parties agree otherwise, such reduction will occur in the following order: (1) any cash severance payable by reference to Executive’s base salary or bonus; (2) any other cash amount payable
to Executive; (3) any benefit valued as a “parachute payment;” and (D) acceleration of vesting of any equity or other incentive awards. 
 6. [Termination of Employment Agreement;] Effect of Other Agreements. [The Employment Agreement is hereby terminated and superseded in its entirety by this Agreement.] If any termination or
severance payments or benefits are made or provided to Executive by the Company pursuant to any other agreement between Executive and the Company [(other than the Employment Agreement)], then the payments and benefits required to be provided under
this Agreement shall be reduced by the amount of the comparable payments and benefits payable under such other agreement(s) in order to avoid duplication. 
 7. No Duty to Mitigate. Except as otherwise specifically provided herein, Executive’s entitlement to payments and benefits hereunder is not subject to mitigation or a duty to mitigate by
Executive. 
 8. Successors and Assigns. The Company shall require any successor or assignee, whether direct or indirect,
by purchase, merger, consolidation, or otherwise, to all or substantially all the business or assets of the Company and its subsidiaries taken as a whole, and as a condition to any such purchase, merger, consolidation or other form of transaction,
expressly and unconditionally to assume and agree to perform or cause to be performed the Company’s obligations under this Agreement. In any such event, the term “Company,” as used herein shall include any such successor or assignee.

  
 - 5 -

 9. Legal Fees to Enforce Rights after a Change in Control. If, following a Change in
Control, the Company fails to comply with any of its obligations under this Agreement or the Company takes any action to declare this Agreement void or unenforceable or institutes any arbitration, litigation or other legal action designed to deny,
diminish or to recover from Executive the payments and benefits intended to be provided, then Executive shall be entitled to select and retain counsel at the expense of the Company to represent Executive in connection with the good faith initiation
or defense of any arbitration, litigation or other legal action, whether by or against the Company or any director, officer, stockholder or other person affiliated with the Company or any successor thereto in any jurisdiction, in connection with the
enforcement by Executive of Executive’s rights hereunder. 
 10. Tax Withholding. The payment of any amount pursuant
to this Agreement shall be subject to all applicable tax withholding. 
 11. Section 409A Compliance. This Agreement
is intended to comply with the applicable requirements of Section 409A of the Code and shall be limited, construed and interpreted in accordance with such intent. A termination of employment will not be deemed to have occurred for purposes of
any provision of this Agreement providing for the payment of any amounts or benefits following or upon a termination of employment (to the extent such payments or benefits are subject to Section 409A) unless such termination also constitutes a
“separation from service” within the meaning of Code Section 409A. Any payment otherwise required to be made to Executive on account of the termination of Executive’s employment, to the extent such payment is properly treated as
deferred compensation subject to the Section 409A of the Code and the regulations and other applicable guidance issued by the Internal Revenue Service thereunder, and only if the Executive is treated as a “specified employee” within
the meaning of Section 409A of the Code at the time of Executive’s termination of employment, shall not be made until the first business day after the expiration of six months from the Termination Date or, if earlier, the date of
Executive’s death. On the payment date, as so delayed, there shall be paid to Executive (or Executive’s estate, as the case may be) in a single cash payment an amount equal to the aggregate amount of the payments delayed pursuant to the
preceding sentence. Each payment required under this Agreement will be considered a separate payment for purposes of determining the applicability of or exemption from Section 409A. To the extent that reimbursements or other in-kind benefits
under this Agreement constitute “nonqualified deferred compensation” for purposes of Code Section 409A, (i) all expenses or other reimbursements hereunder will be made no later than the time frame set forth in this Agreement, but
in any event, on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred by Executive, (ii) any right to reimbursement or in-kind benefits will not be subject to liquidation or exchange for
another benefit, and (iii) no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any taxable year will in any way affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any
other taxable year. Notwithstanding the foregoing, Executive shall be solely responsible, and the Company shall have no liability, for the payment of any taxes, acceleration of taxes, interest or penalties that may be incurred under or as a result
of Section 409A of the Code. 

  
 - 6 -

 12. Not a Contract of Employment. This Agreement shall not be deemed to constitute a
contract of employment between Executive and the Company. Nothing contained herein shall be deemed to give Executive a right to be retained in the employ or other service of the Company or to interfere with the right of the Company to terminate
Executive’s employment at any time. 
 13. Governing Law. This Agreement shall be governed by the laws of the State
of Florida, excluding its conflict of law rules. 
 14. Continuing Indemnification. If Executive is made, or threatened
to be made, a party to any legal action or proceeding, whether civil or criminal, including any governmental or regulatory proceedings or investigations, and whether commencing before or after the termination of Executive’s employment with the
Company and its subsidiaries, by reason of the fact that Executive is or was an employee, officer or director of the Company or any of its subsidiaries, Executive shall be indemnified by the Company, and the Company shall pay Executive’s
related expenses when and as incurred, all to the fullest extent permitted by the laws of the State of Delaware and the Company’s organizational documents and as may be covered by liability insurance, to the same extent as is applicable to
other executive officers of the Company. The foregoing shall be in addition to any other indemnification coverage which Executive may have immediately prior to the Termination Date. 

15. Cooperation. Executive agrees to reasonably cooperate with the Company with respect to any actions that have been or may be
commenced by or against the Company or about which Executive has knowledge, including meeting with the Company’s attorneys and providing testimony at a deposition or at trial. The Company agrees to reimburse Executive for any reasonable
expenses incurred by Executive as a result of his cooperation with the Company with respect to such matters. 
 16.
Counterparts. This Agreement may be executed in separate counterparts, each of which will be an original and all of which taken together shall constitute one and the same agreement, and any party hereto may execute this Agreement by signing
any such counterpart. 
 17. Entire Agreement. This Agreement contains the entire understanding between the parties
hereto with respect to the subject matter hereof and supersedes any prior and/or contemporaneous understandings, agreements or representations, written or oral, relating to the subject matter hereof. This Agreement may be amended only by a written
instrument signed by both parties. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

			
	RTI BIOLOGICS, INC.
		
	By:	 	  

	
	  

	Executive

  
 - 7 -

 EXHIBIT A 
 RELEASE AGREEMENT 
 This Release Agreement
(“Agreement”) is made as of [—], 20     by and between [—] (“Executive”) and RTI BIOLOGICS,
INC. (the “Company”). 
 1. This will confirm that a Severance Event as described in Section 1(e) of
Executive Transition Agreement between Executive and the Company, dated August 29, 2012 (the “Executive Transition Agreement”), has occurred. In accordance with Section 4 of the Executive Transition Agreement,
Executive’s right to receive and retain certain severance payments and benefits under Section 3 of the Executive Transition Agreement is conditioned upon the timely receipt by the Company of a general release by Executive in favor of the
Company, its affiliates and their officers, directors and employees, which is no longer subject to revocation. Accordingly, in consideration of the severance payments and benefits under the Executive Transition Agreement and other good and valuable
consideration, Executive for himself and for the executors and administrators of Executive’s estate, Executive’s heirs, successors and assigns, hereby releases and forever discharges the Company and its affiliates and each of its or their
current and former officers, directors, employees and stockholders (the “Releasees”) from any and all claims, actions, causes of action, suits, sums of money, debts, dues, accounts, reckonings, bonds, bills, covenants, contracts,
controversies, agreements, promises, demands or damages of any nature whatsoever or by reason of any matter, cause or thing regardless of whether known or unknown at present, which against the Releasees Executive ever had, now has or may have
arising out of or relating to any transaction, dealing, relationship, conduct, act or omission, or any other matters or things occurring or existing at any time prior to and including the date of this Release (collectively defined herein as
“Claims”). This Release includes, but is not limited to, all Claims Executive might have under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. §§2000e, et. seq.; 42 U.S.C. §§1981, et.
seq.; the Americans with Disabilities Act, 29 U.S.C. §§2000e, et. seq.; the Age Discrimination in Employment Act; the Older Workers Benefits Protection Act; the federal Family and Medical Leave Act; Section 451 et.
seq.; similar state laws, and any and all statutory and common law causes of action for defamation; slander; slander per se; defamation per se; false light; tortious interference with prospective business relationships; assault;
sexual assault; battery; sexual harassment; sexual discrimination; hostile work environment; discrimination; retaliation; workers’ compensation; wrongful termination; intentional infliction of emotional distress; breach of a duty or obligation
of any kind or description, including any implied covenant of good faith and fair dealing; and for breach of contract or any tort whatsoever, as well as any expenses or attorney’s fees associated with such Claims. The parties acknowledge that
this Release does not either affect the rights and responsibilities of the Equal Employment Opportunity Commission to enforce the Age Discrimination in Employment Act, or justify interfering with the protected right of an employee to file a charge
or participate in an investigation or proceeding conducted by the Equal Employment Opportunity Commission under the Age Discrimination in Employment Act. In the event the Equal Employment Opportunity Commission commences a proceeding against the
Company in which Executive is a named party, Executive agrees to waive and forego any monetary claims which may be alleged by the Equal Employment Opportunity Commission to be owed to Executive. Notwithstanding the foregoing, nothing in the
provisions of this Release shall act as a release by Executive of any Claims against the Company with respect to (i) any amounts or benefits to which Executive may be entitled under and in accordance with the terms of the Executive Transition
Agreement, (ii) any right Executive may have to indemnification under the terms of the Executive Transition Agreement or under the terms of any other applicable indemnification agreement, the organizational documents of the Company, the terms
of any insurance policy, the terms of any Company indemnification policy, the terms of applicable law or otherwise, (iii) Executive’s rights under and in accordance with the terms of any employee benefit plan in which Executive
participates, and (iii) any Claims arising with respect to acts, events or occurrences taking place after the date of this Release. For the purposes hereof, the term “Company” shall include any direct or indirect successor to the
Company. Executive does not waive or release any claims which arise after the date Executive executes this Agreement. 

  
 A-1

 2. Executive has been advised to consult with an attorney prior to executing this
Agreement. By executing this Agreement, Executive acknowledges that (a) Executive has been provided with an opportunity to consult with an attorney or other advisor of Executive’s choice regarding the terms of this Agreement, (b) this
is a final offer and Executive has been given 45 days in which to consider whether Executive wishes to enter into this Agreement, (c) Executive has elected to enter into this Agreement knowingly and voluntarily and (d) if Executive does so
within fewer than 45 days from receipt of the final document Executive has knowingly and voluntarily waived the remaining time. This Agreement shall be fully effective and binding upon all parties hereto immediately upon execution of this Agreement
except as to rights or claims arising under the ADEA, in which case Executive has 7 days following execution of this Agreement to change Executive’s mind. 

 

			
	  

	Executive
	
	RTI BIOLOGICS, INC.
		
	By:	 	  

	Title:	 	  

  
 A-2

 EXHIBIT B 
 RESTRICTIVE COVENANTS 
 This Exhibit B is part of, and is
incorporated by reference in, the Executive Transition Agreement (the “Agreement”) to which this Exhibit B is attached. The covenants set forth in this Exhibit B are given by Executive in consideration for the benefits described in
the Agreement and other good and valuable consideration. Unless otherwise specified, the capitalized terms used in this Exhibit B shall have the meanings ascribed to them in the Agreement. 

1. Nondisclosure of Confidential Information; Inventions. 

(i) The Company possesses valuable business and technical information, know-how and trade secrets (whether written or oral) related to
its and its subsidiaries’ current, future and proposed operations and products, including, but not limited to, research, developments, improvements, methods, procedures, discoveries, patents, patent applications, inventions, processes,
formulas, technology, designs, models, drawings, product plans, products, services, customers, customer lists, strategies, studies, business plans, forecasts, markets, techniques, engineering, testing systems, hardware configuration information,
computer software and programs (including source code and related documentation), test and/or experimental data and results, laboratory notebooks, marketing, finances or other business information (herein collectively referred to as
“Confidential Information”). Confidential Information shall include any and all information relating to the Company, and its subsidiaries, affiliates, clients, customers, investors, and joint venture and strategic partners, but
shall not include any information is part of the public domain other than as a result of the Executive’s or another person’s breach of duty to maintain confidentiality. 

(ii) The Executive is an employee of the Company and as such the Company has and will disclose Confidential Information to the Executive.
The Executive shall not communicate the Company’s Confidential Information to any third party without the prior written consent of the Company, and the Executive shall use Executive’s best efforts to prevent inadvertent disclosure of the
Company’s Confidential Information to any third party. The Executive hereby acknowledges that Executive is aware that United States securities laws prohibits any person who has received from an issuer material, non-public information from
purchasing or selling securities of such issuer or from communicating such information to any other person under circumstances in which it is reasonably foreseeable that such person is likely to purchase or sell such securities. 

(iii) In the event that the Executive is requested or required (by oral question or request for information or documents and legal
proceedings, interrogatories, subpoena, civil investigative demand or similar process) to disclose Confidential Information of the Company, or if the Executive is advised by Executive’s legal counsel that it is legally required to disclose the
Confidential Information, it is agreed that the Executive (i) will provide the Company prompt notice of any request or requirement, (ii) will provide the Company full and complete cooperation to seek an appropriate order or remedy,
(iii) will cooperate with the Company in obtaining reliable assurances that confidential treatment will be accorded to the disclosure of Confidential Information, and (iv) will, if disclosure of said Confidential Information is required,
disclose only that portion of the Confidential Information which is legally required to be disclosed. 

  
 B-1

 (iv) The Executive will make full and prompt disclosure to the Company of all inventions,
creations, improvements, discoveries, trade secrets, secret processes, technology, know-how, methods, developments, software, and works of authorship or other creative works, whether patentable or not, which are created, made, conceived or reduced
to practice by Executive or under Executive’s direction or jointly with others during Executive’s employment by the Company, whether or not during normal working hours or on the premises of the Company (herein collectively referred to as
“Developments”). 
 (v) The Executive agrees to assign and does hereby assign to the Company (or any person or
entity designated by the Company) all of Executive’s right, title and interest in and to all Developments and all related patents, patent applications, copyrights and copyright applications; provided, however, that this Section 1(v) shall
not apply to Developments that do not relate to the present or planned business or research and development of the Company and which are made and conceived by the Executive not during normal working hours, not on the Company premises and not using
the Company’s tools, devices, equipment or Confidential Information. 
 (vi) The Executive agrees to cooperate fully with
the Company and to take such further actions as may be necessary or desirable, both during and after Executive’s employment with the Company, with respect to the procurement, maintenance and enforcement of copyrights, patents and other
intellectual property rights (both in the United States and foreign countries) relating to Developments. The Executive shall sign all papers, including, without limitation, copyright applications, patent applications, declarations, oaths, formal
assignments, assignments of priority rights, and powers of attorney, which the Company may deem necessary or desirable in order to protect its rights and interests in any Development. The Executive further agrees that if the Company is unable, after
reasonable effort, to secure the signature of the Executive on any such papers, any executive officer of the Company shall be entitled to execute any such papers as the agent and the attorney-in-fact of the Executive, and the Executive hereby
irrevocably designates and appoints each executive officer of the Company as Executive’s agent and attorney-in-fact to execute any such papers on Executive’s behalf, and to take any and all actions as the Company may deem necessary or
desirable in order to protect its rights and interests in any Development, under the conditions described in this sentence. 

(vii) Nothing herein shall be construed as giving the Executive any right in or to the Confidential Information or Developments or
granting the Executive any license under any intellectual property rights. 
 2. Duty to Return Company Documents and
Property. Upon the termination of Executive’s employment with the Company for any reason, Executive shall immediately return and deliver to the Company any and all papers, books, records, documents, memoranda and manuals, e-mail, electronic
or magnetic recordings or data, including all copies thereof, belonging to the Company or any of its subsidiaries or relating to the business of the Company or any of its subsidiaries, in Executive’s possession, whether prepared by Executive or
others. If at any time after the termination of Executive’s employment, Executive determines that Executive has any trade secrets or other confidential information belonging to the Company or any of its subsidiaries in Executive’s
possession or control, Executive shall promptly return to the Company all such trade secrets and other confidential information, including all copies and portions thereof. 

  
 B-2

 3. Non-Solicitation. During the period of Executive’s employment or other
service with the Company and for 24 months thereafter, Executive shall not, without the prior written consent of the Company, directly or indirectly: (a) solicit, request, advise, entice, persuade or induce or hire any employee, consultant, or
independent contractor employed by or working on behalf of the Company or any of its subsidiaries at any time during the 24-month period prior to Executive’s termination of employment with the Company to leave the Company or any of its
subsidiaries or to engage in any activity which, were it done by Executive, would violate the terms hereof (it being understood that a general advertisement or solicitation for employment that is not targeted and that does not have the effect of
being targeted to any current or former Company employee, consultant or independent contractor shall not, by itself, be deemed to be a violation of this part 3(a)); or (b) solicit, request, advise, entice, persuade or induce any individual or
entity, including but not limited to any customer, supplier, vendor, investor, equity or financing source, or other contracting party of the Company or any of its subsidiaries, to terminate, reduce or refrain from continuing or renewing their
present or prospective contractual or business relationship with the Company or any of its subsidiaries. 
 4.
Non-Competition Restrictions. Executive agrees that, for a period of one year following the termination of Executive’s employment with the Company (the “Noncompetition Period”), Executive will not (1) engage in,
perform services for, be associated with, or employed by any person or entity that engages in the same or similar business that the Company is engaging in as of the last date of Executive’s employment, including but not limited to the business
of the recovery, procurement, manufacturing, processing or distribution of bone, tissue, allograph, or xenograph products, or (2) participate in, assist with or in any way become associated with or employed by any new start-up venture that the
parties agree in advance is or will be engaged in the same or similar business of the Company as of the last date of Executive’s employment. Executive acknowledges that this restrictive covenant is reasonably necessary to protect the
Company’s legitimate business interests, which are represented by, among other things, the substantial relationships between the Company and its licensees and tissue sources, as well as the goodwill established by the Company with licensees and
tissue sources in the United States and other countries where the Company’ tissues are distributed over a protracted period, specialized training, and other legitimate business reasons. Executive recognizes that the Company would not sign this
Agreement without the inclusion of this covenant, and Executive confirms the sufficiency of the consideration received by the Executive therefor. The provisions of this Paragraph 4 shall survive the termination of Executive’s employment with
the Company and the termination of the Agreement to which document is an Exhibit. 
 5. Remedies. It is intended that, in
view of the nature of the Company’s business, the restrictions contained in paragraphs 1 through 4 above are considered reasonable and necessary to protect the Company’s legitimate business interests and that any violation of these
restrictions would result in irreparable injury to the Company. In the event of a breach or threatened breach by Executive of any restrictive covenant contained herein, the Company shall be entitled to a temporary restraining order and injunctive
relief. Nothing contained herein shall be construed as prohibiting the Company from pursuing any other remedies available to it for any breach or threatened breach of these restrictive covenants, including, without limitation, the recoupment and
other remedies specified in the Agreement. These covenants and restrictions shall each be construed as independent of any other provisions in the Agreement, and the existence of any claim or cause of action by Executive against the Company, whether
predicated on the Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of such covenants and restrictions. 

  
 B-3

 6. Severability; Reformation. Should a court determine that any paragraph or
sentence, or any portion of a paragraph or sentence of this Exhibit B is invalid, unenforceable, or void, such determination shall not have the effect of invalidating or validating the remainder of the paragraph, sentence or any other provision of
this Exhibit B. Further, it is intended that the court should construe this Exhibit B by limiting and reducing it only to the extent necessary to be enforceable under then applicable law. 

  
 B-4

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