Document:

EX-10.20

 Exhibit 10.20 

Ortho Clinical Diagnostics 

August 13, 2015 
 Michael Iskra 

1316 State Boulevard 
 Franklin, TN 37064 

Dear Michael: 
 I am pleased to confirm the offer to join
Ortho-Clinical Diagnostics, Inc. (“the Company”) as President, North America Commercial Operations. We are confident you will find your new role to be one in which you can make significant contributions to the Company. The
following represents our offer to you: 
 Compensation 

Your annual salary, which will be paid bi-weekly, will be $400,000.00 annually. 

The Company maintains highly competitive, performance-based compensation programs. Under current guidelines, your position makes you eligible for an annual,
performance-based pay award which is intended to reward performance throughout a calendar/performance year. Performance-based pay awards are provided at the Company’s discretion, based on performance, and on an individual basis. If your date of
hire is on or before 9/30 you will be eligible for these awards for the current performance year, based upon performance and according to our proration schedule. If your date of hire is on or after 10/1 you will first be eligible for these awards in
the next performance year. 
 Your annual performance-based pay award is a cash award intended to provide you with an incentive to achieve annual targeted
results by rewarding individual and Company performance over a calendar/performance year. For your position, the current performance-based pay target is 45% of your base salary. You are generally only eligible to receive an award if you
remain employed at the end of the plan year. 
 In addition to your base salary and annual performance-based pay award, you are also eligible to receive an
EBITDA Performance Bonus of $50,000.00 following year-end results for 2015, 2016 and 2017 contingent on meeting or exceeding profitability targets for your region. This bonus will be awarded in the
first pay period in March of 2016, 2017 and 2018 provided that you remain employed with the Company on that date. We guarantee the 2015 award regardless of results. 

The granting of all compensation, as well as its amount, is at management’s sole discretion and is contingent upon your individual performance, the
performance of the Company, the performance criteria defined by the Company’s compensation plans, and your length of service during the performance year for which it is being granted. Guidelines and continued eligibility are determined
annually, and are subject to change from year to year. The continuation of any compensation program is subject to management discretion. Any potential performance-cycle salary changes and non-salary compensation, based on the guidelines and
eligibility, as well as your performance, are determined at year-end, once Ortho-Clinical Diagnostics, Inc. results have been assessed, and are paid during the first quarter of the following year. Timing of pay-out may vary for exceptions. 
 Signing Bonus 

We will also provide you with a signing bonus of $150,000.00 (less applicable taxes). The first payment of $75,000.00 will be awarded shortly after your
start date, the second payment of $75,000.00 will be awarded one (1) year after your start date, provided that you remain employed with the Company on those dates. In the event that you resign from your employment, or your employment is
terminated for cause within one year after the receipt of your second and final payment, you will be required to repay the signing bonus to the Company. Your acceptance of this offer is your authorization to the Company to deduct this amount from
any monies owing to you by the Company and your agreement to pay the Company any balance still owing after such deduction. 

 Long Term Incentives 

You are also eligible to participate in OCD’s long-term equity incentive plan. Subject to approval from the OCD Board of Directors, you will receive a
stock option grant covering 131,000 common shares in OCD’s parent entity. These options will be granted with an exercise price equal to the fair market value of the shares on the date of grant and will be subject to terms and conditions,
including vesting restrictions that will be set forth in separate agreements to be provided shortly. 
 Relocation Package 

As part of this offer, a summary of relocation benefits is attached. This package will be administered in accordance with the terms of the current relocation
policy. The package will be provided by a relocation counsellor, who will contact you directly within the next five business days to review the package with you in further detail. 

Please note that should you voluntarily terminate your employment or your employment is terminated for cause within 24 months of the official start date of
your new assignment with the Company, you will be required to reimburse the Company for costs paid on your behalf associated with your relocation package. The terms of repayment are outlined in the Relocation Repayment Agreement, which will
immediately follow this offer letter. If you accept our offer, you are required to sign the Relocation Repayment Agreement and return it with your signed offer letter. Employment is “at will” and the Relocation Repayment Agreement is not a
contract of employment nor does it imply that your Employment will continue for any period of time or confer any rights with respect to the duration of Employment. 

This offer and your subsequent employment are contingent upon your accurately completing and submitting all requested information and agreeing to and meeting
all necessary requirements for employment. Should you fail to do so, this employment offer could be considered null and void, and the Company will be under no obligation to hire you for this or any other position. 

Vacation 
 You are entitled to twenty five (25) days
of vacation per year. Under current policy, you will become eligible for five (5) additional days of vacation during the year in which you reach your thirtieth service anniversary. This year your total vacation and floating holiday entitlement
will be based on your start date and will be pro-rated according to the current vacation and holiday policy. The granting of floating holidays is at management’s sole discretion and is announced annually.
You will accrue vacation benefits upon hire at an accrual rate calculated based on your work schedule (i.e. the number of hours you work weekly). 

Offer Requirements 
 This offer is contingent upon: 

 

	 	•	 	 Satisfactory results of background and reference checks. 

 

	 	•	 	 A pre-placement health evaluation (including drug screen).

  

	 	•	 	 Proper and complete submission of: 

 

	 	•	 	 The Employment Application and background release form(s) required by the Company. 

 

	 	•	 	 Work authorization papers (I-9 Documentation). The Immigration Reform and
Control Act of 1986 require employers to verify the employment eligibility and identity of all new employees. In accordance with this Act, please bring the appropriate identifying documents with you on your first day of employment. Additional
details will follow after clearance for hire has been received. 

 Additionally, you will be required to complete, sign and return the
Company’s Employee Secrecy, Intellectual Property, Non-Competition and Non-Solicitation Agreement. Please be aware that, in addition to requiring you to sign the
Agreement, we expect you to retain in confidence and not disclose or use in your employment with us any confidential information you have obtained from your present or previous employer(s). Please return the signed Agreement with your signed offer
letter. 
 This offer and your subsequent employment are contingent upon your accurately completing and submitting all requested information and agreeing to
and meeting all necessary requirements for employment. Should you fail to do so, this employment offer could be considered null and void, and the Company will be under no obligation to hire you for this or any other position. 

 Invitation to Self-Identify 

As a Federal contractor subject to Section 503 of the Rehabilitation Act of 1973, the Vietnam-era Veterans
Readjustment Assistance Act of 1974 and the Veterans Employment Opportunity Act of 1998, we are required to extend to applicants a post-offer invitation to self-identify as a Vietnam-era veteran, or veteran
covered by the Veterans Employment Opportunities Act of 1998. Providing this information is voluntary and will be kept confidential in accordance with the law. Choosing not to provide it will not have an adverse impact on employment. This
information will be used only in accordance with our equal employment opportunity policy. 
 Employee Dispute Resolution Program 

The Company administers an Employee Dispute Resolution Program as the exclusive means for attempting to resolve disputes between employees and the Company. In
accepting this position, you agree to process any employment-related claims against the Company or their employees through this. 
 Benefits 

Our flexible benefits program includes medical, dental, life, and accident coverage for employees and family members, for which coverage begins on the first
day of employment. In addition, the Company has a 401K Savings Plan that employees may choose to participate in. 
 The Company maintains an employment-at-will relationship with its employees. This means that both you and the Company retain the right to terminate this employment relationship at any time and for any
reason. All compensation and assistance referred to in this letter is subject to your continued employment and satisfactory job performance. All salary, performance-based pay awards, bonuses, and allowances referred to in this letter will be
considered normal income and will be subject to applicable State and Federal income taxes. 
 This offer letter constitutes our complete offer. Any promises
or representations, either oral or written, not contained in this letter and the documents referred to herein, are not valid and are not binding on Ortho-Clinical Diagnostics, Inc. 

Please note that we may review, modify, or suspend our company policies and programs at any time. Your eligibility would be as per the processes and policies
in effect at that time. 
 We are pleased to offer you this position, and we are looking forward to your joining Ortho-Clinical Diagnostics, Inc. Please
signify your acceptance of this offer of employment by signing and returning this document by August 17, 2015 via secure email, per the instructions. If you have any questions concerning this offer, please feel free to give me a call at
(908) 704-2796. 
  

	
	Sincerely,
	
	 /s/ Gregory Griesemer

	Gregory Griesemer
	Global Director, Talent Acquisition
	Ortho-Clinical Diagnostics, Inc.

  

					
	Agreed & Accepted:	 		 	
		 		 	
	 /s/ Michael S. Iskra
	 	        	 	 8/14/15

	* Applicant’s signature or (printed name if by email)	 		 	Date

 *Note: The Company accepts electronic signatures on Applications for Employment and offer letters. If you choose to use an
electronic signature to accept this offer, you acknowledge and agree to the following: 
 “I understand that – pursuant to the Electronic
Signature in Global and National Commerce Act – returning the signed offer letter from my e-mail account shall have the same legal effect and validity with respect to the acknowledgments set forth above
as my handwritten signature.” 
 Ortho-Clinical Diagnostics, Inc., recognizes electronic signature for offer acceptance as valid provided that
the E-mail account used to return the offer acceptance and the E-mail account noted on the applicant’s Employment Application (or for internal employees their
online bid application) are identical. 
 cc:    Alex Socarras, Bon LopezEX-10.21

 Exhibit 10.21 

Ortho Clinical Diagnostics 
  

 
  

 01/24/2020 

Dear Palani, 
 I am pleased to confirm the offer to join
Ortho-Clinical Diagnostics, Inc. (“The Company”) as Chief Innovation Officer. This is a Full time, exempt position. Pending satisfactory completion of the Company’s pre-employment requirements
explained below, your anticipated start date is 02/24/2020. 
 We are confident you will find your new role to be one in which you can make significant
contributions to the Company. This offer and your employment relationship with the Company, of course, will be subject to the terms and conditions of this letter, as well as to the Company’s standard personnel policies, rules and practices.
Please also be advised that the main business address and telephone number for Ortho Clinical Diagnostics are 1001 Route 202, Raritan, NJ 08869 and (908) 218-8000. 

The following further represents our offer to you: 

Compensation 
 Your initial annualized base salary,
which will be paid bi-weekly unless otherwise determined by state or local law, will be $450,000.00 You will receive your earned compensation at the employee address Ortho has on file for you or via a direct
deposit account you establish during onboarding. An exempt position means you are paid for the job you perform and not by the hour. Your salary will compensate you for all the hours you work. Accordingly, you will not be eligible to earn or be paid
overtime pay. 
 Performance-Based Pay 
 The
Company maintains highly competitive, performance-based compensation programs intended to provide you with an incentive to achieve annual targeted results. Under current guidelines, your position makes you eligible for an annual, Performance-Based
Pay (PBP) award which rewards performance throughout a calendar/performance year. PBP awards are provided at the Company’s discretion, based on performance, and on an individual basis. If your date of hire is on or before September 30th of this
year, you will be eligible for these awards for the current performance year, based upon performance and according to our proration schedule. 
 For your
new position, the PBP target is 60% of your base salary. 

  
 Ortho Clinical
Diagnostics | 1001 US-202 Raritan, New Jersey, United States 08869 

 Ortho Clinical Diagnostics 
  

 
  

 The amount of compensation levels is at management’s sole discretion and is contingent upon your
individual performance, the performance of the Company, the performance criteria defined by the Company’s compensation plans, and your length of service during the performance year for which it is being granted. Compensation levels and
incentive plans are subject to change at the Company’s discretion. All compensation and benefits referred to in this letter are subject to your continued employment and satisfactory job performance, conduct and attendance. All salary, PBP
awards, bonuses, allowances, and other forms of compensation referred to in this letter will be considered normal income and will be subject to applicable Federal, State and Local income taxes, withholdings and deductions. 

Signing Bonus Payments 
 The first payment up to
$150,000 (grossed up) will be paid within 30 days after your start date. This amount will be reduced to the extent your current employer does not require full repayment of your forgivable loan. An additional payment of $136,000 (subject to taxes)
will be paid if and only if your current employer does not pay out your bonus. 
 In the event that you voluntarily resign or are terminated for Cause,
prior to February 24, 2022, you will be required to repay a pro-rata portion of each referenced signing bonus payment. Such pro-rata portion will be based on a
fraction, the numerator of which is the number of whole months you were employed with the Company from February 24, 2020 through your termination date, and the denominator of which is 24. 

Long Term Incentive Plan 
 You are also eligible to
participate in the Company’s Long-term Equity Incentive Plan. Subject to approval from the Company Board of Directors, you will receive a stock option or other equity incentive award grant in the Company’s parent entity. The number of
shares is dependent upon the stock valuation and the time of grant and may be adjusted by the Company’s parent entity based on stock value changes. Any stock options will be granted with an exercise price equal to the fair market value of the
shares on the date of grant. The award will be subject to terms and conditions, including vesting restrictions that will be set forth in separate agreements to be provided to you. 

Relocation 
 As part of this offer, you will be
eligible for an executive relocation package. 
 Please note that should you voluntarily terminate your employment, or your employment is terminated for
cause, within 24 months from when the relocation benefits are provided (within 6 months of your start date), you will be required to reimburse the Company for costs paid on your behalf associated with your relocation package. The terms of repayment
are outlined in the Relocation Repayment Agreement. Employment is “at will” and the Relocation Repayment Agreement is not a contract of employment nor does it imply that your Employment will continue for any period or confer any rights
with respect to the duration of employment. 
 Vacation 

You are entitled to 4 Weeks of vacation. This year your total vacation and floating holiday entitlement will be based on your start date and will be pro-rated according to the Company’s current vacation and holiday policy. The granting of floating holidays is at management’s sole discretion and is announced annually. You will accrue vacation benefits
upon hire at an accrual rate calculated based on your work schedule (i.e. the number of hours you work weekly). 
  

  
 Ortho Clinical
Diagnostics | 1001 US-202 Raritan, New Jersey, United States 08869 

 Ortho Clinical Diagnostics 
  

 
  

 Benefits 

Our flexible benefits program includes medical, dental, life, and accident coverage for employees and qualified dependents, for which coverage begins on the
first day of employment. In addition, the Company has a 401K Savings Plan that employees may choose to participate in. Eligibility and coverage are determined and governed exclusively by the underlying plan documents. 

Invitation to Self-Identify 
 As a Federal
contractor subject to Section 503 of the Rehabilitation Act of 1973, the Vietnam-era Veterans Readjustment Assistance Act of 1974 and the Veterans Employment Opportunity Act of 1998, we are required to
extend to applicants a post-offer invitation to self-identify as a Vietnam-era veteran, or veteran covered by the Veterans Employment Opportunities Act of 1998. Providing this information is voluntary and will
be kept confidential in accordance with the law. Choosing not to provide it will not have an adverse impact on employment. This Information will be used only in accordance with our equal employment opportunity policy. 

Employee Dispute Resolution Program 
 The Company
administers an Employee Dispute Resolution Program as the exclusive means for attempting to resolve disputes during or after employment between employees and the Company. In accepting this position, you agree to process any employment-related claims
against the Company or its employees through this program. 
 At-Will Employment 

This offer is for “at-will” employment with the Company. The Company also maintains an employment-at-will relationship with its employees. This means that both you and the Company retain the right to terminate this employment relationship at any time, with or
without notice, and for any reason or no reason not contrary to law. 
 Offer Requirements 

This offer and your subsequent employment are contingent upon your accurately and satisfactorily completing and submitting all requested information and
agreeing to and meeting all necessary requirements for employment. Failure to do so can render this offer or any employment begun null and void and result in the Company not hiring you or terminating any employment already started. 

This offer is contingent upon satisfactory results of the following: 
  

	 	•	 	 Background check 

 

	 	•	 	 Pre-placement health evaluation and drug screen 

 

	 	•	 	 Reference checks if applicable 

This offer is also contingent upon satisfactory completion and submission of the following: 

 

	 	•	 	 Background Check Release Forms: You will receive a “Request for
Pre-Employment Screening” e-mail notification regarding your background check, which you must complete online. 

 

  
 Ortho Clinical
Diagnostics | 1001 US-202 Raritan, New Jersey, United States 08869 

 Ortho Clinical Diagnostics 
  

 
  

  

	 	•	 	 Work Authorization (1-9 Documentation): Employers must verify the
employment eligibility and identity of all new employees. In accordance with the Immigration Reform and Control Act, you must provide the Company with appropriate work authorization documents by or on your first day of employment.

  

	 	•	 	 Confidentiality & Intellectual Property Agreement: You will be required to review and accept the
Company’s Recruiting Workflow: Confidentiality & Intellectual Property. In addition to requiring you to enter into the Agreement, we expect you to keep confidential and not disclose or use in your employment with us any trade secrets
or confidential information you have obtained from your present or previous employer(s). This agreement is being delivered to your Candidate Home Page with this offer and requires your e-signature.

 This offer letter constitutes our complete offer. Any promises or representations, either oral or written, not contained in this letter
and the documents referred to herein, are not valid, authorized, or binding on the Company. 
 Please note that we may review, adjust, modify, or suspend
Company policies, compensation or benefit plans, and any other programs for business reasons at any time. Your eligibility will be determined per the standard terms and eligibility requirements of the policies, plans, and programs in effect at that
time. 
 We are pleased to offer you this position, and we are looking forward to your joining Ortho-Clinical Diagnostics, Inc. Please signify your
acceptance of this offer of employment by signing this offer. If you have any questions concerning this offer, please feel free to reach out to me at 732-947-2601. 

 

			
	Sincerely,
	
	 /s/ Gary Passman

	Gary Passman
	On behalf of Ortho-Clinical Diagnostics, Inc.

  

	
	Acknowledged and Accepted:
	
	 /s/ Chockalingam Palaniappan

	Chockalingam Palaniappan
	
	Date:     Jan 27, 2020

  

  
 Ortho Clinical
Diagnostics | 1001 US-202 Raritan, New Jersey, United States 08869

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