Document:

Form of Employment Agreement

 EXHIBIT 10.4 
 CHEMSPEC INTERNATIONAL LTD. 
 FORM OF EXECUTIVE EMPLOYMENT AGREEMENT 
 This Executive Employment Agreement, dated as of [·] (this “Agreement”), is executed by and between Chemspec
International Ltd., an exempted company with limited liability incorporated and existing under the laws of the Cayman Islands (the “Company”) and [·] ([ID number] [·]) (the
“Executive”). 
 RECITALS 
 The Company desires to employ the Executive, and the Executive agrees be employed by the Company, to act as the [·] of the Company, all pursuant to the terms and conditions of this Agreement; 
 NOW, THEREFORE, the parties hereto agree as follows: 
  

	1.	 	TERM OF EMPLOYMENT 

  

	 	1.1	 	The Company shall employ the Executive to take the position as set forth in Article 2 hereof, perform the duties and responsibilities as set forth in Article 2 hereof, and render
services to the Company during a term of [·] ([·]) years commencing on [·] and ending on [·] (the “Term”). The
Term may be early terminated pursuant to the provisions of Articles 4 and 5 hereof. 

  

	2.	 	POSITION, DUTIES AND RESPONSIBILITIES 

  

	 	2.1	 	Position. The Executive shall be employed and act as the [·] of the Company with all responsibilities that are customary for a [·] of a company that is similar to the Company, as well as other responsibilities reasonably assigned to the Executive by the Company. The Executive shall initially work in [·]. The Executive
shall use his/her best efforts to perform his/her duties and shall comply with all applicable laws, regulations and rules as well as the memorandum and articles of association and corporate and business policies and procedures of the Company. The
Executive shall adhere to good business ethics and practices and shall not take advantage of his/her position for personal gains. 

  

	 	2.2	 	For the purpose of this Agreement, “Affiliate” means any entity directly or indirectly controlled by the Company. For the purpose of this Article, “Control”
means the direct or indirect possession of the power to direct or cause to direct the management and policies of such entity, whether through ownership of voting securities, by contract or otherwise, including, without limitation, (a) the
direct or indirect ownership of 50% or more of the outstanding stocks or other equity interests issued by such entity, (b) direct or indirect ownership of the 50% or more voting power of such entity, or (c) the power to appoint, directly
or indirectly, a majority of the members of the board of directors or other similar decision-making organization of such entity. 

  

	 	2.3	 	Voting Restriction. If the Executive is elected as a director of the Company, the Executive shall refrain from voting, in his/her capacity of a director of the Company, on
matters in relation to his employment or termination of his employment at meetings of the board of directors of the Company. 

	 	2.4	 	Other Activities. Except with the prior written approval of the Company, the Executive shall not render commercial or professional services of any nature to any person or
organization, whether or not for compensation; and the Executive will not directly or indirectly engage, participate, invest, finance or otherwise assist in any business activity that is potentially competitive in any manner with the business of the
Company or any Affiliate or any business activity that may cause the Executive to be in conflict of interest with the Company or any Affiliate, whether or not for profit. 

  

	3.	 	COMPENSATION AND BENEFITS 

 As full consideration
for the services to be provided by the Executive under this Agreement and as full compensation for the obligations and restrictions to be imposed on the Executive by this Agreement, the Company shall or have its Affiliate in which the Executive
holds a position, as the case may be, pay the Executive, and the Executive agrees to accept, the base salary, bonus, share option and other incentive programs, and other benefits as set forth in this Article 3. 
  

	 	3.1	 	Annual Compensation. The Executive’s total annual base compensation shall be RMB [·] each year, pro rated based on the actual days of
employment in each year of the Term. For each year after [·] of the Term, the board of directors of the Company or the compensation committee thereof may review the Executive’s compensation and determine the
Executive’s total annual compensation for such year; provided that the total annual base compensation shall be no less than RMB [·] per year for each year of the Term. The Executive is responsible for his own
taxes in compliance with the applicable laws and regulations during the Term of his employment. 

  

	 	3.2	 	Share Options. The Executive shall be eligible to participate in any share option or other incentive program available to officers or employees of the Company in accordance
with the terms and conditions thereof. Upon the commencement of the Executive’s employment with the Company pursuant to this Agreement, the Company agrees to award the Executive options to purchase [·] ordinary
shares of the Company (the “Options”) based on the understanding that the total outstanding shares and shares to be issued under the Company’s 2008 Employee Stock Option Program is not more than [·]
shares before its planned Initial Public Offering. The terms of the Options shall be set forth in a separate option award agreement to be entered into between the Company and the Executive. 

  

	 	3.3	 	Benefits. The Employee is eligible for participation in any standard employee benefit plan of the Company that currently exists or may be adopted by the Company in the
future, including, but not limited to, any retirement plan, life insurance plan, health insurance plan, disability insurance plan and travel/holiday plan. If the Employee elects, the Company shall pay the reasonable cost of membership for the
Employee, his spouse and dependent children not greater than twenty-one (21) years of age, for a private patient medical plan, with a reputable medical expense insurance scheme as the Company shall decide from time to time.

 The Employee shall (in addition to statutory holidays) be entitled to paid holiday of fifteen (15) working days in each
holiday year during the continuance of the Employment to be taken at such time or times convenient to the Company. The Employee may cash out or carry forward up to one year’s unused holiday entitlement to a subsequent holiday year and no
payment in lieu will be paid therefor. 

 The Employee will be entitled on termination to pay in lieu of any unused holiday entitlement. Where the
Employee has taken holiday in excess of his accrued entitlement, the Employee will be required to repay any excess salary received in respect of such holiday at the rate of 1/365th of the Executive’s salary for each day. 
  

	4.	 	TERMINATION BY THE COMPANY. 

  

	 	4.1	 	Termination for Cause. For purposes of this Agreement, unless otherwise provided under applicable laws, “Cause” will exist at any time after the occurrence of one
or more of the following events: (a) the Executive commits willful misconduct or gross negligence in performance of his duties hereunder (“Malfeasance”) and fails to correct such Malfeasance within a reasonable period specified by the
Company (the “Correction Period”) after the Company has sent the Executive a written notice demanding correction within the Correction Period; (b) the Executive has committed Malfeasance and has caused serious losses and damages to
the Company; (c) the Executive seriously violates the internal rules of the Company and fails to correct such violation within a reasonable period specified by the Company (the “Correction Period”) after the Company has sent the
Executive a written notice demanding correction within the Correction Period; (d) the Executive has seriously violated the internal rules of and has caused serious losses and damages to the Company; (e) the Executive is convicted by a
court or has pleaded guilty of theft, fraud or other criminal offense; or (f) the Executive seriously breaches his/her duty of loyalty to the Company or an Affiliate under the laws of the Cayman Islands, the PRC or other relevant jurisdictions.
The Company may terminate the employment of the Executive for Cause at any time without prior written notice. Upon termination, the Company shall pay all compensation of the Executive accrued up to the date of termination pursuant to Article 3
hereof; provided, however, that the Company may deduct and withhold any amount it is entitled to as damages under applicable laws. Thereafter, all obligations of the Company under this Agreement shall terminate. 

  

	 	4.2	 	Termination without Cause. The Company may terminate the Executive’s employment by a 30-day prior written notice. The Company shall have the option, in its sole
discretion, to make the Executive’s termination effective at any time prior to the end of such notice period as long as the Company pays the Executive all compensation to which the Executive is entitled up through the last day of the 30-day
notice period. Thereafter, all obligations of the Company under this Agreement shall terminate. 

 If the Executive’s
employment is terminated by the Company without cause (other than by reason of disability or death), the Executive shall receive, within 30 days following termination, a lump sum payment of (i) any earned but unpaid salary through the date of
termination, and (ii) any earned but unpaid bonus for any calendar year preceding the year in which the termination occurs. In addition, subject to the Executive’s compliance with Sections 7, 8 and 9 below, the Executive shall receive
continued payments of his salary for the following amount of time following the effective date of termination: (i) if the Executive has been employed for a duration of more than one year but less than two years, the Executive shall receive
continued payments of his salary for one month following the effective date of termination, (ii) if the Executive has been employed for a duration of more than two years and less than three years, the Executive shall receive continued payments
of his salary for two months following the effective date of termination or (iii) if the Executive has been employed for a duration of three or more years, the Executive shall receive continued payments of his salary for three months following
the effective date of termination. The Executive shall have no further rights to any compensation (including any salary or bonus) or any other benefits under this Agreement. 

 Notwithstanding the foregoing, the Company may deduct and withhold any amount it is entitled to as
damages under applicable laws. 
  

	 	4.3	 	Termination By Reason of Death. The employment of the Executive by the Company shall be automatically ceased upon the death of the Executive. In the event that employment of
the Executive by the Company terminates as a result of the Executive’s death, the Executive’s estate or heirs will receive all unpaid compensation accrued as of the date of the termination of the employment as provided in Article 3 hereof;
provided that, the Company may deduct and withhold any amount it is entitled to as damages under applicable laws. Thereafter, all obligations of the Company under this Agreement shall terminate. Nothing contained herein shall prevent the estate or
heirs of the Executive from being entitled to any interest or other applicable benefits under any life insurance programs (if any). If the death of the Executive occurs during the performance of his/her duties for the Company, the Company shall pay
to the appropriate beneficiaries a special compensation at an amount to be determined by the Company which shall not exceed the annual base salary of the Executive as set forth in Article 3.1 hereof. 

  

	 	4.4	 	Termination By Reason of Disability. In the event that the Executive is entitled to long-term disability benefits of the Company, or in the event that, in the judgment of the
Company, the Executive is not able to perform his/her duties for 90 consecutive days or 120 days or longer in a 12-month period due to his/her physical or psychological problems, the Company may terminate the Executive’s employment, provided
that such termination is permitted by the law. Upon termination, the Company shall pay all compensation of the Executive accrued up to the date of termination pursuant to Article 3 hereof; provided, however, that the Company may deduct and withhold
any amount it is entitled to as damages under applicable laws. Thereafter, all obligations of the Company under this Agreement shall terminate. The provisions of this Article 4.4 shall not affect the Executive’s rights under any disability
program that he/she participates (if any). 

  

	5.	 	TERMINATION BY THE EXECUTIVE 

  

	 	5.1	 	The Executive may terminate the Employment at any time with a 30-day prior written notice to the Company, if (1) there is a material reduction in the Employee’s authority,
duties and responsibilities, or (2) there is a material reduction in the Employee’s annual salary before the next annual salary review. In addition, the Executive may voluntarily terminate his/her employment with the Company with or
without cause by a 30-day prior written notice. During such 30-day notice period, the Executive shall continue to perform diligently his/her duties and responsibilities under this Agreement. The Company shall have the discretion to terminate its
employment with the Executive prior to the last day of such 30-day period; provided that the Company shall have paid the Executive all of his/her compensation accrued through the last day of such 30-day period pursuant to Article 3 hereof.
Thereafter, the Company’s obligations hereunder shall terminate. In such case, the Company shall not be responsible for paying any severance pay or other benefits to the Executive. 

	6.	 	RESPONSIBILITIES UPON TERMINATION 

  

	 	6.1	 	Return of Documents. The Executive agrees to promptly return to the Company all documents and materials in any form received by the Executive by virtue of his/her employment
with the Company upon or prior to the termination of his/her employment with the Company, including, without limitation, all originals and copies of any Proprietary Information as defined in Article 8 hereof as well as any part thereof, together
with all equipment and other tangible or intangible assets of the Company. The Executive agrees not to retain any document or material that contains such Proprietary Information or any copy thereof. 

  

	 	6.2	 	Survival. The Executive further agrees that (a) all representations, warranties and obligations under Articles 6, 7, 8, 9, 11 and 14 hereof shall survive the termination
or expiration of the Term; (b) all representations, warranties and obligations under Articles 6, 7, 8, 9, 11 and 14 hereof shall also survive the termination of this Agreement; and (c) after termination or expiration of the Term, the
Executive shall use his/her best efforts to cooperate with the Company in connection with such surviving obligations, including, without limitation to, completion of outstanding work on behalf of the Company, transfer of his/her assignments to
designated employees of the Company, and dependence of the Company against claims raised by any third party in connection with any action or negligence of the Executive during his employment with the Company. 

  

	7.	 	RESTRICTED ACTIVITIES 

  

	 	7.1	 	No-use of Proprietary Information. The Executive acknowledges that to conduct any activity restricted in this Article will certainly involve the use or disclosure of
Proprietary Information as defined in Article 8 hereof and consequently result in a breach of such Article, and it will be difficult to directly demonstrate a breach of Article 8 hereof. Therefore, in order to prevent the Executive from using or
disclosing the Proprietary Information as defined in Article 8 and as a condition to employing the Executive, the Executive agrees that during his/her employment with the Company and for a period of two years after the termination or expiration of
the employment, the Executive shall not, directly or indirectly: 

  

	 	(a)	 	refer or attempt to refer to any third party any business in which the Company or its Affiliates currently engage or will likely engage or participate, including, without
limitation, solicitation or provision of any business or services that are essentially similar to the business of the Company or its Affiliates on behalf of any individual, company or other entity who was then an existing or prospective customer,
supplier or partner of the Company or its Affiliates. 

  

	 	(b)	 	solicit or employ any person with whom the Company or its Affiliates maintain employment or consulting relation, or otherwise direct or cause any person to terminate his/her
employment or consulting relationship with the Company or its Affiliates. 

  

	 	7.2	 	Non-Competition 

  

	 	(a)	 	During the Restrictive Period set forth in Article 7.2(b) hereof, the Executive shall not, directly or indirectly, engage in any manner in any business that may compete with the
business of the Company anywhere in the world, and without the prior written consent of the Company, the Executive shall not, directly or indirectly, anywhere in the world, own an interest in, manage, operate, join, control, lend money or render
financial or other assistance to or participate in or be connected with, as an officer, employee, partner, stockholder, consultant or otherwise, any person that competes with the Company. 

	 	(b)	 	In this Article 7.2, “Restricted Period” shall mean the Term of this Agreement and two (2) years after the expiration or early termination thereof.

  

	 	(c)	 	In the event that the Executive is in breach of the provisions of Article 7.2(a) hereof, the Restricted Period shall be extended by the length of the period of such breach.

  

	 	(d)	 	The Executive acknowledges that the compensation to be paid by the Company shall have contained any and all economic consideration for each and all obligations of the Executive
under this Article 7.2. 

  

	 	7.3	 	Enforceability. Each covenant contained in this Article 7 constitutes an independent covenant, and if any covenant in unenforceable, other covenants shall continue to be
valid and binding. In the event the term of any restriction or the territorial restriction contained in this Article 7 is finally determined by a competent court to have exceeded the maximum extent deemed reasonable and enforceable by such court,
then this Agreement shall be amended as such to adopt the longest term or largest territory deemed by such court to be enforceable. 

  

	 	7.4	 	Independent Covenant. All covenants contained in this Article 7 shall be interpreted as a separate agreement independent of other provisions of this Agreement. Any lawsuit or
claim brought by the Executive against the Company (whether by virtue of this Agreement or any other agreement) shall not constitute a defense against the enforcement of this Article 7 by the Company. 

  

	8.	 	PROPRIETARY INFORMATION 

  

	 	8.1	 	The Executive agrees that during his/her employment with the Company and within two (2) years after termination of his/her employment with the Company, he/she will keep in
strict confidence all Proprietary Information and, without the prior written consent of the Company, will not use or disclose to any individual, entity or company the Proprietary Information other than the use or disclosure for the purposes of
performing his/her duties and responsibilities and in favor of the Company to the extent necessary. “Proprietary Information” shall mean any proprietary, confidential or secret information disclosed to the Executive in connection with the
Company, the business of the Company, or the parent, subsidiaries, Affiliates, customers or suppliers of the Company or their respective businesses, or any other party to which the Company has confidentiality obligation (the “Related
Party”) or its business. Such Proprietary Information shall include, without limitation, trade secrets, manuals, hardware, students’ personal information, terms of business agreements and contracts, research materials, business strategies,
personnel information, market information, technical materials, forecasts, promotion, financial and other business information of the Company or the Related Parties, no matter such information is directly or indirectly disclosed to the Executive in
writing, orally, in the form of image or object or otherwise. The Executive understands that the Proprietary Information does not include any of the foregoing that has become known to the public. 

	9.	 	INTELLECTUAL PROPERTY 

  

	 	9.1	 	Inventions Retained and Licensed. Exhibit A of this Agreement sets forth all inventions which were made by the Executive prior to his/her employment with the Company
(collectively, the “Prior Inventions”), including all processes, inventions, technology, original works of authorship, developments, improvements, formulas, patents, discoveries, copyrights and trade secrets. Such Prior Inventions, which
belong to the Executive and are related to the Company’s proposed business, products or research and development, are not assigned to the Company hereunder. In case that there is no Prior Invention listed in Exhibit A hereof, the Executive
hereby confirms that no Prior Invention exist. If in the course of his/her employment with the Company, the Executive incorporates into a Company product, process, machine or other project a Prior Invention owned by the Executive or in which the
Executive has an interest, the Company is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide license to make, have made, modify, use, sell and engage in other actions with respect to such Prior Invention as
part of or in connection with such product, process or machine. 

  

	 	9.2	 	Assignment of Inventions. The Executive agrees that he/she will promptly make full written disclosure to the Company, will hold in trust for the sole right and benefit of the
Company, and hereby assign to the Company, or its designee, without further compensation, all his/her right, title, and interest in and to any and all inventions, original works of authorship, developments, concepts, improvements or trade secrets,
whether or not patentable or registrable under copyright or similar laws, which the Executive may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of time
the Executive is in the employment of the Company and within twelve (12) months after the termination or expiration of the employment (collectively referred to as “Inventions”), except as provided in Article 9.3 below. The Executive
further agrees that all patentable and copyrightable works which are made by the Executive (solely or jointly with others) within the scope of and during the period of his/her employment with the Company, are “works made for hire” and the
Executive hereby assigns all proprietary rights, including patent and copyright, in these works to the Company without further compensation. 

  

	 	9.3	 	Unrelated Inventions. Inventions as referenced to in Article 9.2 hereof does not include inventions which the Executive can demonstrate to be developed entirely on his/her
own time without using the Company’s equipment, supplies, facilities or trade secret information (the “Unrelated Inventions”), unless those inventions that are either (i) related at the time of conception or reduction to practice
of the invention to the Company’s business, or actual or demonstrably anticipated research or development of the Company, or (ii) result from any work performed by Executive for the Company. The Executive agrees to disclose promptly to the
Company all such Unrelated Inventions and to provide the Company or its assignee first rights of refusal to license such disclosed Unrelated Inventions within three months after his/her disclosure of such Unrelated Inventions based on commercially
negotiated terms. 

  

	 	9.4	 	Maintenance of Records. The Executive agrees to keep and maintain adequate and current written records of all Inventions made by the Executive (solely or jointly with others)
during the term of his/her employment with the Company. The records will be in the form of notes, sketches, drawings, and any other format that may be specified by the Company. The records will be available to and remain the sole property of the
Company at all times. 

	 	9.5	 	Patent and Copyright Registrations. 

  

	 	(a)	 	The Executive agrees to assist the Company, or its designee, upon the instruction of the Company, in every proper way to secure the Company’s rights in the Inventions and any
copyrights, patents or other intellectual property rights relating thereto in any and all countries, including the disclosure to the Company of all pertinent information and data with respect thereto, the execution of all applications,
specifications, oaths, assignments and all other instruments which the Company shall deem necessary in order to apply for and obtain such rights and in order to assign and convey to the Company, its successors, assigns, and nominees the sole and
exclusive rights, title and interest in and to such Inventions, and any copyrights, patents or other intellectual property rights relating thereto. 

  

	 	(b)	 	The Executive further agrees that his/her obligation to execute or cause to be executed any such instrument or papers shall continue after the termination of this Agreement. If the
Company is unable because of the Executive’s mental or physical incapacity or for any other reason to secure his/her signature to apply for or to pursue any application for any domestic or foreign patents or copyright registrations covering
Inventions assigned to the Company as above, then the Executive hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as his/her agent and attorney in fact, to act for and in his/her behalf and stead to
execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent or copyright registrations thereon with the same legal force and effect as if executed by the Executive.

  

	10.	 	INFORMATION OF PREVIOUS EMPLOYER 

  

	 	10.1	 	The Executive agrees that during his/her employment with the Company he/she will not inappropriately use or disclose any proprietary information or trade secrets owned by any
previous employer of the Executive or any other individual or entity obtained prior to his/her employment with the Company, nor will he/she bring to the Company any such non-public document or proprietary information. 

  

	11.	 	INFORMATION OF THIRD PARTIES 

  

	 	11.1	 	The Executive hereby acknowledges that the Company has received and may continue to receive from third parties confidential or proprietary information. The Executive agrees to keep
in strict confidence all of such confidential or proprietary information in his/her possession and to refrain from using or disclosing to any individual, entity or company such confidential or proprietary information, except that such use or
disclosure is in compliance with the agreement between the Company and such third party and is necessary for the performance of relevant work on behalf of the Company. 

  

	12.	 	NO-CONFLICT 

  

	 	12.1	 	The Executive represents and warrants that the execution by the Executive of this Agreement, the employment with the Company, and the performance by the Executive of his/her duties
and responsibilities pursuant to this Agreement will not breach any of his/her legal or contractual obligation to any prior employer of the Executive or any other parties, including, without limitation, any obligation in respect of proprietary or
confidential information or intellectual property rights of such party. 

	13.	 	FOREIGN CORRUPTION ACT 

  

	 	13.1	 	The Executive agrees to diligently adhere to the applicable requirements of the United States Foreign Corrupt Practices Act. 

  

	 	13.2	 	The Executive agrees and promises not to provide or offer any remuneration, gift, service or article of value to any government officials (including working stuff or employees of
any government or administrative agencies, political parties or candidates) of any country for any reason. The Executive further agrees and promises that the Executive will not accept any remuneration in the form of cash or other tangible objects
from any person in performing his/her duties under this Agreement other than the compensation specified in Article 3 of this Agreement. The Executive promises that all conducts of the Executive under this Agreement shall be in compliance with all
relevant laws, regulations and administrative rules of the People’s Republic of China at all times. 

  

	14.	 	MISCELLANEOUS 

  

	 	14.1	 	Continuing Obligation. If the Executive is employed by any existing or future Affiliate of the Company at any time, or provides services to such Affiliate, or otherwise
retained by such Affiliate, then the obligations under this Agreement shall continue to apply. Any reference to the Company shall include such Affiliate. In the event that this Agreement expires or terminates for any reason, the Executive shall
immediately resign from any position at such Affiliate of the Company, unless otherwise required by the Company. 

  

	 	14.2	 	Right to Name and Image. The Executive hereby authorizes the Company to use, or authorize any other person to use, once or from time to time during his/her employment with
the Company, the names, photos, images (including cartoons), voices and resume of the Executive as well as photocopies and duplicates thereof in any media now known or developed in the future (including but not limited to movies, videos, digital or
any other electronic media) for purposes as may be deemed appropriate by the Company. 

  

	 	14.3	 	Legal Fees. In any dispute arise from or in connection with this Agreement, the winning party shall be entitled to be reimbursed for reasonable legal fees.

  

	 	14.4	 	Amendments, Extension and Waiver. This Agreement may not be amended, revised, extended or terminated unless by a written instrument executed by the Executive or a duly
authorized representative of the Company (excluding the Executive). Any failure or delay to assert any right, remedy or power shall not be construed as a waiver of such right, remedy or power. All rights and remedies existing under this Agreement
are cumulative to, and not exclusive of, any rights or remedies otherwise available. 

  

	 	14.5	 	Transfer; Successors and Assigns. The Executive agrees that he/she will not transfer, sell, assign or otherwise dispose of (whether voluntarily, involuntarily or by operation
of law) any rights or interests under this Agreement, and the rights of the Executive shall not be subject to any security interest or creditors’ claims. Any such transfer, assign or other disposal shall be invalid. Nothing contained in this
Agreement shall prevent the Company from merging into or with any other company or selling all or substantially all of the assets of the Company, or transfer this Agreement or any obligation under this Agreement. In the event of any change in the
ownership interest or the control of the Company, the provisions of this Agreement shall continue to apply and shall be binding upon any successors. Notwithstanding and subject to the foregoing, this Agreement shall be valid and binding upon, and
inure to the benefit of, the successor, representative, heirs and permitted assigns of each party, and shall not vest in any other individual or entity any interest. 

	 	14.6	 	Notice. All notices or other communications under this Agreement shall be made in writing and delivered to the following addresses or any other addresses designated by each
party in writing from time to time: 

 To the Company: 
  

			
	 Address:
	  	No. 3, Lane 1273, Tong Pu Road
		  	Shanghai, 200333
		  	People’s Republic of China

 To the Executive: 
  

							
	 Address:
	  	 	  		  	
	 Fax:
	  	 	  		  	
	 Attention of:    
	  	 	  		  	

 Any notice shall be deemed to have been delivered: 
  

	 	(a)	 	If by hand or courier, on the date of actual delivery; 

  

	 	(b)	 	If by prepaid and registered mail, on the fourth business days after the date of dispatch; or 

  

	 	(c)	 	If by fax, on the date on which the fax is transmitted (as evidenced by the confirmatory report with fax number, pages transmitted and date of transmission).

  

	 	14.7	 	Severability; Enforceability. If all or any portion of any provision of this Agreement as applied to any person, to any place or to any circumstance shall be ruled by an
arbitration commission or a court of competent jurisdiction to be invalid, illegal or incapable of being enforced, the same shall in no way affect (to the maximum extent permissible by Law) that provision or the remaining portions of that provision
as applied to any parties, places or circumstances or any other provisions of this Agreement or the validity or enforceability of this Agreement as a whole. 

  

	 	14.8	 	Governing Law. This Agreement shall be governed and construed in accordance with the laws of the People’s Republic of China. 

  

	 	14.9	 	Dispute Resolution. The parties hereto hereby irrevocably agree to settle any dispute, controversy or claim arising out of or related to this Agreement pursuant to binding
arbitration in accordance with the Rules of Conciliation and Arbitration of the International Chamber of Commerce, with such arbitration proceedings to be held at the Hong Kong Arbitration Center in Hong Kong and conducted in the English language.

  

	 	14.10	 	Language. This Agreement is written and executed in English. 

	 	14.11	 	Originals. This Agreement is executed by the parties in two originals. Each of the parties will hold one original, and the two originals shall be equally valid.

 The Executive acknowledges that (a) he/she has consulted or has the opportunity to consult with independent counsel of
his choice regarding this Agreement, and the Company has suggested that he do so and (b) he/she has read and understands this Agreement, fully understands its legal effect, and has entered into this Agreement voluntarily in his/her own
judgment. The Executive hereby agrees that the obligations under Articles 7, 8 and 9 hereof and the definition of the Proprietary Information contained in those provisions shall also apply to the Proprietary Information relating to any work
performed for the Company prior to the execution of this Agreement. 
 [Signatures Page to Follow] 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed on the date
first written above. 
  

			
	CHEMSPEC INTERNATIONAL LTD.
		
	By:	 	 
	 Name:

	 Title:

	
	 EXECUTIVE

		
	By:	 	 

 EXHIBIT A 
 Prior Inventions 
 [·]Confirmation of Forward Stock Sale Transaction - Morgan Stanley

 Exhibit 4.1 
 EXECUTION VERSION 
 

 
 May 19, 2009 
 Confirmation of Forward Stock Sale Transaction 
  

			
	To:	  	Beckman Coulter, Inc.
		  	4300 N. Harbor Boulevard,
		  	Fullerton, California 92834-3100
		
	From:	  	Morgan Stanley & Co. International plc
		  	c/o Morgan Stanley & Co. Incorporated
		  	1585 Broadway
		  	New York, NY 10036-8293
		
	From:	  	Morgan Stanley & Co. Incorporated
		  	Solely as Agent
		  	1585 Broadway
		  	New York, NY 10036-8293

 Dear Sir/Madam: 
 The
purpose of this letter agreement (this “Confirmation”) is to confirm the terms and conditions of the Transaction entered into between Morgan Stanley & Co. International plc (“Party A”) and Beckman Coulter, Inc.
(“Party B”) on the Trade Date specified below (the “Transaction”). This confirmation constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below. 
 The definitions and provisions contained in the 2002 ISDA Equity Derivatives Definitions (as published by the International Swaps and Derivatives Association, Inc.
(“ISDA”)) (the “Equity Definitions”) are incorporated into this Confirmation. In the event of any inconsistency between the Equity Definitions and this Confirmation, this Confirmation will govern. Any reference to a currency
shall have the meaning contained in Annex A to the 1998 ISDA FX and Currency Option Definitions, as published by ISDA. 
  

	1.	This Confirmation evidences a complete and binding agreement between Party A and Party B as to the terms of the Transaction to which this Confirmation relates. This Confirmation
shall supplement, form a part of, and be subject to an agreement in the form of the 2002 ISDA Master Agreement (the “Agreement”) as if Party A and Party B had executed an agreement in such form on the Trade Date (but without any Schedule
except for the election of the laws of the State of New York as the governing law). In the event of any inconsistency between provisions of that Agreement and this Confirmation, this Confirmation will prevail for the purpose of the Transaction to
which this Confirmation relates. The parties hereby agree that no Transaction other than the Transaction to which this Confirmation relates shall be governed by the Agreement. For purposes of the Equity Definitions, the Transaction is a Share
Forward Transaction. 

  

	2.	The terms of the particular Transaction to which this Confirmation relates are as follows: 

 GENERAL TERMS: 
  

			
	Trade Date:	  	May 19, 2009
		
	Effective Date:	  	May 26, 2009
		
	Base Shares:	  	2,250,000 Shares. On each Settlement Date, the Base Shares

  

 1 

			
		  	shall be reduced by the number of Settlement Shares for such Settlement Date.
		
	Maturity Date:	  	May 26, 2010 (or, if such date is not a Scheduled Trading Day, the next following Scheduled Trading Day); provided that if the Maturity Date is a Disrupted Day, then the Maturity Date
shall be the first succeeding Scheduled Trading Day that is not a Disrupted Day.
		
	Forward Price:	  	On the Effective Date, the Initial Forward Price, and on any other day, the Forward Price as of the immediately preceding calendar day, multiplied by the sum of (i) 1, plus (ii)
the Daily Rate for such day; provided that on each Forward Price Reduction Date, the Price in effect on such date shall be the Forward Price otherwise in effect on such date, minus the Forward Price Reduction Amount for such Forward Price
Reduction Date.
		
	Initial Forward Price:	  	USD 50.7475 per Share
		
	Daily Rate:	  	For any day, (i)(A) USD-Federal Funds Rate for such day, minus (B) the Spread, divided by (ii) 360.
		
	USD-Federal Funds Rate:	  	For any day, the rate set forth for such day opposite the caption “Federal funds”, as such rate is displayed on the page “FEDL01” on the BLOOMBERG Professional Service, or
any successor page; provided that if no rate appears on any day on such page, the rate for the immediately preceding day on which a rate appears shall be used for such day.
		
	Spread:	  	0.90%
		
	Forward Price Reduction Date:	  	Each of August 6, 2009, November 5, 2009, February 24, 2010 and May 6, 2010.
		
	Forward Price Reduction Amount:	  	For each Forward Price Reduction Date, the Forward Price Reduction Amount set forth opposite such date on Schedule I.
		
	Shares:	  	Common stock, $0.10 par value per share, of Beckman Coulter, Inc. (the “Issuer”) (Exchange identifier: “BEC”).
		
	Exchange:	  	New York Stock Exchange
		
	Related Exchange(s):	  	All Exchanges
		
	Clearance System:	  	DTC
		
	Calculation Agent:	  	Party A. The Calculation Agent shall provide Party B with a schedule of all calculations, adjustments and determinations in reasonable detail and in a timely manner , it being understood that
the Calculation Agent shall not be obligated to disclose any proprietary models used by it for such calculations, adjustments or determinations.
		
	Determining Party:	  	Party A

  

 2 

			
	Exchange Act:	  	The Securities Exchange Act of 1934, as amended from time to time.
		
	Securities Act:	  	The Securities Act of 1933, as amended from time to time.

 SETTLEMENT TERMS: 
  

			
	Settlement Date:	  	Subject to the provisions under “Acceleration Events” and “Termination Settlement” below, any Scheduled Trading Day following the Effective Date and up to, and including, the
Maturity Date, as designated by Party B in a written notice (a “Settlement Notice”) that satisfies the Settlement Notice Requirements and that (a) if related to any Cash Settlement or Net Share Settlement, is delivered to Party A at least
100 calendar days prior to such Settlement Date (the period from the giving of any such notice to the Settlement Date being the “Cash/Net Share Notice Period”) and (b) if related to Physical Settlement may be delivered at any time and
settlement will be completed as promptly as practicable thereafter; provided that (i) subject to clause (ii) below, the Maturity Date shall be a Settlement Date if on such date the Base Shares is greater than zero; (ii) if Cash Settlement or
Net Share Settlement applies, any Settlement Date shall (A) if Party A is unable to completely unwind its hedge during the Unwind Period due to the restrictions of Rule 10b-18 under the Exchange Act, (B) if Party A is unable to completely unwind its
hedge during the Unwind Period due to the existence of any Suspension Day or Disrupted Day, or (C) if Party A, in its commercially reasonable judgment, is otherwise unable to unwind its hedge during the Unwind Period, in each case, be deferred until
the third Scheduled Trading Day following the date on which Party A is able to completely unwind its hedge; provided that such deferral shall not extend beyond the 80th calendar day after the Settlement Date designated in the Settlement
Notice (or, if earlier, the Maturity Date), such 80th calendar day (or the Maturity Date, as the case may be) being a Settlement Date to which (x) Cash Settlement or Net Share Settlement, as applicable, will apply with respect to the portion of such
Settlement Shares as to which Party A reasonably determines that it has unwound its hedge during the Unwind Period, and (y) Physical Settlement will apply with respect to the remainder of such Settlement Shares; and (iii) no more than three
Settlement Dates other than the Maturity Date may be designated by Party B; provided further that if Party A shall fully unwind its hedge during an Unwind Period by a date that is more than three Scheduled Trading Days prior to a Settlement
Date specified above, Party A may, by written notice to Party B, specify any Scheduled Trading Day prior to such original Settlement Date as the Settlement Date; provided further that if any Settlement Date specified above is not a Scheduled
Trading Day, the Settlement Date shall instead be the next Scheduled Trading Day.
		
	Settlement Shares:	  	Subject to the provisions under “Acceleration Events” and “Termination Settlement” below, with respect to any Settlement Date, a number of Shares, not to exceed the Base
Shares, designated as such by Party B in the related Settlement Notice;

  

 3 

			
		 	provided that, on the Maturity Date, the number of Settlement Shares shall be equal to the Base Shares on such date; provided further that if a Settlement Date has been specified
for a number of Shares equal to the Base Shares on or prior to the Maturity Date and such Settlement Date has been deferred as described above until a date later than the original Maturity Date, the number of Settlement Shares on the original
Maturity Date shall be zero.
		
	Settlement:	 	Subject to the provisions under “Settlement Date” above and “Acceleration Events” and “Termination Settlement” below, Physical, Cash, or Net Share, at the election
of Party B as set forth in a Settlement Notice that satisfies the Settlement Notice Requirements; provided that Physical Settlement shall apply if no Settlement Method is selected.
		
	Settlement Notice Requirements:	 	Notwithstanding any other provisions hereof, a Settlement Notice delivered by Party B that specifies Cash Settlement or Net Share Settlement will not be effective to establish a Settlement Date
or require Cash Settlement or Net Share Settlement (as applicable) unless (1) Party B represents in such Settlement Notice that it is Solvent (as defined below) on such date and (2) Party B delivers to Party A with such Settlement Notice a
representation signed by Party B substantially in the following form: “As of the date of this Settlement Notice, Beckman Coulter, Inc. is not aware of any material nonpublic information concerning itself or the Shares, and is designating the
date contained herein as a Settlement Date in good faith and not as part of a plan or scheme to evade compliance with the federal securities laws.”
		
	Unwind Period:	 	 The period from, and including, the first Scheduled Trading Day following the date on which Party B elects Cash Settlement or Net Share Settlement in
respect of a Settlement Date through the third Scheduled Trading Day preceding such Settlement Date.
  
 In the case of Cash Settlement, Party A will be deemed to have completely unwound its hedge upon such time that Party A shall have acquired a number of Shares equal to the number of Settlement
Shares.

		
	Unwind Daily Share Amount:	 	On each Scheduled Trading Day during the Unwind Period, other than a Suspension Day or a Disrupted Day, Party A will, in accordance with the principles of best execution, purchase a number of
Shares equal to the lesser of (i) 100% of the applicable volume limitation of Rule 10b-18 for the Shares on such Scheduled Trading Day, without reference to any block purchases, (ii) 15% of the daily trading volume for the Shares on the Exchange on
such Scheduled Trading Day, and (iii) the number of Shares necessary to complete the purchases required to calculate the Cash Settlement Amount or the Net Share Settlement Shares, as the case may be.
		
	Physical Settlement:	 	On any Settlement Date in respect of which Physical Settlement applies, Party B shall deliver to Party A a number of Shares equal to the Settlement Shares for such Settlement Date, and Party A
shall deliver to Party B, by wire transfer of immediately available

  

 4 

			
		  	funds to an account designated by Party B, an amount in cash equal to the Physical Settlement Amount for such Settlement Date, on a delivery versus payment basis.
		
	Physical Settlement Amount:	  	For any Settlement Date in respect of which Physical Settlement applies, an amount in cash equal to the product of the Forward Price on such Settlement Date, and the number of Settlement
Shares for such Settlement Date.
		
	Cash Settlement:	  	On any Settlement Date in respect of which Cash Settlement applies, if the Cash Settlement Amount is a positive number, Party A will pay the Cash Settlement Amount to Party B. If the Cash
Settlement Amount is a negative number, Party B will pay the absolute value of the Cash Settlement Amount to Party A. Such amounts shall be paid on the Settlement Date.
		
	Cash Settlement Amount:	  	For any Settlement Date in respect of which Cash Settlement applies, an amount determined by the Calculation Agent equal to: (1) the product of (i) (A) the Forward Price as of the last day of
the applicable Unwind Period, minus (B) the weighted average price at which Party A is able to purchase Shares during the Unwind Period applicable to Cash Settlement to unwind its hedge in compliance with Rule 10b-18 under the Exchange Act as
if it applied to Party A during the Unwind Period, minus (C) USD 0.02, and (ii) the number of Settlement Shares for such Settlement Date.
		
	Net Share Settlement:	  	On any Settlement Date in respect of which Net Share Settlement applies, if the number of Net Share Settlement Shares is a (i) positive number, Party A shall deliver a number of Shares to Party
B equal to the Net Share Settlement Shares, and (ii) negative number, Party B shall deliver a number of Shares to Party A equal to the absolute value of the Net Share Settlement Shares; provided that if Party A determines in its good faith
judgment that it would be required to deliver Net Share Settlement Shares to Party B, Party A may elect to deliver a portion of such Net Share Settlement Shares on one or more dates prior to the applicable Settlement Date.
		
	Net Share Settlement Shares:	  	Upon the commencement of an Unwind Period to which Net Share Settlement applies, the Calculation Agent shall calculate the Unwind Settlement Amount applicable to such Unwind Period. The
“Unwind Settlement Amount” shall equal (i) the Forward Price as of the last day of the applicable Unwind Period multiplied by (ii) the relevant number of Settlement Shares. On each Scheduled Trading Day during the Unwind Period, Party
A shall purchase a number of Shares, consistent with the “Unwind Daily Share Amount” provisions above. At the end of each day upon which such purchases have been made, the Unwind Settlement Amount shall be reduced by an amount equal
to the aggregate cost (including a commission of USD0.02 per Share) incurred by Party A to purchase Shares on such day. Party A shall continue purchasing Shares, consistent with the “Unwind Daily Share Amount” provisions above, until
the Unwind Settlement Amount has been reduced to zero (such number of Shares, the “Aggregate Unwind Shares”). For any Settlement

  

 5 

			
		  	Date in respect of which Net Share Settlement applies, the Net Share Settlement Shares shall be (A) the Aggregate Unwind Shares minus (B) the number of Settlement Shares for such
Settlement Date.
		
	Settlement Currency:	  	USD
		
	Failure to Deliver:	  	Applicable
	
	SUSPENSION OF CASH OR NET SHARE SETTLEMENT:
		
	Suspension Day:	  	Any day on which Party A determines based on the written advice of counsel that Cash or Net Share Settlement may violate applicable securities laws. Party A shall notify Party B if it receives
such written advice from its counsel.
		
	ADJUSTMENTS:	  	
		
	Method of Adjustment:	  	Calculation Agent Adjustment. Notwithstanding anything in the Equity Definitions to the contrary, the Calculation Agent may make an adjustment pursuant to Calculation Agent Adjustment to any one
or more of the Base Shares, the Forward Price and any other variable relevant to the settlement or payment terms of the Transaction.
		
	Additional Adjustment:	  	If, in Party A’s commercially reasonable judgment, the actual cost to Party A, over any one month period, of borrowing a number of Shares equal to the Base Amount to hedge its exposure to
the Transaction exceeds a weighted average rate equal to 25 basis points per annum, the Calculation Agent shall reduce the Forward Price in order to compensate Party A for the amount by which such cost exceeded a weighted average rate equal to 25
basis points per annum during such period. The Calculation Agent shall notify Party B prior to making any such adjustment to the Forward.
		
	EXTRAORDINARY EVENTS:	  	
		
	Extraordinary Events:	  	In lieu of the applicable provisions contained in Article 12 of the Equity Definitions, the consequences of any applicable Extraordinary Event shall be as specified in “Acceleration
Events” and “Termination Settlement” hereunder.
		
	Tender Offer:	  	Not applicable.
		
	ACCOUNT DETAILS:	  	
		
	Payments to Party A:	  	To be advised under separate cover or telephone confirmed prior to each Settlement Date.
		
	Payments to Party B:	  	To be advised under separate cover or telephone confirmed prior to each Settlement Date.
		
	Delivery of Shares to Party A:	  	To be advised

  

 6 

			
	Delivery of Shares to Party B:	  	To be advised

  

	3.	Other Provisions: 

 Conditions to Effectiveness:

 The effectiveness of this Confirmation on the Effective Date shall be subject to (i) the condition that the representations and
warranties of Party B contained in the Underwriting Agreement and any certificate delivered pursuant thereto by Party B be true and correct on the Effective Date as if made as of the Effective Date, (ii) the condition that Party B have
performed all of the obligations required to be performed by it under the Underwriting Agreement on or prior to the Effective Date, and (iii) the satisfaction of all of the conditions set forth in Section 6 of the Underwriting Agreement.
In addition, if Party A, in its sole judgment, is unable to borrow and deliver for sale a number of Shares equal to the Base Shares or if, in Party A’s sole judgment it would entail a stock loan cost of more than 200 basis points per annum with
respect to all or any portion of such Shares, the effectiveness of this Confirmation shall be limited to the number of Shares Party A may borrow at a cost of not more than 200 basis points per annum. 
 Additional Representations, Warranties and Agreements of Party B: Party B hereby represents and warrants to, and agrees with, Party A as of the
date hereof and on the Effective Date that: 
  

	 	(a)	Any Shares, when issued and delivered in accordance with the terms of the Transaction, will be duly authorized and validly issued, fully paid and nonassessable, and the issuance
thereof will not be subject to any preemptive or similar rights. 

  

	 	(b)	Party B has reserved and will keep available, free from preemptive rights, out of its authorized but unissued Shares, solely for the purpose of issuance upon settlement of the
Transaction as herein provided, the full number of Shares as shall then be issuable upon settlement of the Transaction. All Shares so issuable shall, upon such issuance, be accepted for listing or quotation on the Exchange. 

 

	 	(c)	The execution, delivery and performance by Party B of this Confirmation (including, without limitation, the issuance and delivery of Shares on any Settlement Date) and compliance by
Party B with its obligations hereunder has been duly authorized by all necessary corporate action and does not and will not result in any violation of the provisions of the articles of incorporation or by-laws of Party B or any subsidiary or any
applicable law, statute, rule, regulation, judgment, order, writ or decree of any government instrumentality or court, domestic or foreign, having jurisdiction over Party B or any subsidiary or any of their assets, properties or operations.

  

	 	(d)	No filing with, or authorization, approval, consent, license, order, registration, qualification or decree of, any court or governmental authority or agency is necessary or required
for the execution, delivery and performance by Party B of this Confirmation and the consummation of the Transaction (including, without limitation, the issuance and delivery of Shares on any Settlement Date) except (i) such as have been
obtained under the Securities Act and (ii) as may be required to be obtained under state securities laws. 

  

	 	(e)	Party B agrees not to repurchase any Shares if, immediately following such repurchase, the Base Shares would be equal to or greater than 9.0% of the number of then-outstanding
Shares. 

  

	 	(f)	 Party B is as of the date hereof, and after giving effect to the transactions contemplated hereby will be, Solvent. As used in this paragraph, the term
“Solvent” means, with respect to a particular date, that on such date (A) the present fair market value (or present fair saleable value) of the assets of Party B is not less than the total amount required to pay the liabilities of
Party B on its total existing debts and liabilities (including contingent liabilities) as they become absolute and matured, (B) Party B is able to realize upon its assets and pay its debts and other liabilities, contingent obligations and
commitments as they mature and become due in the normal course of business, (C) assuming consummation of the transactions as contemplated by this Agreement, Party B is not incurring debts or liabilities beyond its ability to pay as such debts
and liabilities mature, (D) Party B is not engaged in any business or transaction, and does not propose to engage 

  

 7 

	 	 
in any business or transaction, for which its property would constitute unreasonably small capital after giving due consideration to the prevailing practice
in the industry in which Party B is engaged and (E) Party B is not a defendant in any civil action that could reasonably be expected to result in a judgment that Party B is or would become unable to satisfy. 

  

	 	(g)	Neither Party B nor any “affiliated purchaser” (as such term is defined in Rule 10b-18 of the Exchange Act) of Party B shall take, and Party B shall not cause any
“affiliated purchaser” of Party B to take, or refrain from taking, any action that would cause any purchases of Shares by Party A during any Unwind Period relating to any Cash Settlement or Net Share Settlement of the Transaction not to
comply with Rule 10b-18 under the Exchange Act; provided, that this Section 3(g) shall not apply to the following: (i) privately negotiated purchases of Shares (or any security convertible into or exchangeable for Shares);
(ii) purchases of Shares pursuant to exercises of stock options granted to former or current employees, officers, directors, or other affiliates of Issuer, including the withholding and/or purchase of Shares from holders of such options to
satisfy payment of the option exercise price and/or satisfy tax withholding requirements in connection with the exercise of such options; (iii) purchases of Shares from holders of performance shares or units or restricted shares or units to
satisfy tax withholding requirements in connection with vesting; (iv) the conversion or exchange by holders of any convertible or exchangeable securities of the Issuer previously issued; (v) purchases of Shares effected by or for a plan by
an agent independent of the Issuer that satisfy the requirements of Rule 10b-18(a)(13)(ii); or (vi) subject to the provisions set forth below under the caption “Other Forward,” the settlement of the Other Forward (as defined below).

  

	 	(h)	Party B will not engage in any “distribution” (as defined in Regulation M under the Exchange Act) with respect to the Shares during any Unwind Period.

  

	 	(i)	Party B is an “eligible contract participant” (as such term is defined in Section 1a(12) of the Commodity Exchange Act, as amended) and the Transaction was subject to
individual negotiation. 

  

	 	(j)	In addition to any other requirements set forth herein, Party B agrees not to elect Cash Settlement or Net Share Settlement if such settlement would result in a violation of the
U.S. federal securities laws or any other federal or state law or regulation applicable to Party B. 

  

	 	(k)	The representations and warranties of Party B contained in the Underwriting Agreement and any certificate delivered pursuant thereto by Party B shall be true and correct on the
Effective Date as if made as of the Effective Date. 

  

	 	(l)	Party B is not and has not been the subject of any civil proceeding of a judicial or administrative body of competent jurisdiction that could reasonably be expected to impair
materially Party B’s ability to perform its obligations hereunder. 

  

	 	(m)	Party B will, by the next succeeding New York Business Day, notify Party A, and concurrently publicly announce, upon obtaining knowledge of the occurrence of any event that would
constitute an Event of Default or a Potential Adjustment Event. 

 Tax Representations: 
  

	 	(a)	 Party A and Party B Payer Tax Representations. For the purpose of Section 3(e) of the Agreement, each of Party A and Party B makes the following
representation: It is not required by any applicable law, as modified by the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to make any deduction or withholding for or on account of any Tax from any payment
(other than interest under Section 2(e), 6(d)(ii) or 6(e) of the Agreement) to be made by it to the other party under the Agreement. In making this representation, it may rely on: (i) the accuracy of any representation made by the other
party pursuant to Section 3(f) of the Agreement; (ii) the satisfaction of the agreement of the other party contained in Section 4(a)(i) or 4(a)(iii) of the Agreement and the accuracy and effectiveness of any document provided by the
other party pursuant to Section 4(a)(i) or 4(a)(iii) of the Agreement; and (iii) the satisfaction of the agreement of the other party contained in Section 4(d) of the Agreement, provided that it shall 

  

 8 

	 	 
not be a breach of this representation where reliance is placed on clause (ii) and the other party does not deliver a form or document under
Section 4(a)(iii) by reason of material prejudice to its legal or commercial position. 

  

	 	(b)	Party A Payee Tax Representations. For the purpose of Section 3(f), Party A makes the following representation(s): It is fully eligible for the benefits of the “Business
Profits” provision, the “Interest” provision or the “Other Income” provision (if any) of the Specified Treaty with respect to any payment described in such provisions and received or to be received by it in connection with
the Agreement and no such payment is attributable to a trade or business carried on by it through a permanent establishment in the Specified Jurisdiction. Each payment received or to be received by it in connection with the Agreement qualifies as
“Business Profits,” “Interest” or “Other Income” under the Specified Treaty. 

 If such
representation applies, then: 
 “Specified Treaty” means, with respect to a Transaction, the tax treaty applicable between the
United States of America and the United Kingdom. 
 “Specified Jurisdiction” means the United States of America. 
 Party A is a ‘non-U.S. branch of a foreign person’ as that term is used in section 1.1441-4(a)(3)(ii) of the U.S. Treasury Regulations (the
“Regulations”), and Party A is a ‘foreign person’ as that term is used in section 1.6041-4(a)(4) of the Regulations. 
  

	 	(c)	Party B Payee Tax Representations. For the purpose of Section 3(f), Party B makes the following representations: It is a corporation and a United States person with the meaning
of the Internal Revenue code of 1986, as amended. 

 Agreement to Deliver Documents: 
 For the purpose of Section 4(a)(i) and (ii) of the Agreement, each party agrees to deliver the following documents as applicable: 
 Tax forms, document or certificates to be delivered are: 
  

					
	 Party required to delivery document
	  	 Form/Document/Certificate
	  	 Date by which to be delivered

	Party A and Party B	  	Any form or document accurately completed and in a manner reasonably satisfactory to the other party that may be required or reasonably requested in order to allow the other party to make a
payment under a Transaction without any deduction or withholding for or on account of any Tax or with deduction or withholding at a reduced rate, promptly upon reasonable demand by the other party, including, without limitation, an executed United
States Internal Revenue Service Form W-9 or Form W-8BEN and/or W-8ECI (or any successor thereto).	  	Upon execution of the Agreement, and thereafter promptly upon reasonable demand by the other Party.

  

 9 

 Covenant of Party B: 
 The parties acknowledge and agree that any Shares delivered by Party B to Party A on any Settlement Date will be newly issued Shares and when delivered by Party A (or an affiliate of Party A) to securities lenders
from whom Party A (or an affiliate of Party A) borrowed Shares in connection with hedging its exposure to the Transaction will be freely saleable without further registration or other restrictions under the Securities Act in the hands of those
securities lenders, irrespective of whether such stock loan is effected by Party A or an affiliate of Party A to hedge Party A’s exposure under the Transaction. Accordingly, Party B agrees that the Settlement Shares that it delivers to Party A
on each Settlement Date will not bear a restrictive legend and that such Settlement Shares will be deposited in, and the delivery thereof shall be effected through the facilities of, the Clearance System. 
 Covenants of Party A: 
  

	 	(a)	Party A shall use any Settlement Shares delivered by Party B to Party A to return to securities lenders to close out borrowings created by Party A (or an affiliate of Party A) in
connection with its hedging activities related to exposure under the Transaction. 

  

	 	(b)	In connection with bids and purchases of Shares in connection with any Cash Settlement or Net Share Settlement of the Transaction, Party A shall use commercially reasonable efforts
to comply, or cause compliance, with the provisions of Rule 10b-18 under the Exchange Act, as if such provisions were applicable to such purchases. 

  

	 	(c)	Party A shall use its commercially reasonable efforts to maintain its hedge of its exposure to the Transaction by borrowing sufficient number of Shares from lenders at a stock loan
cost not to exceed 25 basis points per annum. 

 Acceleration Events: An Acceleration Event shall occur if: 

 

	 	(a)	Stock Borrow Events. Notwithstanding any other provision hereof, if in its commercially reasonable judgment Party A is unable to hedge Party A’s exposure to the
Transaction (a “Stock Borrow Event”) because (i) of the lack of sufficient Shares being made available for Share borrowing by lenders or (ii) it would incur a stock loan cost of more than 200 basis points per annum, Party A shall
have the right to designate any Scheduled Trading Day to be a Settlement Date on at least three Scheduled Trading Days’ notice, and to select the number of Settlement Shares for such Settlement Date; provided that the number of
Settlement Shares for any Settlement Date so designated by Party A shall not exceed the number of Shares as to which such inability to, or cost limitation with respect to, borrow exists; or 

  

	 	(b)	Share Price Reduction. Notwithstanding any other provision hereof, if the average of the closing bid and offer prices or, if available, the closing sale price per Share on
the Exchange for the regular trading session on any Scheduled Trading Day occurring after the Trade Date is less than or equal to USD 20.00, Party A shall have the right to designate any Scheduled Trading Day to be a Settlement Date on at least ten
Scheduled Trading Days’ notice, and to select the number of Settlement Shares for such Settlement Date; or 

  

	 	(c)	 Dividends and Other Distributions. Notwithstanding any other provision hereof, if on any day occurring after the Trade Date Party B declares a distribution,
issue or dividend to existing holders of the Shares of (i) any cash dividend to the extent all cash dividends having an ex-dividend date during the period from, and including, any Forward Price Reduction Date (with each of the Trade Date and
the Maturity Date being a Forward Price Reduction Date for purposes of this clause (c) only) to, but excluding, the next subsequent Forward Price Reduction Date exceeds, on a per Share basis, the Forward Price Reduction Amount set forth
opposite the first date of any such period on Schedule I (such excess of all cash dividends over such Forward Price Reduction Amount, an “Excess Cash Dividend”) or (ii) share capital or securities of another issuer acquired or owned
(directly or indirectly) by Party B as a result of a spin-off or other similar transaction or (iii) any other type of securities (other than Shares), rights or warrants or other assets, which distribution, issue or dividend has a record date on
or prior to the final Settlement Date, then Party A shall have the right to designate any Scheduled Trading Day to be a 

  

 10 

	 	 
Settlement Date for the entire Transaction on at least three Scheduled Trading Day’s notice, and to select the number of Shares for such Settlement
Date; provided that no adjustment shall be made to the Forward Price in respect of any Excess Cash Dividend; or 

  

	 	(d)	ISDA Early Termination Date. Notwithstanding anything to the contrary herein, in the Agreement or in the Definitions, if Party A has the right to designate an Early
Termination Date pursuant to Section 6 of the Agreement (other than as a result of the occurrence of an event listed in Section 5(a)(vii) of the Agreement), Party A shall have the right to designate any Scheduled Trading Day to be a
Settlement Date for the entire Transaction on at least three Scheduled Trading Days’ notice; or 

  

	 	(e)	Merger Event. Notwithstanding any other provision hereof, if on any day occurring after the Trade Date the board of directors of Party B votes to approve, or there is a
public announcement by the Company of, in either case any action that, if consummated, would constitute a Merger Event (as defined in the Equity Definitions), Party B shall notify Party A of any such vote or announcement within one Scheduled Trading
Day (and, in the case of any such vote, Party B also covenants and agrees to publicly announce the occurrence of such vote within one Scheduled Trading Day thereof). Thereafter, Party A shall have the right to designate any Scheduled Trading Day to
be a Settlement Date for the entire Transaction on at least three Scheduled Trading Days’ notice; or 

  

	 	(f)	Other Events. Notwithstanding anything to the contrary herein, in the Agreement or in the Equity Definitions, if a Nationalization, Delisting (as provided further in the next
sentence) or Change in Law (other than as specified in clause (Y) of the definition thereof) occurs, Party A shall have the right to designate any Scheduled Trading Day to be a Settlement Date for the entire Transaction on at least three
Scheduled Trading Days’ notice and Party A shall be the Determining Party. In addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also constitute a Delisting if the Exchange is located in the United States
and the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, the NASDAQ Global Select Market or the NASDAQ Global Market (or their respective successors); if the Shares are immediately re-listed,
re-traded or re-quoted on any such exchange or quotation system, such exchange or quotation system shall be deemed to be the Exchange. For the avoidance of doubt, Physical Settlement shall apply in the case of any Settlement Date designated in
respect of a Nationalization or Delisting. 

 Termination Settlement: 
 If a Settlement Date is specified following an Acceleration Event (a “Termination Settlement Date”), Physical Settlement shall apply with
respect to such Termination Settlement Date as set forth above, and subject to the provisions described under “Limit on Beneficial Ownership” below. If, upon designation of a Termination Settlement Date by Party A, Party B fails to deliver
the Settlement Shares relating to such Termination Settlement Date when due or otherwise fails to perform its obligations in connection therewith, it shall be an Event of Default with respect to Party B and Section 6 of the Agreement shall
apply. If an Acceleration Event occurs during an Unwind Period relating to a number of Settlement Shares to which Cash Settlement or Net Share Settlement applies, then on the Termination Settlement Date relating to such Acceleration Event,
notwithstanding any election to the contrary by Party B, Cash Settlement or Net Share Settlement (as previously elected by Party B) shall apply to the portion of the Settlement Shares relating to such Unwind Period as to which Party A has unwound
its hedge, and Physical Settlement shall apply in respect of (x) the remainder (if any) of such Settlement Shares and (y) the Settlement Shares designated by Party A in respect of such Termination Settlement Date. 
 Private Placement Procedures: 
 If
Party B is unable to comply with the provisions of “Covenant of Party B” above because of a change in law or a change in the policy of the Securities and Exchange Commission or its staff, or Party A 

  

 11 

 
otherwise determines that in its reasonable opinion, based on the advice of counsel, any Settlement Shares to be delivered to Party A by Party B may not be
freely returned by Party A or its affiliates to securities lenders as described under “Covenant of Party B” above, then delivery of any such Settlement Shares (the “Restricted Shares”) shall be effected pursuant to Annex A
hereto, unless waived by Party A. 
 Rule 10b5-1: 
 It is the intent of Party A and Party B that the purchase of Shares by Party A during any Unwind Period comply with the requirements of Rule 10b5-1(c)(i)(B) of the Exchange Act and that this Confirmation shall be
interpreted to comply with the requirements of Rule 10b5-1(c). 
 Party B acknowledges that, except as otherwise provided herein,
(i) during any Unwind Period Party B does not have, and shall not attempt to exercise, any influence over how, when or whether to effect purchases of Shares by Party A (or its agent or affiliate) in connection with this Confirmation and
(ii) Party B is entering into the Agreement and this Confirmation in good faith and not as part of a plan or scheme to evade compliance with federal securities laws including, without limitation, Rule 10b-5 promulgated under the Exchange Act.

 Party B hereby agrees with Party A that during any Unwind Period Party B shall not communicate, directly or indirectly, any material
non-public information (within the meaning of any applicable securities laws) to any Equity Personnel (as defined below). “Equity Personnel” means any employee on the trading side of Morgan Stanley & Co. Incorporated and does not
include Anthony Cicia. 
 Interpretive Letter: 
 The parties intend for this Confirmation to constitute a “Contract” as described in the letter dated October 6, 2003 submitted by Robert W. Reeder and Leslie N. Silverman to Paula Dubberly of the staff
of the Securities and Exchange Commission (the “Staff”) to which the Staff responded in an interpretive letter dated October 9, 2003. 
 Maximum Share Delivery: 
 Notwithstanding any other provision of this Confirmation, in no event will
Party B be required to deliver on any Settlement Date, whether pursuant to Physical Settlement, Net Share Settlement, Termination Settlement or Private Placement Settlement, more than 4,500,000 Shares to Party A. 
 Assignment: 
 Party A may assign or
transfer any of its rights or delegate any of its duties hereunder to any affiliate of Party A or any entity organized or sponsored by Party A without the prior written consent of Party B; provided that such assignee’s obligations shall
be guaranteed by Morgan Stanley. Notwithstanding any other provision of this Confirmation to the contrary requiring or allowing Party A to purchase or receive any Shares from Party B, Party A may designate any of its affiliates to purchase or
receive such Shares or otherwise to perform Party A’s obligations in respect of the Transaction and any such designee may assume such obligations, and Party A shall be discharged of its obligations to Party B to the extent of any such
performance. 
 Guarantee of Party A 
 Morgan Stanley shall guarantee all obligations of Party A under this Confirmation and shall execute a Guarantee in the form attached as Annex B in favor of Party B. The Guarantee shall be a Credit Support Document.

  

 12 

 Matters Relating to Agent: 
  

	 	(a)	As a broker-dealer registered with the U.S. Securities and Exchange Commission, Morgan Stanley & Co. Incorporated in its capacity as agent (the “Agent”), will be
responsible for (i) effecting the Transaction, (ii) issuing all required confirmations and statements to Party A and Party B and (iii) maintaining books and records relating to the Transaction. 

  

	 	(b)	Morgan Stanley & Co. Incorporated shall act as “agent” for Party A and Party B within the meaning of Rule 15a-6 under the Securities Exchange Act of 1934 in
connection with the Transaction. 

  

	 	(c)	The Agent, in its capacity as such, shall have no responsibility or liability (including, without limitation, by way of guarantee, endorsement or otherwise) to Party A or Party B or
otherwise in respect of the Transaction, including, without limitation, in respect of the failure of Party A or Party B to pay or perform under this Confirmation, except for its gross negligence or willful misconduct in performing its duties as
Agent hereunder. 

  

	 	(d)	Each of Party A and Party B agree to proceed solely against the other to collect or recover any securities or monies owing to Party A or Party B, as the case may be, in connection
with or as a result of the Transaction. 

  

	 	(e)	The Agent will be Party A’s agent for service of process for the purpose of Section 13(c) of the Agreement. 

 Indemnity: 
 Party B agrees to
indemnify Party A and its affiliates and their respective directors, officers, agents and controlling parties (Party A and each such affiliate or person being an “Indemnified Party”) from and against any and all losses, claims, damages and
liabilities, joint and several, incurred by or asserted against such Indemnified Party arising out of, in connection with, or relating to, any breach of any covenant or representation made by Party B in this Confirmation or the Agreement and will
reimburse any Indemnified Party for all reasonable expenses (including reasonable legal fees and expenses) as they are incurred in connection with the investigation of, preparation for, or defense of any pending or threatened claim or any action or
proceeding arising therefrom, whether or not such Indemnified Party is a party thereto. Party B will not be liable under this Indemnity paragraph to the extent that any loss, claim, damage, liability or expense is found in a final and nonappealable
judgment by a court of competent jurisdiction to have resulted from Party A’s gross negligence, fraud, bad faith and/or willful misconduct. 
 Miscellaneous: 
  

			
	Non-Reliance:	 	Applicable
		
	Additional Acknowledgements:	 	Applicable
		
	Agreements and Acknowledgments
Regarding Hedging Activities:	 	Applicable

  

	4.	The Agreement is further supplemented by the following provisions: 

 Status of Claims in Bankruptcy: 
  

 13 

 Party A acknowledges and agrees that this confirmation is not intended to convey to Party A rights with
respect to the transactions contemplated hereby that are senior to the claims of common stockholders in any U.S. bankruptcy proceedings of Party B; provided, however, that nothing herein shall limit or shall be deemed to limit Party A’s
right to pursue remedies in the event of a breach by Party B of its obligations and agreements with respect to this Confirmation and the Agreement; and provided further, that nothing herein shall limit or shall be deemed to limit Party
A’s rights in respect of any transaction other than the Transaction. 
 Agreement Regarding Set-off and Collateral: 

Notwithstanding Section 6(f) or any other provision of the Agreement or any other agreement between the parties to the contrary, the obligations
of Party B hereunder are not secured by any collateral. Obligations under the Transaction shall not be set off against any other obligations of the parties, whether arising under the Agreement, this Confirmation, under any other agreement between
the parties hereto, by operation of law or otherwise, and no other obligations of the parties shall be set off against obligations under the Transaction, whether arising under the Agreement, this Confirmation, under any other agreement between the
parties hereto, by operation of law or otherwise, and each party hereby waives any such right of setoff. In calculating any amounts under Section 6(e) of the Agreement, notwithstanding anything to the contrary in the Agreement,
(a) separate amounts shall be calculated as set forth in such Section 6(e) with respect to (i) the Transaction and (ii) all other Transactions, and (b) such separate amounts shall be payable pursuant to Section 6(d)(ii)
of the Agreement. 
 Bankruptcy: 
 Notwithstanding anything to the contrary herein, in the Agreement or in the Equity Definitions, upon the occurrence of an Insolvency, Insolvency Filing of Party B or an Event of Default of the type described in Section 5(a)(vii) of the
Agreement (a “Bankruptcy”) with respect to Party B, the Transaction shall automatically terminate on the date of such occurrence without further liability of either party under this Confirmation to the other party (except for any liability
in respect of any breach of representation or covenant by a party under this Confirmation prior to the date of such Insolvency, Insolvency Filing or Bankruptcy). 
 Limit on Beneficial Ownership: 
 Notwithstanding any other provisions hereof, Party A shall not be
entitled to take delivery of any Shares deliverable hereunder (whether in connection with the purchase of Shares on any Settlement Date or any Termination Settlement Date, any Private Placement Settlement or otherwise) to the extent (but only to the
extent) that, after such receipt of any Shares hereunder, Party A and each person subject to aggregation of Shares with Party A under Section 13 or Section 16 of the Exchange Act and rules promulgated thereunder (the “Party A
Group”) would directly or indirectly beneficially own (as such term is defined for purposes of Section 13 or Section 16 of the Exchange Act and rules promulgated thereunder) in excess of 9.0% of the then outstanding Shares (the
“Threshold Number of Shares”). Any purported delivery hereunder shall be void and have no effect to the extent (but only to the extent) that, after such delivery, the Party A Group would directly or indirectly so beneficially own in excess
of the Threshold Number of Shares. If any delivery owed to Party A hereunder is not made, in whole or in part, as a result of this provision, Party B’s obligation to make such delivery shall not be extinguished and Party B shall make such
delivery as promptly as practicable after, but in no event later than one Clearance System Business Day after, Party A gives notice to Party B that, after such delivery, the Party A Group would not directly or indirectly so beneficially own in
excess of the Threshold Number of Shares. 
 In addition, notwithstanding anything herein to the contrary, if any delivery owed to Party A
hereunder is not made, in whole or in part, as a result of the immediately preceding paragraph, Party A shall be permitted to make any payment due in respect of such Shares to Party B in two or more tranches that 

  

 14 

 
correspond in amount to the number of Shares delivered by Party B to Party A pursuant to the immediately preceding paragraph. 
 If Net Share Settlement would result in the Party A Group directly or indirectly beneficially owning (as such term is defined for purposes of
Section 13 or Section 16 of the Exchange Act and rules promulgated thereunder) in excess of 9.0% of the then outstanding Shares in connection with closing out its hedge position, Party A would be allowed to partially settle the Transaction
based on its purchase of that amount of Shares, and then to purchase the amount or amounts of additional Shares necessary to settle the remainder of the Transaction, and to make the associated deliveries at such times as determined by the
Calculation Agent. 
 Other Forward: 
 Party A acknowledges that Party B has entered into two substantially identical forward transactions for its Shares on the date hereof (the “Other Forwards”) with an affiliate of Goldman, Sachs & Co.
Party A and Party B agree that if Party B designates a Settlement Date with respect to either of the Other Forwards and for which Cash Settlement or Net Share Settlement is applicable, and the resulting Unwind Period for such Other Forward coincides
for any period of time with an Unwind Period for the Transaction (the “Overlap Unwind Period”), Party B shall notify Party A prior to the commencement of such Overlap Unwind Period, and Party A shall only be permitted to purchase Shares to
unwind its hedge in respect of the Transaction on every other Exchange Business Day that is not a Suspension Day during such Overlap Unwind Period, commencing on the first day of such Overlap Unwind Period; provided that if such first day of
such Overlap Unwind Period is a day on which Party A is contractually prohibited from purchasing Shares to unwind its hedge in respect of any other transaction pursuant to any provision substantially similar to the provision immediately preceding
this proviso, then Party A shall only be permitted to purchase Shares to unwind its hedge in respect of the Transaction on every other Exchange Business Day during such Overlap Unwind Period, commencing on the second day of such Overlap Unwind
Period. 
 Severability: 
 If any term, provision, covenant or condition of this Confirmation, or the application thereof to any party or circumstance, shall be held to be invalid or unenforceable in whole or in part for any reason, the remaining terms, provisions,
covenants, and conditions hereof shall continue in full force and effect as if this Confirmation had been executed with the invalid or unenforceable provision eliminated, so long as this Confirmation as so modified continues to express, without
material change, the original intentions of the parties as to the subject matter of this Confirmation and the deletion of such portion of this Confirmation will not substantially impair the respective benefits or expectations of parties to this
Agreement; provided, however, that this severability provision shall not be applicable if any provision of Section 2, 5, 6 or 13 of the Agreement (or any definition or provision in Section 14 to the extent that it relates to, or is
used in or in connection with any such Section) shall be so held to be invalid or unenforceable. 
 Miscellaneous: 
  

	 	(a)	Addresses for Notices. For the purpose of Section 12(a) of the Agreement: 

  

					
	Address for notices or communications to Party A:
		
	 Address:
	  	Morgan Stanley & Co. International plc
		  	c/o Morgan Stanley & Co. Incorporated
		  	1585 Broadway
		  	New York, NY 10036-8293
			
		  	Attention:	  	Angela Proske
		  	Telephone Number:	  	212-537-1572

  

 15 

					
		  	Facsimile Number:	  	212-507-0483
	
	Address for notices or communications to Party B:
		
	 Address:
	  	Beckman Coulter, Inc.
		  	4300 N. Harbor Boulevard,
		  	Fullerton, California 92834-3100
			
		  	Attention:	  	General Counsel
		  	Telephone Number:	  	714-773-6955
		  	Facsimile Number:	  	713-773-7936

  

	 	(b)	Waiver of Right to Trial by Jury. Each party waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of any suit, action or
proceeding relating to this Confirmation or any Agreement. Each party (i) certifies that no representative, agent or attorney of the other party has represented, expressly or otherwise, that such other party would not, in the event of such
a suit action or proceeding, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other party have been induced to enter into this Confirmation by, among other things, the mutual waivers and certifications in this Section.

  

	 	(c)	Exclusive Jurisdiction. Section 13(b) of the Agreement is hereby amended by (i) deleting the words “non-exclusive” in Section 13(b)(i)(2) and replacing them
with the word “exclusive”, and (ii) inserting after the word “law” in Section 13(b)(iii) the words “and subject to Section 13(b)(i)(2).” 

  

 16 

 Please confirm that the foregoing correctly sets forth the terms of our agreement by signing and returning this
Confirmation. 
  

			
	Yours faithfully,
	
	Morgan Stanley & Co. International plc
		
	By:	 	 /s/ Rajul Patel

	Name:	 	 Rajul Patel

	Title:	 	Executive Director
	
	Morgan Stanley & Co. Incorporated, as Agent
		
	By:	 	 /s/ John D. Tyree

	Name:	 	John D. Tyree
	Title:	 	Managing Director

 Confirmed as of the date first written above: 
  

			
	Beckman Coulter, Inc.
		
	By:	 	 /s/ Charles P. Slacik

	Name:	 	Charles P. Slacik
	Title:	 	Vice President and Chief Financial Officer

 SCHEDULE I 
  

			
	Forward Price Reduction Date	  	Forward Price Reduction Amount
	Trade Date	  	USD 0.00
	August 6, 2009	  	USD 0.17
	November 5, 2009	  	USD 0.18
	February 24, 2010	  	USD 0.18
	May 6, 2010	  	USD 0.18

  

 S-1 

 ANNEX A 
 PRIVATE PLACEMENT PROCEDURES 
  

	(i)	If Party B delivers the Restricted Shares pursuant to this clause (i) (a “Private Placement Settlement”), then delivery of Restricted Shares by Party B shall be
effected in customary private placement procedures with respect to such Restricted Shares reasonably acceptable to Party A; provided that if, on or before the date that a Private Placement Settlement would occur, Party B has taken, or caused
to be taken, any action that would make unavailable either the exemption pursuant to Section 4(2) of the Securities Act for the sale by Party B to Party A (or any affiliate designated by Party A) of the Restricted Shares or the exemption
pursuant to Section 4(1) or Section 4(3) of the Securities Act for resales of the Restricted Shares by Party A (or any such affiliate of Party A) or Party B fails to deliver the Restricted Shares when due or otherwise fails to perform
obligations within its control in respect of a Private Placement Settlement, it shall be an Event of Default with respect to Party B and Section 6 of the Agreement shall apply. The Private Placement Settlement of such Restricted Shares shall
include customary representations, covenants, blue sky and other governmental filings and/or registrations, indemnities to Party A, due diligence rights (for Party A or any designated buyer of the Restricted Shares by Party A), opinions and
certificates, auditors “comfort letters” and such other documentation as is customary for private placement agreements, all reasonably acceptable to Party A. In the case of a Private Placement Settlement, Party A shall, in its good faith
discretion, adjust the terms of the Transaction, including (but not limited to) the Forward Price and the number of Restricted Shares to be delivered to Party A hereunder, in a commercially reasonable manner to reflect the fact that such Restricted
Shares may not be freely returned to securities lenders by Party A and may only be saleable by Party A at a discount to reflect the lack of liquidity in Restricted Shares. Notwithstanding the Agreement or this Confirmation, the date of delivery of
such Restricted Shares shall be the Clearance System Business Day following notice by Party A to Party B of the number of Restricted Shares to be delivered pursuant to this clause (i). For the avoidance of doubt, delivery of Restricted Shares shall
be due as set forth in the previous sentence and not be due on the Settlement Date or Termination Settlement Date that would otherwise be applicable. 

  

	(ii)	If Party B delivers any Restricted Shares in respect of the Transaction, unless it is advised by counsel that any of the following actions would violate applicable securities laws
because of a change in law or a change in the policy of the Securities and Exchange Commission or its staff after the Trade Date, Party B agrees that (i) such Shares may be transferred by and among Party A and its affiliates and (ii) after
the minimum “holding period” within the meaning of Rule 144(d) under the Securities Act has elapsed after the applicable Settlement Date, Party B shall promptly remove, or cause the transfer agent for the Shares to remove, any legends
referring to any transfer restrictions from such Shares upon delivery by Party A (or such affiliate of Party A) to Party B or such transfer agent of seller’s and broker’s representation letters customarily delivered by Party A or its
affiliates in connection with resales of restricted securities pursuant to Rule 144 under the Securities Act, each without any further requirement for the delivery of any certificate, consent, agreement, opinion of counsel, notice or any other
document, any transfer tax stamps or payment of any other amount or any other action by Party A (or such affiliate of Party A). 

  

 A-1 

 ANNEX B 
 FORM OF MS GUARANTEE 
  

 B-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}]]