Document:

EX-4.3

 Exhibit 4.3 

QUOTIENT LIMITED 
 RESTRICTED
STOCK UNIT AWARD AGREEMENT 
 AGREEMENT by and between Quotient Limited, a public no par value limited liability company incorporated in
Jersey, Channel Islands (the “Company”) and Peter Buhler (the “Grantee”), dated as of the 5th day of February, 2020. 

WHEREAS, the Company maintains the Quotient Limited 2014 Stock Incentive Plan (the “Plan”) (capitalized terms used but not defined
herein shall have the respective meanings ascribed thereto by the Plan); 
 WHEREAS, the Restricted Stock Units (“RSUs”) awarded
hereunder are granted as an “inducement” award under NASDAQ Marketplace Rules outside of the Plan; and 
 WHEREAS, in connection
with the Grantee’s becoming an employee of the Company, the Administrator has determined that it is in the best interests of the Company and its Shareholders to grant RSUs to the Grantee subject to the terms and conditions set forth below. 

NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS: 
  

	 	1.	 Grant of RSUs. 

The Company hereby grants the Grantee 50,000 RSUs. The RSUs are subject to the terms and conditions of this Agreement. Although the RSUs and
Ordinary Shares issuable upon settlement of the RSUs are not issued pursuant to the Plan, the terms of the RSUs granted hereunder shall be governed in all respects as if issued under the Plan as currently in effect and as may be amended hereafter
from time to time. It is understood that the RSUs granted hereunder are not being granted pursuant to the Plan; provided, however, that, unless inconsistent with the express terms of this Agreement, this Agreement shall be construed and administered
in a manner consistent with the provisions of the Plan as if granted pursuant thereto, the terms of which are incorporated herein by reference (including, without limitation, any interpretations, amendments, rules and regulations promulgated by the
Committee from time to time pursuant to the Plan, which shall be deemed to apply to the RSUs granted hereunder without any further action of the Committee, unless expressly provided otherwise by the Committee). The Committee shall have final
authority to interpret and construe the Plan’s terms as they are incorporated herein by reference and deemed to apply to the RSUs granted hereunder, and this Agreement, and to make any and all determinations under them, and its decision shall
be binding and conclusive upon the Grantee and the Grantee’s beneficiary in respect of any questions arising under the Plan as incorporated herein by reference or this Agreement. The Grantee acknowledges that the Grantee has received a copy of
the Plan and has had an opportunity to review the Plan and agrees to be bound by all the terms and provisions of the Plan as incorporated herein by reference. For the avoidance of doubt, neither the RSUs granted hereunder nor any Ordinary Shares
issued upon settlement of such RSUs shall reduce the number of Ordinary Shares available for issuance pursuant to awards granted under the Plan. Where the context permits, references to the Company shall include any successor to the Company. 

  
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	 	2.	 Restrictions. 

The RSUs awarded pursuant to this Agreement shall be subject to the terms and conditions set forth in this Paragraph 2. 

 

	 	(a)	 Subject to clauses (b), (c) and (d) below, the period of restriction with respect to RSUs granted
hereunder (the “Restriction Period”) shall begin on the date hereof and lapse, if and as service continues, with respect to one-third of the RSUs granted hereunder, on each of the first three
anniversaries of the date hereof (each such anniversary, a “Vesting Date”). 

  

	 	(b)	 Subject to clauses (c) and (d) below, upon the Grantee’s Termination of Service for any reason during
the Restriction Period, all RSUs still subject to restriction shall thereupon, and with no further action, be forfeited by the Grantee, and neither the Grantee nor any of his or her successors, heirs, assigns, or personal representatives shall
thereafter have any further rights or interests in such RSUs. 

  

	 	(c)	 Termination of Service as an employee shall not be treated as a termination of employment for purposes of this
Paragraph 2 if the Grantee continues without interruption to serve thereafter as an officer or director of the Company or in such other capacity as determined by the Administrator (or if no Administrator is appointed, the Board), and the termination
of such successor service shall be treated as the applicable termination. 

  

	 	(d)	 For purposes of this Agreement, a “Termination of Service” shall mean the time when the
employee-employer relationship or directorship, or other service relationship, between the Grantee and the Company (or an Affiliated Company) is terminated for any reason, with or without Cause, including, but not limited to, any termination by
resignation, discharge, death or retirement. The Administrator, in its absolute discretion, shall determine the effects of all matters and questions relating to Termination of Service, including, but not limited to, the question of whether any
Termination of Service was for Cause and all questions of whether particular leaves of absence constitute Terminations of Service. For this purpose, the service relationship shall be treated as continuing intact while the Grantee is on military
leave, sick leave or other bona fide leave of absence (to be determined in the discretion of the Administrator). 

  

	 	3.	 Voting and Other Rights. 

The Grantee shall have no rights of a Shareholder (including the right to distributions or dividends), and will not be treated as an owner of
Ordinary Shares for tax purposes, except with respect to Ordinary Shares that have been issued. 
  

	 	4.	 Settlement. 

Each vested RSU shall be settled in one Ordinary Share on the applicable Vesting Date (either by delivering one or more certificates for such
Ordinary Share or by entering such Ordinary Share in book-entry form, as determined by the Company in its discretion). Such issuance shall constitute payment of the RSUs. References herein to issuances to the
Grantee shall include issuances to any beneficial owner or other person to whom (or to which) the Ordinary Shares are issued. The Company’s obligation to issue Ordinary Shares or otherwise make any payment with respect to vested RSUs is subject
to the condition precedent that the Grantee or other person entitled to receive any Ordinary Shares with respect to the vested RSUs deliver to the Company any representations or other documents or assurances required pursuant to Paragraph
5(k). The Grantee shall have no further rights with respect to any RSUs that are paid or that terminate pursuant to Paragraph 2. 

  
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	 	5.	 Miscellaneous. 

 

	 	(a)	 The value of an RSU may decrease depending upon the Fair Market Value of an Ordinary Share from time to time.
Neither the Company, the Administrator, nor any other associated party, shall be held liable for any decrease in the value of the RSUs. If the value of such RSUs decrease, there will be a decrease in the underlying value of what is distributed to
the Grantee under this Agreement. 

  

	 	(b)	 With respect to this Agreement, (i) the RSUs are bookkeeping entries, (ii) the obligations of the
Company under this Agreement are unsecured and constitute a commitment by the Company to make benefit payments in the future, (iii) to the extent that any person acquires a right to receive payments from the Company under this Agreement, such
right shall be no greater than the right of any general unsecured creditor of the Company, (iv) all payments under this Agreement (including distributions of Ordinary Shares) shall be paid from the general funds of the Company and (v) no
special or separate fund shall be established or other segregation of assets made to assure such payments (except that the Company may in its discretion establish a bookkeeping reserve to meet its obligations under this Agreement). The RSUs shall be
used solely as a device for the determination of the payment to eventually be made to the Grantee if the RSUs vest pursuant to Paragraph 2. The award of RSUs is intended to be an arrangement that is unfunded for tax purposes and for purposes of
Title I of the Employee Retirement Income Security Act of 1974, as amended. 

  

	 	(c)	 Governing Law. This Agreement shall be governed by the laws of Jersey without reference to the
principles of conflicts of law. 

  

	 	(d)	 The Administrator may construe and interpret this Agreement and establish, amend and revoke such rules,
regulations and procedures for the administration of this Agreement as it deems appropriate. In this connection, the Administrator may correct any defect or supply any omission, or reconcile any inconsistency in this Agreement or in any related
agreements, in the manner and to the extent it shall deem necessary or expedient to make this Agreement fully effective. All decisions and determinations by the Administrator in the exercise of this power shall be final and binding upon the Company
and the Grantee. 

  

	 	(e)	 All notices hereunder shall be in writing, and if to the Company or the Administrator, shall be delivered to
the Committee or mailed to its principal office, addressed to the attention of the Committee; and if to the Grantee, shall be delivered personally, sent by facsimile transmission or mailed to the Grantee at the address appearing in the records of
the Company. Such addresses may be changed at any time by written notice to the other party given in accordance with this Paragraph 5(e). 

  
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	 	(f)	 The failure of the Grantee or the Company to insist upon strict compliance with any provision of this
Agreement, or to assert any right the Grantee or the Company, respectively, may have under this Agreement, shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. 

 

	 	(g)	 The Company shall be entitled to withhold from any payments or deemed payments any amount of tax withholding it
determines to be required by law. 

  

	 	(h)	 Notwithstanding anything to the contrary contained in this Agreement, to the extent that the Committee
determines that the RSU award granted hereunder is subject to Section 409A or Section 457A of the Code and fails to comply with the requirements of Section 409A or Section 457A of the Code, the Committee reserves the right
(without any obligation to do so or to indemnify the Grantee for failure to do so), without the consent of the Grantee, to amend or terminate this Agreement and/or amend, restructure, terminate or replace the RSU award in order to cause the RSU to
either not be subject to Section 409A or Section 457A of the Code or to comply with the applicable provisions of such section. 

  

	 	(i)	 The terms of this Agreement shall be binding upon the Grantee and upon the Grantee’s heirs, executors,
administrators, personal representatives, transferees, assignees and successors in interest and upon the Company and its successors and assignees. 

  

	 	(j)	 Unless otherwise permitted in the sole discretion of the Administrator, (i) neither this Agreement nor any
rights granted herein shall be assignable by the Grantee, and (ii) no purported sale, assignment, mortgage, hypothecation, transfer, pledge, encumbrance, gift, transfer in trust (voting or other) or other disposition of, or creation of a
security interest in or lien on, any RSUs or Ordinary Shares by any holder thereof in violation of the provisions of this Agreement will be valid, and the Company will not transfer any of said RSUs or Ordinary Shares on its books nor will any
Ordinary Shares be entitled to vote, nor will any distributions be paid thereon, unless and until there has been full compliance with said provisions to the satisfaction of the Company. The foregoing restrictions are in addition to and not in lieu
of any other remedies, legal or equitable, available to enforce said provisions. 

  

	 	(k)	 The Grantee hereby agrees to perform all acts, and to execute and deliver any documents, that may be reasonably
necessary to carry out the provisions of this Agreement, including but not limited to all acts and documents related to compliance with securities, tax and other applicable laws and regulations. 

 

	 	(l)	 The Grantee hereby represents and agrees that the Grantee is not acquiring the RSUs or the Ordinary Shares with
a view to distribution thereof. 

  

	 	(m)	 Nothing in this Agreement shall confer on the Grantee any right to continue in the employ or other service of
the Company or any Affiliated Company or interfere in any way with the right of the Company or any Affiliated Company and its Shareholders to terminate the Grantee’s employment or other service at any time. Employment or service for only a
portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service as provided in
this Agreement. 

  
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	 	(n)	 This Agreement contains the entire agreement between the parties with respect to the subject matter hereof and
supersedes all prior agreements, written or oral, with respect thereto. 

  

	 	(o)	 This Agreement may be executed in any number of counterparts, including via facsimile, each of which shall be
deemed to be an original and all of which together shall be deemed to be one and the same instrument. 

  

	 	(p)	 Except as otherwise provided in clause (i) above, no amendment or modification hereof shall be valid
unless it shall be in writing and signed by all parties hereto. 

  
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 IN WITNESS WHEREOF, the Company and the Grantee have executed this Agreement as of the day
and year first above written. 
  

			
	QUOTIENT LIMITED
		
	By:	 	 
	Name:	 	Franz Walt
	Title:	 	Chief Executive Officer
	
	 
	PETER BUHLER

  
 - 6 -Exhibit

EXHIBIT 10(c)

Terms of Awards Under
2004 Employee and Director Equity-Based Compensation Plan (the “Plan”)

Capitalized terms used herein that are not defined shall have the same meaning as set forth in the Plan.

 
1.    Stock Appreciation Rights (SARs)
    
		
	(a)
	Vesting Period: Ratably over four (4) years, with twenty-five percent (25%) becoming exercisable on each of the first, second, third and fourth anniversary of the grant date, except as provided in the Plan.

    
		
	(b)
	Term: Ten (10) years from grant date.

    
		
	(c)
	Exercise Price: Fair market value of BD common stock on grant date.

    
		
	(d)
	Settlement: Upon exercise, the holder receives shares of BD common stock equal in value to the difference between the BD common stock price at the time of exercise and the exercise price.

		
	(e)
	Termination of Employment.  Upon death, Disability or Retirement, all unvested SARs become fully exercisable for their remaining term.  Upon termination due to involuntary termination without Cause, SARs may be exercised for three months following termination, but only to the extent vested at the time of termination.  Upon voluntary termination or termination with Cause, unexercised SARs are forfeited.

2.    Performance Units
    
		
	(a)
	Vesting Period: Third anniversary of grant date.

    
		
	(b)
	Settlement: Performance Units are settled in shares of BD common stock. Performance Unit awards are given a share target. A formula determines the actual number of shares that will be issued upon vesting, based on BD’s performance against pre-established performance targets over the performance period.

    
		
	(c)
	Performance Period: Three consecutive fiscal years, beginning with the fiscal year in which the award is granted.

    
		
	(d)
	Performance Measures: Consist of BD’s (1) average annual return on invested capital and (2) average annual revenue growth, each weighted 50%. Payouts are adjusted, subject to certain limits, based on BD’s relative total shareholder return compared to select peer companies during the performance period.  Payouts may range from zero to 200% of award target.

    
		
	(e)
	Dividend Equivalent Rights: Dividends do not accrue on Performance Units.    

		
	(f)
	Termination of Employment: Upon death or 409A Disability, grantee vests in a pro rata amount of the award’s share target. Upon Disability (other than a 409A Disability), Retirement or involuntary termination without Cause, grantee vests in a pro rata amount of the shares that would have been distributable under the award based on the payout formula had the grantee remained employed with BD through the vesting period, with shares being distributed after the end of the applicable vesting period. Upon voluntary termination or termination with Cause, unvested awards are forfeited.

3.    Time-Vested Units (“TVU”)
    
		
	(a)
	Vesting Period: Awards vest ratably over three (3) years, with one-third becoming vested on each of the first, second, and third anniversary of the grant date.

    
		
	(b)
	Settlement: Each TVU entitles the grantee to one share of BD common stock upon vesting.

    
		
	(c) 
	Dividend Equivalent Rights: Dividends do not accrue on TVUs.

    
		
	(d) 
	Termination of Employment: Upon Retirement, death or Disability, TVUs vest in full. Upon voluntary or involuntary termination, unvested TVUs are forfeited.

4.      Performance Time-Vested Units (“P-TVU”).

		
	(a)
	Vesting Period: Third anniversary of grant date.

		
	(b) 
	Settlement: Each P-TVU entitles the grantee to one share of BD common stock upon vesting, subject to satisfaction of performance target over the performance period.

    
		
	(c)
	Performance Period: Three consecutive fiscal years, beginning with the fiscal year in which the award is granted.

    
		
	(d)
	Performance Measure: Average annual growth in adjusted earnings per share (diluted earnings per share less acquisition-related purchase accounting adjustments and finance, integration, restructuring and transaction costs).  

		
	(e)
	Dividend Equivalent Rights: Dividends do not accrue on P-TVUs.

    
		
	(d) 
	Termination of Employment: Upon Retirement, death or Disability, P-TVUs vest in full.  Upon voluntary or involuntary termination, unvested P-TVUs are forfeited.

5.    Change in Control Provisions

Awards automatically vest upon a Change in Control unless the awards are either continued or replaced with similar awards.  In those instances where awards are continued or replaced, the awards will then automatically vest if the holder is terminated without Cause or the holder terminates employment for Good Reason within two years of the Change in Control.

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