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Exhibit 4.1
DESCRIPTION OF SECURITIES REGISTERED
UNDER SECTION 12 OF THE EXCHANGE ACT
LivaNova PLC (the “Company”) has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are its ordinary shares, which have a nominal or par value of £1.00 each (the “ordinary shares”).  The below is a summary of the applicable provisions of the Company’s Articles of Association (the “Articles”) and certain relevant provisions of applicable law.  The summary is not complete and we encourage you to read this summary, the Articles and the other documents we refer to herein for a more complete understanding of the ordinary shares.
General
Under English law, persons who are neither residents nor nationals of the U.K. may freely hold, vote and transfer the ordinary shares in the same manner and under the same terms as U.K. residents or nationals.
Share Capital
As of December 31, 2020, the entire issued share capital of the Company is comprised of 49,447,473 ordinary shares.  
Dividends and Distributions
Under English law, the Company may only pay dividends out of profits that are available for that purpose. The Company’s profits available for distribution are (in basic terms) its accumulated, realized profits, so far as not previously utilized by distribution or capitalization, less its accumulated, realized losses, so far as not previously reduced or extinguished in a reduction or reorganization of capital duly made. The amount of the Company’s distributable reserves is a cumulative calculation. The Company may be profitable in a single financial year but unable to pay a dividend if the profits of that year do not offset all previous years’ accumulated, realized losses.
Additionally, the Company may only make a distribution if the amount of its net assets is not less than the aggregate of its called-up share capital and undistributable reserves, and if, and to the extent that, the distribution does not reduce the amount of those assets to less than that aggregate.
The Articles permit the Company shareholders, by ordinary resolution (a resolution passed by a simple majority of those shareholders present in person or by proxy and voting in respect of the relevant resolution), to declare dividends but no dividend shall exceed the amount recommended by the directors.
In addition, the directors may decide to pay interim dividends. The entitlement to a dividend lapses if unclaimed by a shareholder for 12 years from the date when it became due for payment.
The Articles also permit a scrip dividend scheme under which the directors of the Company may offer any holders of ordinary shares the right to receive shares, credited as fully paid, instead of cash in respect of all or any dividend subject to certain terms and conditions set out in the Articles.

Voting Rights
The shareholders in general meeting must vote by poll. On a poll taken at a general meeting, each qualifying Company shareholder present in person or by proxy and entitled to vote on the resolution has one vote for every ordinary share held by such shareholder.
In the case of joint holders, the vote of the senior holder who tenders a vote shall be accepted to the exclusion of the votes of the other joint holders. The necessary quorum for a general meeting is shareholders who together represent at least a majority of the voting rights of all Company shareholders entitled to vote at the meeting, present in person or by proxy, save that if the Company has only one shareholder entitled to attend and vote at the general meeting, one qualifying Company shareholder present at the meeting and entitled to vote is a quorum.
Amendment to the Articles 
Under the UK Companies Act 2006 (the “Companies Act”), the shareholders may amend the articles of association of the Company by special resolution (a resolution passed by the holders of at least 75% of those shares voted either in person or by proxy on the relevant resolution) at a general meeting. The notice of the general meeting at which a special resolution is proposed shall be required to specify the intention to propose any resolutions at the meeting as special resolutions.
Modification of rights
The rights attaching to the ordinary shares may be modified with the written consent of the holders of 75% in nominal value of the issued ordinary shares (excluding any shares of that class held as treasury shares), or by a special resolution of the holders of the issued ordinary shares, but not otherwise.
General Meetings and Notices
An annual general meeting must be called by not less than 21 clear days’ notice (i.e., excluding the date of receipt or deemed receipt of the notice and the date of the meeting itself). All other general meetings must be called by not less than 14 clear days’ notice. General meetings that are not annual general meetings may be called by shorter notice if agreed to by a majority in number of the Company shareholders having the right to attend and vote at the meeting, being a majority who together hold not less than 95% in nominal or par value of the ordinary shares given that right. At least seven clear days’ notice is required for any adjourned meeting, and such meeting must be held not less than 14 days but not more than 28 days after adjournment at such time and place specified for the purpose in the notice calling the meeting or as decided by the chairman of the meeting.
Subject to the Companies Act, notices of general meetings shall be given to every holder of ordinary shares as of the record date for the relevant meeting. Beneficial owners nominated to enjoy information rights under the Companies Act and the Company’s auditors are also entitled to receive notices of, and other communications relating to, general meetings. Under the Companies Act, the Company is required to hold an annual general meeting of its shareholders within six months from the day following the end of its fiscal year. Subject to the foregoing, a general meeting may be held at a time and place determined by the Company’s board.

Under the Companies Act, the Company must convene such a meeting once it has received requests to do so from Company shareholders representing at least 5% of the paid up share capital of the Company carrying voting rights at general meetings (excluding any paid-up capital held as treasury shares).
Under the Articles, a general meeting may also be called if the company has fewer than two directors and the director (if any) is unable or unwilling to appoint sufficient directors to make up a quorum or to call a general meeting to do so. In such case, two or more Company shareholders may call a general meeting for the purpose of appointing one or more directors.
Disclosure of interests in ordinary shares
Under the Companies Act, the Company may serve a notice requiring a person it knows, or has reasonable cause to believe, has an interest in any ordinary shares (or to have had an interest in the previous three years) to confirm or deny the fact, and, if the former, to disclose certain information about the interest, including information about any other person with an interest in the ordinary shares. If a shareholder fails to comply with such a notice within such reasonable period of time as may be set out in the notice, the shareholder shall not be entitled to attend or vote either personally or by proxy at a general meeting, and, where the shares to which such failure to comply represent at least 0.25 per cent. in nominal value of the issued shares of their class, in respect of such shares, no dividends shall be paid, and no transfers of such shares shall be registered save in certain circumstances. 
Return of Capital and Winding Up
On a return of capital on a liquidation, reduction of capital or otherwise, the surplus assets of the Company available for distribution among the holders of the ordinary shares shall be applied in the same order of priority as applies in respect of dividends (i.e. on a pro rata basis based on the number of ordinary shares held by each holder, with all ordinary shares ranking equally amongst themselves for such purpose).
In the event of a voluntary winding up of the Company, the liquidator may, with the sanction of a special resolution of the Company and any other sanction required by law, subject to the Companies Act, divide among the Company shareholders the whole or any part of the assets of the Company, whether they consist of property of the same kind or not, and the liquidator may, for that purpose, value any assets as they deem fair and determine how the division shall be carried out as between the shareholders or different classes of shareholders, and may vest the whole or any part of the assets in trustees upon such trusts for the benefit of the Company shareholders as he, with the like sanction, may determine. No Company shareholder shall be compelled to accept any assets upon which there is a liability.
Authority to Allot New Shares and Pre-Emption Rights
Under the Companies Act, the Board may only allot shares in the Company or grant rights to subscribe for, or to convert any security into, shares in the Company if it is authorized to do so by the Articles or by ordinary shareholder resolution. There are certain exceptions under the Companies Act, including for equity securities allotted pursuant to an employees’ share scheme (as such term is defined in the Companies Act).
At the annual general meeting of shareholders held on June 29, 2020 (the “2020 AGM”), the Company’s shareholders passed an ordinary resolution granting the Board authority to allot new shares and to grant rights to subscribe for, or to convert any 

securities into, shares up to an aggregate nominal value of: (a) £9,882,722 for general purposes; and (b) an additional £3,218,206 in connection with the grant or exercise of awards made under the Company’s incentive plans from time to time. The amount set out under (a) is equivalent to approximately 20% of the Company’s total issued ordinary share capital as at May 14, 2020. The amount set out under (b) is equivalent to the approximate number of shares in respect of which future grants can be made under the Company’s 2015 Incentive Award Plan. Although this authority was expressed to expire on the date that is five (5) years after the date of the 2020 AGM (unless previously revoked, varied or renewed), the Company has committed that it will not utilize this authority for more than 18 months after the 2020 AGM and will seek renewal of this authority at the annual general meeting of shareholders to be held in 2021 (the “2021 AGM”).
Under the Companies Act, the allotment of equity securities that are to be paid for wholly in cash must be offered first to the existing holders of equity securities in proportion to the respective nominal amounts (i.e., par values) of their holdings on the same or more favorable terms, unless a special resolution to the contrary has been passed or the Articles otherwise provide an exclusion of these pre-emption rights. In this context, equity securities generally means shares other than shares which, with respect to dividends or capital, carry a right to participate only up to a specified amount in a distribution, which, in relation to the Company, will include the ordinary shares, and all rights to subscribe for or to convert securities into such ordinary shares. There are certain exceptions under the Companies Act, including for equity securities allotted pursuant to an employees’ share scheme (as such term is defined in the Companies Act).
At the 2020 AGM, the Company’s shareholders passed a special resolution to give the Board the power to allot new equity securities or to sell treasury shares held by the Company without first offering them to shareholders in proportion to their existing holdings up to an aggregate nominal amount of: (a) £9,882,722 for general purposes; and (b) an additional £3,218,206 in connection with the grant or exercise of awards made under the Company’s incentive plans from time to time. The amount set out under (a) is equivalent to approximately 20% of the Company’s total issued ordinary share capital as at May 14, 2020. The amount set out under (b) is equivalent to the number of shares in respect of which future grants can be made under the Company’s 2015 Incentive Award Plan. However, the Company has committed not to utilize the power granted under this resolution to allot new equity securities or to sell treasury shares held by the Company (otherwise than in accordance with existing shareholders’ pre-emption rights) with an aggregate nominal amount in excess of: (a) £2,429,232 for any purpose; and (b) an additional £2,429,232 only for the purposes of financing an acquisition or other capital investment. The amounts set out under (a) and (b) are each equal to approximately 5% (and together equal to approximately 10%) of the Company’s issued ordinary share capital as at May 14, 2020. Although this power was expressed to expire on the date that is five (5) years after the date of the 2020 AGM (unless previously revoked, varied or renewed), the Company has committed that it will not utilize this power for more than 18 months after the 2020 AGM and will seek renewal of this authority at the 2021 AGM.
Alteration of Share Capital/Repurchase of Ordinary Shares
Subject to the Companies Act, and without prejudice to any relevant special rights attached to any class of shares, the Company may, from time to time, among other things:
•increase its share capital by allotting and issuing new shares in accordance with the Articles and any relevant shareholder resolution (see "Authority to Allot New Shares and Pre-Emption Rights" above);
•consolidate all or any of its share capital into shares of a larger nominal amount (i.e., par value) than the existing shares, subject to this being approved by its shareholders by means of an ordinary resolution;

•subdivide any of its shares into shares of a smaller nominal amount (i.e., par value) than its existing shares, subject to this being approved by its shareholders by means of an ordinary resolution; or 
•redenominate its share capital or any class of share capital, subject to this being approved by its shareholders by means of an ordinary resolution.
The Companies Act prohibits the Company from purchasing its own shares unless the terms of the contract pursuant to which the purchase(s) are to be made have been approved by its shareholders by means of an ordinary resolution. 
Transfer of ordinary shares
The Articles allow holders of ordinary shares to transfer all or any of their shares by instrument of transfer in writing in any usual form or in any other form which is permitted by the Companies Act and is approved by the Company’s board. The instrument of transfer must be executed by or on behalf of the transferor and (in the case of a transfer of any ordinary shares which are not fully paid) by or on behalf of the transferee. 
The Company may not charge a fee for registering the transfer of a share.
The Company’s board may, in its absolute discretion, refuse to register a transfer of shares in certificated form if it is not fully paid or is with respect to a share on which the Company has a lien and sums in respect of which the lien exists is payable and is not paid within 14 clear days after due notice has been sent. If the Company’s board refuses to register a transfer of a share, it shall send notice to the transferee of notice of the refusal together with reasons for the refusal and any instrument of transfer shall (except in the case of fraud) be returned when the notice of refusal is sent.
Material U.K. Tax Consequences of Holding Ordinary Shares for U.S. Holders
The following summarizes certain U.K. tax consequences generally applicable to ordinary shares and is based on current U.K. tax law and HM Revenue & Customs (“HMRC”) published practice, both of which are subject to change. It does not purport to be a complete analysis of all U.K. tax considerations which may arise. It relates only to persons who (i) are absolute beneficial owners holding ordinary shares as a capital investment, (ii) are resident for tax purposes solely in the United States, and (iii) do not carry on (whether solely or in partnership) any trade, profession or vocation in the United Kingdom through a branch or agency to which those shares are attributable, or, in the case of corporate holders of ordinary shares, do not carry on a trade in the United Kingdom through a permanent establishment to which those shares are attributable (persons meeting each of the descriptions in (i), (ii) and (iii) being “US Holders”).  It may not apply to certain categories of U.S Holders, such as those who acquired their ordinary shares in connection with employment.
Shareholders should consult their own tax advisors in respect of the tax consequences related to receipt, ownership, purchase or sale or other disposition of their ordinary shares.
Dividends
U.S. Holders will not be subject to U.K. income tax or U.K. corporation tax on income in relation to any dividends received in respect of their ordinary shares. Additionally, no U.K. tax is required to be withheld from any dividends paid in respect of ordinary shares. 

Disposition and Transfers
U.S. Holders will not be subject to U.K. tax on capital gains arising on the disposal of their ordinary shares.  
Treaty relief
If the U.K. tax treatment of dividends paid to U.S. Holders, or on the taxation of capital gains realized by U.S. Holders from the disposal of ordinary shares, were to change, then eligible U.S. Holders may be able to claim relief from applicable U.K. tax under the provisions of the tax treaty between the U.K. and the United States of America. Relief under the treaty generally has to be claimed rather than applying automatically.  
Stamp duty and stamp duty reserve tax ("SDRT")
Transfers of ordinary shares within a clearance service or depositary receipt system should not give rise to a liability to U.K. stamp duty or SDRT, provided that no instrument of transfer is entered into and that no election that applies to ordinary shares is, or has been, made by the clearance service or depositary receipt system under Section 97A of the U.K. Finance Act 1986. We understand that HMRC regards the facilities of the Depositary Trust Company as a clearance service for these purposes.
Transfers of ordinary shares within a clearance service or depositary receipt system where an election has been made by the clearance service or depositary receipt system under Section 97A of the U.K. Finance Act 1986 will generally be subject to SDRT (rather than U.K. stamp duty) at the rate of 0.5% of the amount or value of the consideration or, in certain circumstances, the value of the shares. SDRT is a liability of the transferee of the shares.
Transfers of ordinary shares that are held in certificated form by means of an instrument of transfer will generally be subject to U.K. stamp duty at the rate of 0.5% of the consideration given (rounded up to the nearest £5 per instrument), payable by the transferee. An exemption from U.K. stamp duty is available for a written instrument transferring an interest in ordinary shares where the amount or value of the consideration is £1,000 or less, and it is certified on the instrument that the transaction effected by the instrument does not form part of a larger transaction or series of transactions for which the aggregate consideration exceeds £1,000. SDRT may be payable on an agreement to transfer such ordinary shares, generally at the rate of 0.5% of the consideration given in money or money’s worth under the agreement to transfer ordinary shares. This charge to SDRT would be discharged if an instrument of transfer is executed pursuant to the agreement which gave rise to SDRT and U.K. stamp duty is duly paid on the instrument transferring ordinary shares within six years of the date on which the agreement was made or, if the agreement was conditional, the date on which the agreement became unconditional.  In certain circumstances the stamp duty or SDRT liability may be calculated by reference to the market value of the ordinary shares concerned in the relevant transaction, rather than the consideration given for the transfer or agreement for transfer.
If ordinary shares (or interests therein) are subsequently transferred into a clearance service or depositary receipt system, U.K. stamp duty or SDRT will generally be payable at the rate of 1.5% of the amount or value of the consideration given or, in certain circumstances, the value of the shares (save to the extent that an election has been made under Section 97A of the U.K. Finance Act 1986). This liability for U.K. stamp duty or SDRT will strictly be accountable by the clearance service or depositary receipt system, as the case may be, but will, in practice, generally be reimbursed by participants in the clearance service or depositary receipt system.

Transfers through CREST of CREST depositary interests (“CDIs”), representing underlying ordinary shares will be generally liable to SDRT, rather than U.K. stamp duty, at the 0.5% rate. CREST is obliged to collect SDRT on relevant transactions settled within the CREST system. The issue and deposit into CREST, and any subsequent cancellation, of CDIs representing underlying ordinary shares should not give rise to any liability to U.K. stamp duty or SDRT, although this will be the subject of a clearance to be sought from HMRC and no guarantee can be given on the outcome of such an application.
This discussion is for general information only and does not constitute tax or legal advice. In addition, US Holders should consult their own tax advisors regarding the U.S. tax consequences of the purchase, ownership and disposition of ordinary shares.
Stock Exchange Listing
The ordinary shares trade on Nasdaq under the symbol “LIVN”.Document

WITHOUT PREJUDICE AND SUBJECT TO CONTRACT

Exhibit 10.41

LIVANOVA PLC

THAD HUSTON

			
	SEPARATION AND SETTLEMENT AGREEMENT

THIS SEPARATION AND SETTLEMENT AGREEMENT (the “Agreement”) is made on 27, October 2020
BETWEEN
(1)    LIVANOVA PLC, a company registered in England with registered number 09451374 and having its registered office at 20 Eastbourne Terrace, W2 6LG London  (the “Company”); and

(2)    THAD HUSTON, residing, in London,  United Kingdom (the “Executive”).
BACKGROUND
The Company has employed the Executive as Chief Financial Officer since May, 20 2017 under the terms of a Service Agreement dated 27, April 2017 as varied by the parties prior to the date of this Agreement (the “Service Agreement”). In accordance with the Service Agreement both parties are required to give 12 months notice to terminate the Executive's employment.  The Executive and the Company desire to plan for the Executive’s separation from the Company.
IT IS AGREED as follows:
1.    DEFINITIONS AND INTERPRETATION
1.1    Definitions
In this Agreement, unless the context otherwise requires:
“the Acts”        means the Employment Rights Act 1996 section 203(3) and the Equality Act 2010, section 147;
“Claims”        means the claims that the Executive believes that he has against the Company or any Group Company or against any of its or their respective shareholders, officers, employees or agents, being:
(a)    for damages for wrongful dismissal or breach of contract arising out of his employment, or termination of the employment, or otherwise including but not limited to any claim in respect of unpaid salary, bonus, commission, overtime, holiday pay, sick pay, pension contributions, benefits, allowances, re-imbursement of expenses, notice pay or any other termination or severance payment howsoever arising and in respect of stigma;
(b)    for unfair dismissal under the Employment Rights Act 1996;
(c)    in relation to unauthorized deductions from wages;
(d)    for discrimination, harassment or victimisation on the grounds of age, sex, race or nationality or any other unlawful ground, pursuant to the Equality Act 2010;
(e)    for breach of contract or any other rights to or in respect of shares or other securities or securities based incentives in the Company or any Group Company; 
(f)    for unlawful detriment under the Employment Rights Act 1996; and 
(g)    under the Public Interest Disclosure Act 1998.
“Effective Date”    means the earlier of 31 October 2020 and the date of the next 10Q filing for the Company;
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“Employment”        means the employment of the Executive under this Agreement or, as the context requires, the duration of that employment;
“Group”        means the Company, any presently existing or future holding company or undertaking of the Company and any presently existing or future subsidiaries and subsidiary undertakings of the Company or such holding company or undertaking (and the words “subsidiary” and “holding company” shall have the meanings given to them in section 1159 in the Companies Act 2006);
“Group Company”    means any company within the Group; and
“Termination Date”    has the meaning given in Clause 2.1.
1.2    Interpretation and Construction
Save to the extent that the context or the express provisions of this Agreement require otherwise, in this Agreement:
(a)    words importing the singular shall include the plural and vice versa;
(b)    words importing any gender shall include all other genders;
(c)    words importing the whole shall be treated as including reference to any part of the whole;
(d)    any reference to a Clause, the Schedule or part of the Schedule is to the relevant Clause, Schedule or part of the Schedule of or to this Agreement unless otherwise specified;
(e)    reference to this Agreement or to any other document is a reference to this Agreement or to that other document as modified, amended, varied, supplemented, assigned, novated or replaced from time to time;
(f)    reference to a provision of law is a reference to that provision as extended, applied, amended, consolidated or re-enacted or as the application thereof is modified from time to time and shall be construed as including reference to any order, instrument, regulation or other subordinate legislation from time to time made under it;
(g)    references to a “person” includes any individual, firm, company, corporation, body corporate, government, state or agency of state, trust or foundation, or any association, partnership or unincorporated body (whether or not having separate legal personality) or two or more of the foregoing;
(h)    general words shall not be given a restrictive meaning because they are followed by words which are particular examples of the acts, matters or things covered by the general words and “including”, “include” and “in particular” shall be construed without limitation; and
(i)    the meaning of any words coming after “other” or “otherwise” shall not be constrained by the meaning of any words coming before “other” or “otherwise where a wider construction is possible.
1.3    Headings
The table of contents and the headings in this Agreement are included for convenience only and shall be ignored in construing this Agreement.
2.    TERMINATION AND TRANSITION PERIOD/GARDEN LEAVE
2.1    Termination Date
2.1.1    The Executive’s employment with the Company shall terminate on the earlier of the first anniversary of the Effective Date and such other day as is agreed in accordance with Clause 2.2.1 (the "Termination Date"), unless terminated earlier in accordance with Clause 18 of the Service Agreement.
2.1.2    On the Effective Date, the Executive will resign from the office of  Chief Financial Officer  of the Company and as an officer and director of any of its Group Companies .
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2.1.3    The Executive shall do all such acts and things as the Company may reasonably require to effect the Executive's resignations referred to above and from any other offices with the Company or any of its Group Companies or which the Executive held by reason of employment by the Company.
2.1.4    Between the date of this Agreement and the Effective Date, Executive agrees to assist with the transition of his current responsibilities to a successor appointed by the Company.
2.2    Garden Leave
2.2.1    The Executive shall spend the notice period required by his Service Agreement (from the Effective Date until the Termination Date) on garden leave (the "Garden Leave Period").   The Garden Leave Period may be terminated at the Executive's election at any time after 24 May 2021 by notifying the Company of his intention in writing. During the Garden Leave Period, save as otherwise required by the Company the Executive:
(a)    shall not carry out any of his normal duties;
(b)    shall not attend for work at the Company's premises without the prior written consent of the Board;
(c)    shall not contact or deal with (or attempt to contact or deal with) any consultant, client, customer, supplier, agent, distributor, shareholder, adviser or other business contact of the Company or any Group Company except such persons and for such purposes as the Board may approve in writing;
(d)    shall not transact any business on behalf of the Company or any Group Company and if the Executive is contacted by any supplier, customer, client or employee of the Company or any Group Company prior to the Termination Date, the Executive shall refer them to Alex Shvartsburg;
(e)    shall not have any contact with other employees of the Company or any Group Company (except for purely social purposes) unless specifically authorised by the Board to do so;
(f)    shall not have access to the Company's information systems; 
(g)    shall take all accrued untaken holiday and shall notify the Company in advance of the dates on which he intends to take such holiday; and
(h)    the Executive's obligations to act in good faith and in the best interests of the Company and all Group Companies and the Executive's obligations under the Service Agreement shall remain in full force and effect.
2.3    Remuneration During Transition Period/Garden Leave
2.3.1    The Company will pay the Executive his normal remuneration and benefits required under the Service Agreement, other than bonus as provided in 3.1.1(b) [until the Termination Date (less such sums as the Company is obliged by law to deduct by way of tax and employee's National Insurance), and forward the Executive's P45 in due course.
2.3.2    The Company will make the payments in 2.3.1 in the normal course.
2.4    Expenses
The Company will reimburse the Executive for all expenses reasonably and properly incurred and accounted for in connection with the Executive's employment up to the Termination Date provided that the Company receives the appropriate receipts or invoices within 7 days of the Termination Date. 
2.5    Restrictions During the Garden Leave Period and After Termination of Employment
2.5.1    The Executive shall adhere to the terms of Clause 15 (Restrictions During Employment) of the Service Agreement until the Termination Date.
2.5.2    During the Employment, including the Garden Leave Period and at any time (without limitation) after the Termination Date, Executive shall adhere to the terms of Clause 16 (Confidentiality and Company Documents) of the Service Agreement.
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2.5.3    The Executive shall comply with Clause 20 (Restrictions after Termination) of the Service Agreement.  It is agreed that for the purposes of such restrictions the Restricted Period shall commence on the Effective Date.
2.5.4    The Executive acknowledges and agrees that nothing in this Agreement is intended to or does prevent him from: 1) filing a charge or complaint with any governmental agency or regulatory body (including, but not limited to, the Health and Safety Executive, Equality and Human Rights Commission,  or Securities and Exchange Commission) or 2) disclosing information for the purpose of making a protected disclosure within the meaning of Part IVA of the Employment Rights Act 1996 (Protected Disclosures), provided that the disclosure is made in accordance with the provisions of that Act.
3.    CONSIDERATION
3.1    Severance
3.1.1    Subject to and conditional upon the Executive's compliance with the terms and warranties of this Agreement the Company shall (without any admission of liability) (provided that the Executive has also returned to the Company a copy of this Agreement signed by him with a completed Adviser's Certificate): 
(a)    within 28 days of the Termination Date or the date on which the Company receives the Reaffirmation of Waiver and Release of Claims at Schedule 2, if later:
(i)    pay to the Executive the sum of £250,000 as compensation for the loss of the Executive's employment, including loss of office, and damages for breach of contract, less such sums as the Company is obliged by law to deduct by way of tax and employee's National Insurance (the "Severance Payment");
(ii)    if the Executive elects to terminate the Garden Leave Period at any time prior to the first anniversary of the Effective Date, pay to the Executive his basic salary in lieu of the balance of the Executive's contractual notice period from the end of the Garden Leave Period to the first Anniversary of the Effective Date, less such sums as the Company is obliged by law to deduct by way of tax and employee's National Insurance (the "Notice Payment"); and 
(b)    for fiscal year 2020, no later than April 30, 2021, pay the Executive his annual bonus according the agreement and approvals of the Short Term Incentive plan by the compensation committee and the board of the Company, less such sums as the Company is obliged by law to deduct by way of tax and employee's National Insurance (the "Bonus Payment").  It is anticipated that the Bonus Payment will be paid at 15% of the Executive's basic salary based on his leadership objectives, unless it is otherwise collectively determined by the Company’s compensation committee that all members of the Executive Leadership Team should receive another amount.  Any other components will be calculated consistently with those for other members of the Executive Leadership Team.  For the avoidance of doubt the Executive will not be eligible for a bonus for the fiscal year 2021.
3.2    Equity Awards
The Executive shall not be eligible to receive any further equity awards in the Company.  Any outstanding equity awards previously granted to Executive (the “Equity Awards”), will continue to vest, in accordance with their terms during the period through to the Termination Date.  All unvested Equity Awards will immediately lapse on the Termination Date pursuant their terms. 
3.3    Relocation assistance
3.3.1    The Company will provide the Executive and his accompanying dependents with Relocation Services provided via a vendor selected by the Company for a total maximum cost of £100,000. The list of the Relocation Services includes, but it is not limited to i) reasonable temporary living expenses while the Executive and the Executive’s family are in between permanent housing, ii) packing, shipping from the United Kingdom to the United States and unpacking Executive’s household possessions at the Company’s expense, iii) reimbursement of travel expenses for two trips for the Executive and the Executive’s family to the United States, iv) reimbursement of other miscellaneous relocation expenses, v) immigration support services (in the United Kingdom and/or the United States), and vi) customary closing costs in relation to 
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the acquisition of a new property. The Relocation Services will be available to the Executive to use up to 24 months after the Effective Date.
3.3.2    If the Executive is compelled to pay income taxes on any of the foregoing Relocation Services provided by the Company, the Executive will be responsible for the related income tax and national insurance.
3.4    Tax assistance
3.4.1    In addition to the Relocation Services, the Company will provide the Executive with tax assistance   through a professional tax services firm for the preparation and filing of the 2021 US tax year and 2020/2021 and 2021/2022 UK tax year.  In addition, the tax consultant will provide a consultation to explain tax implications resulting from the end of the employment relationship, the relocation to the United States and to review the Executive’s expected tax responsibilities associated with it.
3.4.2    If the Executive is compelled to pay income taxes on the foregoing tax assistance, the Executive will be responsible for the related income tax and national insurance.
3.5    Attorney Fees
3.5.1    The Executive warrants that he has before signing this Agreement taken advice from Simon Malcolm of Greenwoods GRM LLP (the "Adviser") on the terms and effect of this Agreement and in particular its effect on his ability to pursue a complaint before an Employment Tribunal, the County Court or High Court.
3.5.2    It is a condition of this Agreement that the Adviser provides the Certificate annexed to this Agreement at Schedule 1.
3.5.3    The Company shall within 30 days of receipt pay against a properly constituted VAT invoice addressed to the Executive but marked payable by the Company, a sum not exceeding £5,000.00 plus VAT to the Adviser in respect of legal fees incurred in taking independent legal advice in relation to this Agreement.
3.6    Future Inquiries
The Executive shall direct all inquiries from prospective employers to Human Resources, who will advise said prospective employers of Executive’s dates of service and positions held.
3.7    Satisfaction of Payment in Lieu of Notice
Executive agrees that the terms of Clauses 2 and 3 of this Agreement are intended to satisfy, and do in fact satisfy, the Company’s obligations under Clauses 3.2 (Duration and Notice) and 3.3 (Payment in Lieu of Notice) of the Service Agreement.  The Executive expressly agrees that, upon termination of the Employment, the Company shall have no obligation to make a payment in lieu of notice to Executive and shall have no obligation to make any other payment to Executive except as expressly described in Clauses 2 and 3 of this Agreement.
3.8    Tax Indemnity
3.8.1    In accordance with the parties' understanding of current tax law, the first £30,000 of the Severance Payment shall be paid without any deduction for income tax or National Insurance Contributions. The balance of the Severance Payment will be paid less such deduction of income tax as the Company is obliged by law to withhold. The Company will account to HM Revenue & Customs for employer’s National Insurance Contributions on the balance of the Severance Payment.
3.8.2    The Executive shall be entirely responsible for the payment of any further tax, employee’s National Insurance Contributions, interest, fines, charges or penalties which may be or become payable in respect of the Severance Payment (the "Taxes"). The Executive agrees to promptly indemnify the Company on an after-tax basis in respect of the Taxes. This indemnity does not extend to any fines or interest incurred solely as a result of the Company's negligent failure to make a payment or any delay in so doing.
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3.8.3    The Company shall promptly notify the Executive of any demand it receives from HM Revenue & Customs in respect of any Taxes and agrees that it shall not make any payment in respect of the same until the Executive has had a reasonable opportunity (at least 28 days) to dispute the demand. The Company shall give the Executive reasonable access to information which might reasonably be required to dispute any such demand.
3.9    D&O Insurance 
3.9.1    For a period of 6 years from the Termination Date, the Company will maintain directors’ and officers’ insurance for the benefit of the Executive in respect of those liabilities which he may have incurred as a director of the Company or any Group Company on the same terms as are provided to its directors from time to time during such period.
4.    WAIVER AND RELEASE OF CLAIMSaiver and Release of Claims
4.1.1    The Executive agrees that the terms of this Agreement are in full and final settlement of all and any claims or rights of action Executive may have against the Company or any Group Company arising out of his employment with the Company or any Group Company or its termination on the Termination Date or from events occurring after this Agreement has been entered into whether under common law, contract, statute including, but not limited to, the Claims, each of which is hereby intimated and waived.
4.1.2    The waiver in clause 4.1.1 does not apply to:
(a)    any claims for personal injury other than (a) where Executive is currently aware of any facts or circumstances which do or may give rise to the claim and (b) those which may be brought under any discrimination legislation;
(b)    any claims by Executive to enforce this Agreement; and
(c)    any claims for any accrued pension rights.
4.1.3    The Executive acknowledges that the conditions relating to settlement agreements under the Acts have been satisfied and that he has received independent legal advice and shall deliver on execution of this Agreement a certificate signed by his independent legal adviser in the form attached hereto as Schedule 1.  
4.1.4    The Executive shall as a strict condition of this Agreement within the 7-day period preceding the Termination Date deliver to the Company’s CHRO the signed Reaffirmation Waiver and Release of Claims, attached hereto as Schedule 2.  
4.1.5    The Executive warrants and represents that as at the date of this Agreement:
(a)    he has disclosed to the Adviser all facts, circumstances and information relating to his employment and its termination which the Adviser requires or may reasonably require in order to advise whether he has any claims against the Company, any Group Company, its or their shareholders, officers, employees, ex-employees and pension trustees;
(b)    having taken legal advice from the Adviser he has notified the Company in writing of all and any actual or potential claims that he has or may be entitled to make against the Company or any Group Company, its or their shareholders, officers, employees, ex-employees and pension trustees either now or in the future, in respect of his employment and its termination, whether contractual, statutory or otherwise and that these are fully particularised in the definition of Claims;
(c)    other than the Claims he has no other further claims or potential claims against the Company or any Group Company or its or their shareholders, officers, employees, ex-employees and pension trustees and he has not already instituted proceedings in relation to any claim or claims against the same;
(d)    as at the date of this Agreement he is not aware of any conditions, illness, injury or other circumstances affecting him that may give rise to a personal injury claim against the Company or any Group Company; 
(e)    he has not committed any act or made any omission which might amount to, and is not aware (and ought not reasonably to be aware) of any circumstances which might constitute, a repudiatory breach of his 
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Service Agreement entitling the Company to terminate his employment without notice or payment in lieu of notice; and 
(f)    he has not received either orally or in writing any offer of employment, office or contract for services (whether formal or informal), does not have any expectation of such offer and has not, either orally or in writing accepted or agreed to accept any such offer to take effect after the Termination Date.
For the avoidance of doubt, the warranties set out in this Clause 4.1.5 are a condition to payment of the consideration provided in accordance with Clause 3.
4.1.6    The Executive acknowledges that the Company has relied on the obligation in Clause 4.1.4 and the Warranties in Clause 4.1.5 when entering into this Agreement and the Consideration set out in clause 3 above is conditional upon Executive's compliance with his obligations under this Agreement, including the obligation contained within Clause 4.1.4.

5.    MISCELLANEOUS TERMS
5.1    Mutual Non-Disparagement
The Executive agrees not to disparage, demean or defame the Company or its affiliates, their products, services or employees in any way.  The Company agrees to instruct those of its officers and employees who are aware of the terms of this Agreement not to disparage, demean or defame Executive in any way.
5.2    Governing Law
This Agreement is governed by and shall be construed and enforced, in all respects, in accordance with English law.
5.3    Entire Agreement
5.3.1    This Agreement and the documents referred to in it constitute the entire agreement and understanding of the parties and supersede and extinguish all previous agreements, promises, assurances, warranties, representations and understandings between the parties, whether written or oral, relating to the subject matter of this Agreement.
5.3.2    Each party acknowledges that in entering into this Agreement it does not rely on, and shall have no remedies in respect of, any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in this Agreement.
5.3.3    Each party agrees that it shall have no claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this Agreement.
5.3.4    Nothing in this Clause shall limit or exclude any liability for fraud.
5.4    Legal and Other Assistance
5.4.1    The Executive agrees that he will, at the request of the Company, provide the Company and/or any Group Company with such assistance as it or they may reasonably require in the conduct of any legal proceedings, investigation or enquiry in respect of which the Company or its advisers believe that the Executive may be of assistance.
5.4.2    If the Executive is required to provide assistance to the Company and/or any Group Company, in accordance with clause 5.4.1 the Company will reimburse the Executive for any reasonable expenses which the Executive may incur and which are evidenced by appropriate receipts or invoices.
5.5    Rights of Third Parties
5.5.1    The Company and the Executive intend that the terms of this Agreement should be enforceable by any Group Company, by virtue of the Contracts (Rights of Third Parties) Act 1999.
5.6    Without Prejudice
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5.6.1    This Agreement although marked "without prejudice" will upon signature by all parties be treated as an open document evidencing an agreement binding on the parties.
5.7    Counterparts
5.7.1    This Agreement may be executed in any number of counterparts, each of which, when executed and delivered, shall be an original, and such counterparts or duplicates together shall constitute one and the same instrument.
5.8    Notices
All notices required or permitted to be given under this Agreement shall be in writing and shall be deemed effectively given:  (i) upon personal delivery to the party to be notified; (ii) when sent by confirmed facsimile if sent during normal business hours of the recipient, if not, then on the next business day; or (iii) on delivery by an internationally recognized overnight courier, with written verification of receipt.  All communications shall be sent to the address set forth below or at such other address as the Company or Executive may designate by ten (10) days advance written notice to the other party.
In the case of the Company to:
20 Eastbourne Terrace
London, W2 6LG
United Kingdom
Attention:  Senior Vice President & General Counsel
Facsimile:  +44 20 3325 0696

In the case of Executive to his personal address as provided separately to the Company, and as may be updated from time to time.  

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SCHEDULE 1 - CERTIFICATE OF INDEPENDENT LEGAL ADVISER
I Simon Malcolm pf Greenwoods GRM LLP whose address is 1 Bedford Row, London WC1R 4BZ confirm that I gave independent legal advice to Thad Huston of Flat 3, 66 New Cavendish Street, London, W1G8UZ, United Kingdom as to the terms and effect of the Agreement to which this certificate is attached  in particular as to its effect on his ability to pursue his rights, in particular the Claims specified in clause 4.1.1 before a Court of competent jurisdiction or Employment Tribunal.

I confirm that I am a solicitor of the Senior Courts holding a current practising certificate and that the statutory requirements relating to settlement agreements set out in the Acts (as defined in the Agreement) have been met.  I confirm further that there was in force at the time I gave the advice referred to above a policy of insurance covering the risk of a claim by Thad Huston in respect of any loss arising in consequence of that advice.
Signed:  
Dated: 

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SCHEDULE 2 – REAFFIRMATION WAIVER AND RELEASE OF CLAIMS

This Reaffirmation Waiver and Release of Claims (“Release”) is made on ___________________________________by Thad Huston (“Executive”) in connection with the Employee’s separation from employment on ______________________________________.
NOW THEREFORE, in consideration of the mutual promises described in the Separation and Settlement Agreement dated ______ October 2020 ("the Separation and Settlement Agreement"), to which this Release is appended as Schedule 2, Executive agrees as follows.
1.    DEFINITIONS
Definitions
In this Release, unless the context otherwise requires:
“the Acts”        means the Employment Rights Act 1996 section 203(3) and the Equality Act 2010, section 147;
“Claims”        means the claims that the Executive believes that he has against the Company or any Group Company or against any of its or their respective shareholders, officers, employees or agents, being:
(a)    for damages for wrongful dismissal or breach of contract arising out of his employment, or termination of the employment, or otherwise including but not limited to any claim in respect of unpaid salary, bonus, commission, overtime, holiday pay, sick pay, pension contributions, benefits, allowances, re-imbursement of expenses, notice pay or any other termination or severance payment howsoever arising and in respect of stigma;
(b)    for unfair dismissal under the Employment Rights Act 1996;
(c)    in relation to unauthorized deductions from wages;
(d)    for discrimination, harassment or victimisation on the grounds of age, sex, race or nationality or any other unlawful ground, pursuant to the Equality Act 2010;
(e)    for breach of contract or any other rights to or in respect of shares or other securities or securities based incentives in the Company or any Group Company; 
(f)    for unlawful detriment under the Employment Rights Act 1996; and 
(g)    under the Public Interest Disclosure Act 1998.
“Group”        means the Company, any presently existing or future holding company or undertaking of the Company and any presently existing or future subsidiaries and subsidiary undertakings of the Company or such holding company or undertaking (and the words “subsidiary” and “holding company” shall have the meanings given to them in section 1159 in the Companies Act 2006);
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“Group Company”    means any company within the Group.
2.    WARRANTIES
2.1    The Executive warrants that:
(a)    he has not raised any legal proceedings against the Company or any Group Company or against any of its or their respective shareholders, officers, employees or agents; and
(b)    other than the Claims, as of the date of this Release, he has no further or outstanding claims or rights of action, being any further or outstanding claims or rights of action, whether under statute or common law (including contractual, tortious or other claims) and whether before an Employment Tribunal, court or otherwise and whether in the UK or any other jurisdiction in the world against the Company or any Group Company or any of its or their respective shareholders, officers, employees or agents including in respect of or arising out of his employment, or the holding of any office with or investment in the Company or any Group Company or the termination of that employment or office (such claims or rights of action referred to as “Further Claims”). 
2.2    The Executive warrants as a strict condition of the Company's obligation to honour the terms of clause 3 of the Agreement  under this Release that there are no circumstances of which he is aware or of which he ought to be aware which could constitute a repudiatory breach by him of his contract of employment which would entitle or have entitled the Company to terminate his employment without notice.
3.    SETTLEMENT
3.1    Subject to clause 3.3, the Executive accepts the terms of this Release in full and final settlement of the Claims and all and any Further Claims, whether such claims are known or unknown to the parties and whether or not they are or could be in the contemplation of the parties at the date of this Release, which are waived and released in full.  Executive acknowledges that the conditions relating to settlement agreements under the Acts have been satisfied and that he has taken independent legal advice and shall deliver on execution of this Release a confirmation of advice certificate signed by his independent legal adviser in the form attached hereto.
3.2    The Executive undertakes not to institute or pursue any proceedings against the Company or any Group Company or against any of its or their respective shareholders, officers, employees or agents before an Employment Tribunal, court or any other judicial body anywhere in the world in respect of the Claims or for any remedy arising from any Further Claims.
3.3    The waiver in clause 3.1 above  does not apply to:  (a) any claims for personal injury other than (a) where Executive is currently aware of any facts or circumstances which do or may give rise to the claim and (b) those which may be brought under any discrimination legislation; (b) any claims by Executive to enforce this Agreement; or (c) any claims for any accrued pension rights.  In respect of  latent personal injuries and/or any latent industrial disease arising out of the course of his employment with the Company and/or the Group that are currently unknown to him, the Executive warrants that he is not aware of having any such personal injuries.  These exceptions are the only claims which have not been settled by this Release.
3.4    Subject to the terms of Clause 3.3, if any other claim emerges in law or in fact anywhere in the world based on anything done or omitted to be done during the period of the Executive’s employment by the Company which was not previously known or foreseeable by the Executive, then the Executive agrees that there should be no recourse to any remedy for the claim against the Company or any Group Company.  The Executive acknowledges and accepts that in agreeing to the severance arrangements set out in Clause 3 of the Separation and Settlement Agreement he has taken into account that he has waived the right to pursue any such claims, whether foreseeable or not previously known, against the Company or any Group Company.

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Confirmation of advice for Reaffirmation Waiver and Release of Claims

I ________________________ whose address is ______________________________________ confirm that I gave independent legal advice to Thad Huston of Flat 3, 66 New Cavendish Street, London, W1G8UZ, United Kingdom as to the terms and effect of the above Release to which this certificate is attached  in particular as to its effect on his ability to pursue his rights, in particular the Claims and Further Claims specified in clause 3.1 above before a Court of competent jurisdiction or Employment Tribunal.

I confirm that I am a solicitor of the Senior Courts holding a current practising certificate and that the statutory requirements relating to settlement agreements set out in the Acts (as defined in the Agreement) have been met.  I confirm further that there was in force at the time I gave the advice referred to above a policy of insurance covering the risk of a claim by Thad Huston in respect of any loss arising in consequence of that advice.
Signed:  
Dated:
 
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IN WITNESS of which this Release has been executed and delivered as a deed on the first date written above.

EXECUTED as a Deed
by THAD HUSTON
                 _________________________________
                Thad Huston
in the presence of:

Witness’s
Signature:            _________________________________
Full Name:            _________________________________
Address:            _________________________________
                _________________________________
            _________________________________

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IN WITNESS of which this Agreement has been executed and delivered as a deed on the first date written above.

EXECUTED as a Deed by        _________________________________
DAMIEN McDONALD,        Damien McDonald
Chief Executive Officer,
for and on behalf of 
LIVANOVA PLC
in the presence of a Witness

                    _________________________________
                    Witness

Full Name:                _________________________________
Address:                _________________________________
                    _________________________________
                    _________________________________

EXECUTED as a Deed by
THAD HUSTON            _________________________________
in the presence of a Witness        THAD HUSTON

                    _________________________________
Witness

Full Name:                _________________________________
Address:                _________________________________
                    _________________________________
                    _________________________________

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