Document:

LVB Acquisition Management Stockholders' Agreement

 Exhibit 10.5.1 
 LVB ACQUISITION, INC. 
 MANAGEMENT STOCKHOLDERS’ AGREEMENT

 MANAGEMENT STOCKHOLDERS’ AGREEMENT (this “Agreement”), dated as of November 6, 2007, between
LVB Acquisition, Inc. (the “Company”), the Majority Stockholder (as defined below) and each individual listed on Exhibit A attached hereto (the “Management Stockholder”). 

WHEREAS, the Management Stockholder may be the owner of shares of common stock of the Company, $0.01 par value per share (“Common
Stock”) and/or may be granted options to purchase Common Stock (the “Options”), pursuant to the LVB Acquisition, Inc. Management Equity Incentive Plan (the “Plan”); and 

WHEREAS, as a condition to the issuance of any shares of Common Stock by the Company to the Management Stockholder, the Management
Stockholder is required to execute this Agreement; and 
 WHEREAS, the Management Stockholder, the Majority Stockholder and the
Company desire to enter into this Agreement and to have this Agreement apply to any shares of Common Stock acquired by the Management Stockholder from whatever source (in the aggregate, the “Shares”); 

NOW THEREFORE, in consideration of the premises hereinafter set forth, and other good and valuable consideration, the receipt of which is
hereby acknowledged, the parties hereto agree as follows. 
 1. Definitions. As used in this Agreement, the following
capitalized terms shall have the following meanings: 
 (a) “Affiliate” shall mean, with respect to any entity,
any other corporation, organization, association, partnership, sole proprietorship or other type of entity, whether incorporated or unincorporated, directly or indirectly controlling or controlled by or under direct or indirect common control with
such entity. 
 (b) “Board” shall mean the Board of Directors of the Company or any committee appointed by the
Board to administer the Plan pursuant to the terms of the Plan. 
 (c) “Cause”, when used in connection with
the termination of a Management Stockholders’ Employment, shall have the meaning set forth in any effective employment agreement or, if none, shall mean, unless otherwise provided in any applicable stock option grant agreement entered between
the Company and the Management Stockholder with respect to any Options that may be granted under the Plan, the termination of the Management Stockholder’s Employment with the Company and all Affiliates on account of (i) a failure of the
Management Stockholder to substantially perform his or her duties (other than as a result of physical or mental illness or injury) that has continued after Biomet, Inc. or the Company has provided written notice of such failure and the Management
Stockholder has not cured such failure within 30 days 

 
of the date of such written notice, provided that a failure to meet financial performance expectations shall not, by itself, constitute a failure by the Management Stockholder to substantially
perform his or her duties; (ii) the Management Stockholder’s willful misconduct or gross negligence; (iii) a willful or grossly negligent breach by a Management Stockholder of the Management Stockholder’s fiduciary duty or duty
of loyalty to the Company or its affiliates; (iv) the commission by the Management Stockholder of any felony or other serious crime involving moral turpitude; (v) a material breach of the Management Stockholder’s obligations under any
agreement entered into between the Management Stockholder and the Company or any of its Affiliates, which, if such breach is reasonably susceptible to cure, has continued after Biomet, Inc. or the Company has provided written notice of such breach
and the Management Stockholder has not cured such failure within 30 days of the date of such written notice; or (vii) a material breach of the Company’s written policies or procedures that have been communicated to the Management
Stockholder and that causes material harm to the Company or its business reputation. 
 (d) “Change of Control”
shall mean the occurrence of any of the following events after the Effective Time: (i) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of the Company
on a consolidated basis to any Person or group of related persons for purposes of Section 13(d) of the Exchange Act (a “Group”), together with any Affiliates thereof other than to a Majority Stockholder; (ii) the approval
by the holders of the outstanding voting power of the Company of any plan or proposal for the liquidation or dissolution of the Company; (iii) (A) any Person or Group (other than the Majority Stockholder) shall become the beneficial owner
(within the meaning of Section 13(d) of the Exchange Act), directly or indirectly, of Common Stock or common stock of Biomet Inc. (or any intermediary entity between Biomet Inc. and the Company) representing more than 40% of the aggregate
outstanding voting power of the Company, Biomet Inc. or such intermediary entity, as applicable, and such Person or Group actually has the power to vote such common stock in any such election and (B) the Majority Stockholder beneficially owns
(within the meaning of Section 13(d) of the Exchange Act), directly or indirectly, in the aggregate a lesser percentage of the voting power of the Company or Biomet Inc. (or any intermediary entity between Biomet Inc. and the Company), as
applicable, than such other Person or Group; (iv) the replacement of a majority of the Board over a two-year period from the directors who constituted the Board at the beginning of such period, and such replacement shall not have been approved
by a vote of at least a majority of the Board then still in office who either were members of such Board at the beginning of such period or whose election as a member of such Board was previously so approved or who were nominated by, or designees
of, a Majority Stockholder; (v) consummation of a merger or consolidation of the Company with another entity in which holders of the Common Stock of the Company immediately prior to the consummation of the transaction hold, directly or
indirectly, immediately following the consummation of the transaction, less than 50% of the common equity interest in the surviving corporation in such transaction and the Majority Stockholder does not hold a sufficient amount of voting power (or
similar securities) to elect a majority of the surviving entity’s board of directors or (vi) a merger, recapitalization or other direct or indirect sale by the Majority Stockholder (including through a public offering) of Common Stock that
results in more than 80% of the Common Stock of the Company (or any resulting company after 

  
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a merger) owned, directly or indirectly, by the Majority Stockholder immediately following the Closing, no longer being so owned by the Majority Stockholder. 

(e) “Code” shall mean the Internal Revenue Code of 1986, as amended. 

(f) “Disability” shall mean, unless otherwise provided in any applicable stock option grant agreement entered between
the Company and the Management Stockholder with respect to any Options that may be granted under the Plan, effective employment agreement or other written agreement, a permanent disability as defined in the Company’s or an Affiliate’s
disability plans, or as defined from time to time by the Company, in its discretion. 
 (g) “Effective Time”
shall have the meaning set forth in the Merger Agreement. 
 (h) “Employment” shall mean employment with the
Company or any Affiliate and shall include the provision of services as a director or consultant for the Company or any Affiliate. “Employee” and “Employed” shall have correlative meanings. 

(i) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

(j) “Fair Market Value” shall mean, as of any date: 

i. prior to the occurrence of an Initial Public Offering, the value per share of Common Stock determined pursuant to a
valuation made in good faith by the Board and based upon a reasonable valuation method; or 
 ii. following an
Initial Public Offering, (i) the closing price on such day of a share of Common Stock as reported on the principal securities exchange on which shares of Common Stock are then listed or admitted to trading or (ii) if not so reported, the
average of the closing bid and ask prices on such day as reported on the National Association of Securities Dealers Automated Quotation System or (iii) if not so reported, as furnished by any member of the National Association of Securities
Dealers, Inc. (“NASD”) selected by the Board. The Fair Market Value of a share of Common Stock as of any such date on which the applicable exchange or inter-dealer quotation system through which trading in the Common Stock regularly
occurs is closed shall be the Fair Market Value determined pursuant to the preceding sentence as of the immediately preceding date on which the Common Stock is traded, a bid and ask price is reported or a trading price is reported by any member of
NASD selected by the Board. In the event that the price of a share of Common Stock shall not be so reported or furnished, the Fair Market Value shall be determined by the Board in good faith to reflect the fair market value of a share of Common
Stock. 
 (k) “Good Reason” shall have the meaning set forth in any effective employment agreement or, if none,
shall mean, unless otherwise provided in any applicable stock option grant agreement entered between the Company and the Management Stockholder with respect to any Options that may be granted under the Plan, the occurrence of the following without
the Management Stockholder’s consent (i) a material diminution in a Management Stockholder’s duties and responsibilities as of the date of grant of the options, other than a 

  
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change in such Management Stockholder’s duties and responsibilities that results from becoming part of a larger organization following a Change in Control, (ii) a decrease in a
Management Stockholder’s base salary or bonus opportunity as of the date of grant of the options, other than a decrease in base salary or bonus opportunity that applies to a similarly situated class of employees of the Company or its affiliates
or (iii) a relocation of a Management Stockholder’s primary work location more than 50 miles from the Management Stockholder’s work location on the grant date of the option, without the Management Stockholder’s prior written
consent; provided that, within thirty days following the occurrence of any of the events set forth herein, the Management Stockholder shall have delivered written notice to the Company of his or her intention to terminate his or her Employment for
Good Reason, which notice specifies in reasonable detail the circumstances claimed to give rise to the Management Stockholder’s right to terminate Employment for Good Reason, and the Company shall not have cured such circumstances within thirty
days following the Company’s receipt of such notice. 
 (l) An “Initial Public Offering” shall be deemed
to occur on the effective date of the first registration statement (other than (i) a registration relating solely to an employee benefit plan or employee stock plan, a dividend reinvestment plan, or a merger or a consolidation, (ii) a
registration incidental to an issuance of securities under Rule 144A of the Securities Act, (iii) a registration on Form S-4 or any successor form, or (iv) a registration on Form S-8 or any successor form) filed to register at least 20% of
the total then-outstanding equity interests in the Company or Biomet Inc. (or any intermediary entity between Biomet Inc. and the Company) under the Securities Act. 
 (m) “Majority Stockholder,” for purposes of this Agreement, shall mean, collectively or individually as the context requires, Blackstone Group, L.P., The Goldman Sachs Group, Inc.,
Kohlberg Kravis Roberts & Co., TPG Capital, L.P. and their respective Affiliates. 
 (n) “Merger
Agreement” shall mean the Agreement and Plan of Merger by and among Biomet, Inc., LVB Acquisition LLC and LVB Acquisition Merger Sub, Inc., dated as of December 18, 2006 (amended and restated as of June 7, 2007). 

(o) “Option Shares” shall mean Shares acquired through the exercise of Options. 

(p) “Person” means an individual, partnership, corporation, limited liability company, unincorporated organization,
trust or joint venture, or a governmental agency or political subdivision thereof. 
 (q) “Rollover Shares”
shall mean Shares acquired through the rollover of shares in Biomet, Inc. and/or the investment of cash pursuant to the Rollover Agreement attached hereto as Exhibit B or through a similar one-time opportunity to purchase Shares. 

(r) “Securities Act” shall mean the Securities Act of 1933, as amended. 

  
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 (s) “Transfer” shall mean any transfer, sale, assignment, gift,
testamentary transfer, pledge, hypothecation or other disposition of any interest. “Transferee” and “Transferor” shall have correlative meanings. 

2. Investment; Issuance of Shares. 
 (a) The Management Stockholder represents that the Shares are being acquired for investment and not with a view toward the distribution thereof. 

(b) Issuance of Shares. The Management Stockholder acknowledges and agrees that the certificate for the Shares shall bear the
following legends (except that the second paragraph of this legend shall not be required after the Shares have been registered and except that the first paragraph of this legend shall not be required after the termination of this Agreement):

 The shares represented by this certificate are subject to the terms and conditions of a Management Stockholders’
Agreement dated as of November 6, 2007 and may not be sold, transferred, hypothecated, assigned or encumbered, except as may be permitted by the aforesaid Agreement. A copy of the Management Stockholders’ Agreement may be obtained from the
Secretary of the Company. 
 The shares represented by this certificate have not been registered under the Securities Act
of 1933. The shares have been acquired for investment and may not be sold, transferred, pledged or hypothecated in the absence of an effective registration statement for the shares under the Securities Act of 1933 or an opinion of counsel for the
Company that registration is not required under said Act. 
 Upon the termination of this Agreement, or upon registration of
the Shares under the Securities Act, the Management Stockholder shall have the right to exchange any Shares containing the above legend (i) in the case of the registration of the Shares, for Shares legended only with the first paragraph
described above and (ii) in the case of the termination of this Agreement, for Shares legended only with the second paragraph described above. 
 3. Transfer of Shares; Lock-Up; Call Rights; Put Rights. 
 (a) Transfer
and Lock-Up of Shares. 
 (i) The Management Stockholder agrees that he or she will not cause or permit the
Shares or his or her interest in the Shares to be sold, transferred, hypothecated, assigned or encumbered except as expressly permitted by this Section 3; provided, however, that the Shares or any such interest may be Transferred
(A) on the Management Stockholder’s death by bequest or inheritance to the Management Stockholder’s executors, administrators, testamentary trustees, legatees or beneficiaries, (B) with the prior written consent of the Board
(which consent shall not be unreasonably withheld), during the Management Stockholder’s 

  
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lifetime for estate planning purposes and (C) in accordance with Section 4 of this Agreement, subject in each case to (x) paragraph (ii) of this Section 3(a),
(y) compliance with all applicable tax, securities and other laws and (z) the agreement by each Transferee (other than the Company or as otherwise permitted by the Company) in writing to be bound by the terms of this Agreement as if such
Transferee had been an original signatory hereto and provided in any such case that, in the case of a Transfer pursuant to clauses (A) or (B) above, such Transfer will not be permitted if it would cause the Company to be required to
register the Common Stock under Section 12(g) of the Exchange Act. 
 (ii) The Management Stockholder agrees
that, notwithstanding any provision in this Agreement to the contrary, he or she will not, without the prior written consent of the Board, during the period following an Initial Public Offering or any secondary registered equity offering during
which the Majority Stockholders are subject to underwriter-imposed restrictions on the transfer of shares of Common Stock (the “Lock-Up Period”), (A) offer, pledge, announce the intention to sell, sell, contract to sell, sell
any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any Shares, Options or other securities convertible into or
exercisable or exchangeable for Common Stock (including without limitation, Common Stock which may be deemed to be beneficially owned by such Management Stockholder in accordance with the rules and regulations of the Securities and Exchange
Commission) or (B) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause (A) or (B) above is to
be settled by delivery of Common Stock or such other securities, in cash or otherwise, provided that such restrictions shall be no more onerous than those applicable to the Majority Stockholders. 

(iii) If the Company files a registration statement registering shares held by the Majority Stockholder in an Initial
Public Offering or any secondary registered equity offering, then the Management Stockholder or his or her Transferee shall have the right, following expiration of the Lock-Up Period, to sell (subject to Section 4(b)(iii) hereof) a number of
Shares of Common Stock, not to exceed the product of (A) the total number of Shares, including any shares of Common Stock underlying vested Options, owned by the Management Stockholder or Transferee as of the date such registration statement
was filed and (B) a fraction, the numerator of which is the aggregate number of Shares of Common Stock in which the Majority Stockholder has a pecuniary interest that the Company has registered, and the denominator of which is the aggregate
number of Shares of Common Stock in which the Majority Stockholder had a pecuniary interest as of the date such registration statement was filed. 
 (b) Call Rights. 
 (i) Except as provided in paragraphs (ii) and
(iii) of this Section 3(b), in the event the Management Stockholder’s Employment with the Company terminates for any reason prior to the Agreement Termination Date (as hereinafter defined), the Company (or its designated assignee)
shall have the right, during the 180-day period following the later to occur of (A) such termination of Employment and (B) the date on which the Management Stockholder or Transferee has held the Shares most recently acquired to be sold
pursuant to this Section 

  
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3(b)(i) for at least six (6) months, to purchase from the Management Stockholder or the Management Stockholder’s Transferee, and upon the exercise of such right the Management
Stockholder or such Transferee shall sell to the Company (or its designated assignee), all or any portion of the Shares held by the Management Stockholder or Transferee as of the date as of which such right is exercised at a per Share price equal to
the Fair Market Value of a share of Common Stock determined as of the date such right is exercised, provided that if such termination of the Management Stockholder’s Employment occurs due to the Management Stockholder’s death or
Disability or is effected by the Company without Cause or by the Management Stockholder for Good Reason, the call right described in this paragraph (i) shall not apply with respect to such Management Stockholder’s Rollover Shares.

 (ii) In the event that either the Management Stockholder’s Employment with the Company is terminated for Cause or the
Management Stockholder violates any of the restrictive covenants set forth in the Plan or in any equity award grant agreement under the Plan: 
 (A) in either case prior to the Agreement Termination Date, the Company (or its designated assignee) shall have the right, during the 180-day period following the latest to occur of (x) such
termination of Employment, (y) such violation of a restrictive covenant and (z) the date on which the Management Stockholder or Transferee has held the Shares most recently acquired to be sold pursuant to this Section 3(b)(ii) for at
least six (6) months, to purchase from the Management Stockholder or the Management Stockholder’s Transferee, and upon the exercise of such right the Management Stockholder or such Transferee shall sell to the Company (or its designated
assignee), all or any portion of the Shares held by the Management Stockholder or Transferee as of the date as of which such right is exercised at a per Share price equal to (I) in the case of a Rollover Share, the Fair Market Value of such
Share determined as of the date such right is exercised or (II) in the case of an Option Share, the lesser of (a) the Fair Market Value of a share of Common Stock determined as of the date such right is exercised or (b) the exercise price
per Share paid by the Management Stockholder to acquire such Share; or 
 (B) in either case following the Agreement Termination
Date, the Management Stockholder shall be obligated to pay to the Company an amount equal to the amount which, as a result of such Management Stockholder’s exercise of Options at any time following, or within one year prior to, the date of
termination of his or her Employment, such Management Stockholder was required to recognize as income for U.S. federal income tax purposes (or would have been required to recognize as income if the Management Stockholder was subject to U.S. federal
income taxes). 
 (iii) In the event that the Management Stockholder resigns from Employment with the Company without Good
Reason prior to the fifth anniversary of the Effective Time, the Company (or its designated assignee) shall have the right, during the 180-day period following the later to occur of (A) such termination of Employment and (B) the date on
which the Management Stockholder or Transferee has held the Shares most recently acquired to be sold pursuant to this Section 3(b)(iii) for at least six (6) months, to purchase from the Management Stockholder or the Management
Stockholder’s Transferee, and upon the exercise of such right the Management Stockholder or such Transferee shall sell to the Company (or its designated assignee), all or any portion of the Shares held by the Management Stockholder or
Transferee as of the date as of which such right is exercised at a per Share price equal to (I) in the case of a 

  
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Rollover Share, the Fair Market Value of a share of Common Stock determined as of the date such right is exercised or (II) in the case of an Option Share, an amount equal to (a) the Fair
Market Value of a share of Common Stock determined as of the date such right is exercised less (b) the amount equal to 20% of the amount (if any) by which the Fair Market Value of a share of Common Stock determined as of the date such right is
exercised exceeds the Exercise Price per share of Common Stock (as defined under the Plan or any successor plan). 
 (iv) The
Company (or its designated assignee) shall exercise the call rights described in this Section 3(b) by delivering to the Management Stockholder or Transferee, as applicable, a written notice specifying its intent to purchase Shares held by the
Management Stockholder or Transferee (the “Call Notice”) and the number of Shares to be purchased. The Company’s call right shall be deemed exercised as of the date on which the Company delivers such Call Notice to the
Management Stockholder or Transferee. Such purchase and sale shall occur on such date as the Company (or its designated assignee) shall specify, which date shall be no later than forty-five (45) days after the end of the fiscal quarter in which
the Call Notice is delivered. The Company will use commercially reasonable efforts to make the payment for the Shares in cash on the date of such purchase and sale; provided that, despite using such efforts, if such payment will result in the
violation of the terms or provisions of, or result in a default or event of default under, any guarantee, financing or security agreement or document entered into by the Company or any of its Affiliates and in effect on such date (hereinafter a
“Financing Agreement”), the Company may delay any such payment for no more than two (2) years. In the event the payment of the purchase price is delayed as a result of a restriction imposed by a Financing Agreement as provided
above, such payment shall be made without the application of further conditions or impediments as soon as practicable after the payment of such purchase price would no longer result in the violation of the terms or provisions of, or result in a
default or event of default under, any Financing Agreement, and such payment shall equal the amount that would have been paid to the Management Stockholder or Transferee if no delay had occurred plus interest for the period from the date on which
the purchase price would have been paid but for the delay in payment provided herein to the date on which such payment is made (the “Delay Period”), calculated at an annual rate equal to the average annual prime rate charged during
the Delay Period by a nationally recognized bank designated by the Board plus two (2) percentage points. In the event that the Company is not able to make payment within two (2) years after the date specified in the Call Notice, the
Company will, upon the written request of the Management Stockholder or Transferee, cancel the Call Notice and return to the Management Stockholder or Transferee the Shares subject to the Call Notice (as adjusted to take into account any corporate
transactions during the intervening period) in exchange for cancellation of the debt and any interest payments that would otherwise have been payable thereon. 
 (v) In the event that the Company exercises its call right to purchase Shares from the Management Stockholder under Section 3(b)(i) or Section 3(b)(iii) and, following the date that the Company
pays the Management Stockholder the applicable purchase price for such Shares, the Management Stockholder violates any of the restrictive covenants set forth in the Plan or in any equity award grant agreement under the Plan, the Management
Stockholder or the Management Stockholder’s Transferee shall pay to the Company, within ten (10) business days following the date of such violation, an amount equal to (A) the amount the Company paid the Management Stockholder or
Transferee to purchase such Shares less (B) the amount the 

  
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Company would have been required to pay the Management Stockholder or Transferee for such Shares if the Company had purchased the Shares pursuant to Section 3(b)(ii)(A). 

(c) Put Right. (i) In the event that, prior to the Agreement Termination Date, the Management Stockholder’s Employment
with the Company terminates due to the Management Stockholder’s death or Disability, such Management Stockholder or her or his Transferee (as applicable) shall have the right, during the 180-day period following the later to occur of
(x) such termination of Employment and (y) the date on which the Management Stockholder or Transferee has held the Shares most recently acquired to be sold pursuant to this Section 3(c)(i) for at least six (6) months, to sell to
the Company (or its designated assignee), and upon the exercise of such right the Company (or its designated assignee) shall purchase from the Management Stockholder or Transferee, all or any portion of the Shares held by the Management Stockholder
or Transferee as of the date on which such right is exercised at a per Share price equal to the Fair Market Value of a Share of Common Stock determined as of the date such right is exercised. The Management Stockholder or Transferee shall exercise
such right by delivering to the Company a written notice (the “Put Notice”) specifying his or her intent to sell Shares held by the Management Stockholder or Transferee and the number of Shares to be sold. The Management
Stockholder’s or Transferee’s put right shall be deemed exercised as of the date on which the Management Stockholder or Transferee delivers such Put Notice to the Company. Such purchase and sale shall occur on such date as the Company (or
its designated assignee) shall specify, which date shall be no later than forty-five (45) days after the end of the fiscal quarter in which the Put Notice is delivered. The Company will use commercially reasonable efforts to make the payment
for the Shares in cash on the date of such purchase and sale; provided that, despite using such efforts, if such payment will result in the violation of the terms or provisions of, or result in a default or event of default under, any
Financing Agreement, the Company may delay any such payment until such restriction lapses as provided below. In the event the payment of the purchase price is delayed as a result of a restriction imposed by a Financing Agreement as provided above,
the Company shall notify the Management Stockholder or Transferee as soon as practicable of the need for such a delay (the “Delay Notice”), and shall permit the Management Stockholder or Transferee, within ten (10) days of the
delivery of the Delay Notice, to rescind the Put Notice. If the Management Stockholder or Transferee does not rescind the Put Notice as provided in the preceding sentence, the Put Notice shall remain outstanding and any payment in respect thereof
shall be made without the application of further conditions or impediments as soon as practicable after the payment of such purchase price would no longer result in the violation of the terms or provisions of, or result in a default or event of
default under, any Financing Agreement, and such payment shall equal the amount that would have been paid to the Management Stockholder or Transferee if no delay had occurred plus interest for the Delay Period, calculated at an annual rate equal to
the average annual prime rate charged during the Delay Period by a nationally recognized bank designated by the Board plus two (2) percentage points 
 4. Certain Rights. 
 (a) Drag Along Rights. If one or more Majority
Stockholder desires to (i) sell, prior to the Agreement Termination Date, forty percent (40%) or more of its direct or indirect pecuniary interest (as defined in Rule 16a-1 under the Exchange Act) in any Shares of Common Stock (including
through the disposition of interests in LVB Acquisition Holding, LLC 

  
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(“LVB LLC”)), in a single transaction or a series of related transactions, to a good faith independent purchaser (a “Purchaser”) (other than any other Majority
Stockholder, other investment partnership, limited liability company or other entity established for investment purposes and controlled by one or more of the members (other than passive investors) or the principals of the Majority Stockholder or any
of their Affiliates and other than any Employees of the Majority Stockholder or their Affiliates, hereinafter referred to as a “Permitted Transferee”) upon such terms and conditions as agreed to with the Majority Stockholder, the
Management Stockholder or Transferee agrees, at the request of the Majority Stockholder, to sell to such Purchaser a number of its Shares of Common Stock, not to exceed (a) the number of Shares of Common Stock held by such Management
Stockholder or Transferee multiplied by (b) a fraction, the numerator of which is the aggregate number of Shares of Common Stock in which the Majority Stockholder has a pecuniary interest that such Majority Stockholder has proposed to be
transferred, and the denominator of which is the aggregate number of Shares of Common Stock in which the Majority Stockholder has a pecuniary interest (or to vote such number of Shares in favor of any merger or other transaction which would effect a
sale of such Shares) at the same price per share of Common Stock and pursuant to the same terms and conditions with respect to payment for the Shares as agreed to by the Majority Stockholder; provided that, except with respect to any
liability incurred by such Management Stockholder or any Transferee individually, the Management Stockholders and any Transferees shall not be liable to a Purchaser for an amount greater than the proceeds from the sale. In such case, the Majority
Stockholder shall give written notice of such sale to the Management Stockholder or Transferee at least fifteen (15) days prior to the consummation of such sale, setting forth (i) the consideration to be received by the holders of shares
of Common Stock, (ii) the identity of the Purchaser, (iii) any other material terms and conditions of the proposed Transfer and (iv) the date of the proposed Transfer. The Company shall be responsible for the proportionate share of
the costs of the proposed Transfer incurred by the Management Stockholders and any Transferees to the extent not paid or reimbursed by the proposed Purchaser. Notwithstanding the foregoing, the Management Stockholder shall not be required to agree
to any additional non-compete or similar restrictions in connection with the sale. 
 (b) Tag Along Rights. 

(i) Subject to paragraph (iv) of this Section 4(b), if one or more Majority Stockholder or its Permitted Transferee proposes to
transfer, prior to the Agreement Termination Date, its direct or indirect pecuniary interest (as defined in Rule 16a-1 under the Exchange Act) in any Shares of Common Stock (including through the disposition of interests in LVB LLC) to a Purchaser
(other than a Permitted Transferee), other than a transfer through an Initial Public Offering or any secondary registered equity offering, then the Majority Stockholder or his or her Permitted Transferee (hereinafter referred to as a
“Selling Stockholder”) shall give written notice of such proposed transfer to the Management Stockholder or Transferee (the “Selling Stockholder’s Notice”) at least thirty (30) days prior to the
consummation of such proposed transfer, and shall provide notice to all other stockholders of the Company to whom the Majority Stockholder has granted similar “tag-along” rights (such stockholders together with the Management Stockholder
or Transferee, referred to herein as the “Other Stockholders”) setting forth the proposed material terms and conditions of such Transfer (including price per Share). 

  
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 (ii) The Management Stockholder or Transferee shall have the right to elect, by delivery of
written notice to the Majority Stockholder within twenty (20) days from delivery of the Selling Stockholder’s Notice, to sell to the proposed Transferee a number of its Shares of Common Stock, not to exceed the product of (A) the
total number of Shares, including any shares of Common Stock underlying vested Options (or options that would become vested in connection with the proposed transfer), owned by the Management Stockholder or Transferee and (B) a fraction, the
numerator of which is the aggregate number of Shares of Common Stock in which the Majority Stockholder has a pecuniary interest that such Majority Stockholder has proposed to be transferred, and the denominator of which is the aggregate number of
Shares of Common Stock in which the Majority Stockholder has a pecuniary interest (the Management Stockholder’s or Transferee’s “Pro Rata Amount”), on the same terms and conditions (including price per share of Common
Stock) as agreed to by the Selling Stockholder. In the event that the Transferee does not wish to acquire all of the Shares offered by the Management Stockholder or Transferee, the number of Shares of Common Stock to be purchased by such Transferee
shall be allocated pro rata among the Majority Stockholders and the Other Stockholders in accordance with the number of Shares of Common Stock and Shares underlying vested Options that each such stockholder elected to transfer to the Transferee.

 (iii) In order to be entitled to exercise its rights pursuant to this Section 4(b), the Management Stockholder or
Transferee must agree to make to the proposed Purchaser representations, warranties, covenants, indemnities and agreements comparable to those made by the Selling Stockholder in connection with the proposed transfer and agree to the same conditions
to the proposed transfer as the Selling Stockholder agrees, it being understood that all such representation, warranties, covenants, indemnities and agreements shall be made by the Selling Stockholder, the Management Stockholder or Transferee and
any Other Stockholder exercising similar tag-along rights severally and not jointly provided that the Selling Stockholder shall not be required to agree to any additional non-compete or similar restrictions in connection with the sale. The Selling
Stockholder, the Management Stockholder or Transferee and any Other Stockholder who exercises similar tag-along rights each shall be responsible for its proportionate share of the costs of the proposed Transfer to the extent not paid or reimbursed
by the proposed Purchaser or the Company. 
 (iv) In connection with the exercise of its tag-along rights under paragraph
(ii) of this Section 4(b), or its transfer rights under Section 3(a)(iii), if the Management Stockholder or Transferee desires to exercise vested Options to acquire up to the number of Shares the Management Stockholder or Transferee
is permitted to sell pursuant to the exercise of its tag-along rights under paragraph (ii) of this Section 4(b), or its transfer rights under Section 3(a)(iii), the Company will permit the Management Stockholder or Transferee, to the
extent permitted under the Plan, to exercise any such vested Options through net-physical settlement (net of the applicable exercise price and applicable withholding taxes) if the Company’s independent auditors determine that net-physical
settlement of any such Options would not produce less-favorable accounting consequences for the Company than if the Management Stockholder or Transferee paid the exercise price for any such vested Options in cash. 

(v) Notwithstanding anything to the contrary contained herein, the provisions of this Section 4(b) shall not apply during the period
from the Effective Time through the first anniversary of the Effective Time to any sale or transfer by a Majority Stockholder of its 

  
 11 

 
pecuniary interest in any Shares of Common Stock (including through the disposition of interests in LVB LLC) for a price that is equal to or less than the Fair Market Value of such Share of
Common Stock as of the Effective Time unless and until the Majority Stockholder, after giving effect to the proposed sale or transfer, shall have sold or transferred in the aggregate (other than to Permitted Transferees or to officers, employees or
directors of, or consultants to, the Company or any of its subsidiaries) its pecuniary interest in Shares of Common Stock representing 15.0% or more of the Shares of Common Stock in which the Majority Stockholder collectively had a pecuniary
interest as of the Effective Time. 
 (c) Permitted Transferees. Any Permitted Transferee to which a Majority
Stockholder’s pecuniary interest in any Shares of Common Stock (including interests in LVB LLC) is Transferred shall agree to execute this Agreement as a condition to such Transfer. 

5. Registration. The Company shall have no obligation to register the Shares. 

6. Termination. This Agreement shall terminate with respect to the Common Stock immediately following the later to occur of
(a) an Initial Public Offering or (b) the fifth anniversary of the Effective Time (the “Agreement Termination Date”) except that (i) if an Initial Public Offering has occurred on or prior to the Agreement Termination
Date, and the Lockup Period has not expired as of the Agreement Termination Date, the requirements of Sections 3(a)(ii) and 5(b) hereof shall survive the termination of this Agreement, (ii) the provisions of Section 3(b)(ii)(B) hereof
shall survive the termination of this Agreement and (iii) the requirements contained in Section 2 hereof shall survive the termination of this Agreement, provided that a Management Stockholder or his or her Transferee may sell
Shares pursuant to Rule 144 of the Securities Act if such Management Stockholder or Transferee meets and complies with all of the applicable requirements thereof. 
 7. Acknowledgements of the Management Stockholder, LVB Acquisition Holding, LLC and the Company. 
 (a) The Management Stockholder acknowledges that the Majority Stockholder will own interests in LVB LLC and will own its shares of Common Stock through LVB LLC, and that the Majority Stockholder will have
governance and other rights with respect to the Company that are different from (and may be greater than) the rights to which the Management Stockholder is entitled. 
 (b) The Company and LVB LLC hereby acknowledge that the Management Stockholders shall not be economically disadvantaged with respect to the Shares or Options solely by reason of holding shares or options
to purchase shares of the Company’s Common Stock instead of membership interests or options to purchase membership interests in LVB LLC. In the event there is a corporate transaction affecting the membership interests of LVB LLC or any dividend
or distribution made to holders of the membership interests in LVB LLC in respect of such interests, the Company and LVB LLC shall take commercially reasonable steps to assure that appropriate adjustments and/or dividends or distributions are made
to or in respect of the Shares such that the Management Stockholders will be in the same economic position in which they would have been had they received membership interests in LVB LLC instead of the

  
 12 

 
Shares; provided that this Section 7 shall not be construed to entitle any Management Stockholder to any membership or other interests in LVB LLC. For purposes of this Agreement, no
Management Stockholder shall be deemed to be economically disadvantaged from a tax perspective by reason of his holding Options or Shares as opposed to membership interests in a limited liability company or partnership interests in a partnership.

 8. Distributions With Respect To Shares. As used herein, the term “Shares” includes securities of any
kind whatsoever distributed with respect to the Company’s Common Stock acquired by the Management Stockholder or his or her or her Transferee (whether pursuant to the Plan, the letter agreement dated on or about August 27, 2007 between the
Company and such Management Stockholder or otherwise) or any such securities resulting from a stock split or consolidation involving such Common Stock. 
 9. Amendment; Assignment. This Agreement may be amended, superseded, canceled, renewed or extended, and the terms hereof may be waived, only by a written instrument signed by authorized
representatives of the parties or, in the case of a waiver, by an authorized representative of the party waiving compliance. No such written instrument shall be effective unless it expressly recites that it is intended to amend, supersede, cancel,
renew or extend this Agreement or to waive compliance with one or more of the terms hereof, as the case may be. Except for the Management Stockholder’s right to assign his or her rights under Section 4(a) or the Company’s right to
assign its rights under Section 4(b), no party to this Agreement may assign any of its rights or obligations under this Agreement without the prior written consent of the other parties hereto. 

10. Notices. Each notice and other communication hereunder shall be in writing and shall be given and shall be deemed to have been
duly given on the date it is delivered in person, on the next business day if delivered by overnight mail or other reputable overnight courier, or the third business day if sent by registered mail, return receipt requested, to the parties as
follows: 
 If to the Majority Stockholder, to his or her most recent address shown on records of the Company or its
Affiliate; 
 With a copy to: 
 Cleary Gottlieb Steen & Hamilton LLP 
 One Liberty Plaza 

New York, NY 10006 
 Attention: Robert J. Raymond 
 If to the Company, to: 

LVB Acquisition, Inc. 
 c/o Biomet, Inc. 
 P.O. Box 587 

Warsaw, Indiana 46581-0587, U.S.A. 
 Attention: General Counsel 

  
 13 

 With a copy to: 

Cleary Gottlieb Steen & Hamilton LLP 
 One Liberty Plaza 
 New York, NY 10006 

Attention: Robert J. Raymond 
 If to the Management Stockholder, to its most recent address shown on records of the Company or its Affiliate; 
 or in each case to such other address as any party may have furnished to the others in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt.

 11. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an
original, but all of which together shall constitute one and the same document. 
 12. Governing Law. This Agreement
shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to its principles of conflicts of law. 
 13. Binding Effect. This Agreement shall be binding upon, inure to the benefit of, and be enforceable by the heirs, personal representatives, successors and permitted assigns of the parties hereto.
Nothing expressed or referred to in this Agreement is intended or shall be construed to give any person other than the parties to this Agreement, or their respective heirs, personal representatives, successors or assigns, any legal or equitable
rights, remedy or claim under or in respect of this Agreement or any provision contained herein. 
 14. Entire Agreement.
This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof. 
 15.
Severability. If any term, provision, covenant or restriction of this Agreement, is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this
Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated. 
 16.
Miscellaneous. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
 * * * * * * 
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be duly executed as of the day and year first above written. 

  
 14 

 
			
	LVB ACQUISITION, INC.
		
	By:	 	/s/ Bradley J. Tandy
	Name:	 	Bradley J. Tandy
	Title:	 	Senior Vice President, General Counsel & Secretary

  

			
	LVB ACQUISITION HOLDINGS, LLC
		
	By:	 	/s/ John Saer
	Name:	 	John Saer
	Title:	 	Director

 
					
	BLACKSTONE CAPITAL PARTNERS V L.P.
		
	By:	 	Blackstone Management Associates V L.L.C.,
		 	Its General Partner
		
	By:	 	/s/ Chinh E. Chu
		 	Name:	 	Chinh E. Chu
		 	Title:	 	Senior Managing Director

  

					
	BLACKSTONE CAPITAL PARTNERS V-AC L.P.
		
	By:	 	/s/ Chinh E. Chu
		 	Name:	 	Chinh E. Chu
		 	Title:	 	Senior Managing Director

  

					
	BCP V-S L.P.
		
	By:	 	/s/ Chinh E. Chu
		 	Name:	 	Chinh E. Chu
		 	Title:	 	Senior Managing Director

  

					
	BLACKSTONE FAMILY INVESTMENT PARTNERSHIP V L.P.
		
	By:	 	/s/ Chinh E. Chu
		 	Name:	 	Chinh E. Chu
		 	Title:	 	Senior Managing Director

  

					
	BLACKSTONE FAMILY INVESTMENT PARTNERSHIP V-A L.P.
		
	By:	 	/s/ Chinh E. Chu
		 	Name:	 	Chinh E. Chu
		 	Title:	 	Senior Managing Director

 
					
	BLACKSTONE PARTICIPATION PARTNERSHIP V L.P.
		
	By:	 	/s/ Chinh E. Chu
		 	Name:	 	Chinh E. Chu
		 	Title:	 	Senior Managing Director

  

					
	BCP V CO-INVESTORS L.P.
		
	By:	 	/s/ Chinh E. Chu
		 	Name:	 	Chinh E. Chu
		 	Title:	 	Senior Managing Director

  

					
	GS CAPITAL PARTNERS VI FUND, L.P.
		
	By:	 	GS Advisors VI, L.L.C., its General Partner
		
	By:	 	/s/ Adrian Jones
		 	Name:	 	Adrian Jones
		 	Title:	 	Managing Director

  

					
	GS CAPITAL PARTNERS VI PARALLEL, L.P.
		
	By:	 	GS Advisors VI, L.L.C., its General Partner
		
	By:	 	/s/ Adrian Jones
		 	Name:	 	Adrian Jones
		 	Title:	 	Managing Director

  

					
	GS CAPITAL PARTNERS VI OFFSHORE FUND, L.P.
		
	By:	 	 GSCP VI Offshore Advisors, L.L.C.,
 its General Partner

		
	By:	 	/s/ Adrian Jones
		 	Name:	 	Adrian Jones
		 	Title:	 	Managing Director

 
					
	GS CAPITAL PARTNERS VI GMBH & CO. KG
		
	By:	 	GS Advisors VI, L.L.C., its Managing Limited Partner
		
	By:	 	/s/ Adrian Jones
		 	Name:	 	Adrian Jones
		 	Title:	 	Managing Director

  

					
	GOLDMAN SACHS BMET INVESTORS, L.P.
		
	By:	 	GS BMET ADVISORS, L.L.C.,
as General Partner
		
	By:	 	/s/ Adrian Jones
		 	Name:	 	Adrian Jones
		 	Title:	 	Managing Director

  

					
	GOLDMAN SACHS BMET INVESTORS OFFSHORE HOLDINGS, L.P.
		
	By:	 	GS BMET OFFSHORE ADVISORS, INC.,
as General Partner
		
	By:	 	/s/ Adrian Jones
		 	Name:	 	Adrian Jones
		 	Title:	 	Managing Director

  

					
	GS PEP BASS HOLDINGS, L.L.C.
		
	By:	 	GSAM GEN-PAR, L.L.C., its Manager
		
	By:	 	/s/ Adrian Jones
		 	Name:	 	Adrian Jones
		 	Title:	 	Managing Director

 
					
	GOLDMAN SACHS PRIVATE EQUITY PARTNERS, 2004-DIRECT INVESTMENT FUND, L.P.
		
	By:	 	 GOLDMAN SACHS PEP 2004 DIRECT INVESTMENT ADVISORS, L.L.C.,
 as General Partner

		
	By:	 	 GSAM GEN-PAR, L.L.C.,
 its Managing Member

		
	By:	 	/s/ Adrian Jones
		 	Name:	 	Adrian Jones
		 	Title:	 	Managing Director

  

					
	GOLDMAN SACHS PRIVATE EQUITY PARTNERS, 2005-DIRECT INVESTMENT FUND, L.P.
		
	By:	 	 GOLDMAN SACHS PEP 2005 DIRECT INVESTMENT ADVISORS, L.L.C.,
 as General Partner

		
	By:	 	 GSAM GEN-PAR, L.L.C.,
 its Managing Member

		
	By:	 	/s/ Adrian Jones
		 	Name:	 	Adrian Jones
		 	Title:	 	Managing Director

  

					
	GOLDMAN SACHS PRIVATE EQUITY PARTNERS, IX-DIRECT INVESTMENT FUND, L.P.
		
	By:	 	 GOLDMAN SACHS PEP IX DIRECT INVESTMENT ADVISORS, L.L.C.,
 as General Partner

		
	By:	 	 GSAM GEN-PAR, L.L.C.,
 its Managing Member

		
	By:	 	/s/ Adrian Jones
		 	Name:	 	Adrian Jones
		 	Title:	 	Managing Director

 
					
	GS LVB CO-INVEST, L.P.
		
	By:	 	GS LVB ADVISORS, L.L.C., as General Partner
		
	By:	 	/s/ Adrian Jones
		 	Name:	 	Adrian Jones
		 	Title:	 	Managing Director

  

					
	KKR BIOMET, LLC
		
	By:	 	/s/ John Saer
		 	Name:	 	John Saer
		 	Title:	 	Director

  

					
	TPG PARTNERS IV, L.P.
		
	By:	 	TPG GenPar IV, L.P., its General Partner
		
	By:	 	TPG Advisors IV, Inc., its General Partner
		
	By:	 	/s/ Clive D. Bode
		 	Name:	 	Clive D. Bode
		 	Title:	 	Vice President

  

					
	TPG PARTNERS V, L.P.
		
	By:	 	TPG GenPar V, L.P., its General Partner
		
	By:	 	TPG Advisors V, Inc., its General Partner
		
	By:	 	/s/ Clive D. Bode
		 	Name:	 	Clive D. Bode
		 	Title:	 	Vice President

  

					
	TPG FOF V-A, L.P.
		
	By:	 	TPG GenPar V, L.P., its General Partner
		
	By:	 	TPG Advisors V, Inc., its General Partner
		
	By:	 	/s/ Clive D. Bode
		 	Name:	 	Clive D. Bode
		 	Title:	 	Vice President

 
					
	TPG FOF V-B, L.P.
		
	By:	 	TPG GenPar V, L.P., its General Partner
		
	By:	 	TPG Advisors V, Inc., its General Partner
		
	By:	 	/s/ Clive D. Bode
		 	Name:	 	Clive D. Bode
		 	Title:	 	Vice President

  

					
	TPG LVB CO-INVEST LLC
		
	By:	 	TPG GenPar V, L.P., its Managing Member
		
	By:	 	TPG Advisors V, Inc., its General Partner
		
	By:	 	/s/ Clive D. Bode
		 	Name:	 	Clive D. Bode
		 	Title:	 	Vice President

  

					
	TPG LVB CO-INVEST II LLC
		
	By:	 	TPG GenPar V, L.P., its Managing Member
		
	By:	 	TPG Advisors V, Inc., its General Partner
		
	By:	 	/s/ Clive D. Bode
		 	Name:	 	Clive D. Bode
		 	Title:	 	Vice President

 I hereby represent that I have carefully read and understand, and agree to be bound by, the terms of the LVB
Acquisition, Inc. Management Stockholders’ Agreement dated as of November 6, 2007. 
  

	
	Agreed to and Accepted by:
	
	  
	Signature
	
	  
	Date
	
	Please print your name and address:
	
	  
	  
	  
	  

 EXHIBIT A 
 MANAGEMENT STOCKHOLDERS 
  

			
	 Name
	  	Date Management Stockholders’
Agreement Executed
		  	
		  	
		  	
		  	
		  	
		  	
		  	
		  	
		  	
		  	
		  	

 EXHIBIT B 
 LVB, ACQUISITION, INC. 
 October 31, 2007 

Re: Opportunity to Acquire Shares 
 Dear
Biomet, Inc. Team Member, 
 As you know, Biomet, Inc. (“Biomet”) has recently undergone a change of control,
and 100% of its outstanding shares are now owned by LVB Acquisition, Inc. (“LVB”). We are pleased to offer you the opportunity to invest in shares of common stock of LVB (the “Shares”) on the terms and conditions
set out below by making a cash contribution as described in Section 2 (your “Cash Contribution”). 
 1. Sale and
Purchase of Shares. By completing and returning the Acceptance Form attached hereto, you agree to invest in LVB your Cash Contribution in the amount specified therein (or such lesser amount as LVB may permit you to invest, as described in
Section 3 below). In exchange for your Cash Contribution, you will receive a number of Shares equal to the amount of your Cash Contribution, as indicated on the Acceptance Form attached hereto (or such lesser amount as LVB may permit you to
invest, as described in Section 3 below), divided by $10, which is equal to the price per Share paid by the Majority Holders (as defined below) for their Shares. You will be the holder of record of the Shares in which you invest, whether or not
LVB issues physical certificates to you for such Shares. 
 2. Form of Consideration. If you choose to invest in the Shares, you
must commit to invest a minimum of $25,000. Your Cash Contribution must be received by LVB by no later than 5:00 p.m. (Five p.m., Eastern Daylight Savings Time) on Friday, November 30, 2007. Cash Contributions must be made via wire transfer
to the following account at Bank of America: 
 Account Name: LVB Acquisition, Inc. 

Account Number: 4426466240 
 ABA Routing #: 026009593 
 Account Address (if needed): 100
West 33rd Street, New York, NY 10001 
 Swift Code (used by some non-US banks): BOFAUS3N 

3. Limitation. LVB, in its discretion, may limit the number of Shares that you may purchase, and therefore may choose not to accept the full
amount of the Cash Contribution that you elect to make. In the event that any portion of your subscription is not accepted, any payment submitted by you for Shares that are not issued to you will be returned to you as soon as practicable.

 4. Vesting. Your Shares when issued will be fully vested. 

  
 7 

 5. Stockholders’ Agreement. By completing and returning the Acceptance Form below, you agree to
become a party to the Management Stockholders’ Agreement, as may be amended from time to time in accordance with its terms (the “Stockholders’ Agreement”), and you will be subject to the terms and conditions thereof with
respect to your Shares. The Stockholders’ Agreement is enclosed herewith. LVB agrees that it will, and that it will cause the Majority Holders (as defined below) to, also become a party to the Stockholders’ Agreement. 

6. Representations; Acknowledgements. By signing below and completing and returning the Acceptance Form, you hereby represent and warrant to LVB
and Biomet that: 
 (i) you have the requisite power, authority and capacity to execute this Agreement, to perform your
obligations under this Agreement and to consummate the transactions contemplated hereby; 
 (ii) the Acceptance Form has been
duly and validly executed and delivered by you and constitutes your legal, valid and binding obligation, enforceable against you in accordance with its terms, except to the extent that such validly binding effect and enforceability may be limited by
applicable bankruptcy, reorganization, insolvency, moratorium and other laws relating to or affecting creditors’ rights generally; 
 (iii) the Shares are being acquired for your own account, for investment purposes only and not with a view to or in connection with any distribution, reoffer, resale, public offering or other disposition
thereof not in compliance with the Securities Act of 1933, as amended (the “Securities Act”), as may be amended from time to time, or any applicable United States federal or state securities laws or regulations; 

(iv) you possess expertise, knowledge, and sophistication in financial and business matters generally, and in the type of transaction in
which Biomet and LVB propose to engage in particular; 
 (v) you have had access to all of the information and individuals with
respect to the Shares and your investment that you deem necessary to make a complete evaluation thereof; 
 (vi) you have had an
opportunity to consult an independent tax and legal advisor and your decision to acquire the Shares for investment has been based solely upon your evaluation; 
 (vii) you are aware that you shall be solely responsible for any and all tax or other liabilities that may result from your purchase and/or ownership of the Shares; and 

(viii) you are aware that the Stockholders’ Agreement provides significant restrictions on your ability to dispose of the Shares.

 You further represent and warrant to LVB and Biomet that you 

 ̈         are 

OR 
  ̈         are not 
 an “accredited investor” as defined in Rule 501(a) under the Securities Act because you are either: 
  

	 	a.	A person whose individual net worth, or joint net worth with your spouse, exceeds $1,000,000; OR 

  
 8 

	 	b.	A person whose income exceeded $200,000 in each of the two most recent years, or joint income with your spouse exceeded $300,000 in each of those years, and you have a
reasonable expectation of reaching the same income level in this year. 

 You acknowledge and agree that if,
following the date you purchase Shares pursuant to this Agreement, we determine that any of the representations made by you under this Section 6 is inaccurate, the sale of Shares to you pursuant to this Agreement shall be rescinded and the
transfer of such Shares to you shall be deemed null and void. 
 The “Majority Holders” shall mean,
collectively or individually as the context requires, Blackstone Group, L.P., The Goldman Sachs Group, Inc., Kohlberg Kravis Roberts & Co., TPG Capital, L.P. and their respective affiliates. 

7. Governing Law. All questions concerning the construction, validity and interpretation of this Agreement will be governed by and construed in
accordance with the laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision or rule that would cause the application of the laws of any jurisdiction other than the State of Delaware. 

8. Counterparts. This Agreement may be executed in any number of counterparts, 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. 
 ***** 

[Signature Page Follows] 

  
 9 

 Please sign your name on the space provided below and please indicate whether you would like to invest in
LVB by completing and executing the Acceptance Form attached to the end of this Agreement. Please return an executed copy of this Agreement and the Acceptance Form either by mail to LVB Acquisition, Inc., c/o Bradley J. Tandy, Senior Vice President,
General Counsel & Secretary, Biomet, Inc., P.O. Box 587, Warsaw, IN 46581-0587, U.S.A. or by facsimile to (574) 372-1960 (to the attention of Brad Tandy). The Agreement and the Acceptance Form must be received by LVB by no later than
5:00 p.m. on Friday, November 30, 2007. (If you submit the Agreement and the Acceptance Form by fax, the original signed documents must be delivered to LVB by mail no later than Friday, December 7, 2007). 

 

			
	Sincerely,
	
	 
	By:	 	 
	Title:	 	 

  

			
	Agreed to and Accepted by:
		
		 	 
		 	Signature
		
		 	Please print your name and address:
		
		 	 
		
		 	 
		
		 	 
		
		 	 

  
 10 

 Acceptance of Offer to Acquire Shares of LVB (the “Acceptance Form”)

 Pursuant to the terms and conditions set forth in the letter to me dated October 31, 2007, I,
            , hereby elect make an investment in LVB by purchasing Shares in the amount of $             (cannot be
less than $25,000). 
  

	
	
	  
	Signature
	
	  
	Date

  
 11Employment Agreement

 Exhibit 10.18 
 EMPLOYMENT AGREEMENT 
 This EMPLOYMENT AGREEMENT
(“Agreement”), dated as of August 30, 2010, is made by and between Biomet, Inc., an Indiana corporation (the “Company”), and Renaat Vermeulen (the “Executive”). 

WHEREAS, the Company desires to appoint the Executive, and the Executive desires to be engaged by the Company, as Senior Vice President
of the Company; and 
 WHEREAS, the Company and the Executive desire to enter into this Agreement to set out the terms and
conditions for the employment relationship of the Executive with the Company. 
 NOW, THEREFORE, in consideration of the mutual
covenants and agreements set forth herein and for other good and valuable consideration, the receipt and sufficiency of which hereby are acknowledged, the parties hereto agree as follows: 

1. Employment Agreement. On the terms and conditions set forth in this Agreement, the Company agrees to employ the Executive and
the Executive agrees to be employed by the Company for the Employment Period set forth in Section 2 and in the positions and with the duties set forth in Section 3. Terms used herein with initial capitalization not otherwise
defined are defined in Section 21. The Company and the Executive acknowledge and agree that the Executive commenced his position as described herein on July 12, 2010 (the “Effective Date”). 

2. Term. The initial term of employment under this Agreement shall be for a three-year period commencing on the Effective Date
(the “Initial Term”). The term of employment shall be automatically extended for an additional consecutive 12-month period (the “Extended Term”) on the first anniversary of the Effective Date and each subsequent
anniversary of the Effective Date, unless and until the Company or Executive provides written notice to the other party in accordance with Section 9 hereof not less than 90 days before such anniversary date that such party is electing
not to extend the term of employment under this Agreement (“Non-Renewal”), in which case the term of this Agreement shall end as of the end of such Initial Term or Extended Term, as the case may be, unless sooner terminated as
hereinafter set forth. Such Initial Term and all such Extended Terms, as sooner terminated as hereinafter set forth, are collectively referred to herein as the “Employment Period.” 

3. Position and Duties. During the Employment Period, the Executive shall serve as Senior Vice President of the Company. In such
capacity, the Executive shall report to the Company’s President and Chief Executive Officer. During the Employment Period, the Executive shall have the powers and authority customarily exercised by individuals serving as Senior Vice President
of a major business unit of a company of the size and nature of the Company and shall travel to the United States on a regular basis to attend regular meetings related to his area of duties as well as quarterly meetings of the Senior Management team
of the Company. The Executive shall devote the Executive’s reasonable best efforts to the performance of the Executive’s duties hereunder and the advancement of the business and affairs of the

 
Company; provided that the Executive shall be entitled to serve as a member of the board of directors of another company approved by the Board, to serve on civic, charitable, educational,
religious, public interest or public service boards approved by the Board, and to manage the Executive’s personal and family investments, in each case, to the extent such activities do not, individually or in the aggregate, materially interfere
with the performance of the Executive’s duties and responsibilities hereunder. 
 4. Place of Performance. During
the Employment Period, the Executive shall perform his duties in the United States at any of the offices of the Company, any of its Affiliates located therein, or any other location designated by the Company. 

5. Compensation and Benefits 
 (a) Base Compensation. For services performed during the Employment Period, the Company has granted to the Executive an option to acquire 400,000 shares of Common Stock pursuant to the Stock Option
Grant Agreement dated as of August 9, 2010 (the “Option Agreement”), a copy of which is attached to this Agreement as Exhibit A. 
 (b) Expenses. The Executive is expected and is authorized to incur reasonable expenses in the performance of his duties hereunder. The Company shall reimburse the Executive for all such expenses
reasonably and actually incurred in accordance with policies which may be adopted from time to time by the Company promptly upon periodic presentation by the Executive of an itemized account, including reasonable substantiation, of such expenses.

 6. Confidentiality, Non-Disclosure and Non-Competition Agreement. The Company and the Executive acknowledge and agree
that during the Executive’s employment with the Company, the Executive will have access to and may assist in developing Company Confidential Information and will occupy a position of trust and confidence with respect to the Company’s
affairs and business and the affairs and business of the Company’s Affiliates. The Executive agrees that the following obligations are necessary to preserve the confidential and proprietary nature of Company Confidential Information and to
protect the Company and its Affiliates against harmful solicitation of employees and customers, harmful competition and other actions by the Executive that would result in serious adverse consequences for the Company and its Affiliates: 

(a) Non-Disclosure. During the Executive’s employment with the Company and thereafter, the Executive will not
knowingly use, disclose or transfer any Company Confidential Information other than as authorized in writing by the Company or within Executive’s good faith interpretation of the scope of the Executive’s duties. Anything herein to the
contrary notwithstanding, the provisions of this Section 6(a) shall not apply (i) when disclosure is required by law or by any court, arbitrator, mediator or administrative or legislative body (including any committee thereof) with
actual or apparent jurisdiction to order the Executive to disclose or make accessible any information; or (ii) to information that becomes generally known to the public or within 

  
 2 

 
the relevant trade or industry other than due to the Executive’s violation of this Section 6(a). 

(b) Materials. The Executive will not remove any Company Confidential Information or any other property of the
Company or any of its Affiliates from the Company’s premises or make copies of such materials except for normal and customary use in the Company’s business. The Company acknowledges that the Executive, in the ordinary course of his duties,
routinely uses and stores Company Confidential Information at home and other locations. The Executive will return to the Company all Company Confidential Information and copies thereof and all other property of the Company or any of its Affiliates
at any time upon the request of the Company and in any event promptly after termination of Executive’s employment. The Executive agrees to attempt in good faith to identify and return to the Company any copies of any Company Confidential
Information after the Executive ceases to be employed by the Company. Anything to the contrary notwithstanding, nothing in this Section 6 shall prevent the Executive from retaining a home computer, papers and other materials of a
personal nature (including diaries and calendars), information relating to his compensation or relating to reimbursement of expenses, information that he reasonably believes may be needed for tax purposes, and copies of plans, programs and
agreements relating to his employment. 
 (c) No Solicitation or Hiring of Employees. During the
Non-Compete Period, the Executive shall not solicit, entice, persuade or induce any individual who is employed by the Company or any of its Affiliates (or who was so employed within 180 days prior to the Executive’s action) to terminate or
refrain from continuing such employment or to become employed by or enter into contractual relations with any other individual or entity other than the Company or any of its Affiliates, and the Executive shall not, directly or indirectly, hire, or
participate in the hiring, as an employee, consultant or otherwise, any such Person. 
 (d)
Non-Competition. 
 (i) During the Non-Compete Period, the Executive shall not, directly or indirectly,
(A) solicit or encourage any client or customer of the Company or any of its Affiliates, or any Person who was a client or customer within 180 days prior to Executive’s action to terminate, reduce or alter in a manner adverse to the
Company, any existing business arrangements with the Company or any of its Affiliates or to transfer existing business from the Company or any of its Affiliates to any other Person, (B) provide services to any entity that competes with the
Company or its Affiliate in the United States or any other jurisdiction in which the Executive has any responsibility during his employment hereunder or that provides a product or service competitive with any product or service provided by the
Company or its Affiliate or (C) own an interest in any entity described in subsection (B) immediately above; provided, however, that Executive may own, as a passive investor, securities of any such entity that has outstanding publicly
traded securities so long as his direct holdings in any such entity shall not in the aggregate constitute more than 2% of the voting power of 

  
 3 

 
such entity. The Executive agrees that, before providing services, whether as an employee or consultant, to any entity during the Non Compete Period, he will provide a copy of this Agreement to
such entity and acknowledge, to the Company in writing, that he has done so. Notwithstanding the foregoing, nothing in this Section 6 shall prevent the Executive from providing services to a division or a subsidiary of an entity that
does not compete with the Company or any of its Affiliates and that does not provide products or services competitive with products or services provided by the Company or any of its Affiliates even if other divisions or subsidiaries of that entity
compete with the Company so long as the Executive does not have any managerial or supervisory authority with respect to such competitive division or subsidiary. The Executive acknowledges that this covenant has a unique, very substantial and
immeasurable value to the Company, that the Executive has sufficient assets and skills to provide a livelihood for the Executive while such covenant remains in force and that, as a result of the foregoing, in the event that the Executive breaches
such covenant, monetary damages would be an insufficient remedy for the Company and equitable enforcement of the covenant would be proper. The Executive further covenants that he shall not challenge the reasonableness of any of the covenants set
forth in this Section 7, but reserves the right to challenge the Company’s interpretation of such covenants. 
 (ii) If the restrictions contained in Section 6(d)(i) shall be determined by any court of competent jurisdiction to be unenforceable by reason of their extending for too great a period of time
or over too great a geographical area or by reason of their being too extensive in any other respect, Section 6(d)(i) shall be modified to be effective for the maximum period of time for which it may be enforceable and over the maximum
geographical area as to which it may be enforceable and to the maximum extent in all other respects as to which it may be enforceable. 
 (e) Publicity. During the Employment Period, the Executive hereby grants to the Company the right to use, in a reasonable and appropriate manner, the Executive’s name and likeness, without
additional consideration, on, in and in connection with technical, marketing or disclosure materials, or any combination thereof, published by or for the Company or any of its Affiliates. 

(f) Conflicting Obligations and Rights. The Executive represents and warrants that he is not subject to agreement
or contractual commitment that prevents or in any way limits his ability to fully discharge his duties and responsibilities hereunder and that he is not in possession of any confidential or proprietary information of another Person that will be used
in connection with the discharge of his duties hereunder. The Executive acknowledges and agrees that the accuracy of the foregoing representation and warranty is a condition precedent to the enforceability of the Company’s obligations
hereunder. 
 (g) Enforcement. The Executive acknowledges that in the event of any breach of this
Section 6, the business interests of the Company and its Affiliates will be 

  
 4 

 
irreparably injured, the full extent of the damages to the Company and its Affiliates will be impossible to ascertain, monetary damages will not be an adequate remedy for the Company and its
Affiliates, and the Company will be entitled to enforce this Agreement by a temporary, preliminary and/or permanent injunction or other equitable relief, without the necessity of posting bond or security, which the Executive expressly waives. The
Executive understands that the Company may waive some of the requirements expressed in this Agreement, but that such a waiver to be effective must be made in writing and should not in any way be deemed a waiver of the Company’s right to enforce
any other requirements or provisions of this Agreement. The Executive agrees that each of the Executive’s obligations specified in this Agreement is a separate and independent covenant and that the unenforceability of any of them shall not
preclude the enforcement of any other covenants in this Agreement. 
 7. Termination of Employment. The Executive’s
employment hereunder may be terminated during the Employment Period under the following circumstances: 
 (a)
Death. The Executive’s employment hereunder shall terminate upon the Executive’s death; 
 (b)
By the Company. The Company may terminate the Executive’s employment for: 
 (i) Disability. If the
Executive shall have been substantially unable to perform the Executive’s material duties hereunder by reason of illness, physical or mental disability or other similar incapacity, which inability shall continue for 90 consecutive days or 180
non-consecutive days in any 24-month period and which qualified Executive for long term disability coverage under applicable Company disability plans (a “Disability”); 

(ii) The Company may terminate the Executive’s employment with or without cause at any time upon not less than 90
days notice to the Executive. 
 (c) By the Executive. The Executive may terminate his employment upon not
less than 90 days notice to the Company. During this 90-day notice period, the Company may relieve the Executive of his positions, titles, duties and responsibilities and direct the Executive to cease appearing on Company property. 

(d) Notice of Termination. Any termination of the Employment Period, other than pursuant to the Executive’s
death, shall be effected by delivery to the other party of a notice of termination (a “Notice of Termination”) from the party terminating the Employment Period. 

(e) Other Resignations. Upon any termination of the Executive’s employment, he shall automatically resign, and
shall automatically be deemed to have resigned, from all positions with the Company and its Affiliates. 
 8. Compensation
Upon Termination. Upon the termination of the Employment Period, the Company shall pay the Executive any amounts owing to the Executive for 

  
 5 

 
reimbursement of expenses properly incurred by the Executive prior to the Date of Termination and which are reimbursable in accordance with Section 5(b). The Executive’s rights
with respect to any equity or equity-related awards shall be governed by the applicable terms of the related plan or award agreement. 
 9. Notices. All notices, demands, requests, or other communications which may be or are required to be given or made by any party to any other party pursuant to this Agreement shall be in writing
and shall be hand delivered, mailed by first-class registered or certified mail, return receipt requested, postage prepaid, delivered by overnight air courier, or transmitted by facsimile transmission addressed as follows: 

 

	 	(a)	If to the Company, to: 

 Biomet,
Inc. 
 56 E. Bell Drive 
 P.O. Box 587 
 Warsaw, Indiana 46581-0587 

Attn: General Counsel 
 Facsimile Number: (574) 372-1960 
  

	 	(b)	If to the Executive, to the address last shown on the Company’s Records. 

 Each party may designate by notice in writing a new address to which any notice, demand, request or communication may thereafter be so given, served or sent. Each notice, demand, request, or communication
that shall be given or made in the manner described above shall be deemed sufficiently given or made for all purposes at such time as it is delivered to the addressee (with the return receipt, the delivery receipt, confirmation of facsimile
transmission or the affidavit of messenger being deemed conclusive but not exclusive evidence of such delivery) or at such time as delivery is refused by the addressee upon presentation. 

10. Severability. The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity
or enforceability of the other provisions of this Agreement, which shall remain in full force and effect. 
 11. Effect on
Other Agreements. The provisions of this Agreement shall supersede the terms of any plan, policy, agreement, award or other arrangement of the Company (whether entered into before or after the Effective Date), other than the Option Agreement, to
the extent application of the terms of this Agreement is more favorable to the Executive. 
 12. Survival. It is the
express intention and agreement of the parties hereto that the provisions of Sections 6, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 20 and 21 hereof shall survive the termination of employment of the Executive. 

13. Assignment. The rights and obligations of the parties to this Agreement shall not be assignable or delegable, except that
(i) in the event of the Executive’s death, the personal representative or legatees or distributees of the Executive’s estate, as the case may be, shall have the right to receive any amount owing and unpaid to the Executive hereunder
and (ii) the rights 

  
 6 

 
and obligations of the Company hereunder shall be assignable and delegable in connection with any subsequent merger, consolidation, sale of all or substantially all of the assets or equity
interests of the Company or similar transaction involving the Company or a successor corporation. The Company shall require any successor to the Company to expressly assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform it if no such succession had taken place. 
 14. Binding Effect.
Subject to any provisions hereof restricting assignment, this Agreement shall be binding upon the parties hereto and shall inure to the benefit of the parties and their respective heirs, devisees, executors, administrators, legal representatives,
successors and assigns. 
 15. Amendment; Waiver. This Agreement shall not be amended, altered or modified except by an
instrument in writing duly executed by the party against whom enforcement is sought. Neither the waiver by either of the parties hereto of a breach of or a default under any of the provisions of this Agreement, nor the failure of either of the
parties, on one or more occasions, to enforce any of the provisions of this Agreement or to exercise any right or privilege hereunder, shall thereafter be construed as a waiver of any subsequent breach or default of a similar nature, or as a waiver
of any such provisions, rights or privileges hereunder. 
 16. Headings. Section and subsection headings contained in
this Agreement are inserted for convenience of reference only, shall not be deemed to be a part of this Agreement for any purpose, and shall not in any way define or affect the meaning, construction or scope of any of the provisions hereof.

 17. Governing Law. This Agreement, the rights and obligations of the parties hereto, and any claims or disputes
relating thereto, shall be governed by and construed in accordance with the laws of the State of Indiana (but not including any choice of law rule thereof that would cause the laws of another jurisdiction to apply). Except as otherwise provided in
Section 6(g), each of the parties agrees that any dispute between the parties shall be resolved only in the courts of the State of Indiana or the United States District Court for the Northern District of Indiana and the appellate courts
having jurisdiction of appeals in such courts. In that context, and without limiting the generality of the foregoing (but subject to Section 6(g)), each of the parties hereto irrevocably and unconditionally (a) submits for himself
or itself in any proceeding relating to this Agreement or Executive’s employment by the Company or any of its Affiliates, or for the recognition and enforcement of any judgment in respect thereof (a “Proceeding”), to the
exclusive jurisdiction of the courts of the State of Indiana, the court of the United States of America for the Northern District of Indiana, and appellate courts having jurisdiction of appeals from any of the foregoing, and agrees that all claims
in respect of any such Proceeding shall be heard and determined in such Indiana State court or, to the extent permitted by law, in such federal court; (b) consents that any such Proceeding may and shall be brought in such courts and waives any
objection that he or it may now or thereafter have to the venue or jurisdiction of any such Proceeding in any such court or that such Proceeding was brought in an inconvenient court and agrees not to plead or claim the same; (c) waives all
right to trial by jury in any Proceeding (whether based on contract, tort or otherwise) arising out of or relating to this Agreement or Executive’s employment by the Company or any of its Affiliates, or his or its, performance under or the
enforcement of this Agreement; (d) agrees that service of process in any such 

  
 7 

 
Proceeding may be effected by mailing a copy of such process by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such party at his, or its, address as
provided in Section 9; and (e) agrees that nothing in this Agreement shall affect the right to effect service of process in any other manner permitted by the laws of the State of Indiana. 

18. Entire Agreement. This Agreement and the Option Agreement constitutes the entire agreement between the parties respecting the
employment of the Executive and supersedes all other agreements and understandings. 
 19. Counterparts. This Agreement
may be executed in two counterparts, each of which shall be an original and all of which shall be deemed to constitute one and the same instrument. 
 20. Withholding. The Company may withhold from any payment under this Agreement all federal, state, city or other taxes as shall be required pursuant to any law or governmental regulation or
ruling. 
 21. Definitions. 
 “Affiliate” means, with respect to any entity, any other corporation, organization, association, partnership, sole proprietorship or other type of entity, whether incorporated or
unincorporated, directly or indirectly controlling or controlled by or under direct or indirect common control with such entity, provided that none of the Majority Stockholders shall be deemed to be an Affiliate of the Company for purposes of this
Agreement solely by reason of its ownership interest in the Company, and provided further that no company that is wholly or partially owned by any Majority Stockholder shall be deemed to be an Affiliate of the Company solely by reason of such
Majority Stockholder’s ownership interest therein. 
 “Board” means the Board of Directors
of the Company. 
 “Company Confidential Information” means information known to the Executive
to constitute trade secrets or proprietary information belonging to the Company or other Company confidential financial information, operating budgets, strategic plans or research methods, personnel data, projects or plans, or non-public information
regarding the Company or any Affiliate of the Company, in each case, received by the Executive in the course of his employment by the Company or in connection with his duties with the Company. 

“Date of Termination” means (i) if the Executive’s employment is terminated by the
Executive’s death, the date of the Executive’s death; (ii) if the Executive’s employment is terminated because of the Executive’s Disability pursuant to Section 7(b)(i), 30 days after Notice of Termination,
provided that the Executive shall not have returned to the performance of the Executive’s duties on a full-time basis during such 30-day period; or (iii) if the Executive’s employment is terminated for any reason other than the
Executive’s death or Disability, the date specified in the Notice of Termination. 
 “Extended
Term” shall have the meaning set forth in Section 2. 

  
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 “Majority Stockholder”, for purposes of this Agreement,
shall mean, collectively or individually as the context requires, Blackstone Group, L.P., The Goldman Sachs Group, Inc., Kohlberg Kravis Roberts & Co., TPG Capital, L.P. and their respective Affiliates. 

“Non-Compete Period” means the period commencing on the Effective Date and ending eighteen
(18) months after the earlier of the expiration of the Employment Period or the Executive’s Date of Termination. 
 “Person” means an individual, partnership, corporation, limited liability company, unincorporated organization, trust or joint venture, or a governmental agency or political subdivision
thereof. 
 * * * * * 
 IN WITNESS WHEREOF, the undersigned have duly executed and delivered this Agreement, or have caused this Agreement to be duly executed and delivered on their behalf. 

 

			
	BIOMET, INC.
		
	By:	 	/s/ Bradley J. Tandy
		 	     Bradley J. Tandy
		 	     Title: Senior Vice President,
		 	     General Counsel and Secretary
	
	EXECUTIVE
	
	    /s/ Renaat Vermeulen
	Name: Renaat Vermeulen

  
 9 

 EXHIBIT A TO EMPLOYMENT AGREEMENT 

[Stock Option Grant Agreement] 

  
 10

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