Document:

EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

AGREEMENT made as of the 25th day of November, 2014 (the “Commencement Date”)
by and between O’Connell Benjamin (hereinafter referred to as the “Employee”) and Authentidate Holding Corp., a Delaware corporation with principal offices located at 300 Connell Drive, Berkeley Heights, NJ 07922. 

W I T N E S S E T H: 

WHEREAS, Authentidate Holding Corp. and its subsidiaries (the “Company”) are engaged in the business of providing Internet and
software-based document authentication services, telehealth services and related business enterprises; and 
 WHEREAS, the Company desires
to continue the employment of the Employee for the purpose of securing for the Company the experience, ability and services of the Employee; and 

WHEREAS, the Employee desires to continue employment with the Company pursuant to the terms and conditions herein set forth, superseding all
prior oral and written employment agreements and term sheets and letters between the Company, its subsidiaries and/or predecessors and Employee. 

NOW, THEREFORE, it is mutually agreed by and between the parties hereto as follows: 

Article I. 
 Definitions

 1.1 Accrued Compensation. “Accrued Compensation” shall mean an amount which shall include all amounts earned or
accrued through the “Termination Date” (as defined below) but not paid as of the Termination Date, including: (a) Base Salary, (b) reimbursement for business expenses incurred by the Employee on behalf of the Company, pursuant to
the Company’s expense reimbursement policy in effect at such time, (c) expense allowance, (d) vacation pay per Company policy, and (e) unpaid bonuses and incentive compensation earned and awarded prior to the Termination Date.

 1.2 Cashflow Breakeven. “Cashflow Breakeven” shall mean that the Company has achieved positive cash flow from operations
for a full fiscal quarter, determined by reference to the revenues and other amounts received by the Company from its operations; provided, however, that for the purpose of the definition of the term “Cashflow Breakeven”, the term
“cash flow from operations” shall not include: 
 (a) amounts received from the sale, lease or disposition of (i) fixed or
capital assets, except for amounts received in the ordinary course of business; or (ii) any subsidiary company; 

  
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 (b) capital expenditures; 

(c) “extraordinary items” of gain or loss as such term is defined in generally accepted accounting principles in the U.S., 

(d) interest income and expense; and 

(e) other non-operating items as determined in accordance with generally accepted accounting principles in the United States as consistently
applied during the periods involved. 
 1.3 Cause. “Cause” shall mean: 

(a) willful disobedience by the Employee of a reasonable, material and lawful instruction of the Board of Directors of the Company consistent
with the duties and functions of Employee’s position; 
 (b) conviction of the Employee of any misdemeanor involving fraud or
embezzlement or similar crime, or any felony; 
 (c) conduct amounting to fraud, gross negligence or willful misconduct in the performance
of any material duties to the Company; or 
 (d) excessive absences from work, other than for illness or Disability; 

provided that the Company shall not have the right to terminate the employment of Employee pursuant to the foregoing clauses (a), (c) or (d) above
unless written notice specifying such breach shall have been given to the Employee and, in the case of breach which is capable of being cured, the Employee shall have failed to cure such breach within thirty (30) days after his receipt of such
notice. 
 1.4 Change in Control. “Change in Control” shall mean any of the following events: 

(a) An acquisition (other than directly from the Company) of any voting securities of the Company (the “Voting Securities”) by any
“Person” (as the term person is used for purposes of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended (the “1934 Act”)) immediately after which such Person has “Beneficial Ownership”
(within the meaning of Rule 13d-3 promulgated under the 1934 Act) of forty percent (40%) or more of the combined voting power of the Company’s then outstanding Voting Securities; provided, however, that in determining whether a Change in
Control has occurred, Voting Securities which are acquired in a “Non-Control Acquisition” (as defined below) shall not constitute an acquisition which would cause a Change in Control. 

  
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 (i) A “Non-Control Acquisition” shall mean an acquisition by (1) an employee
benefit plan (or a trust forming a part thereof) maintained by (x) the Company or (y) any corporation or other Person of which a majority of its voting power or its equity securities or equity interest is owned directly or indirectly by
the Company (a “Subsidiary”), or (2) the Company or any Subsidiary. 
 (ii) Notwithstanding an acquisition as described in
this subparagraph (a), a Change in Control shall not be deemed to occur solely because a Person (the “Subject Person”) gained Beneficial Ownership of more than the permitted amount of the outstanding Voting Securities as a result of the
acquisition of Voting Securities by the Company which, by reducing the number of Voting Securities outstanding, increases the proportional number of shares Beneficially Owned by the Subject Person, provided that if a Change in Control would occur
(but for the operation of this sentence) as a result of the acquisition of Voting Securities by the Company, and after such share acquisition by the Company, the Subject Person becomes the Beneficial Owner of any additional Voting Securities which
increases the percentage of the then outstanding Voting Securities Beneficially Owned by the Subject Person, then a Change in Control shall occur. 

(b) The individuals who, as of the date this Agreement is approved by the Board, are members of the Board (the “Incumbent Board”),
cease for any reason to constitute at least two-thirds of the Board; provided, however, that if the election, or nomination for election by the Company’s stockholders, of any new director was approved by a vote of at least two-thirds of the
Incumbent Board, such new director shall, for purposes of this Agreement, be considered and defined as a member of the Incumbent Board; and provided, further, that no individual shall be considered a member of the Incumbent Board if such individual
initially assumed office as a result of either an actual “Election Contest” (as described in Rule 14a-11 promulgated under the 1934 Act) or other solicitation of proxies or consents by or on behalf of a Person other than the Board (a
“Proxy Contest”); 
 (c) Approval by stockholders of the Company of: 

(i) A merger, consolidation or reorganization involving the Company, unless: (1) the stockholders of the Company, immediately before
such merger, consolidation or reorganization, own, directly or indirectly immediately following such merger, consolidation or reorganization, at least sixty percent (60%) of the combined voting power of the outstanding voting securities of the
corporation resulting from such merger or consolidation or reorganization (the “Surviving Corporation”) in substantially the same proportion as their ownership of the Voting Securities immediately before such merger, consolidation or
reorganization, (2) the individuals who were members of the Incumbent Board immediately prior to the execution of the agreement providing for such merger, consolidation or reorganization constitute at least two-thirds of the members of the
board of directors of the Surviving Corporation, and (3) no Person (other than the Company, any Subsidiary, any employee benefit plan (or any trust forming a part thereof) maintained by the Company, the Surviving Corporation or any Subsidiary)
becomes 

  
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Beneficial Owner of forty percent (40%) or more of the combined voting power of the Surviving Corporation’s then outstanding voting securities as a result of such merger, consolidation
or reorganization, a transaction described in clauses (1) through (3) shall herein be referred to as a “Non-Control Transaction”; or 

(ii) an agreement for the sale or other disposition of all or substantially all of the assets of the Company, to any Person, other than a
transfer to a Subsidiary, in one transaction or a series of related transactions; or 
 (iii) the stockholders of the Company approve any
plan or proposal for the liquidation or dissolution of the Company. 
 (d) Notwithstanding anything contained in this Agreement to the
contrary, if the Employee’s employment is terminated prior to a Change in Control and the Employee reasonably demonstrates that such termination (i) was at the request of a third party who has indicated an intention or taken steps
reasonably calculated to effect a Change in Control (a “Third Party”) or (ii) otherwise occurred in connection with, or in anticipation of, a Change in Control, then for all purposes of this Agreement, the date of a Change in Control
with respect to the Employee shall mean the date immediately prior to the date of such termination of the Employee’s employment. 
 1.5
Continuation Benefits. “Continuation Benefits” shall be the continuation of the Benefits, as defined in Section 5.1, for the period from the Termination Date to either (i) the later of the Expiration Date, or the end of
the month in which the one-year anniversary of the Termination Date occurs, or (ii) such other period as specifically stated by this Agreement (the “Continuation Period”), at the Company’s expense, less any normal payroll
deductions, on behalf of the Employee and his dependents; provided, however, if any of the Benefits required to be provided by the Company during the Continuation Period under the Company’s benefit plans are, pursuant to the terms of such
plans, not available to non-employees of the Company, the Company, at its sole cost and expense, less any normal payroll deductions, shall be required to provide such benefits as shall be reasonably available and substantially similar to the
benefits provided to employees of the Company. The Company’s obligation hereunder with respect to the foregoing benefits shall also be limited to the extent that if the Employee obtains such benefits pursuant to a subsequent employer’s
benefit plan, the Company may reduce the coverage of any benefits it is required to provide the Employee hereunder as long as the aggregate coverage and benefits of the combined benefit plans is no less favorable to the Employee than the coverage
and benefits required to be provided hereunder. This definition of Continuation Benefits shall not be interpreted so as to limit any benefits to which the Employee, his dependents or beneficiaries may be entitled under any of the Company’s
employee benefit plans, programs or practices following the Employee’s termination of employment, including, without limitation, retiree medical and life insurance benefits. 

  
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 1.6 Disability. “Disability” shall mean a physical or mental infirmity which
impairs the Employee’s ability to substantially perform his duties with the Company for a period of ninety (90) consecutive days, and the Employee has not returned to his full time employment prior to the Termination Date as stated in the
“Notice of Termination” (as defined below). 
 1.7 Good Reason. “Good Reason” shall mean without the written
consent of the Employee: 
 (a) a material breach of any provision of this Agreement by the Company; 

(b) failure by the Company to pay when due any compensation to the Employee; 

(c) a reduction in the Employee’s Base Salary; 

(d) failure by the Company to maintain the Employee in the positions referred to in Section 2.1 of this Agreement, unless such change was
due to a Change of Control; 
 (e) assignment to the Employee of any duties materially and adversely inconsistent with the Employee’s
positions, authority, duties, responsibilities, powers, functions, reporting relationship or title as contemplated by Section 2.1 of this Agreement or any other action by the Company that results in a material diminution of such positions,
authority, duties, responsibilities, powers, functions, reporting relationship or title, unless such change was due to a Change of Control; 

(f) relocation of the principal office of the Company or the Employee’s principal place of employment to a location outside a 15
(fifteen) mile radius of the present location in Berkeley Heights, New Jersey, without the Employee’s written consent; or 
 (g) a
Change in Control, provided the event on which the Change of Control is predicated occurs not less than 90 nor more than 150 days of the service of the Notice of Termination by the Employee, it being understood that Employee shall have the right to
terminate his employment under this Section 1.7(g) for any reason or no reason within such 60 day period; 
 and provided further, however, that the
Employee agrees not to terminate his employment for Good Reason pursuant to clauses (a) through (f) unless (A) the Employee has given the Company at least 30 days’ prior written notice of his intent to terminate his employment
for Good Reason, which notice shall specify the facts and circumstances constituting Good Reason; and (B) the Company has not remedied such facts and circumstances constituting Good Reason to the reasonable and good faith satisfaction of the
Employee within a 30-day period after receipt of such notice. 

  
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 1.8 Notice of Termination. “Notice of Termination” shall mean a written notice
from the Company, or the Employee, of termination of the Employee’s employment which indicates the specific termination provision in this Agreement relied upon, if any, and which sets forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination of the Employee’s employment under the provision so indicated. 
 1.9 Severance
Payment. “Severance Payment” shall mean an amount equal to 12 months of Employee’s Base Salary in effect on the Termination Date, but no less than $290,000. The Severance Payment is conditioned on the Employee executing a
termination and release agreement in a form reasonably acceptable to the Employee and the Company 
 1.10 Strategic Alliance
Transaction. “Strategic Alliance Transaction” shall mean any transaction or series or combination of transactions whereby a company (or multiple affiliated companies) in the technology and/or medical device industry (a “Strategic
Partner”) enters into a transaction with the Company (and/or a subsidiary of the Company) pursuant to which (i) the Strategic Partner invests in the Company’s equity securities, and (ii) simultaneously or in connection therewith
enters into one or more agreements with the Company (or a subsidiary of the Company) in the form of a major license, collaboration, distribution, exclusive manufacturing, joint venture, partnership, or similar arrangement in accordance with which
the Company (or its subsidiary) and the Strategic Partner collaborate on one or more business endeavors for the purpose of benefitting from each others’ respective resources to increase the sales and distribution of their respective products,
technologies and/or services, while maintaining their separate autonomy. For purposes of clarity, a Strategic Alliance Transaction shall not include: (x) customary license, distribution or marketing agreements or customary manufacturing or
supply agreements that do not involve an equity investment in the Company or (y) any debt or equity financing transaction that does not include, as a material part thereof, an agreement by the counterparty to engage in the activities
contemplated in this definition. 
 1.11 Telehealth Products. “Telehealth Products” shall mean the remote patient
monitoring products and services commercialized by the Company and/or its Express MD Solutions LLC subsidiary (or any successors thereto), including the products and services currently offered by the Company (and its subsidiaries) and derivatives
thereof. 
 1.12 Termination Date. Termination Date shall mean: 

(a) in the case of the Employee’s death, his date of death; 

(b) in the case of Good Reason, 30 days from the date the Notice of Termination is given to the Company, provided the Company has not remedied
such facts and circumstances constituting Good Reason to the reasonable and good faith satisfaction of the Employee; 
 (c) in the case of
termination of employment on or after the Expiration Date, the last day of employment; and 

  
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 (d) in all other cases, the date specified in the Notice of Termination; provided, however, if
the Employee’s employment is terminated by the Company for any reason except Cause, the date specified in the Notice of Termination shall be at least 30 days from the date the Notice of Termination is given to the Employee, and provided further
that in the case of Disability, the Employee shall not have returned to the full-time performance of his duties during such period of at least 30 days. 

Article II. 
 Employment

 2.1 Subject to and upon the terms and conditions of this Agreement, the Company hereby agrees to continue the employment of the
Employee, and the Employee hereby accepts such continued employment in his capacity as President and Chief Executive Officer. The Employee’s position includes acting as an officer and/or director of any of the Company’s subsidiaries as
determined by the Board of Directors. The Company shall nominate Employee, and use its best efforts to have Employee elected to the Board of Directors of the Company (the “Board”) throughout the term of this Agreement. The Employee agrees
to resign from the Board upon the termination of employment for any reason. 
 Article III. 

Duties 
 3.1 The Employee
shall, during the term of his employment with the Company, and subject to the direction and control of the Board, report directly to the Board and shall exercise such authority, perform such executive duties and functions and discharge such
responsibilities as are reasonably associated with his executive position or as may be reasonably assigned or delegated to him from time to time by the Board, consistent with his position as President and Chief Executive Officer. In general,
Employee shall have management authority with respect to, and responsibility for, the overall operations and day-to-day business and affairs of the Company and all major operating units. 

3.2 During the term of this Agreement and excluding periods of vacation and sick leave to which the Employee is entitled, the Employee agrees
to devote substantially all of his business time and attention to the affairs of the Company and, to the extent necessary to discharge the responsibilities assigned hereunder, use his best efforts in the performance of his duties for the Company and
any subsidiary corporation of the Company. During the term of this Agreement the Employee may, so long as it does not materially interfere with his duties hereunder: (i) subject to Article VII hereof, serve on the board of directors (or
equivalent bodies) of civic, non-profit, or charitable organizations or entities unaffiliated with the Company, (ii) deliver lectures or otherwise participate in speaking engagements, and (iii) manage his personal investments and affairs.

  
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 3.3 Employee shall undertake regular travel to the Company’s executive and operational
offices, and such other occasional travel within or outside the United States as is or may be reasonably necessary in the interests of the Company. All such travel shall be at the sole cost and expense of the Company, and all airplane travel shall
be first or business class, or otherwise fully reimbursed at cost, to the extent that such reimbursements do not exceed the approximate equivalent published fare for first or business class. Other expenses shall be reimbursed in accordance with the
Company’s policies for executive travel. 
 Article IV. 

Compensation 
 4.1 During
the term of this Agreement, Employee shall receive base compensation at the rate of $290,000 per annum (the “Base Salary”); however Employee agrees and acknowledges that from the Commencement Date and until the first to occur of
(i) January 15, 2015 or (ii) such time as the Company achieves Cashflow Breakeven for two consecutive fiscal quarters, 30% of such Base Salary shall be paid in equity-based awards granted to Employee pursuant to that certain
Compensation Modification Agreement dated as of January 15, 2014 (the “Modification Agreement”) and the terms and conditions of the awards granted to Employee pursuant to such Modification Agreement shall be governed solely by such
Modification Agreement. 
 (a) Prior to the expiration of the Modification Agreement, Employee and the Company agree to negotiate in good
faith to enter into a new agreement relating to the matters contemplated in the Modification Agreement or to renew or extend such agreement for an additional period of time. In the event that Company and Employee do not enter into such new
compensation modification agreement (or renewal or extension of the present Modification Agreement) prior to the expiration of the current Modification Agreement, the Employee agrees that the reduction in Base Salary required by the Modification
Agreement shall continue through the first to occur of either (i) such time as the Company achieves Cashflow Breakeven for two consecutive fiscal quarters or (ii) the Termination Date; provided, however, that the amount of the continuing
salary reduction shall be adjusted to be 15% of the Base Salary payable hereunder. Employee hereby agrees that in the event his Base Salary continues to be reduced subsequent to January 15, 2015 pursuant to this Section, that the compensation
payable to Employee hereunder and the other benefits provided for in this Agreement constitute sufficient and good consideration for the agreement to continue to accept the reduced Base Salary contemplated by this Section 4.1 and further,
Employee agrees that the arrangements set forth herein shall not constitute “Good Reason” as defined above. 
 (b) Employee
further agrees to continue the arrangements contemplated by the Modification Agreement during the term of this Agreement if such continuance is authorized and approved by the Board or the Management Resources and Compensation Committee of the Board
(the “Committee”) and the Company has not achieved Cashflow Breakeven (for the duration specified in such Modification Agreement). 

  
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 4.2 Base Salary shall be paid to the Employee in regular installments on each of the
Company’s regular pay dates for executives, but no less frequently than monthly. 
 4.3 Employee shall receive a one-time cash bonus
(the “Breakeven Bonus”) of up to $75,000 in the event that the Company achieves Cashflow Breakeven by the close of the Company’s fiscal quarter ending September 30, 2015 in accordance with the following parameters: 

(a) If the Company achieves Cashflow Breakeven as of the end of the fiscal year ending June 30, 2015, the Breakeven Bonus shall be
$75,000; and 
 (b) If the Company achieves Cashflow Breakeven as of the end of the fiscal quarter ending September 30, 2015, the
Breakeven Bonus shall be $50,000. 
 4.4 Employee shall receive a one-time bonus (the “Fixed Bonus”) of $150,000 if the
Company’s Common Stock has a closing price at or above $3.00 (as shall be adjusted to give effect to any stock splits, reverse stock splits, stock dividends, recapitalizations and other similar transactions after the Commencement Date) for 15
consecutive trading days during the Company’s fiscal year ending June 30, 2015. For the purpose of determining the closing price of the Company’s Common Stock, the closing price of a share of Common Stock shall mean (i) if the
Common Stock is traded on a national securities exchange, including on the Nasdaq Stock Market (“Nasdaq”), the per share closing price of the Common Stock shall be the reported closing price on the principal securities exchange on which
they are listed or on Nasdaq, as the case may be, on the date of determination (or if there is no closing price for such date of determination, then the last preceding business day on which there was a closing price); or (ii) if the Common
Stock is traded in the over-the-counter market and last sales prices for the Common Stock are reported by Bloomberg, L.P. (or a comparable reporting service of national reputation selected by the Company and reasonably acceptable to the Employee if
Bloomberg, L.P. is not then reporting sales prices of such security), the per share closing price of the Common Stock shall be the closing price reported on Bloomberg, L.P., on the date of determination (or if there is no closing price for such date
of determination, then the last preceding business day on which there was a closing price). 
 4.5 Any bonus which may be awarded to
Employee pursuant to Section 4.3 shall be paid to the Employee within ten business days from the date that the Audit Committee of the Company’s Board of Directors has reasonably determined that the Company has achieved Cashflow Breakeven.
The Fixed Bonus provided for in Section 4.4, if earned, shall be paid to Employee within ten business days from the date on which it is determined that the Fixed Bonus has been earned. 

4.6 The Company shall deduct from Employee’s compensation all federal, state, and local taxes which it may now or may hereafter be
required to deduct under applicable law. 

  
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 4.7 The Committee will perform an annual review of Employee’s performance and compensation
at the commencement of each fiscal year. Employee may receive such other additional compensation as may be determined from time to time by the Board or Committee including increases in base salary, bonuses and other long term compensation plans.
Nothing in this paragraph 4.7 shall be deemed or construed to require the Board or Committee to award any bonus or additional compensation. 

4.8 For the purpose of determining whether the Company achieves Cashflow Breakeven prior to the end of a given financial reporting period,
such determination shall be made in good faith by the Audit Committee of the Company’s Board of Directors in connection with its review of, in the case of determining whether Cashflow Breakeven has been achieved, the Company’s financial
statements for the fiscal quarter or fiscal year period in question, which determination shall be made prior to the time and date that the Company files the relevant Quarterly Report on Form 10-Q or Annual Report on Form 10-K, as the case may be,
with the Securities and Exchange Commission. Accordingly, the determination as to whether Employee is entitled to the Breakeven Bonus contemplated in Section 4.3, or to the vesting of the Performance Options as contemplated in
Section 11.1(c), shall be made upon the foregoing determination by the Audit Committee and shall be effective as of the date of determination by the Audit Committee. 

Article V. 
 Benefits

 5.1 During the term hereof, the Company shall provide Employee with the following benefits, as such benefits may change from time to
time (the “Benefits”): (i) group health care and insurance benefits as generally made available to the Company’s senior management; and (ii) such other benefits (including insurance related benefits, holiday, sick leave,
personal days, etc.) obtained by the Company or made generally available to the Company’s senior management. 
 5.2 The Company shall
reimburse Employee, upon presentation of the Company’s standard expense report accompanied by appropriate vouchers and other suitable documentation, incurred by Employee on behalf of the Company, provided such expenditure is consistent with
Company policy. 
 5.3 In the event the Company wishes to obtain Key Man life insurance on the life of Employee, Employee agrees to
cooperate with the Company in completing any applications necessary to obtain such insurance and promptly submit to such physical examinations and furnish such information as any proposed insurance carrier may request. 

5.4 For the term of this Agreement, Employee shall be entitled to paid vacation at the rate of (4) weeks per annum or otherwise in
accordance with current Company policy. 

  
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 Article VI. 

Non-Disclosure 
 6.1 The
Employee shall not, at any time during or after the termination of his employment hereunder, except when acting on behalf of and with the authorization of the Company, or when required by law or legal process, or where appropriate in response to
regulatory authorities, make use of or disclose to any person, corporation, or other entity, for any purpose whatsoever, any trade secret or other confidential information concerning the Company’s business, finances, marketing, Internet and
software-based document authentication services, digital image authentication services, telehealth products and services, and related business enterprises of the Company and its subsidiaries, including information relating to any customer of the
Company, or any other nonpublic business information of the Company and/or its subsidiaries learned as a consequence of Employee’s employment with the Company, except for information available publicly or from other non-confidential sources
(collectively referred to as the “Proprietary Information”). The Employee acknowledges that Proprietary Information, as they may exist from time to time, are valuable and unique assets of the Company, and that disclosure of any such
information would cause substantial injury to the Company. Proprietary Information shall cease to be Proprietary Information, as applicable, at such time as such information becomes public other than through disclosure, directly or indirectly, by
Employee in violation of this Agreement. 
 6.2 If Employee is requested or required (by oral questions, interrogatories, requests for
information or document subpoenas, civil investigative demands, or similar process) to disclose any Proprietary Information, Employee shall, unless prohibited by law, promptly notify the Company of such request(s) so that the Company may seek an
appropriate protective order. 
 Article VII. 

Restrictive Covenant 
 7.1
In the event of the termination of Employee’s employment with the Company at any time, Employee agrees that he will not, for a period of one (1) year following such termination, directly or indirectly, enter into or become associated with
or engage in any other business (whether as a partner, officer, director, shareholder, employee, consultant, or otherwise), which business is primarily involved in Internet and software-based document authentication services, digital image
authentication services, delivery of health-related services and information via telecommunications technologies, and related business enterprises or is otherwise engaged in the same or similar business as the Company in direct competition with the
Company, or which the Company was in the process of developing during the term of Employee’s employment with the Company and such development is based on actual or demonstrative anticipated research. Notwithstanding the foregoing, (x) the
ownership by Employee of less than five percent of the shares of any publicly held corporation shall not violate the provisions of this Article VII, and (y) the Employee shall not be required to comply with any provision of this Article VII
following termination of this Agreement if the amounts required to be paid under Article IX are not timely paid. 

  
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 7.2 In furtherance of the foregoing, Employee shall not during the aforesaid period of
non-competition, directly or indirectly, in connection with any business primarily involved in the Internet and software-based document authentication services and related business enterprises, or digital image authentication services, or any
business similar to the business in which the Company was engaged, or in the process of developing during Employee’s tenure with the Company and such development is based on actual or demonstrative anticipated research, solicit any customer or
employee of the Company who was a customer or employee of the Company within one year of the Termination Date. 
 7.3 Except as otherwise
may be agreed by the Company in writing, in consideration of the employment of Employee by the Company, and free of any additional obligations of the Company to make additional payment to Employee, Employee agrees to irrevocably assign to the
Company any and all inventions, software, manuscripts, documentation, improvements or other intellectual property whether or not protectable by any state or federal laws relating to the protection of intellectual property, relating to the present or
future business of the Company that are developed by Employee during the term of his/her employment with the Company, either alone or jointly with others, and whether or not developed during normal business hours or arising within the scope of
his/her duties of employment. Employee agrees that all such inventions, software, manuscripts, documentation, improvement or other intellectual property shall be and remain the sole and exclusive property of the Company and shall be deemed the
product of work for hire. Employee hereby agrees to execute such assignments and other documents as the Company may consider appropriate to vest all right, title and interest therein to the Company and hereby appoints the Company Employee’s
attorney-in-fact with full powers to execute such document itself in the event employee fails or is unable to provide the Company with such signed documents. Notwithstanding the foregoing, this provision does not apply to an invention for which no
equipment, supplies, facility, or trade secret information of the Company was used and which was developed entirely on Employee’s own time, unless (a) the invention relates (i) to the business of the Company, or (ii) to the
Company’s actual or demonstrably anticipated research or development, or (b) the invention results from any work performed by Employee for the Company. 

7.4 If any court shall hold that the duration of non-competition or any other restriction contained in this Article VII is unenforceable, it
is our intention that same shall not thereby be terminated but shall be deemed amended to delete therefrom such provision or portion adjudicated to be invalid or unenforceable or, in the alternative, such judicially substituted term may be
substituted therefor. 

  
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 Article VIII. 

Term 
 8.1 This Agreement
shall be effective upon execution by both parties hereto and the employment term (the “Initial Term”) shall commence on the Commencement Date and terminate on September 30, 2015 (the “Expiration Date”), unless sooner
terminated upon the death of the Employee, or as otherwise provided herein. 
 8.2 The Company shall notify the Employee in writing of the
Company’s intention to continue Employee’s employment after the Expiration Date no less than 90 days prior to the Expiration Date. 

8.3 Upon termination of the Employee’s employment with the Company, the Company shall pay Employee, in addition to any other payments due
hereunder, the amounts due under Article IX. 
 Article IX. 

Termination 
 9.1 The
Company may terminate this Agreement by giving a Notice of Termination to the Employee in accordance with this Agreement: 
 (a) for
Disability; 
 (b) for Cause 

(c) without Cause. 
 9.2
Employee may terminate this Agreement at any time by giving 30 days prior written Notice of Termination to the Company in accordance with this Agreement. 

9.3 If the Employee’s employment with the Company shall be terminated, the Company shall pay and/or provide to the Employee the following
compensation and benefits: 
 (a) if the Employee was terminated by the Company for Cause, or the Employee terminates without Good Reason,
the Accrued Compensation; 
 (b) if the Employee was terminated by the Company for Disability, the Accrued Compensation, the Severance
Payment and the Continuation Benefits; or 
 (c) if termination was due to the Employee’s death, the Accrued Compensation; or 

  
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 (d) if the Employee was terminated by the Company without Cause or the Employee terminates this
Agreement for Good Reason, (i) the Accrued Compensation; (ii) the Severance Payment; and (iii) the Continuation Benefits. 

(e) In the event the Company fails to notify the Employee in accordance with Section 8.2, or after notifying the Employee fails to reach
an agreement on a new employment agreement prior to the Expiration Date, Employee’s employment shall terminate on the Expiration Date and the Company shall pay the Employee the Severance Payment; Accrued Compensation, and the Continuation
Benefits. 
 9.4 The amounts payable under this Section 9.3, shall be paid as follows: 

(a) Accrued Compensation shall be paid on the first regular pay date after the Termination Date (or earlier, if required by applicable law).

 (b) If the Continuation Benefits are paid in cash, the payments shall be made on the first day of each month during the Continuation
Period (or earlier, if required by applicable law). 
 (c) The Severance Payments shall be paid in equal installments in accordance with
the Company’s regular pay dates for executives (or earlier, if required by applicable law) during a period of one year commencing with the first regular pay date after the Termination Date. 

9.5 The Employee shall not be required to mitigate the amount of any payment, including the value of any Continuation Benefit, provided for in
this Agreement by seeking other employment or otherwise and no such payment shall be offset or reduced by the amount of any compensation or benefits provided to the Employee in any subsequent employment except as provided in Sections 1.5. 

9.6 For a period of three years following the termination of this Agreement, Employee agrees that he will not make any negative or derogatory
statements in verbal, written, electronic or any other form about the Company, including, but not limited to, a negative or derogatory statement made in, or in connection with, any article or book, on a website, in a chat room or via the internet
except where such statement is required by law or regulation. During such three year period, none of the executive officers and directors shall make any negative or derogatory statements in verbal, written, electronic or any other form about the
Employee, including, but not limited to, a negative or derogatory statement made in, or in connection with, any article or book, on a website, in a chat room or via the internet except where such statement is required by law or regulation. 

  
 14 

 Article X. 

Termination of Prior Agreements 

10.1 This Agreement, and the stock option, bonus plan and benefit plans, sets forth the entire agreement between the parties and supersedes
all prior agreements, letters and understandings between the parties, whether oral or written, prior to the effective date of this Agreement, except for the terms of (i) the Modification Agreement and (ii) employee stock option plans and
option certificates granted prior to the Commencement Date. 
 Article XI. 

Stock Options 
 11.1 As an
inducement to Employee to enter into this Agreement, the Company hereby grants to Employee, as of the date of execution of this Agreement, options to purchase an aggregate of 300,000 shares of the Company’s Common Stock, $.001 par value, as
follows: subject to the terms and conditions of the Company’s 2011 Omnibus Equity Incentive Plan (the “Plan”), and the terms and conditions set forth in the Stock Option Agreement which are incorporated herein by reference, the
Employee is hereby granted the following options pursuant to the Plan: 
 (a) Options to purchase 100,000 shares of the Company’s
Common Stock, all of which shall vest on the Commencement Date; 
 (b) Options to purchase 100,000 shares of the Company’s Common Stock
shall vest upon the consummation by the Company of a duly authorized Strategic Alliance Transaction prior to the Termination Date; and 

(c) Options to purchase a maximum of 100,000 shares of the Company’s Common Stock shall vest in the event the Company achieves Cashflow
Breakeven prior to the end of the fiscal quarter ending September 30, 2015 in accordance with the following parameters: 
 (i) if the
Company achieves Cashflow Breakeven as of the end of the fiscal year ending June 30, 2015 a total of 100,000 additional options shall vest; and 

(ii) if the Company achieves Cashflow Breakeven as of the end of the fiscal quarter ending September 30, 2015, a total of 75,000
additional options shall vest. 
 (iii) If the Company does not achieve Cashflow Breakeven as of the end of the fiscal quarter ending
September 30, 2015, all of the options described in this Section 11.1(c) shall expire and be forfeited. 

  
 15 

 (d) The Options described in subparagraphs 11.1(b) and 11.1(c) may be separately referred to
elsewhere in this Agreement as the “Performance Options”. 
 (e) The exercise price of the Options shall be the fair market value
per share of the Company’s Common Stock (as determined in accordance with the Plan) as of the Commencement Date, shall be exercisable for a term of ten years from the Commencement Date and shall contain such other terms and conditions as set
forth in the stock option agreement. The Options provided for herein are not transferable by Employee and shall be exercised only by Employee, or by his legal representative or executor, as provided in the Plan. The Options shall terminate as
provided in the Plan, except as otherwise modified by this Agreement. 
 11.2 In the event of a termination of Employee’s employment
with the Company pursuant to Section 9.1(c) or 9.3(e) or by the Employee for Good Reason, notwithstanding anything herein or in any stock option agreement to the contrary, (a) the Employee’s right to purchase shares of Common Stock of
the Company pursuant to any unexpired stock option granted as of or prior to the effective date of this Agreement, other than the Performance Options, shall immediately fully vest and become exercisable, (b) the exercise period in which
Employee may exercise his options, other than Performance Options, to purchase Company common stock shall be extended to the duration of their original term, as if Employee remained an employee of the Company, and the terms of such options shall be
deemed amended to take into account the foregoing provisions. 
 11.3 In the event of a termination of Employee’s employment with the
Company pursuant to Section 9.1(c) or 9.3(e) or by the Employee for Good Reason prior to the vesting of the Performance Options described in Section 11.1(c), notwithstanding anything herein or in any stock option agreement to the contrary,
the unvested Performance Options granted pursuant to Section 11.1(c) of this Agreement shall remain outstanding and eligible to vest in accordance with their terms until the Audit Committee of the Board of Directors has determined whether the
vesting conditions have been achieved in accordance with Sections 4.8 and 11.1(c) of this Agreement. If it is determined by the Audit Committee that the vesting criteria of the Performance Options described in Section 11.1(c) are satisfied,
then such Performance Options for which the vesting criteria has been satisfied shall be immediately exercisable to the extent it is entitled to vest in accordance with the provisions of this Agreement, for the duration of their original term. If
the Audit Committee does not determine that the vesting criteria of the Performance Options described in Section 11.1(c) are satisfied, then such Performance Options shall immediately expire and be void. It is further acknowledged and agreed
that in the event that the vesting condition of the Performance Options described in Section 11.1(b) has not occurred prior to the Termination Date, then such Performance Options shall immediately expire and be void. 

  
 16 

 11.4 For purposes of clarity, Employee and Company agree that the occurrence of a Change in
Control shall not affect the provisions of Sections 11.2 and 11.3. 
 11.5 In the event of a termination of Employee’s employment with
the Company pursuant to Section 9.1(b), Options granted and not exercised as of the Termination Date shall terminate immediately and be null and void. 

11.6 In the event of a termination of Employee’s employment with the Company due to any other reason, the Options granted shall be
exercisable only in accordance with the Plan. 
 Article XII. 

Arbitration and Indemnification 

12.1 Any dispute arising out of the interpretation, application, and/or performance of this Agreement with the sole exception of any claim,
breach, or violation arising under Articles VI or VII hereof shall be settled through final and binding arbitration before a single arbitrator in the State of New Jersey in accordance with the Rules of the American Arbitration Association. The
arbitrator shall be selected by the American Arbitration Association and shall be an attorney-at-law experienced in the field of corporate law. Any judgment upon any arbitration award may be entered in any court, federal or state, having competent
jurisdiction of the parties. 
 12.2 The Company hereby agrees to indemnify, defend, and hold harmless the Employee for any and all claims
arising from or related to his employment by the Company at any time asserted, at any place asserted, to the fullest extent permitted by law. The Company shall maintain such insurance as is necessary and reasonable (with minimum coverage of not less
than $5,000,000) to protect the Employee from any and all claims arising from or in connection with his employment by the Company during the term of Employee’s employment with the Company and for a period of six (6) years after the date of
termination of employment for any reason. The provisions of this Section are in addition to and not in lieu of any indemnification, defense or other benefit to which Employee may be entitled by statute, regulation, common law or otherwise. 

Article XIII. 

Section 409A Compliance 

13.1 To the extent applicable, it is intended that any amounts payable under this Agreement shall either be exempt from Section 409A of
the Code or shall comply with Section 409A (including Treasury regulations and other published guidance related thereto) so as not to subject Employee to payment of any additional tax, penalty or interest imposed under Section 409A of the
Code. The provisions of this Agreement shall be construed and interpreted to the maximum extent permitted to avoid the imputation of any such additional tax, penalty or interest under Section 409A of the Code yet preserve (to the nearest extent
reasonably possible) the intended benefit payable to Employee. Notwithstanding the foregoing, the Company makes 

  
 17 

 
no representations regarding the tax treatment of any payments hereunder, and the Employee shall be responsible for any and all applicable taxes, other than the Company’s share of employment
taxes on the severance payments provided by the Agreement. Employee acknowledges that Employee has been advised to obtain independent legal, tax or other counsel in connection with Section 409A of the Code. 

13.2 Notwithstanding any provisions of this Agreement to the contrary, if Employee is a “specified employee” (within the
meaning of Section 409A of the Code and the regulations adopted thereunder) at the time of Employee’s separation from service and if any portion of the payments or benefits to be received by Employee upon separation from service would be
considered deferred compensation under Section 409A of the Code and the regulations adopted thereunder (“Nonqualified Deferred Compensation”), amounts that would otherwise be payable pursuant to this Agreement during the six-month
period immediately following Employee’s separation from service that constitute Nonqualified Deferred Compensation and benefits that would otherwise be provided pursuant to this Agreement during the six-month period immediately following
Employee’s separation from service that constitute Nonqualified Deferred Compensation will instead be paid or made available on the earlier of (i) the first business day of the seventh month following the date of Employee’s separation
from service and (ii) Employee’s death. Notwithstanding anything in this Agreement to the contrary, distributions upon termination of Employee’s employment shall be interpreted to mean Employee’s “separation from
service” with the Company (as determined in accordance with Section 409A of the Code and the regulations adopted thereunder). Each payment under this Agreement shall be regarded as a “separate payment” and not of a series of
payments for purposes of Section 409A of the Code. 
 13.3 Except as otherwise specifically provided in this Agreement, if any
reimbursement to which the Employee is entitled under this Agreement would constitute deferred compensation subject to Section 409A of the Code, the following additional rules shall apply: (i) the reimbursable expense must have been
incurred, except as otherwise expressly provided in this Agreement, during the term of this Agreement; (ii) the amount of expenses eligible for reimbursement during any taxable year will not affect the amount of expenses eligible for
reimbursement in any other taxable year; (iii) the reimbursement shall be made as soon as practicable after Employee’s submission of such expenses in accordance with the Company’s policy, but in no event later than the last day of
Employee’s taxable year following the taxable year in which the expense was incurred; and (iv) the Employee’s entitlement to reimbursement shall not be subject to liquidation or exchange for another benefit. 

  
 18 

 Article XIV. 

Severability 
 14.1 If any
provision of this Agreement shall be held invalid and unenforceable, the remainder of this Agreement shall remain in full force and effect. If any provision is held invalid or unenforceable with respect to particular circumstances, it shall remain
in full force and effect in all other circumstances. 
 Article XV. 

Notice 
 15.1 For the
purposes of this Agreement, notices and all other communications provided for in the Agreement shall be in writing and shall be deemed to have been duly given when (a) personally delivered or (b) sent by (i) a nationally recognized
overnight courier service or (ii) certified mail, return receipt requested, postage prepaid and in each case addressed to the respective addresses as set forth below or to any such other address as the party to receive the notice shall advise
by due notice given in accordance with this paragraph. All notices and communications shall be deemed to have been received on (A) if delivered by personal service, the date of delivery thereof; (B) if delivered by a nationally recognized
overnight courier service, on the first business day following deposit with such courier service; or (C) on the third business day after the mailing thereof via certified mail. Notwithstanding the foregoing, any notice of change of address
shall be effective only upon receipt. The current addresses of the parties are as follows: 
  

			
	IF TO THE COMPANY:	  	Authentidate Holding Corp.
		  	Connell Corporate Center
		  	300 Connell Drive, Fifth Floor
		  	Berkeley Heights, NJ 07922
		
	WITH A COPY TO:	  	Victor J. DiGioia
		  	Becker & Poliakoff, LLP
		  	45 Broadway
		  	New York, NY 10006
		
	IF TO THE EMPLOYEE:	  	O’Connell Benjamin

  
 19 

 Article XVI. 

Benefit 
 16.1 This
Agreement shall inure to, and shall be binding upon, the parties hereto, the successors and assigns of the Company, and the heirs and personal representatives of the Employee. 

Article XVII. 
 Waiver

 17.1 The waiver by either party of any breach or violation of any provision of this Agreement shall not operate or be construed as a
waiver of any subsequent breach of construction and validity. 
 Article XVIII. 

Governing Law and Jurisdiction 

18.1 This Agreement has been negotiated and executed in the State of New Jersey. The law of the State of New Jersey shall govern the
construction and validity of this Agreement. 
 18.2 Any or all actions or proceedings which may be brought by the Company or Employee under
this Agreement shall be brought in courts having a situs within the State of New Jersey, and Employee and the Company each hereby consent to the jurisdiction of any local, state, or federal court located within the State of New Jersey. 

Article XIX. 
 Entire
Agreement 
 19.1 Other than the agreements embodied in the Modification Agreement, this Agreement contains the entire agreement between
the parties hereto. No change, addition, or amendment shall be made hereto, except by written agreement signed by the parties hereto. 

Remainder of page intentionally left blank. Signature page follows. 

  
 20 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement and affixed their
hands and seals the day and year first above written. 
  

			
	Authentidate Holding Corp.
		
	By:	 	 /s/ Charles C. Lucas, III

		 	Charles C. Lucas III
		 	Chairman of the Compensation Committee
	
	Employee
	
	 /s/ O’Connell Benjamin

	O’Connell Benjamin
	Employee

  
 21EX-10.1

 Exhibit 10.1 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

This Amended and Restated Employment Agreement (this “Agreement”), entered into and effective as of November 20,
2014 (the “Effective Date”), is by and between Orthofix International N.V., a company organized under the laws of Curacao (the “Company”), Davide Bianchi, an individual (the “Executive”), born on
January 14, 1965, and, solely for purposes of Sections 6.1(b) and 7.4 hereof, Orthofix AG, a company organized under the laws of Switzerland and a wholly owned subsidiary of the Company (“AG”). 

PRELIMINARY STATEMENTS 

A. Executive currently serves as the Company’s President, Extremity Fixation pursuant to an Employment Contract, signed on
November 26, 2013, between Executive and AG (the “Existing Employment Agreement”), which Existing Employment Agreement is attached hereto as Exhibit C. 

B. In connection with the Existing Employment Agreement, AG and the Executive entered into a Non-Competition Agreement, signed on
November 26, 2013 (the “Non-Competition Agreement”), which Non-Competition Agreement is attached as Exhibit C to the Existing Employment Agreement. 

C. Executive, the Company and AG desire to (i) amend and restate the Existing Employment Agreement to reflect the terms described herein
(including that effective as of the date of this Agreement, Executive shall cease to be employed by AG and shall henceforth be employed by the Company pursuant to the terms of this Agreement) and (ii) amend the Non-Competition Agreement as
described in Sections 6.1(b) and 7.4 hereof. 
 D. Capitalized terms used herein and not otherwise defined have the meaning for them set
forth on Exhibit A attached hereto and incorporated herein by reference. 
 The parties, intending to be legally bound, hereby agree
as follows: 
 I. EMPLOYMENT AND DUTIES 

1.1 Duties. The Company hereby employs the Executive as an employee, and the Executive agrees to be employed by the
Company, upon the terms and conditions set forth herein. While serving as an employee of the Company, the Executive shall serve as the Company’s President, Extremity Fixation. The Executive shall have such power and authority and perform such
duties, functions and responsibilities as are associated with and incident to such positions, and as the Board may from time to time require of him. The Executive also agrees to serve, if elected, as an officer or director of any other direct or
indirect subsidiary of the Company, in each such case at no compensation in addition to that provided for in this Agreement, but the Executive serves in such positions solely as an accommodation to the Company and such positions shall grant him no
rights hereunder (including for purposes of the definition of Good Reason). 

 1.2 Services. During the Term (as defined in Section 1.3), and
excluding any periods of vacation, sick leave or disability, the Executive agrees to dedicate his regular work hours fully to the Company, spare time work shall not conflict with the business interest of the Company. 

1.3 Term of Employment. The term of this Agreement shall commence on the Effective Date and shall continue until the earlier of
(1) termination by either party in accordance with the terms of this Agreement or (2) automatically (a) at the end of the month in which the Executive reaches the legal retirement age (currently age 65) or (b) at the end of the
day on which the Executive receives an early retirement pension or a full pension for disability (the “Term”). 
 1.4
Place of Performance. During the Term, the Executive’s primary business office shall be his home residence in Switzerland, provided, however, that Executive shall also from time-to-time perform services from the Company’s
offices in Lewisville, Texas and Verona, Italy, and from such other locations as are agreed by the Company and the Executive. 
 1.5
Working Hours. Regular working hours are 40 hours per week (Monday through Friday). Nevertheless, the demands of the Executive’s position may require him to work irregular hours and the Executive undertakes to work such irregular
hours, at the request of the Company. To that end, the Executive agrees, in accordance with business requirements as well as legal limits, to work overtime as well as to work on Sundays and bank holidays. Upon request of the overtime, the Company
has to consider the business needs as well as the rights of the Executive. Overtime is covered inside the remuneration package. 
 II.
COMPENSATION 
 2.1 General. The base salary and Incentive Compensation (as defined in Section 2.3.) payable to the
Executive hereunder, as well as any stock-based compensation, including stock options, stock appreciation rights and restricted stock grants, shall be determined from time to time by the Board and paid pursuant to the Company’s customary
payroll practices or in accordance with the terms of the applicable Plans (as defined in Section 2.4). The Company shall pay the Executive in cash (in Swiss Francs), in accordance with the normal payroll practices of the Company, the base
salary and Incentive Compensation set forth below. For the avoidance of doubt, in providing any compensation payable in stock, the Company may withhold, deduct or collect from the compensation otherwise payable or issuable to the Executive a portion
of such compensation to the extent required to comply with applicable tax laws to the extent such withholding is not made or otherwise provided for pursuant to the agreement governing such stock-based compensation. 

  
 2 

 2.2 Base Salary. The Executive shall be paid an annual base salary of no less than
CHF 336,600, payable in 12 monthly installments of CHF 28,050 per month, while he is employed by the Company during the Term and this amount shall include all compensation for overtime; provided, however, that nothing shall
prohibit the Company from reducing the base salary as part of an overall cost reduction program that affects all senior executives of the Company Group and does not disproportionately affect the Executive, so long as such reductions do not reduce
the base salary to a rate that is less than 90% of the minimum base salary amount set forth above (or, if the minimum base salary amount has been increased during the Term, 90% of such increased amount). The base salary shall be reviewed annually by
the Board for increase (but not decrease, except as permitted above) as part of its annual compensation review, and any increased amount shall become the base salary under this Agreement. 

2.3 Bonus or other Incentive Compensation. With respect to each fiscal year of the Company during the Term, the Executive shall
be eligible to receive annual bonus compensation under the Company’s Executive Annual Incentive Plan or any successor plan (the “Bonus Plan”) based on the achievement of goals established by the Board from time to time (the
“Goals”). During the Term, the Executive will have a target bonus opportunity under the Bonus Plan of at least 60% of his then-applicable Base Salary and an opportunity to earn a maximum annual bonus of not less than 90% of his
then-applicable Base Salary. The amount of any actual payment will depend upon the achievement (or not) of the Goals established by the Board. Except as otherwise provided in this Agreement, to receive a bonus under the Bonus Plan, the Executive
must be employed on the date of payment of such bonus. Amounts payable under the Bonus Plan shall be determined by the Board and shall be paid following such fiscal year and no later than two and one-half months after the end of such fiscal year. In
addition, the Executive shall be eligible to receive such additional bonus or incentive compensation as the Board may establish from time to time in its sole discretion. Any bonus or incentive compensation under this Section 2.3 under the Bonus
Plan or otherwise is referred to herein as “Incentive Compensation.” Stock-based compensation shall not be considered Incentive Compensation under the terms of this Agreement unless the parties expressly agree otherwise in writing.

 2.4 Stock Compensation. The Executive shall be eligible to receive stock-based compensation, whether stock options, stock
appreciation rights, restricted stock grants or otherwise, under the Company’s 2012 Long Term Incentive Plan or other stock-based compensation plans as the Company may establish from time to time (collectively, the “Plans”).
The Executive shall be considered for such grants no less often than annually as part of the Board’s annual compensation review, but any such grants shall be at the sole discretion of the Board. 

  
 3 

 2.5 Car Allowance. The Executive shall receive an annual car allowance equal to CHF
24,000 per annum. 
 III. EMPLOYEE BENEFITS 

3.1 General. Subject only to any post-employment rights under Article V, so long as the Executive is employed by the Company
pursuant to this Agreement, he shall be eligible for the following benefits to the extent generally available to senior executives of the Company or by virtue of his position, tenure, salary and other qualifications. Any eligibility shall be subject
to and in accordance with the terms and conditions of the Company’s benefits policies and applicable plans (including as to deductibles, premium sharing, co-payments or other cost-splitting arrangements). 

3.2 Savings and Retirement Plans. The Executive shall be entitled to participate in, and enjoy the benefits of, all savings,
pension, salary continuation and retirement plans, practices, policies and programs generally available to senior executives of the Company. The premium contribution to the corporate pension scheme of the Company is compliant with the requirement of
the Swiss Occupational Pension Legislation BVG (Berufsvorsorgegesetz). The annual premium depends on the amount of the salary and the age of the Employee. At the present time, it is approximately CHF 56,400. Two thirds of the premium is paid by the
Company and one third by the Employee. The Employee’s contribution is deducted from his salary in monthly installments of approximately CHF 1,600. In addition, the Employee will receive further a voluntary contribution to the 3rd column in the
amount of CHF 6,739 per annum. 
 3.3 Welfare and Other Benefits. 

(a) The Executive and/or the Executive’s eligible dependents, as the case may be, shall be entitled to participate in, and
enjoy the benefits of, all welfare benefit plans, practices, policies and programs provided by the Company at a level that is generally available to other senior executives of the Company. 

(b) In the event that Executive is unable to perform his duties under this Agreement due to illness, the Executive shall
receive his salary according to the terms and conditions of the insurance for loss of earnings due to illness, which is covered by the Company. If insurance for loss of earnings due to illness has not been entered into, the continuation of pay shall
be determined by Art. 324a of the Swiss Code of Obligations. 
 (c) The Company shall take out accident insurance for the
employee according to Swiss law and to the terms usually offered by the Company. 

  
 4 

 3.4 Vacation. The Executive shall be entitled to 5 weeks paid vacation (25 working
days) per calendar year, in addition to bank and other public holidays. If the Executive’s employment begins or terminates during a calendar year, his entitlement to holidays shall be pro-rata temporis. The Company shall be entitled to require
the Executive to take holiday at its request and may also refuse to allow him to take holiday in circumstances where it would be inconvenient to the business. The Company reserves the right to refuse holiday up to and including the day before the
holiday is due to be taken. In the event the Company exercises such right to refuse holiday, the Company will reimburse the Executive for all prepaid, nonrefundable costs or penalties associated with the cancellation. 

3.5 Expenses. The Executive shall be entitled to receive prompt reimbursement for all reasonable business-related expenses
incurred by the Executive in performing his duties under this Agreement. Reimbursement of the Executive for such expenses will be made upon presentation to the Company of expense vouchers that are in sufficient detail to identify the nature of the
expense, the amount of the expense, the date the expense was incurred and to whom payment was made to incur the expense, all in accordance with the expense reimbursement practices, policies and procedures of the Company. 

3.6 Key Man Insurance. The Company shall be entitled to obtain a “key man” or similar life or disability insurance
policy on the Executive, and neither the Executive nor any of his family members, heirs or beneficiaries shall be entitled to the proceeds thereof. Such insurance shall be available to offset any payments due to the Executive pursuant to
Section 5.1 of this Agreement due to his death or Disability. 
 IV. TERMINATION OF EMPLOYMENT 

4.1 Termination by Mutual Agreement. The Executive’s employment may be terminated at any time during the Term by mutual
written agreement of the Company and the Executive. 
 4.2 Death. The Executive’s employment hereunder shall terminate
upon his death. 
 4.3 Disability. In the event the Executive incurs a Disability for a continuous period exceeding 90 days or
for a total of 180 days during any period of 12 consecutive months, the Company may, at its election, terminate the Executive’s employment during the Term by delivering a Notice of Termination (as defined in Section 4.7) to the Executive
30 days in advance of the date of termination. 

  
 5 

 4.4 Good Reason; Cause. The Executive may terminate his employment at any time
during the Term for Good Reason, the Company may terminate the Executive’s employment at any time during the Term for Cause, in each case by delivering a Notice of Termination to the other party 30 days in advance of the date of termination;
provided, however, that each party agrees not to terminate this Agreement pursuant to this provision until it has given the other party at least 30 days in which to cure the circumstances set forth in the Notice of Termination
constituting Good Reason or Cause, as applicable, and if such circumstances are not cured by the 30th day, the Executive’s employment shall terminate on such date. 

4.5 Termination without Cause by the Company. The Company may terminate the Executive’s employment at any time during the
Term without Cause by delivering to the Executive a Notice of Termination 6 months in advance of the date of termination; provided that as part of such notice the Company may request that the Executive immediately tender the resignations
contemplated by Section 4.8 and otherwise cease performing his duties hereunder. The date of termination shall be the date set forth in the Notice of Termination. 

4.6 Termination without Good Reason by the Executive. The Executive may voluntarily terminate his employment at any time during
the Term by delivering to the Company a Notice of Termination 6 months in advance of the date of termination (a “Voluntary Termination”). For purposes of this Agreement, a Voluntary Termination shall not include a termination of the
Executive’s employment by reason of death or for Good Reason, but shall include voluntary termination upon retirement in accordance with the Company’s retirement policies and/or applicable law. A Voluntary Termination shall not be
considered a breach or other violation of this Agreement. 
 4.7 Notice of Termination. Any termination of employment under
this Agreement by the Company or the Executive requiring a notice of termination shall require delivery of a written notice by one party to the other party (a “Notice of Termination”). A Notice of Termination must indicate the
specific termination provision of this Agreement relied upon and the date of termination. The date of termination specified in the Notice of Termination shall comply with the time periods required under this Article IV, and may in no event be
earlier than the date such Notice of Termination is delivered to or received by the party getting the notice. No Notice of Termination under Section 4.4 shall be effective until the applicable cure period, if any, shall have expired without the
Company or the Executive, respectively, having corrected the event or events subject to cure to the reasonable satisfaction of the other party. The terms “termination” and “termination of employment,” as used herein are intended
to mean a termination of employment which constitutes a “separation from service” under Section 409A. 
 4.8
Resignations. Upon ceasing to be an employee of the Company for any reason, or earlier upon request by the Company pursuant to Section 4.5, the Executive agrees to immediately tender written resignations to the Company with respect
to all officer and director positions he may hold at that time with any member of the Company Group. 

  
 6 

 V. PAYMENTS ON TERMINATION 

5.1 Death; Disability; Resignation for Good Reason; Termination without Cause. If at any time during the Term the
Executive’s employment with the Company is terminated due to his death, Disability, resignation for Good Reason or termination by the Company without Cause, the Executive shall be entitled to the payment and benefits set forth below only: 

(a) Any unpaid base salary and accrued unpaid vacation then owing through the date of termination, which amounts shall be paid
to the Executive within 30 days of the date of termination. 
 (b) If, for the calendar year prior to the Executive’s
termination, Executive has satisfied a sufficient portion of the Goals to be eligible for a bonus under the Bonus Plan, and such bonus has not yet been paid as of the date of Executive’s termination, Executive shall be paid a bonus under the
Bonus Plan for such prior calendar year, which bonus shall be paid at the same time as payments are made to other participants in the Bonus Plan. 

(c) A pro rata amount of any Bonus Plan Incentive Compensation for the fiscal year of his termination of employment (based on
the number of business days he was actually employed by the Company during the fiscal year in which the termination of employment occurs) based on the achievement of the Goals for the calendar year of his termination of employment. Nothing in the
foregoing sentence is intended to give the Executive greater rights to such Incentive Compensation than a pro rata portion of what he would ordinarily be entitled to under the Bonus Plan Incentive Compensation that would have been applicable to him
had his employment not been terminated, it being understood that Executive’s termination of employment shall not be used to disqualify Executive from or make him ineligible for a pro rata portion of the Bonus Plan Incentive Compensation to
which he would otherwise have been entitled. The pro rata portion of Bonus Plan Incentive Compensation shall, subject to Section 7.16, be paid at the time such Incentive Compensation is paid to other participants in the Bonus Plan. 

(d) A one-time lump sum severance payment in an amount equal to 100% of the Executive’s Base Amount plus, for a
termination by the Executive for Good Reason or a termination by the Company without Cause only, CHF 11,500 to be used by the Executive for outplacement services. The lump sum severance payment shall be paid on the 60th day following the Executive’s termination of employment, provided that prior to such time the Executive has signed the release described in Section 5.4 and the applicable revocation period
for such release has expired, subject, in the case of termination other than as a result of the Executive’s death, to Section 7.16. 

  
 7 

 (e) The post-termination exercise period for any options which are vested as of
Executive’s termination of employment shall be as set forth in the applicable award agreement, provided, however, that any provisions in such an award agreement purporting to give the Executive greater post-termination exercise rights because
he is a party to an employment agreement shall not be given effect. 
 (f) If continuation coverage is available under the
terms of the applicable plan(s) and Executive selects such continuation coverage in a timely manner, for the lesser of 12 months after termination or until the Executive secures coverage from new employment, Executive shall receive a monthly cash
payment equal to the cost of continuation coverage under the Company’s medical and dental benefit plans in which the Executive was participating at the time of his termination of employment at the level at which the Executive was participating
at the time of his termination of coverage (e.g. single or family coverage), less the amount of the employee contribution for such coverage. Such payments shall be subject to all applicable taxes and withholding. 

In the event the Executive’s termination is pursuant to Section 4.2, payment shall be made to the Executive’s heirs, beneficiaries, or personal
representatives, as applicable. Further, any payments by the Company under Section 5.1(d) above pursuant to a termination under Section 4.2 or 4.3 shall be reduced by any payments received by the Executive pursuant to any of the
Company’s employee welfare benefit plans providing for payments in the event of death or Disability. 
 5.2 Termination for
Cause; Voluntary Termination. If at any time during the Term the Executive’s employment with the Company is terminated by the Company for Cause or due to a Voluntary Termination, the Executive shall be entitled to only the following: 

(a) any unpaid base salary and accrued unpaid vacation then owing through the date of termination, which amounts shall be paid
to the Executive within 30 days of the date of termination. 
 (b) whatever rights, if any, that are available to the
Executive upon such a termination pursuant to the Plans or any award documents related to any stock-based compensation such as stock options, stock appreciation rights or restricted stock grants. This Agreement does not grant any greater rights with
respect to such items than provided for in the Plans or the award documents in the event of any termination for Cause or a Voluntary Termination. 

  
 8 

 5.3 Termination following Change of Control. The Executive shall have no specific
right to terminate this Agreement or right to any severance payments or other benefits solely as a result of a Change of Control or Potential Change of Control. However, if during a Change of Control Period during the Term, (a) the Executive
terminates his employment with the Company for Good Reason, or (b) the Company terminates the Executive’s employment without Cause, the lump sum severance payment under Section 5.1(d) shall be increased from 100% of the Base Amount to
150% of the Base Amount and the period of monthly payment of medical/dental continuation coverage (if available/applicable) for medical and dental benefits under Section 5.1(f) shall be increased to 18 months from 12 months. The terms and
rights with respect to such payments shall otherwise be governed by Section 5.1. No other rights result from termination during a Change of Control Period; provided, however, that nothing in this Section 5.3 is intended to
limit or impair the rights of the Executive under the Plans or any documents evidencing any stock-based compensation awards in the event of a Change of Control if such Plans or award documents grant greater rights than are set forth herein. 

5.4 Release. The Company’s obligation to pay or provide any severance benefits (which does not include the payment of salary
through the date of termination) to the Executive following termination (other than in the event of death pursuant to Section 4.2) is expressly subject to the requirement that (i) the Executive execute the release in the form attached
hereto as Exhibit B (the “Release”) prior to the 60th day following Executive’s termination of employment, and (ii) any revocation period for the Release shall
have expired prior to the 60th day following Executive’s termination of employment without Executive having breached or revoked the Release. In the event that the Executive does not sign the
Release, or signs and later revokes the Release, all of the Company’s obligations to make severance payments and provide severance benefits under this Agreement (which does not include the payment of salary through the date of termination) will
terminate in full, and the Executive understands and agrees that he will not be entitled to any severance benefits in connection with his termination of employment. 

5.5 Other Benefits. Except as expressly provided otherwise in this Article V, the provisions of this Agreement shall not affect
the Executive’s participation in, or terminating distributions and vested rights under, any pension, profit-sharing, insurance or other employee benefit plan of the Company Group to which the Executive is
entitled pursuant to the terms of such plans, or expense reimbursements he is otherwise entitled to under Section 3.5. 
 5.6
No Mitigation. It will be difficult, and may be impossible, for the Executive to find reasonably comparable employment following the termination of the Executive’s employment, and the protective provisions under Article VI contained
herein will further limit the employment opportunities for the Executive. In addition, the Company’s severance pay policy applicable in general to its salaried employees does not provide for mitigation, offset or reduction of any severance
payment received thereunder. Accordingly, the parties hereto expressly agree that the payment of severance compensation in accordance with the terms of this Agreement will be liquidated damages, and that the Executive shall not be required to seek
other employment, or otherwise, to mitigate any payment provided for hereunder. 

  
 9 

 5.7 Limitation; No Other Rights. Any amounts due or payable under this Article V
are in the nature of severance payments or liquidated damages, or both, and the Executive agrees that such amounts shall fully compensate the Executive, his dependents, heirs and beneficiaries and the estate of the Executive for any and all direct
damages and consequential damages that they do or may suffer as a result of the termination of the Executive’s employment, or both, and are not in the nature of a penalty. Notwithstanding the above, no member of the Company Group shall be
liable to the Executive under any circumstances for any consequential, incidental, punitive or similar damages. The Executive expressly acknowledges that the payments and other rights under this Article V shall be the sole monies or other rights to
which the Executive shall be entitled to and such payments and rights will be in lieu of any other rights or remedies he might have or otherwise be entitled to. In the event of any termination under this Article V, the Executive hereby expressly
waives any rights to any other amounts, benefits or other rights not described herein, including without limitation whether arising under current or future compensation or severance or similar plans, agreements or arrangements of any member of the
Company Group (including as a result of changes in (or of) control or similar transactions), unless Executive’s entitlement to participate or receive benefits thereunder has been expressly approved by the Board. Similarly, no one in the Company
Group shall have any further liability or obligation to the Executive following the date of termination, except as expressly provided in this Agreement. 

5.8 No Right to Set Off. The Company shall not be entitled to set off against amounts payable to the Executive hereunder any
amounts earned by the Executive in other employment, or otherwise, after termination of his employment with the Company, or any amounts which might have been earned by the Executive in other employment had he sought such other employment. 

5.9 Adjustments Due to Excise Tax (If Applicable). 

(a) While the parties do not expect the Executive’s compensation hereunder to be subject to U.S. income taxation, if it is
determined that any amount or benefit to be paid or payable to the Executive under this Agreement or otherwise in conjunction with his employment (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or
otherwise in conjunction with his employment) would give rise to liability of the Executive for the excise tax imposed by Section 4999 of the Code, as amended from time to time, or any successor provision (the “Excise Tax”),
then the amount or benefits payable to the Executive (the total value of such amounts or benefits, the “Payments”) shall be reduced by the Company so that no portion of the Payments to the Executive is subject to the Excise Tax. The
Company shall reduce or eliminate the Payments by first reducing or eliminating any cash payments (with 

  
 10 

 
the payments to be made furthest in the future being reduced first), then by reducing or eliminating any accelerated vesting of options, then by reducing or eliminating any accelerated vesting of
restricted stock, then by reducing or eliminating any other remaining Payments. Such reduction shall only be made if the net amount of the Payments, as so reduced (and after deduction of applicable federal, state, and local income and payroll taxes
on such reduced Payments other than the Excise Tax (collectively, the “Deductions”)) is greater than the excess of (1) the net amount of the Payments, without reduction (but after making the Deductions) over (2) the amount
of Excise Tax to which the Executive would be subject in respect of such Payments. 
 (b) In the event it is determined that
the Excise Tax may be imposed on the Executive prior to the possibility of any reductions being made pursuant to Section 5.9(a), the Company and the Executive agree to take such actions as they may mutually agree in writing to take to avoid any
such reductions being made or, if such reduction is not otherwise required by Section 5.9(a), to reduce the amount of Excise Tax imposed. 

(c) The independent public accounting firm serving as the Company’s auditing firm, or such other accounting firm, law firm
or professional consulting services provider of national reputation and experience reasonably acceptable to the Company and Executive (the “Accountants”) shall make in writing in good faith all calculations and determinations under
this Section 5.9, including the assumptions to be used in arriving at any calculations. For purposes of making the calculations and determinations under this Section 5.9, the Accountants and each other party may make reasonable assumptions
and approximations concerning the application of Section 280G and Section 4999. The Company and Executive shall furnish to the Accountants and each other such information and documents as the Accountants and each other may reasonably
request to make the calculations and determinations under this Section 5.9. The Company shall bear all costs the Accountants incur in connection with any calculations contemplated hereby. 

5.10 Social Security. The Executive and the Company shall each pay half of the contributions which are owed as a matter of law
for AHV (Old Age and Survivors’ Insurance), IV (Invalidity Insurance), EO (Loss of Earnings) and ALV (Unemployment Insurance). The Executive’s contributions shall be deducted by the Company from his gross salary. 

  
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 VI. PROTECTIVE PROVISIONS 

6.1 Noncompetition. 

(a) Without the prior written consent of the Board (which may be withheld in the Board’s sole discretion), so long as the
Executive is an employee of the Company or any other member of the Company Group, the Executive agrees that he shall not anywhere in the Prohibited Area, for his own account or the benefit of any other, engage or participate in or assist or
otherwise be connected with a Competing Business. For the avoidance of doubt, the Executive understands that this Section 6.1 prohibits the Executive from acting for himself or as an officer, employee, manager, operator, principal, owner,
partner, shareholder, advisor, consultant of, or lender to, any individual or other Person that is engaged or participates in or carries out a Competing Business or is actively planning or preparing to enter into a Competing Business. The parties
agree that such prohibition shall not apply to the Executive’s passive ownership of not more than 5% of a publicly-traded company. In the case of any violation of this non-competition clause, the Executive shall pay to the Company liquidated
damages in the amount of CHF 28,050 for each instance of violation. The payment of liquidated damages shall not discharge the Executive from observing this non-competition covenant. In addition to the payment of liquidated damages and further
damages incurred by the Company, the Company shall have the right to request the termination of any of the Executive’s activities which violate this non-competition covenant. 

(b) In addition to the obligations described in Section 6.1(a) hereof (which obligations apply with respect to the period
during which Executive is an employee of the Company), Executive shall also remain bound after the date hereof by the terms of the Non-Competition Agreement. In connection with the foregoing and notwithstanding anything in this Agreement to the
contrary, the Executive, the Company and AG expressly agree that effective as of the date of this Agreement, (i) all rights and obligations of AG under the Non-Competition Agreement shall be assigned (and Executive consents to such assignment)
to the Company, (ii) the Non-Competition Agreement shall remain in full force and effect, with the “Employment Relationship” referenced in the Non-Competition Agreement being deemed to have continued (and to be uninterrupted) for
purposes of the Non-Competition Agreement following the transition as of the date of this Agreement of the Executive’s employment from AG to the Company, (iii) the Company shall have been deemed to have satisfied all payment obligations
under Section 3 of the Non-Competition Agreement (which amounts were previously paid by AG), and (iv) in the event that Executive’s employment hereunder is terminated by the Company without Cause or as a result of Executive’s
resignation for Good Reason, the Company shall have been deemed to have satisfied all payment and remuneration obligations referenced in Section 5 of the Non-Competition Agreement and the “Option” referenced in the Non-Competition
Agreement shall be deemed to be exercised and fully paid-up thereunder. 

  
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 6.2 No Solicitation or Interference. So long as the Executive is an employee of the
Company or any other member of the Company Group (other than while an employee acting solely for the express benefit of the Company Group) and for a twelve-month period thereafter, the Executive shall not, whether for his own account or for the
account or benefit of any other Person, throughout the Prohibited Area: 
 (a) request, induce or attempt to influence
(i) any customer of any member of the Company Group to limit, curtail, cancel or terminate any business it transacts with, or products or services it receives from or sells to, or (ii) any Person employed by (or otherwise engaged in
providing services for or on behalf of) any member of the Company Group to limit, curtail, cancel or terminate any employment, consulting or other service arrangement, with any member of the Company Group. Such prohibition shall expressly extend to
any hiring or enticing away (or any attempt to hire or entice away) any employee or consultant of the Company Group. 
 (b)
solicit from or sell to any customer any products or services that any member of the Company Group provides or is capable of providing to such customer and that are the same as or substantially similar to the products or services that any member of
the Company Group, sold or provided while the Executive was employed with, or providing services to, any member of the Company Group. 

(c) contact or solicit any customer for the purpose of discussing (i) services or products that are competitive with and
the same or closely similar to those offered by any member of the Company Group or (ii) any past or present business of any member of the Company Group. 

(d) request, induce or attempt to influence any supplier, distributor or other Person with which any member of the Company
Group has a business relationship or to limit, curtail, cancel or terminate any business it transacts with any member of the Company Group. 

(e) otherwise interfere with the relationship of any member of the Company Group with any Person which is, or within one-year
prior to the Executive’s date of termination was, doing business with, employed by or otherwise engaged in performing services for, any member of the Company Group. 

6.3 Confidential Information. During the period of the Executive’s employment with the Company or any member of the Company
Group and at all times thereafter, the Executive shall hold in secrecy for the Company all Confidential Information that may come to his knowledge, may have come to his attention or may have come into his possession or control while employed by the
Company (or otherwise 

  
 13 

 
performing services for any member of the Company Group). Notwithstanding the preceding sentence, the Executive shall not be required to maintain the confidentiality of any Confidential
Information which (a) is or becomes available to the public or others in the industry generally (other than as a result of disclosure or inappropriate use, or caused, by the Executive in violation of this Section 6.3) or (b) the
Executive is compelled to disclose under any applicable laws, regulations or directives of any government agency, tribunal or authority having jurisdiction in the matter or under subpoena. Except as expressly required in the performance of his
duties to the Company under this Agreement, the Executive shall not use for his own benefit or disclose (or permit or cause the disclosure of) to any Person, directly or indirectly, any Confidential Information unless such use or disclosure has been
specifically authorized in writing by the Company in advance. During the Executive’s employment and as necessary to perform his duties under Section 1.1, the Company will provide and grant the Executive access to the Confidential
Information. The Executive recognizes that any Confidential Information is of a highly competitive value, will include Confidential Information not previously provided the Executive and that the Confidential Information could be used to the
competitive and financial detriment of any member of the Company Group if misused or disclosed by the Executive. The Company promises to provide access to the Confidential Information only in exchange for the Executive’s promises contained
herein, expressly including the covenants in Sections 6.1, 6.2 and 6.4. 
 6.4 Inventions. 

(a) The Executive shall promptly and fully disclose to the Company any and all ideas, improvements, discoveries and inventions,
whether or not they are believed to be patentable (“Inventions”), that the Executive conceives of or first actually reduces to practice, either solely or jointly with others, during the Executive’s employment with the Company
or any other member of the Company Group, and that relate to the business now or thereafter carried on or contemplated by any member of the Company Group or that result from any work performed by the Executive for any member of the Company Group.

 (b) The Executive acknowledges and agrees that all Inventions shall be the sole and exclusive property of the Company (or
member of the Company Group) and are hereby assigned to the Company (or applicable member of the Company Group). During the term of the Executive’s employment with the Company (or any other member of the Company Group) and thereafter, whenever
requested to do so by the Company, the Executive shall take such action as may be requested to execute and assign any and all applications, assignments and other instruments that the Company shall deem necessary or appropriate in order to apply for
and obtain Letters Patent of the United States and/or of any foreign countries for such Inventions and in order to assign and convey to the Company (or any other member of the Company Group) or their nominees the sole and exclusive right, title and
interest in and to such Inventions. 

  
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 (c) The Company acknowledges and agrees that the provisions of this
Section 6.4 do not apply to an Invention: (i) for which no equipment, supplies, or facility of any member of the Company Group or Confidential Information was used; (ii) that was developed entirely on the Executive’s own time and
does not involve the use of Confidential Information; (iii) that does not relate directly to the business of any member of the Company Group or to the actual or demonstrably anticipated research or development of any member of the Company
Group; and (iv) that does not result from any work performed by the Executive for any member of the Company Group. 
 6.5
Return of Documents and Property. Upon termination of the Executive’s employment for any reason, the Executive (or his heirs or personal representatives) shall immediately deliver to the Company (a) all documents and materials
containing Confidential Information (including without limitation any “soft” copies or computerized or electronic versions thereof) or otherwise containing information relating to the business and affairs of any member of the Company Group
(whether or not confidential), and (b) all other documents, materials and other property belonging to any member of the Company Group that are in the possession or under the control of the Executive. 

6.6 Reasonableness; Remedies. The Executive acknowledges that each of the restrictions set forth in this Article VI are
reasonable and necessary for the protection of the Company’s business and opportunities (and those of the Company Group) and that a breach of any of the covenants contained in this Article VI would result in material irreparable injury to the
Company and the other members of the Company Group for which there is no adequate remedy at law and that it will not be possible to measure damages for such injuries precisely. Accordingly, the Company and any member of the Company Group shall be
entitled to the remedies of injunction and specific performance, or either of such remedies, as well as all other remedies to which any member of the Company Group may be entitled, at law, in equity or otherwise, without the need for the posting of
a bond or by the posting of the minimum bond that may otherwise be required by law or court order. 
 6.7 Extension; Survival.
The Executive and the Company agree that the time periods identified in this Article VI will be stayed, and the Company’s obligation to make any payments or provide any benefits under Article V shall be subject to a right of set-off, during the
period of any breach or violation by the Executive of the covenants contained herein. The parties further agree that this Article VI shall survive the termination or expiration of this Agreement for any reason. The Executive acknowledges that his
agreement to each of the provisions of this Article VI is fundamental to the Company’s willingness to enter into this Agreement and for it to provide for the severance and other benefits described in Article V, none of which the Company was
required to do prior to the date hereof. Further, it is the express intent and desire of the parties for each provision of this Article VI to be enforced to the fullest extent permitted 

  
 15 

 
by law. If any part of this Article VI, or any provision hereof, is deemed illegal, void, unenforceable or overly broad (including as to time, scope and geography), the parties express desire is
that such provision be reformed to the fullest extent possible to ensure its enforceability or if such reformation is deemed impossible then such provision shall be severed from this Agreement, but the remainder of this Agreement (expressly
including the other provisions of this Article VI) shall remain in full force and effect. 
 VII. MISCELLANEOUS 

7.1 Notices. Any notice required or permitted under this Agreement shall be given in writing and shall be deemed to have been
effectively made or given if personally delivered, or if sent via recognized overnight delivery service (e.g., FedEx, UPS, or DHL), all courier charges prepaid, or sent via confirmed e-mail or facsimile to the other party at its address set forth
below in this Section 7.1, or at such other address as such party may designate by written notice to the other party hereto. Any effective notice hereunder shall be deemed given on the date personally delivered, or one business day after it is
sent via overnight delivery service or via confirmed e-mail or facsimile, as the case may be, to the following address: 

If to the Company: 

Orthofix International N.V. 

Attn: Chief Administrative Officer, General 

Counsel and Corporate Secretary 

3451 Plano Parkway 

Lewisville, Texas 75056 

Facsimile: (214) 937-3096 

E-mail: jeffschumm@orthofix.com 

With a copy, which shall not constitute notice, to: 

Hogan Lovells US LLP 

555 Thirteenth Street, N.W. 

Washington, D.C. 20004 

Facsimile: (202) 637-5910 

Email: joseph.gilligan@hoganlovells.com 

If to the Executive: 

Davide Bianchi 

Chemin du Mont Blanc 4 

1272 Genolier, 

Switzerland 

  
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 7.2 Legal Fees. 

(a) The Company shall pay all reasonable legal fees and expenses of the Executive’s counsel in connection with the
preparation and negotiation of this Agreement. 
 (b) Any and all disputes arising from the employment relationship between
the Company and the Executive, shall be settled exclusively by arbitration to be governed by ICC Rules (International Chamber of Commerce) and resolved by three (3) arbitrators appointed as follows: The Company shall jointly appoint one
(1) arbitrator, the executive shall appoint one (1) arbitrator and the third arbitrator shall be appointed by the already appointed arbitrators. The place of arbitration shall be Zug, Switzerland, and shall be conducted in the English
language. 
 7.3 Severability. If an arbitrator or a court of competent jurisdiction determines that any term or provision
hereof is void, invalid or otherwise unenforceable, (a) the remaining terms and provisions hereof shall be unimpaired and (b) such arbitrator or court shall replace such void, invalid or unenforceable term or provision with a term or
provision that is valid and enforceable and that comes closest to expressing the intention of the void, invalid or unenforceable term or provision. For the avoidance of doubt, the parties expressly intend that this provision extend to Article VI of
this Agreement. 
 7.4 Entire Agreement; Termination of Existing Employment Agreement. Subject to Section 6.1(b), this
Agreement shall supersede the Existing Employment Agreement as of the Effective Date, and from and after such Effective Date the Existing Employment Agreement shall be of no further force or effect. Executive’s service as an officer of the
Company (including as its President, Extremity Fixation) shall be uninterrupted by the termination of the Existing Employment Agreement and the effectiveness of this Agreement (i.e., Executive will remain seamlessly employed within the Company
Group), and such termination of the Existing Employment Agreement and effectiveness of this Agreement shall not cause any severance payment or other termination-related payment or right to accrue pursuant to the Existing Employment Agreement. For
the avoidance of doubt, any accrued vacation that Executive has earned under the Existing Employment Agreement shall be fully transferred to Executive’s new employment relationship with the Company under this Agreement, and Executive’s
service to the Company under the Plans shall be deemed uninterrupted. Subject to the foregoing, this Agreement (and the Non-Competition Agreement) represents the entire agreement of the parties with respect to the subject matter hereof and shall
supersede any and all previous contracts, arrangements or understandings between the Company, AG and the Executive relating to the Executive’s employment by the Company. Nothing in this Agreement shall modify or alter any indemnity agreement
between the Company and the Executive or alter or impair any of the Executive’s rights under the Plans or related award agreements. In the event of any conflict between this Agreement and any other agreement between the Executive and the
Company (or any other member of the Company Group), this Agreement shall control. 

  
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 7.5 Amendment; Modification. Except for increases in Base Salary, and adjustments
with respect to Incentive Compensation, made as provided in Article II, this Agreement may be amended at any time only by mutual written agreement of the Executive and the Company; provided, however, that, notwithstanding any
other provision of this Agreement or the Plans (or any award documents under the Plans), the Company may reform this Agreement, the Plans (or any award documents under the Plans) or any provision thereof (including, without limitation, an amendment
instituting a six-month waiting period before a distribution) or otherwise as contemplated by Section 7.16 below. 
 7.6
Withholding. The Company shall be entitled to withhold, deduct or collect or cause to be withheld, deducted or collected from payment any amount of withholding taxes required by law, statutory deductions or collections with respect to
payments made to the Executive in connection with his employment, termination (including Article V) or his rights hereunder, including as it relates to stock-based compensation. 

7.7 Representations. 

(a) The Executive hereby represents and warrants to the Company that (i) the execution, delivery and performance of this
Agreement by the Executive do not and shall not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which the Executive is a party or by which he is bound, and (ii) upon the
execution and delivery of this Agreement by the Company, this Agreement shall be the valid and binding obligation of the Executive, enforceable in accordance with its terms. The Executive hereby acknowledges and represents that he has consulted with
legal counsel regarding his rights and obligations under this Agreement and that he fully understands the terms and conditions contained herein. 

(b) The Company hereby represents and warrants to the Executive that (i) the execution, delivery and performance of this
Agreement by the Company do not and shall not conflict with, breach, violate or cause a default under any material contract, agreement, instrument, order, judgment or decree to which the Company is a party or by which it is bound and (ii) upon
the execution and delivery of this Agreement by the Executive, this Agreement shall be the valid and binding obligation of the Company, enforceable in accordance with its terms. 

  
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 7.8 Governing Law; Jurisdiction. This Agreement is subject to Swiss law. Except as
otherwise provided in Section 7.2, all actions or proceedings arising out of this Agreement shall exclusively be heard and determined in courts in Zug, Switzerland having appropriate jurisdiction. The parties expressly consent to the exclusive
jurisdiction of such courts in any such action or proceeding and waive any objection to venue laid therein or any claim for forum nonconveniens. 

7.9 Successors. This Agreement shall be binding upon and inure to the benefit of, and shall be enforceable by the Executive, the
Company, and their respective heirs, executors, administrators, legal representatives, successors, and assigns. In the event of a Business Combination (as defined in clause (iii) of Change of Control), the provisions of this Agreement shall be
binding upon and inure to the benefit of the parent or entity resulting from such Business Combination or to which the assets shall be sold or transferred, which entity from and after the date of such Business Combination shall be deemed to be the
Company for purposes of this Agreement. In the event of any other assignment of this Agreement by the Company, the Company shall remain primarily liable for its obligations hereunder. The Executive expressly acknowledges that the members of the
Company Group (and their successors and assigns) are third-party beneficiaries of this Agreement and may enforce this Agreement on behalf of themselves or the Company. Both parties agree that there are no third-party beneficiaries to this Agreement
other than as expressly set forth in this Section 7.9. 
 7.10 Nonassignability. Neither this Agreement nor any right or
interest hereunder shall be assignable by the Executive, his beneficiaries, dependents or legal representatives without the Company’s prior written consent; provided, however, that nothing in this Section 7.10 shall preclude
(a) the Executive from designating a beneficiary to receive any benefit payable hereunder upon his death or (b) the executors, administrators or other legal representatives of the Executive or his estate from assigning any rights hereunder
to the Person(s) entitled thereto. 
 7.11 No Attachment. Except as required by law, no right to receive payments under this
Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge or hypothecation in favor of any third party, or to execution, attachment, levy or similar process or assignment by operation of law
in favor of any third party, and any attempt, voluntary or involuntary, to effect any such action shall be null, void and of no effect. 

7.12 Waiver. No term or condition of this Agreement shall be deemed to have been waived, nor there be any estoppel against the
enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless specifically stated therein, and each such waiver shall
operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than that specifically waived. 

  
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 7.13 Construction. The headings of articles or sections herein are included solely
for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement. References to days found herein shall be actual calendar days and not business days unless expressly provided otherwise.

 7.14 Counterparts. This Agreement may be executed by any of the parties hereto in counterparts, each of which shall be
deemed to be an original, but all such counterparts shall together constitute one and the same instrument. 
 7.15
Effectiveness. This Agreement shall be effective as of the Effective Date when signed by the Executive and the Company. 

7.16 Code Section 409A. 

(a) Although the parties hereto do not expect payments hereunder to be subject to U.S. income taxation, in the event such U.S.
income taxation were to apply to any payments hereunder, it is the intent of the parties that payments and benefits under this Agreement comply with Section 409A and, accordingly, to interpret, to the maximum extent permitted, this Agreement to
be in compliance therewith. If the Executive notifies the Company in writing (with specificity as to the reason therefore) that the Executive believes that any provision of this Agreement (or of any award of compensation, including equity
compensation or benefits) would cause the Executive to incur any additional tax or interest under Section 409A and the Company concurs with such belief or the Company (without any obligation whatsoever to do so) independently makes such
determination, the parties shall, in good faith, reform such provision to try to comply with Code Section 409A through good faith modifications to the minimum extent reasonably appropriate to conform with Code Section 409A. To the extent
that any provision hereof is modified by the parties to try to comply with Code Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent of the applicable
provision without violating the provisions of Code Section 409A. Notwithstanding the foregoing, the Company shall not be required to assume any economic burden in connection therewith. 

(b) If the Executive is deemed on the date of “separation from service” to be a “specified employee” within
the meaning of that term under Section 409A(a)(2)(B), then, with regard to any payment or the provision of any benefit that is specified as subject to this Section, such payment or benefit shall, if required to avoid the imposition of
additional tax or interest under Section 409A, be made or provided at the date which is the earlier of (A) the expiration of the six (6)-month period measured from the date of such “separation from service” of the Executive, and
(B) the date of the Executive’s death (the “Delay Period”). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to 

  
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this Section 7.16 (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to the Executive in a lump sum,
and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. If a payment is to be made promptly after a date, it shall be made within sixty
(60) days thereafter. 
 (c) Any expense reimbursement under this Agreement shall be made promptly upon
Executive’s presentation to the Company of evidence of the fees and expenses incurred by the Executive and in all events on or before the last day of the taxable year following the taxable year in which such expense was incurred by the
Executive, and no such reimbursement or the amount of expenses eligible for reimbursement in any taxable year shall in any way affect the expenses eligible for reimbursement in any other taxable year. 

7.17 Survival. As provided in Section 1.3 with respect to expiration of the Term, Articles VI and VII shall survive the
termination or expiration of this Agreement for any reason. 
 (Remainder of this page intentionally left blank) 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date. 

 

					
	ORTHOFIX INTERNATIONAL N.V.	 		 	EXECUTIVE
			
	 /s/ Bradley R. Mason
	 		 	 /s/ Davide Bianchi

	Bradley R. Mason	 		 	Davide Bianchi
	Chief Executive Officer	 		 	an Individual
			
	ORTHOFIX AG	 		 	
			
	 /s/ Armin L. Landtwing
	 		 	
	Name: Armin L. Landtwing	 		 	
	Title: Member of the Board of Directors

  
 22 

 EXHIBIT A 

Definitions 
 For purposes
of this Agreement, the following capitalized terms have the meanings set forth below: 
 “Base Amount” shall mean an
amount equal to the sum of: 
 (i) the Executive’s annual base salary at the highest annual rate in effect at any time during the Term;
and 
 (ii) the lower of (i) the Executive’s target bonus under Section 2.3 in effect during the fiscal year in which
termination of employment occurs, or (ii) the average of the Incentive Compensation (as defined in Section 2.3) actually earned by the Executive (A) with respect to the two consecutive annual Incentive Compensation periods ending
immediately prior to the year in which termination of the Executive’s employment with the Company occurs or, (B) if greater, with respect to the two consecutive annual Incentive Compensation periods ending immediately prior to the Change
of Control Date or the Potential Change of Control Date. 
 “Board” shall mean the Board of Directors of the
Company. Any obligation of the Board other than termination for Cause under this Agreement may be delegated to an appropriate committee of the Board, including its compensation committee, and references to the Board herein shall be references to any
such committee, as appropriate. 
 “Cause” shall mean termination of the Executive’s employment because of the
Executive’s: (i) involvement in fraud, misappropriation or embezzlement related to the business or property of the Company; (ii) conviction for, or guilty plea to, or plea of nolo contendere to, a felony or crime of similar gravity in
the jurisdiction in which such conviction or guilty plea occurs; (iii) intentional wrongful disclosure of Confidential Information or other intentional wrongful violation of Article VI; (iv) willful and continued failure by the Executive
to follow the reasonable instructions of the Board or Chief Executive Officer; (v) willful commission by the Executive of acts that are dishonest and demonstrably and materially injurious to a member of the Company Group, monetarily or
otherwise; (vi) willful or material violation of, or willful or material noncompliance with, any securities law, rule or regulation or stock exchange listing rule adversely affecting the Company Group including without limitation (a) if
the Executive has undertaken to provide any certification or related back-up material required for the chief and principal executive and financial officers to provide a certification required under the Sarbanes-Oxley Act of 2002, including the rules
and regulations promulgated thereunder (the “Sarbanes-Oxley Act”), and he willfully or materially fails to take reasonable and appropriate steps to determine whether or not the certificate or related back-up material was accurate or
otherwise in compliance with the requirements of the Sarbanes-Oxley Act or (b) the Executive’s willful or material failure to establish and 

  
 23 

 
administer effective systems and controls applicable to his area of responsibility necessary for the Company to timely and accurately file reports pursuant to Section 13 or 15(d) of the
Exchange Act. No act or omission shall be deemed willful or material for purposes of this definition if taken or omitted to be taken by Executive in a good faith belief that such act or omission to act was in the best interests of the Company Group
or if done at the express direction of the Board. 
 “Change of Control” shall occur upon any of the following
events: 
 (i) the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of
the Exchange Act) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act), in any individual transaction or series of related transactions, of 50% or more of either (A) the then outstanding shares of common
stock of the Company (the “Outstanding Common Stock”) or (B) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding
Voting Securities”); excluding, however, the following: (1) any acquisition directly from the Company, other than an acquisition by virtue of the exercise of a conversion privilege unless the security being so converted
was itself acquired directly from the Company; (2) any acquisition by the Company; (3) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the Company; or
(4) any acquisition pursuant to a transaction which complies with clauses (A), (B) and (C) of subsection (iii) of this definition of Change of Control; 

(ii) a change in the composition of the Board such that the individuals who as of the Effective Date constitute the Board (the
“Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, for purposes of this paragraph, that any individual who becomes a member of the Board subsequent to the
Effective Date, whose appointment, election, or nomination for election by the Company’s shareholders was approved by a vote of at least a majority of those individuals who are members of the Board and who were also members of the Incumbent
Board (or deemed to be such pursuant to this proviso) shall be considered as though such individual were a member of the Incumbent Board; but provided further that any such individual whose initial assumption of office occurs as a
result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person
other than the Board shall not be so considered as a member of the Incumbent Board; 

  
 24 

 (iii) consummation of a reorganization, merger, consolidation or other business
combination or the sale or other disposition of all or substantially all of the assets of the Company (including assets that are shares held by the Company in its subsidiaries) (any such transaction, a “Business Combination”);
expressly excluding, however, any such Business Combination pursuant to which all of the following conditions are met: (A) all or substantially all of the Person(s) who are the beneficial owners of the Outstanding Common Stock and
Outstanding Voting Securities, respectively, immediately prior to such Business Combination will beneficially own, directly or indirectly, more than 50% of, respectively, the outstanding shares of common stock, and the combined voting power of the
outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity which as a result of such transaction owns
the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the Outstanding
Common Stock and Outstanding Voting Securities, as the case may be, (B) no Person (other than the Company, any employee benefit plan (or related trust) of the Company or such entity resulting from such Business Combination) will beneficially
own, directly or indirectly, 50% or more of, respectively, the outstanding shares of common stock of the entity resulting from such Business Combination or the combined voting power of the outstanding voting securities of such entity entitled to
vote generally in the election of directors except to the extent that such ownership existed prior to the Business Combination, and (C) individuals who were members of the Incumbent Board will constitute at least a majority of the members of
the board of directors of the entity resulting from such Business Combination; 
 (iv) the approval by the shareholders of
the Company of a complete liquidation or dissolution of the Company; 
 (v) the Company Group (or any of them) shall sell or
dispose of, in a single transaction or series of related transactions, business operations that generated two-thirds of the consolidated revenues of the Company Group (determined on the basis of the Company’s four most recently completed fiscal
quarters for which reports have been filed under the Exchange Act) and such disposal shall not be exempted pursuant to clause (iii) of this definition of Change of Control; 

(vi) the Company files a report or proxy statement with the Securities and Exchange Commission pursuant to the Exchange Act
disclosing in response to Form 8-K or Schedule 14A (or any successor schedule, form or report or item therein) that a change of control of the Company has or may have occurred or will or may occur in the future pursuant to any then-existing
agreement or transaction; notwithstanding the foregoing, unless determined in a specific case by a majority vote of the Board, a “Change of Control” shall not be deemed to have occurred solely because: (A) an entity in which
the Company directly or indirectly 

  
 25 

 
beneficially owns 50% or more of the voting securities, or any Company-sponsored employee stock ownership plan, or any other employee plan of the Company, either files or becomes obligated to
file a report or a proxy statement under or in response to Schedule 13D, Schedule 14D-1, Form 8-K or Schedule 14A (or any successor schedule, form or report or item therein) under the Exchange Act, disclosing beneficial ownership by form or report
or item therein, disclosing beneficial ownership by it of shares of stock of the Company, or because the Company reports that a change of control of the Company has or may have occurred or will or may occur in the future by reason of such beneficial
ownership or (B) any Company-sponsored employee stock ownership plan, or any other employee plan of the Company, either files or becomes obligated to file a report or a proxy statement under or in
response to Schedule 13D, Schedule 14D-1, Form 8-K or Schedule 14A (or any successor schedule, form or report or item therein) under the Exchange Act, disclosing beneficial ownership by form or report or item therein, disclosing beneficial ownership
by it of shares of stock of the Company, or because the Company reports that a change of control of the Company has or may have occurred or will or may occur in the future by reason of such beneficial ownership; or 

(vii) any other transaction or series of related transactions occur that have substantially the effect of the transactions
specified in any of the preceding clauses in this definition. 
 Notwithstanding the above definition of Change of Control, the Board, in its sole
discretion, may determine that a Change of Control has occurred for purposes of this Agreement, even if the events giving rise to such Change of Control are not expressly described in the above definition. 

“Change of Control Date” shall mean the date on which a Change of Control occurs. 

“Change of Control Period” shall mean the 24 month period commencing on the Change of Control Date; provided,
however, if the Company terminates the Executive’s employment with the Company prior to the Change of Control Date but on or after a Potential Change of Control Date, and it is reasonably demonstrated that the Executive’s
(i) employment was terminated at the request of an unaffiliated third party who has taken steps reasonably calculated to effect a Change of Control or (ii) termination of employment otherwise arose in connection with or in anticipation of
the Change of Control, then the “Change of Control Period” shall mean the 24 month period beginning on the date immediately prior to the date of the Executive’s termination of employment with the Company. 

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

  
 26 

 “Company Group” shall mean the Company, together with its direct and
indirect subsidiaries. 
 “Competing Business” means any business or activity that (i) competes with any member
of the Company Group for which the Executive performed services or the Executive was involved in for purposes of making strategic or other material business decisions and involves (ii) (A) the same or substantially similar types of
products or services (individually or collectively) manufactured, marketed or sold by any member of the Company Group during Term or (B) products or services so similar in nature to that of any member of the Company Group during Term (or that
any member of the Company Group will soon thereafter offer) that they would be reasonably likely to displace substantial business opportunities or customers of the Company Group. 

“Confidential Information” shall include Trade Secrets and includes information acquired by the Executive in the
course and scope of his activities under this Agreement, including information acquired from third parties, that (i) is not generally known or disseminated outside the Company Group (such as non-public information), (ii) is designated or
marked by any member of the Company Group as “confidential” or reasonably should be considered confidential or proprietary, or (iii) any member of the Company Group indicates through its policies, procedures, or other instructions
should not be disclosed to anyone outside the Company Group. Without limiting the foregoing definitions, some examples of Confidential Information under this Agreement include (a) matters of a technical nature, such as scientific, trade or
engineering secrets, “know-how”, formulae, secret processes, inventions, and research and development plans or projects regarding existing and prospective customers and products or services, (b) information about costs, profits,
markets, sales, customer lists, customer needs, customer preferences and customer purchasing histories, supplier lists, internal financial data, personnel evaluations, non-public information about medical devices or products of any member of the
Company Group (including future plans about them), information and material provided by third parties in confidence and/or with nondisclosure restrictions, computer access passwords, and internal market studies or surveys and (c) and any other
information or matters of a similar nature. 
 “Disability” as used in this Agreement shall have the meaning given
that term by any disability insurance the Company carries at the time of termination that would apply to the Executive. Otherwise, the term “Disability” shall mean the inability of the Executive to perform his duties and
responsibilities under this Agreement as a result of a physical or mental illness, disease or personal injury he has incurred. Any dispute as to whether or not the Executive has a “Disability” for purposes of this Agreement shall be
resolved by a physician reasonably satisfactory to the Board and the Executive (or his legal representative, if applicable). If the Board and the Executive (or his legal representative, if applicable) are unable to agree on a physician, then each
shall select one physician and those two physicians shall pick a third physician and the determination of such third physician shall be binding on the parties. 

  
 27 

 “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended. 
 “Good Reason” shall mean the occurrence of any of the following without the written consent of the
Executive: (1) the assignment to the Executive of any duties materially inconsistent in any respect with the Executive’s position (including status, offices, titles and reporting requirements), authority, duties or responsibilities as
contemplated by Section 1 of this Agreement, or any other action by the Company which results in a material diminution in such position, authority, duties or responsibilities, excluding for this purpose an isolated, insubstantial and
inadvertent action not taken in bad faith and which is remedied by the Company promptly after receipt of notice thereof given by the Executive; (2) the Company’s material reduction of the Executive’s Base Salary or bonus opportunity,
each as in effect on the date hereof or as the same may be increased from time to time; (3) the Company’s failure to obtain a satisfactory agreement from any successor entity to assume and agree to perform this Agreement; or (4) any
material breach of this Agreement or any other material agreement with the Executive by the Company or any successor entity. 

“Person” shall include individuals or entities such as corporations, partnerships, companies, firms, business
organizations or enterprises, and governmental or quasi-governmental bodies. 
 “Potential Change of Control” shall
mean the earliest to occur of: (i) the date on which the Company executes an agreement or letter of intent, the consummation of the transactions described in which would result in the occurrence of a Change of Control or (ii) the date on
which the Board approves a transaction or series of transactions, the consummation of which would result in a Change of Control, and ending when, in the opinion of the Board, the Company or the respective third party has abandoned or terminated any
Potential Change of Control. 
 “Potential Change of Control Date” shall mean the date on which a Potential Change
of Control occurs; provided, however, such date shall become null and void when, in the opinion of the Board, the Company or the respective third party has abandoned or terminated any Potential Change of Control. 

“Prohibited Area” means North America, South America and the European Union, which Prohibited Area the parties have
agreed to as a result of the fact that those are the geographic areas in which the members of the Company Group conduct a preponderance of their business and in which the Executive provides substantive services to the benefit of the Company Group.

 “Section 409A” shall mean Section 409A of the Code and regulations promulgated thereunder (and any similar
or successor federal or state statute or regulations). 

  
 28 

 “Trade Secrets” are information of special value, not generally known to
the public that any member of the Company Group has taken steps to maintain as secret from Persons other than those selected by any member of the Company Group. 

  
 29 

 EXHIBIT B 

Release 
 In exchange for
the consideration set forth in the Amended and Restated Employment Agreement, entered into and effective as of November 20, 2014, by and among Orthofix International N.V. (the “Company”) and myself (the “Employment
Agreement”), the respective terms of which are incorporated herein by reference, I, Davide Bianchi, am entering into this Release (this “Release”) for good and valuable consideration as required by the Employment Agreement,
and agree as follows: 
 1. GENERAL RELEASE. 

(a) On behalf of myself, my heirs, executors, successors and assigns, I and unconditionally release, waive and forever discharge the Company,
its members, divisions, subsidiaries, affiliates and related companies, including the Company Group (as defined below), or any member of the Company Group, and their present and former agents, employees, officers, directors, attorneys, stockholders,
plan fiduciaries, successors and assigns (collectively, the “Releasees”), from any and all claims, demands, actions, causes of action, costs, fees and all liability whatsoever, whether known or unknown, fixed or contingent,
suspected or unsuspected (collectively, “Claims”), which I had, have, or may have against Releasees relating to or arising out of my employment by or separation from the Company and its direct and indirect subsidiaries and parents,
including, without limitation, Orthofix International N.V. (collectively, the “Company Group”), up to and including the date of execution of this Release, other than my right to receive the severance payments and other benefits and
consideration described in the Employment Agreement. This Release includes, without limitation: (i) claims at law or equity or sounding in contract (express or implied) or tort; (ii) claims arising under any federal, state or local laws of
any jurisdiction that prohibit age, sex, race, national origin, color, disability, religion, veteran or military status, sexual orientation or any other form of discrimination, harassment or retaliation (including if applicable, without limitation,
the Civil Rights Act of 1866, the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, the Americans with Disabilities Act, Title VII of the 1964 Civil Rights Act, the Civil Rights Act of 1991, the Rehabilitation Act, the
Family and Medical Leave Act, the Sarbanes-Oxley Act, the Employee Polygraph Protection Act, the Uniformed Services Employment and Reemployment Rights Act of 1994, the Unruh Civil Rights Act, or any other federal, state or local laws, regulations
and ordinances governing discrimination, harassment or retaliation in employment; and the right to bring demands, complaints, causes of action, and claims under any other federal, state, local or common law, statute, regulation or decision);
(iii) claims arising under the Employee Retirement Income Security Act; or (iv) any other statutory or common law claims related to my employment with the Company or my separation from the Company. I further covenant not to sue any of the
Releasees with respect to any matters released hereby. 

  
 30 

 (b) This release does not include a release or waiver of any rights or claims I have, or might
subsequently have in my capacity as a stockholder of Orthofix International N.V. In addition, this Release shall not release the Company from its continuing obligation to honor the terms of the Employment Agreement. However, this Release shall
remain in full force and effect regardless of any claim by me that the Company failed to honor the terms of the Employment Agreement. In the event of any such dispute, my sole remedy against the Company shall be to enforce the terms of the
Employment Agreement. I am also not waiving, and nothing in this Release is intended to waive, any right to coverage under any directors and officers insurance coverage, if any, provided by the Company, the Company Group, or any member of the
Company Group, or any right to indemnification or expense advancement under any indemnification agreement, or any applicable Company Group articles of incorporation, bylaws or similar organizational document, if any, in each case, to which I might
be entitled. I am also not waiving, and nothing in this Release is intended to waive any claims I may have for unemployment insurance or workers’ compensation benefits, state disability compensation, claims for any vested benefits under any
Company-sponsored benefit plan, or any claims that, as a matter of law, may not be released by private agreement. I am also not waiving, and nothing in this Release is intended to waive, any claims relating to the validity or enforceability of this
Release; or, if applicable, any non-waivable right to file a charge with the United States Equal Employment Opportunity Commission (the “EEOC”) or the National Labor Relations Board (“NLRB”); provided, however, that
I shall not be entitled to recover any monetary damages or to non-monetary relief if the EEOC or NLRB were to pursue any claims relating to my employment with the Company. 

EXCEPT AS OUTLINED ABOVE, THIS MEANS THAT, BY SIGNING THIS RELEASE, I WILL WAIVE ANY RIGHT I MAY HAVE HAD TO PURSUE OR BRING A LAWSUIT OR MAKE ANY LEGAL CLAIM
AGAINST THE COMPANY OR THE RELEASEES THAT IN ANY WAY ARISES FROM OR RELATES TO MY EMPLOYMENT OR THE TERMINATION OF THAT EMPLOYMENT, UP TO AND INCLUDING THE DATE OF THE EXECUTION OF THIS RELEASE. 

(c) I acknowledge that different or additional facts may be discovered in addition to what I now know or believe to be true with respect to the
matters herein released, and I agree that this Release shall be and remain in effect in all respects as a complete and final release of the matters released, notwithstanding any such different or additional facts. I represent and warrant that I have
not previously filed or joined in any claims against the Company or any of the Releasees, that I have not given or sold any portion of any claims released herein to anyone else, and that I will indemnify and hold harmless the Releasees from all
liabilities, claims, demands, costs, expenses and/or attorneys’ fees incurred as a result of any such assignment or transfer. 

  
 31 

 (d) I acknowledge that I have been given an opportunity of twenty-one (21) to consider this
Release, but I may voluntarily waive that period by signing it earlier, and I acknowledge that I am being advised herein to consult with legal counsel of my own choosing prior to executing this Release. I understand that for a period ending at the
end of the seventh calendar day following my execution of this Release (“Revocation Period”), I shall have the right to revoke this Release by delivering a written notice of revocation to Jeffrey M. Schumm, Orthofix International
N.V., Chief Administrative Officer, General Counsel and Corporate Secretary, 3451 Plano Pkwy, Lewisville, TX 75056 no later than the end of the seventh calendar day after I sign this Release. I understand and agree that this Release will not be
effective and enforceable until after the Revocation Period expires without revocation, and if I elect to exercise this revocation right, this Release shall be voided in its entirety, and the Company shall be relieved of all obligations under this
Release and all obligations under the Employment Agreement as provided therein. This Release shall be effective on the eighth calendar day after it is executed by me (“Effective Date”) provided it has not been previously revoked as
provided herein. 
 2. I agree not to disclose, publish or use any confidential information of the Company Group, except as the Company
directs or authorizes unless required by law to do so. I also agree that I will take all reasonable measures to protect the secrecy of and avoid disclosure and unauthorized use of confidential information of the Company Group, and I will immediately
notify the Company in the event of any unauthorized use or disclosure of the Company Group’s confidential information of which I become aware. I agree that the obligations set forth in this paragraph do not supersede, but are in addition to,
any previous confidentiality obligations agreed to by me and any member of the Company Group, including those under the Agreement. The confidentiality provisions set forth in this Release are contractual and their terms are material to this Release.
In any proceeding brought to enforce or seek damages for the alleged breach of the confidentiality provisions of this Release, the party successfully prosecuting or defending such action shall be entitled to recover from the opposing party its
reasonable expenses, including attorneys’ fees. 
 3. I agree to hold harmless the Releasees, at my sole cost and expense, from and
against any claims arising from my breach of this Release (including breaches of my post separation obligations under the Agreement). 
 4. I
agree that I have not made and shall not make, publicly or privately, any critical or negative comments to the media or any significant critical or negative comments to any other person (including future or prospective employees) regarding any of
the Releasees. 
 5. I understand it is my choice whether or not to enter into this Release and that my decision to do so is voluntary and is
made knowingly. 
 6. I represent and acknowledge that in executing this Release, I do not rely, and have not relied, on any communications,
statements, inducements or representations, oral or written, by any of the Releasees, except as expressly contained in this Release. 

  
 32 

 7. I also represent and warrant that, on or before my last date of employment, I will have
delivered to the Company (a) all documents and materials containing confidential information (including without limitation any “soft” copies or computerized or electronic versions thereof) or otherwise containing information relating
to the business and affairs of any member of the Company Group (whether or not confidential), and (b) all other documents, materials and other property belonging to any member of the Company Group that are or were in my possession or under
my control. 
 8. The Company and I agree that this Release shall be binding on us and our heirs, administrators, representatives, executors,
successors and assigns, and shall inure to the benefit of our heirs, administrators, representatives, executors, successors and assigns. 

9. This Release shall be interpreted under and governed by the laws of Switzerland. The Company and I agree that the language of this Release
shall in all cases be construed as a whole, according to its fair meaning, and not strictly for or against either party. 
 10 The Company
and I agree that should that any provision of this Release be determined to be illegal or invalid, the validity of the remaining provisions will not be affected and any illegal or invalid provision will be deemed not to be a part of this Release.

 11. The Company and I agree that this Release may be executed in any number of counterparts, each of which shall be deemed an original,
but all of which together shall be deemed one and the same instrument. 
 (Remainder of this page intentionally left blank) 

  
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 Please read carefully as this document includes a General Release of claims. 

As evidenced by my signature below, I certify that I have read the above Release and agree to its terms. 

 

	
	 
	Davide Bianchi
	
	 Date:
                                         
                                   

  

			
	Accepted and Acknowledged:
	
	 ORTHOFIX INTERNATIONAL N.V.

		
	 By:
	 	  

		
	Title:	 	  

		
	Date:	 	  

  
 34 

 EXHIBIT C 

Existing Employment Agreement 

[Attached] 

  
 35 

  
 

 
 EMPLOYMENT CONTRACT 

Between 
 Orthofix AG 

c/o ALLconsultServices 
 Bundesstrasse 3 

CH-6304 Zug 
 (referred to in the following as
“Employer” or “Company”) 
 and 
 Davide
Bianchi 
 born on 14 April 1965 
 Chemin du Mont Blanc
4 
 1272 Genolier, Switzerland 
 (referred to in the following
as “Employee”) 

  
 Page 1 of 19 

			
	

	  	Employment Contract

  

 § 1 Start, Place of Work and Relocation 

The Employee will join effective 22. July 2013 (the “Effective Date”) as President of International Extremity Fixation and will report to the
Chief Executive Officer of Orthofix International N.V. 
 His office will be in the Verona subsidiary of Orthofix (i.e. Orthofix Srl). At the discretion of
the Employer, the employee’s place of work may be changed to other subsidiaries of the company, also at a different location inside Europe. The Employee may be asked but will not be obliged to relocate his place of living. 

It is also at the Employer’s discretion to move the Employee to a different function which corresponds with his skills and knowledge, or to change the
scope of the position, or to change the reporting line. This, however, cannot lead to a decrease in remuneration. 
 § 2 Work Hours 

Regular work hours per week are 40 hours. 
 The duration of the
daily work as well as start and finish time is at the discretion of the Employer. 
 The Employee agrees, in accordance with business requirements as well
as legal limits, to work overtime as well as to work on Sundays and bank holidays. Upon request of the overtime, the Employer has to consider the business needs as well as the rights of the Employee. Overtime is covered inside the remuneration
package. 
 § 3 Term of Contract and Termination 

Notice of six (6) months to terminate the contract of employment can be given by either party to take effect as of the end of a calendar month. 

The Employer has the right to release the Employee from work in the case of a termination, by either party, until the end of the notice period, continuing any
contractual payments. 
 The employment contract ends without the need for notice, no later than the end of the month in which the employee reaches the
legal retirement age (currently age 65). It also ends with the day on which the worker receives an early retirement pension or a full pension for disability. 

§ 3a Termination without Cause; Termination for Good Reason by the Employee. 

A one-time lump sum severance payment in an amount equal to 100% of the gross annual base salary and the average of the last three years bonus payout plus, for
a termination by the Employee for Good Reason (please refer to Exhibit B for definitions) or a termination by the Company without Cause only, CHF 11.500,— to be used by the Employee for outplacement services. The lump sum severance payment
shall be paid on the 60th day following the Employee’s termination of employment, provided that prior to such time the Executive has signed the release described in Exhibit A and the applicable revocation period for such release has expired,
subject, in the case of termination other than as a result of the Executive’s death. 

  
 Page 2 of 19 

			
	

	  	Employment Contract

  

 A termination without cause and a termination for good reason by the employee has to be given with 30 days
notice. 
 § 3b Termination for Cause. 
 If at any
time during the Term the Employee’s employment with the Company is terminated by the Employer for Cause (refer to Appendix for definition), the Employee shall be entitled to the following: 

 

	 	a)	any unpaid base salary and accrued unpaid vacation then owing through the date of termination, which amounts shall be paid to the Employee within 30 days of the date of termination. 

 

	 	b)	whatever rights, if any, that are available to the Employee upon such a termination pursuant to the Plans or any award documents related to any stock-based compensation such as stock options, stock appreciation rights
or restricted stock grants. This Agreement does not grant any greater rights with respect to such items than provided for in the Plans or the award documents in the event of any termination for Cause or a Voluntary Termination. 

For a termination for cause there is no notice period, it comes into effect immediately. 

§ 3c Termination following Change of Control 
 The
Employee shall have no specific right to terminate this Agreement or right to any severance payments or other benefits solely as a result of a Change of Control or Potential Change of Control. However, if during a Change of Control Period during the
Term, (a) the Employee terminates his employment with the Company for Good Reason, or (b) the Company terminates the Employee’s employment without Cause, a lump sum severance payment in the amount of 150% of the gross annual
base salary shall be paid to the Employee. No other rights result from termination during a Change of Control Period; provided, however, that nothing in this Section is intended to limit or impair the rights of the Employee under the Plans or any
documents evidencing any stock-based compensation awards in the event of a Change of Control if such Plans or award documents grant greater rights than are set forth herein. 

§ 4 Remuneration. 
 The gross annual base salary of
the Employee amounts to CHF 330.000.— (three hundred and thirty thousand Swiss Francs); this equals a monthly base salary of CHF 27.500.— (twenty seven thousand five hundred Swiss Francs). The monthly base salary is payable in arrears at
the end of the calendar month. 
 The premium contribution to the corporate pension scheme of the Employer is compliant with the requirement of the Swiss
Occupational Pension Legislation BVG (Berufsvorsorgegesetz). The annual premium depends on the amount of the salary and the age of the Employee. At the present time, it is about CHF 56’400. Two-thirds of the Premium is paid by the Employer and
one third by the Employee. The Employee’s contribution is deducted from the salary in monthly installments of about CHF 1.600,—. In Addition, the Employee will receive further a voluntary contributions to the 3rd column in the amount of CHF 6.739,— per annum. 

  
 Page 3 of 19 

			
	

	  	Employment Contract

  

 § 4a Variable Compensation 

With respect to each fiscal year of the Company during the Term, the Employee shall be eligible to receive annual bonus compensation under the Parent’s
Employee Annual Incentive Plan or any successor plan (the “Bonus Plan”) based on the achievement of goals established by the Board from time to time (the “Goals”). During the Term, the Employee will have a target bonus
opportunity under the Bonus Plan of at least 60% of his then-applicable Base Salary and an opportunity to earn a maximum annual bonus of not less than 90% of his then-applicable Base Salary; provided, however, the Employee’s bonus under the
Annual Incentive Plan with respect to work performed during the 2013 calendar year shall be pro-rated based on the number of days employed during the 2013 calendar year. The amount of any actual payment will depend upon the achievement (or not) of
the Goals established by the Board. Except as otherwise provided in this Agreement, to receive a bonus under the Bonus Plan, the Employee must be employed on the date of payment of such bonus. Amounts payable under the Bonus Plan shall be determined
by the Board and shall be paid following such fiscal year and no later than two and one-half months after the end of such fiscal year. In addition, the Employee shall be eligible to receive such additional bonus or incentive compensation as the
Board may establish from time to time in its sole discretion. Any bonus or incentive compensation under this Section under the Bonus Plan or otherwise is referred to herein as “Incentive Compensation.” Stock-based compensation shall not be
considered Incentive Compensation under the terms of this Agreement unless the parties expressly agree otherwise in writing. 
 § 4b Stock
Compensation 
 The Employee shall be eligible to receive stock-based compensation, whether stock options, stock appreciation rights, restricted stock
grants or otherwise, under the Parent’s 2012 Long Term Incentive Plan or other stock-based compensation plans as Parent may establish from time to time (collectively, the “Plans”). The Employee shall be considered for such grants no
less often than annually as part of the Board’s annual compensation review, but any such grants shall be at the sole discretion of the Board. Notwithstanding the foregoing, with respect to the 2013 calendar year, the Employee shall receive on
the Effective Date (i) a grant of stock options to acquire up to 10,000 shares of common stock of Parent (vesting annually 25% per year over a 4-year period), and (ii) a grant of 2,500 restricted shares of common stock of Parent
(vesting annually 25% per year over a 4-year period). 
 § 4c Company Car / Car Allowance 

The Employee will receive a Company car allowance equal to CHF 24.000.— gross per annum, i.e. CHF 2.000.— gross per month. 

The Orthofix Car Policy – Europe is applicable (see attachment). 

§ 4d Social Security 
 The legal regulations of
Switzerland apply (AHV, BVG, UVG, KTG). 

  
 Page 4 of 19 

			
	

	  	Employment Contract

  

 § 4e Insurances 

The Company shall take out accident insurance for the employee according to Swiss law and to the terms usually offered by the company. 

§ 5 Travel Expenses 
 Travel expenses, if appropriate
and occasioned by and in the interest of the Employer, will be reimbursed against proper receipts and in accordance with tax regulations as well as the Company Travel Policy. 

§ 6 Leave 
 The Employee is entitled to 25 work days
of leave for a full calendar year. Saturdays and Sundays are not considered work days in this regulation. 
 If the employment starts or ends during a
calendar year, the leave entitlement will be pro-rated, however not below the legal minimum. For the year 2013 the employee is entitled to 25 business days. 

Further details about the granting of leave are regulated in the Company Policy. 

§ 7 Inability to Work 
 The Employee is required to
inform the Employer via the direct line manager as well as HR immediately at the start of the inability to work, under specification of the reasons. If the inability is previously unknown, the Employer needs to be informed as soon as possible. 

If the inability to work is caused by sickness and the duration exceeds 2 days, the Employee is required to produce a doctor’s note before the end of the
third workday after the beginning of the inability to work, confirming the sickness as well as the expected duration. 
 § 8 Spare-time Work

 The employee agrees to dedicate his regular work hours fully to the employer, spare time work shall not conflict with the business interest of the
employer. 
 § 9a Non-Disclosure 
 The Employee is
obligated to keep business and company secrets as well as any information of confidential nature, which are verbally or in writing declared as such or if apparent as such, confidential and not disclose to any third party without prior consent of the
Company. 
 Business and Company secrets in this sense are especially non-public information about products, salaries, distribution channels, suppliers,
calculations, discounts, business deals, or other material information about the Company. In doubt the Employee is obligated to inquire with the Management if a certain fact is to be handled confidentially. 

  
 Page 5 of 19 

			
	

	  	Employment Contract

  

 This obligation is valid also after the end of the employment. Should this non-disclosure obligation hinder
the Employee in an inappropriate way after the end of the employment, the Employee is entitled to be relieved of this duty. 
 The Employee is aware of and
agrees to, that at the end of the employment, all rights of any kind to customers acquired by the Employee do not exist, and that no severance or compensation will be paid for existing or initiated customer relationships. 

For every case of breach of this non-disclosure agreement, the Employee is obligated to pay a contractual penalty in the amount of an average monthly base
salary (average of the last 12 months) to the Employer. This however does not eliminate the enforcement of further claims for damages. 
 § 9b
Non-Competition. 
 The non-competition agreement can be found in exhibit C in the attachment to this contract. 

§ 9c Obligation not to entice away Workforce in the Aftermath of the Employment Relationship 

The Employee agrees that for a period of one year after the termination of the Employment Contract the employee shall neither directly nor indirectly entice
away employees of the Company, its subsidiaries or parent company or cause them in any other way to leave the Company, its subsidiaries or parent company, if for that purpose the employee induces them to break the contract or uses information which
is subject to the post-contractual duty of secrecy. 
 The obligation not to entice away workforce also applies to the benefit of the Company’s
affiliated companies the Company dealt with either directly or indirectly. 
 Every time the Employee breaches the obligations described under in clause 9c,
the employee shall pay a contractual penalty in the amount of one monthly gross salary. The amount of the relevant monthly gross salary depends on the monthly gross salary including variable salary the Employee last received under this Employment
Contract. 
 The Company’s right to further damages shall not be affected. 

§10 Term of Preclusion 
 Any claim stemming from the
employment or any that are related to the employment, are required to be asserted inside the term of preclusion of 3 months for the respective claim from the other contractual party in writing, or they expire. 

If the opposing party declines the claim in writing or does not assert itself after one months of the initial assertion of the claim, then it expires if it is
not asserted after three months of the decline in front of a court. 
 These terms of preclusion do not apply to claims of damages of life, body or health,
as well as for damages resulting from deliberate or gross misconduct of either party. 

  
 Page 6 of 19 

			
	

	  	Employment Contract

  

 § 11 Application Information 

The Employee assures that all information provided during the hiring process is the truth and agrees to inform the Employer of any changes in this information
without delay. 
 § 12 Data Security 
 The employee
is prohibited to acquire, process or publish personal data, make it accessible or use in any other way than the lawful task fulfillment requires. As data processing in course of work may include the entry, recording, storing, over-transmit, modify,
delete, use, collection and freezing of personal data, the employee is hereby informed of the obligation to maintain confidentiality of personal data. The obligation of the employee to data secrecy continues even after the termination of employment.

 The employee expressly agrees that his personal data is stored, automated and processed. 

§ 13 Final Provisions 
 For all non-regulated
contractual areas the corresponding Swiss Code of Obligations applies. 
 Amendments and additions to this contract must be made in writing. This shall also
apply to the amendment of the clause requiring written form. 
 Verbal side-agreements do not exist. Further agreements than documented in this contract are
not agreed to. 
 Place of jurisdiction is Zug/Switzerland. 

If any provision of this agreement should be unlawful, void or unenforceable or should the contract contain a gap, the validity of the contract shall not be
affected. 
  

					
	 Nov. 26, 2013
	 		 	 Nov. 18, 2013

	Date	 		 	Date
			
	ORTHOFIX AG	 		 	
			
	 /s/ Armin L. Landtwing
	 		 	 /s/ Davide Bianchi

	 Armin L. Landtwing

Verwaltungsrat
	 		 	Davide Bianchi
			
	 /s/ Brad Mason
	 		 	
	 Brad Mason
 CEO Orthofix International
	 		 	

  
 Page 7 of 19 

 

 
 EXHIBIT A 

RELEASE 
  

 In exchange for the consideration set forth in the Employment Agreement, entered into and effective as of
[            ], 2013, by and among Orthofix AG. (the “Company”) and myself (the “Employment Agreement”), the respective terms of which are incorporated herein by
reference, I, Davide Bianchi, am entering into this Release (this “Release”) for good and valuable consideration as required by the Employment Agreement, and agree as follows: 

 

	1.	GENERAL RELEASE. 

 (a) On behalf of myself, my heirs, executors, successors and assigns, I and unconditionally
release, waive and forever discharge the Company, its members, divisions, subsidiaries, affiliates and related companies, including the Company Group (as defined below), or any member of the Company Group, and their present and former agents,
employees, officers, directors, attorneys, stockholders, plan fiduciaries, successors and assigns (collectively, the “Releasees”), from any and all claims, demands, actions, causes of action, costs, fees and all liability whatsoever,
whether known or unknown, fixed or contingent, suspected or unsuspected (collectively, “Claims”), which I had, have, or may have against Releasees relating to or arising out of my employment by or separation from the Company and its direct
and indirect subsidiaries and parents, including, without limitation, Orthofix International N.V. (collectively, the “Company Group”), up to and including the date of execution of this Release, other than my right to receive the severance
payments and other benefits and consideration described in the Employment Agreement. This Release includes, without limitation: (i) claims at law or equity or sounding in contract (express or implied) or tort; (ii) claims arising under any
federal, state or local laws of any jurisdiction that prohibit age, sex, race, national origin, color, disability, religion, veteran or military status, sexual orientation or any other form of discrimination, harassment or retaliation (including,
without limitation, the Civil Rights Act of 1866, the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, the Americans with Disabilities Act, Title VII of the 1964 Civil Rights Act, the Civil Rights Act of 1991, the
Rehabilitation Act, the Family and Medical Leave Act, the Sarbanes-Oxley Act, the Employee Polygraph Protection Act, the Uniformed Services Employment and Reemployment Rights Act of 1994, the Unruh Civil Rights Act, or any other federal, state or
local laws, regulations and ordinances governing discrimination, harassment or retaliation in employment; and the right to bring demands, complaints, causes of action, and claims under any other federal, state, local or common law, statute,
regulation or decision); (iii) claims arising under the Employee Retirement Income Security Act; or (iv) any other statutory or common law claims related to my employment with the Company or my separation from the Company. I further
covenant not to sue any of the Releasees with respect to any matters released hereby. 
 (b) This release does not include a release or waiver of any rights
or claims I have, or might subsequently have in my capacity as a stockholder of Orthofix International N.V. In addition, this Release shall not release the Company from its continuing obligation to honor the terms of the Employment Agreement.
However, this Release shall remain in full force and effect regardless of any claim by me that the Company failed to honor the terms of the Employment Agreement. In the event of any such dispute, my sole remedy against the Company shall be to
enforce the terms of the Employment Agreement. I am also not waiving, and nothing in this Release is intended to waive, any right to coverage under any directors and officers insurance coverage, if any, provided by the Company, the Company Group, or
any member of the Company Group, or any right to indemnification or expense advancement under any indemnification agreement, or any applicable Company Group articles of incorporation, bylaws or similar organizational document, if any, in each case,
to which I might be entitled. I am also not waiving, and nothing in this Release is intended to waive any claims I may have for unemployment insurance or workers’ compensation benefits, state disability compensation, claims for any vested
benefits under any Company-sponsored benefit plan, or any claims that, as a matter of law, may not be released by private agreement. I am also not waiving, and nothing in this Release is intended to waive, any claims relating to the validity or
enforceability of this Release; or any non-waivable right to file a charge with the United States Equal Employment Opportunity Commission (the 

  
 Page 8 of 19 

 

 
 EXHIBIT A 

RELEASE 
  

 “EEOC”) or the National Labor Relations Board (“NLRB”); provided, however, that I shall
not be entitled to recover any monetary damages or to non-monetary relief if the EEOC or NLRB were to pursue any claims relating to my employment with the Company. 

EXCEPT AS OUTLINED ABOVE, THIS MEANS THAT, BY SIGNING THIS RELEASE, I WILL WAIVE ANY RIGHT I MAY HAVE HAD TO PURSUE OR BRING A LAWSUIT OR MAKE ANY LEGAL CLAIM
AGAINST THE COMPANY OR THE RELEASEES THAT IN ANY WAY ARISES FROM OR RELATES TO MY EMPLOYMENT OR THE TERMINATION OF THAT EMPLOYMENT, UP TO AND INCLUDING THE DATE OF THE EXECUTION OF THIS RELEASE. 

(c) I acknowledge that different or additional facts may be discovered in addition to what I now know or believe to be true with respect to the matters herein
released, and I agree that this Release shall be and remain in effect in all respects as a complete and final release of the matters released, notwithstanding any such different or additional facts. I represent and warrant that I have not previously
filed or joined in any claims against the Company or any of the Releasees, that I have not given or sold any portion of any claims released herein to anyone else, and that I will indemnify and hold harmless the Releasees from all liabilities,
claims, demands, costs, expenses and/or attorneys’ fees incurred as a result of any such assignment or transfer. 
 (d) I acknowledge that I have been
given an opportunity of [twenty one (21) / forty five (45) ] to consider this Release, but I may voluntarily waive that period by signing it earlier, and I acknowledge that I am being advised herein to consult with legal counsel of my own
choosing prior to executing this Release. I understand that for a period ending at the end of the seventh calendar day following my execution of this Release (“Revocation Period”), I shall have the right to revoke this Release by
delivering a written notice of revocation to Jeffrey M. Schumm, Orthofix Inc. Senior Vice President, General Counsel and Corporate Secretary, 3451 Plano Pkwy, Lewisville, TX 75056 no later than the end of the seventh calendar day after I sign this
Release. I understand and agree that this Release will not be effective and enforceable until after the Revocation Period expires without revocation, and if I elect to exercise this revocation right, this Release shall be voided in its entirety, and
the Company shall be relieved of all obligations under this Release and all obligations under the Employment Agreement as provided therein. This Release shall be effective on the eighth calendar day after it is executed by me (“Effective
Date”) provided it has not been previously revoked as provided herein. 
 2. I agree not to disclose, publish or use any confidential information of the
Company Group, except as the Company directs or authorizes unless required by law to do so. I also agree that I will take all reasonable measures to protect the secrecy of and avoid disclosure and unauthorized use of confidential information of the
Company Group, and I will immediately notify the Company in the event of any unauthorized use or disclosure of the Company Group’s confidential information of which I become aware. I agree that the obligations set forth in this paragraph do not
supersede, but are in addition to, any previous confidentiality obligations agreed to by me and any member of the Company Group, including those under the Agreement. The confidentiality provisions set forth in this Release are contractual and their
terms are material to this Release. In any proceeding brought to enforce or seek damages for the alleged breach of the confidentiality provisions of this Release, the party successfully prosecuting or defending such action shall be entitled to
recover from the opposing party its reasonable expenses, including attorneys’ fees. 
 3. I agree to hold harmless the Releasees, at my sole cost and
expense, from and against any claims arising from my breach of this Release (including breaches of my post separation obligations under the Agreement). 
 4.
I agree that I have not made and shall not make, publicly or privately, any critical or negative comments to the media or any significant critical or negative comments to any other person (including future or prospective employees) regarding any of
the Releasees. 

  
 Page 9 of 19 

 

 
 EXHIBIT A 

RELEASE 
  

 5. I understand it is my choice whether or not to enter into this Release and that my decision to do so is
voluntary and is made knowingly. 
 6. I represent and acknowledge that in executing this Release, I do not rely, and have not relied, on any communications,
statements, inducements or representations, oral or written, by any of the Releasees, except as expressly contained in this Release. 
 7. I also represent
and warrant that, on or before my last date of employment, I will have delivered to the Company (a) all documents and materials containing confidential information (including without limitation any “soft” copies or computerized or
electronic versions thereof) or otherwise containing information relating to the business and affairs of any member of the Company Group (whether or not confidential), and (b) all other documents, materials and other property belonging to any
member of the Company Group that are or were in my possession or under my control. 
 8. The Company and I agree that this Release shall be binding on us and
our heirs, administrators, representatives, executors, successors and assigns, and shall inure to the benefit of our heirs, administrators, representatives, executors, successors and assigns. 

9. This Release shall be interpreted under and governed by the laws of the State of Texas. The Company and I agree that the language of this Release shall in
all cases be construed as a whole, according to its fair meaning, and not strictly for or against either party. 
 10 The Company and I agree that should
that any provision of this Release be determined to be illegal or invalid, the validity of the remaining provisions will not be affected and any illegal or invalid provision will be deemed not to be a part of this Release. 

11. The Company and I agree that this Release may be executed in any number of counterparts, each of which shall be deemed an original, but all of which
together shall be deemed one and the same instrument. 
 Please read carefully as this document includes a General Release of claims. 

As evidenced by my signature below, I certify that I have read the above Release and agree to its terms. 

Accepted and Acknowledged: 
  

					
	  
 Date
	 		 	  
 Date

			
	ORTHOFIX AG	 		 	
			
	  
 Armin L. Landtwing

Verwaltungsrat
	 		 	  
 Davide Bianchi

			
	  
 Brad Mason

CEO Orthofix International
	 		 	

  
 Page 10 of 19 

 

 
 EXHIBIT B 

DEFINITIONS 
  

 For purposes of this Agreement, the following capitalized terms have the meanings set forth below: 

“Board” shall mean the Board of Directors of Parent. Any obligation of the Board other than termination for Cause under this Agreement
may be delegated to an appropriate committee of the Board, including its compensation committee, and references to the Board herein shall be references to any such committee, as appropriate. 

“Cause” shall mean termination of the Employee’s employment because of the Employee’s: (i) involvement in fraud,
misappropriation or embezzlement related to the business or property of the Company; (ii) conviction for, or guilty plea to, or plea of nolo contendere to, a felony or crime of similar gravity in the jurisdiction in which such conviction or
guilty plea occurs; (iii) intentional wrongful disclosure of Confidential Information or other intentional wrongful violation of Article VI; (iv) willful and continued failure by the Employee to follow the reasonable instructions of the
Board or Chief Executive Officer; (v) willful commission by the Employee of acts that are dishonest and demonstrably and materially injurious to a member of the Parent Group, monetarily or otherwise; (vi) willful or material violation of,
or willful or material noncompliance with, any securities law, rule or regulation or stock exchange listing rule adversely affecting the Parent Group including without limitation (a) if the Employee has undertaken to provide any certification
or related back-up material required for the chief and principal executive and financial officers to provide a certification required under the Sarbanes-Oxley Act of 2002, including the rules and regulations promulgated thereunder (the
“Sarbanes-Oxley Act”), and he willfully or materially fails to take reasonable and appropriate steps to determine whether or not the certificate or related back-up material was accurate or otherwise in compliance with the requirements of
the Sarbanes-Oxley Act or (b) the Employee’s willful or material failure to establish and administer effective systems and controls applicable to his area of responsibility necessary for the Parent to timely and accurately file reports
pursuant to Section 13 or 15(d) of the Exchange Act. No act or omission shall be deemed willful or material for purposes of this definition if taken or omitted to be taken by Employee in a good faith belief that such act or omission to act was
in the best interests of the Parent Group or if done at the express direction of the Board. 
 “Change of Control” shall occur upon any of
the following events: 
 (i) the acquisition by any individual, entity or group of beneficial ownership, in any individual transaction or series of related
transactions, of 50% or more of either (A) the then outstanding shares of common stock of Parent (the “Outstanding Common Stock”) or (B) the combined voting power of the then outstanding voting securities of Parent
entitled to vote generally in the election of directors (the “Outstanding Voting Securities”); excluding, however, the following: (1) any acquisition directly from Parent, other than an acquisition by virtue of
the exercise of a conversion privilege unless the security being so converted was itself acquired directly from Parent; (2) any acquisition by Parent; (3) any acquisition by any employee benefit plan (or related trust) sponsored or
maintained by Parent or any entity controlled by Parent; or (4) any acquisition pursuant to a transaction which complies with clauses (A), (B) and (C) of subsection (iii) of this definition of Change of Control; 

(ii) a change in the composition of the Board such that the individuals who as of the Effective Date constitute the Board (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board; provided, however, for purposes of this paragraph, that any individual who becomes a member of the Board subsequent to the Effective Date, whose
appointment, election, or nomination for election by Parent’s shareholders was approved by a vote of at least a majority of those individuals who are members of the Board and who were also members of the Incumbent Board (or deemed to be such
pursuant to this proviso) shall be considered as though such individual were a member of the Incumbent Board; but 

  
 Page 11 of 19 

 

 
 EXHIBIT B 

DEFINITIONS 
  

 
provided further that any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule
14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board shall not be so considered as a member of the Incumbent Board; 

(iii) consummation of a reorganization, merger, consolidation or other business combination or the sale or other disposition of all or substantially all of the
assets of Parent (including assets that are shares held by Parent in its subsidiaries) (any such transaction, a “Business Combination”); expressly excluding, however, any such Business Combination pursuant to which all
of the following conditions are met: (A) all or substantially all of the Person(s) who are the beneficial owners of the Outstanding Common Stock and Outstanding Voting Securities, respectively, immediately prior to such Business Combination
will beneficially own, directly or indirectly, more than 50% of, respectively, the outstanding shares of common stock, and the combined voting power of the outstanding voting securities entitled to vote generally in the election of directors, as the
case may be, of the entity resulting from such Business Combination (including, without limitation, an entity which as a result of such transaction owns Parent or all or substantially all of Parent’s assets either directly or through one or
more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the Outstanding Common Stock and Outstanding Voting Securities, as the case may be, (B) no Person (other than
Parent, any employee benefit plan (or related trust) of Parent or such entity resulting from such Business Combination) will beneficially own, directly or indirectly, 50% or more of, respectively, the outstanding shares of common stock of the entity
resulting from such Business Combination or the combined voting power of the outstanding voting securities of such entity entitled to vote generally in the election of directors except to the extent that such ownership existed prior to the Business
Combination, and (C) individuals who were members of the Incumbent Board will constitute at least a majority of the members of the board of directors of the entity resulting from such Business Combination; 

(iv) the approval by the shareholders of Parent of a complete liquidation or dissolution of Parent; 

(v) the Parent Group (or any of them) shall sell or dispose of, in a single transaction or series of related transactions, business operations that generated
two-thirds of the consolidated revenues of the Parent Group (determined on the basis of Parent’s four most recently completed fiscal quarters for which reports have been filed under the Exchange Act) and such disposal shall not be exempted
pursuant to clause (iii) of this definition of Change of Control; 
 (vi) Parent files a report or proxy statement with the Securities and Exchange
Commission pursuant to the Exchange Act disclosing in response to Form 8-K or Schedule 14A (or any successor schedule, form or report or item therein) that a change of control of Parent has or may have occurred or will or may occur in the future
pursuant to any then-existing agreement or transaction; notwithstanding the foregoing, unless determined in a specific case by a majority vote of the Board, a “Change of Control” shall not be deemed to have occurred solely because:
(A) an entity in which Parent directly or indirectly beneficially owns 50% or more of the voting securities, or any Parent-sponsored employee stock ownership plan, or any other employee plan of Parent or the Company, either files or becomes
obligated to file a report or a proxy statement under or in response to Schedule 13D, Schedule 14D-1, Form 8-K or Schedule 14A (or any successor schedule, form or report or item therein) under the Exchange Act, disclosing beneficial ownership by
form or report or item therein, disclosing beneficial ownership by it of shares of stock of Parent, or because Parent reports that a change of control of Parent has or may have occurred or will or may occur in the future by reason of such beneficial
ownership or (B) any Parent-sponsored employee stock ownership plan, or any other employee plan of Parent or the Company, either files or becomes obligated to file a report or a proxy statement under or
in response to Schedule 13D, Schedule 14D-1, Form 8-K or Schedule 14A (or any 

  
 Page 12 of 19 

 

 
 EXHIBIT B 

DEFINITIONS 
  

 
successor schedule, form or report or item therein) under the Exchange Act, disclosing beneficial ownership by form or report or item therein, disclosing beneficial ownership by it of shares of
stock of Parent, or because Parent reports that a change of control of Parent has or may have occurred or will or may occur in the future by reason of such beneficial ownership; or 

(vii) any other transaction or series of related transactions occur that have substantially the effect of the transactions specified in any of the preceding
clauses in this definition. 
 Notwithstanding the above definition of Change of Control, the Board, in its sole discretion, may determine that a Change of
Control has occurred for purposes of this Agreement, even if the events giving rise to such Change of Control are not expressly described in the above definition. 

“Change of Control Date” shall mean the date on which a Change of Control occurs. 

“Change of Control Period” shall mean the 24 month period commencing on the Change of Control Date; provided, however, if the Company
terminates the Employee’s employment with the Company prior to the Change of Control Date but on or after a Potential Change of Control Date, and it is reasonably demonstrated that the Employee’s (i) employment was terminated at the
request of an unaffiliated third party who has taken steps reasonably calculated to effect a Change of Control or (ii) termination of employment otherwise arose in connection with or in anticipation of the Change of Control, then the
“Change of Control Period” shall mean the 24 month period beginning on the date immediately prior to the date of the Employee’s termination of employment with the Company. 

“Competing Business” means any business or activity that (i) competes with any member of the Parent Group for which the Employee
performed services or the Employee was involved in for purposes of making strategic or other material business decisions and involves (ii) (A) the same or substantially similar types of products or services (individually or collectively)
manufactured, marketed or sold by any member of the Parent Group during Term or (B) products or services so similar in nature to that of any member of the Parent Group during Term (or that any member of the Parent Group will soon thereafter
offer) that they would be reasonably likely to displace substantial business opportunities or customers of the Parent Group. 
 “Confidential
Information” shall include Trade Secrets and includes information acquired by the Employee in the course and scope of his activities under this Agreement, including information acquired from third parties, that (i) is not generally
known or disseminated outside the Parent Group (such as non-public information), (ii) is designated or marked by any member of the Parent Group as “confidential” or reasonably should be considered confidential or proprietary, or
(iii) any member of the Parent Group indicates through its policies, procedures, or other instructions should not be disclosed to anyone outside the Parent Group. Without limiting the foregoing definitions, some examples of Confidential
Information under this Agreement include (a) matters of a technical nature, such as scientific, trade or engineering secrets, “know-how”, formulae, secret processes, inventions, and research and development plans or projects regarding
existing and prospective customers and products or services, (b) information about costs, profits, markets, sales, customer lists, customer needs, customer preferences and customer purchasing histories, supplier lists, internal financial data,
personnel evaluations, non-public information about medical devices or products of any member of the Parent Group (including future plans about them), information and material provided by third parties in confidence and/or with nondisclosure
restrictions, computer access passwords, and internal market studies or surveys and (c) and any other information or matters of a similar nature. 

  
 Page 13 of 19 

 

 
 EXHIBIT B 

DEFINITIONS 
  

 “Exchange Act shall mean the Securities Exchange Act of 1934, or amended. 

“Good Reason” shall mean the occurrence of any of the following without the written consent of the Employee: (1) the
assignment to the Employee of any duties materially inconsistent in any respect with the Employee’s position (including status, offices, titles and reporting requirements), authority, duties or responsibilities as contemplated by this
Agreement, or any other action by the Company which results in a material diminution in such position, authority, duties or responsibilities, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and
which is remedied by the Company promptly after receipt of notice thereof given by the Employee; (2) the Company’s material reduction of the Employee’s Base Salary or bonus opportunity, each as in effect on the date hereof or as the
same may be increased from time to time; (3) the Company’s failure to obtain a satisfactory agreement from any successor entity to assume and agree to perform this Agreement; or (4) any material breach of this Agreement or any other
material agreement with the Employee by the Company or any successor entity. 
 “Parent” shall mean Orthofix International N.V., an entity
organized under the laws of Curacao. 
 “Parent Group” shall mean Parent, together with its subsidiaries including the Company. 

“Person” shall include individuals or entities such as corporations, partnerships, companies, firms, business organizations or enterprises,
and governmental or quasi-governmental bodies. 
 “Potential Change of Control” shall mean the earliest to occur of: (i) the date on
which Parent executes an agreement or letter of intent, the consummation of the transactions described in which would result in the occurrence of a Change of Control or (ii) the date on which the Board approves a transaction or series of
transactions, the consummation of which would result in a Change of Control, and ending when, in the opinion of the Board, the Parent (or the Company) or the respective third party has abandoned or terminated any Potential Change of Control. 

“Potential Change of Control Date” shall mean the date on which a Potential Change of Control occurs; provided, however, such date shall
become null and void when, in the opinion of the Board, the Parent (or the Company) or the respective third party has abandoned or terminated any Potential Change of Control. 

“Trade Secrets” are information of special value, not generally known to the public that any member of the Parent Group has taken steps to
maintain as secret from Persons other than those selected by any member of the Parent Group. 

  
 Page 14 of 19 

 

 
 EXHIBIT C 

NON-COMPETITION AGREEMENT 

 

 OPZIONE PER UN PATTO DI NON CONCORRENZA 

Tra 
 Orthofix AG 

c/o ALLconsultServices 
 Bundesstrasse 3 

CH-6304 Zug 
 E 

Il Mr. Davide Bianchi, residente in Ch. Du Mont Blanc 4, 1272 Genolier, Vaud- Svizzera (di seguito “Dirigente”) 

Di seguito denominate “le Parti” Premesso che 
  

	 	i)	La Società e il Gruppo cui essa appartiene (con il termine “Gruppo” si intende includere la Società, la sua controllante e tutte le società dalle stesse direttamente o indirettamente
controllate o partecipate) ricoprono una posizione leader a livello mondiale nel settore delle Tecnologie Medicali. In particolare il Gruppo si occupa di sviluppo, della produzione, e della vendita di prodotti nei seguenti segmenti del mercato:
tutti i prodotti alla gamma di « Extremity Fixation » 

  

	 	ii)	il Dirigente è stato assunto dalla Società dal giorno 22 July 2013 con la posizione di Presidente Internazionale della fissazione esterna (di seguito il “Rapporto di Lavoro”;

  

	 	iii)	nel corso del Rapporto di Lavoro il Dirigente verrà a conoscenza di informazioni riservate riguardanti la Società e il Gruppo, nonché i prodotti della Società e del Gruppo, che rivestono
primaria importanza per lo svolgimento dell’attività di impresa della Società; 

  

	 	iv)	la Società e il Gruppo intendono tutelare i loro interessi in relazione alle attività e agli incarichi che il Dirigente potrebbe svolgere in concorrenza con la Società successivamente alla
cessazione del Rapporto di Lavoro. 

 OPTION OF NON-COMPETITION AGREEMENT 

Between 
 Orthofix AG 

c/o ALLconsultServices 
 Bundesstrasse 3 

CH-6304 Zug 
 And 

Il Mr. Davide Bianchi, residente in Ch. Du Mont Blanc 4, 1272 Genolier, Vaud- Svizzera (below “Manager”) 

Hereinafter mentioned as “Parties” WHEREAS 
  

	 	i)	The Company and the Group to which it belongs, (Group intended to include the Company, its holding company, and all companies directly or indirectly controlled by the same or associated), cover a worldwide leading
position in the field of Medical Technologies. In particular, the Group is engaged in the development, production and sales of products in the following market sector: all products in the Product Range “Extremity Fixation”

  

	 	ii)	The Manager has been employed by the Company since 22 July 2013, for the position of President of International Extremity Fixation (hereinafter “The Employment Relationship”); 

 

	 	iii)	In the course of the Employment Relationship Manager will be aware of confidential information regarding the Company and the Group, as well as the products of the Company and the Group, which are of major importance for
the conduct of the business of the Company; 

  

	 	iv)	The Company and the Group wish to protect their interests in relation to the activities and the tasks that the Manager could carry out in competition with the Company subsequent to the termination of the Employment
Relationship . 

 

  
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 EXHIBIT C 

NON-COMPETITION AGREEMENT 

 

 
 Ciò premesso, le Parti convengono quanto segue: 

1) OPZIONE- EFFICACIA E CONDIZIONE SOSPENSIVA: 
 1.1. Il Dirigente
concede alla Società un’opzione per la conclusione di un patto di non concorrenza nei termini e alle condizioni specificati al successivo paragrafo 4 (qui di seguito l’Opzione). 

1.2. La Società accetta l’Opzione e si impegna ad esercitarla nei termini e alle condizioni specificati al successivo paragrafo 2. 

2) ESERCIZIO DELL’OPZIONE 
 2.1 La Società
potrà esercitare l’Opzione in ogni momento nel corso del Rapporto di Lavoro. 
 2.2. La volontà della Società di esercitare
l’Opzione e, di conseguenza, di concludere il patto di non concorrenza di cui al successivo paragrafo 4, dovrà essere comunicata ad Dirigente per iscritto. 

3) CORRISPETTIVO PER L’OPZIONE 
 A titolo
di corrispettivo per la concessione dell’Opzione la Società Le corrisponderà un importo lordo pari a Euro 5000,—, in tre tranche di uguale importo e unitamente alle competenze dei tre mesi successivi alla sottoscrizione della
presente Opzione. Resta inteso e convenuto che il predetto importo si intende già comprensivo di ogni incidenza su tutti gli istituti contrattuali e di legge, e che non sarà considerato retribuzione utile ai fini del calcolo del
Trattamento di Fine Rapporto e degli istituti ad esso collegati. 

 Accordingly the Parties agree as follows: 

1) OPTION- EFFECTIVENESS AND SUSPENSION CONDITION: 
 1.1. The
Manager, grants to the Company an option for the conclusion of a non-competition agreement, under the terms and conditions specified in the following paragraph 4 (hereinafter “the Option”); 

1.2. The Company accepts and agrees to exercise the option according to the terms and condition specified in paragraph 2. 

2) OPTION EXERCISE 
 2.1 The Company may exercise the option at
any time during the Employment Relationship; 
 2.2. The intention of the Company to exercise the Option and, therefore, to conclude the non-competition
agreement, referred to in paragraph 4, shall be notified to the manager in written form. 
 3) PAYMENT AGREEMENT 

For the grant of the Option, the Company will correspond a gross amount of € 5,000.00, in three installments each of the same amount and together with the
payment of three months’ remuneration after the signature of the present otion. It is agreed that said amount already includes any effect on any contractual and legal obligations, and that compensation will not be considered useful for the
calculating severance indemnities and institutions connected to it. 

 

  
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 EXHIBIT C 

NON-COMPETITION AGREEMENT 

 

 4) REGOLAMENTAZIONE DEL PATTO DI NON CONCORRENZA 

4.1 Qualora la Società eserciti l’Opzione secondo i termini e alle condizioni di cui al precedente paragrafo 2, per un periodo di 12 mesi
(dodici) decorrente dalla data di effettiva cessazione del Rapporto di Lavoro (a prescindere dalle ragioni di tale cessazione) il Dirigente si impegna a non prestare la sua opera, direttamente o indirettamente, in favore di soggetti terzi, né
a svolgere attività in qualità di titolare, socio, dipendente, lavoratore autonomo o agente, nel campo dei Orthofix prodotti alla gamma di « Extremity Fixation »su tutto il territorio dell’Unione Europea e degli Stati
Uniti d’America. 
 4.2. Il Dirigente si impegna inoltre a non distrarre e/o stornare clienti con i quali ella abbia trattato, direttamente o
indirettamente, negli ultimi tre anni del Rapporto di Lavoro. Il Dirigente si asterrà altresì dal distrarre e/o stornare dipendenti o altri collaboratori della Società, nonché dall’indurli a cessare il loro rapporto
di collaborazione con la Società stessa. 
 4.3. Al fine di consentire alla Società un adeguato controllo sul rispetto del patto di non
concorrenza da parte del Dirigente, quest’ultimo si impegna a fornire alla Società tutte le informazioni rilevanti riguardanti le attività lavorative e professionali che la stessa svolgerà durante il periodo di
validità del patto di non concorrenza. Tali informazioni verranno comunicate per iscritto e anteriormente all’effettivo svolgimento delle predette attività. Il Dirigente si impegna altresì ad informare anticipatamente il
proprio nuovo datore di lavoro e/o committente dell’esistenza del presente patto di non concorrenza, del quale il Dirigente è autorizzato a fornire copia. 

4.4. Ogni singola violazione, da parte del Dirigente, degli obblighi di non concorrenza di cui al presente paragrafo 4, comporterà il pagamento, da
parte del Dirigente stesso, di una penale pari ad Euro 150.000 senza alcun pregiudizio per il

 4) REGULATION OF NON-COMPETITION AGREEMENT 

4.1. If the Company exercises the Option in accordance with the terms and conditions referred to paragraph in 2 above, for a period of 12 months (twelve
months) from the effective date of termination of the Employment Relationship (independently from the reason of termination of the employment relation) the Manager agrees not to provide his work, directly or indirectly, in favor of third parties, or
engage as owner, partner, employee, self-employed or agent, in the field of the Orthofix Portfolio “Extremity Fixation” on the whole territory of the European Union and the United States of America. 

4.2 The Manager agrees not to distract or divert a customer to whom he has dealt with, directly or indirectly, in the last three years of the Employment
Relationship. The Manager will also refrain from distracting and/or divert employees or other employees of the Company and from inducing them to cease their relationship with the Company. 

4.3. In order to allow the Company an adequate monitoring compliance with the non-competition agreement by the Manager, the latter undertakes to provide the
Company with all relevant information concerning the business and professional activities that take place during the same period of validity of the non-competition agreement. 

These informations have to be communicated in written form and prior to the actual performance of said activities. The Manager has to inform in advance his new
employer of the existence of this non-competition agreement. The Manager is authorized to provide a copy of this contract to his employer. 
 4.4. For each
violation incurred by the Manager, of this non-compete option, according to what referred to in this paragraph 4, the Manager will

 

  
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 EXHIBIT C 

NON-COMPETITION AGREEMENT 

 

 
 diritto della Società al risarcimento dell’eventuale maggior danno. Al verificarsi della violazione,
e fermo restando il pagamento della penale di cui sopra, la Società avrà la facoltà di risolvere il patto di non concorrenza per inadempimento o di continuare a chiederne il corretto adempimento da parte del Dirigente. In questo
caso è fatto salvo il diritto del Dirigente al corrispettivo ancora eventualmente dovuto ai sensi del successivo paragrafo 5.1. In caso di risoluzione, il Dirigente, oltre a corrispondere la penale di cui sopra, sarà tenuta a
restituire alla Società il corrispettivo eventualmente già percepito ai sensi di quanto previsto al successivo paragrafo 5.1. 
 4.5 Resta
inteso che la Società potrà decidere di non esercitare l’Opzione. In questo caso, il patto di non concorrenza come regolato al presente paragrafo 4 non entrerà in vigore e non produrrà nessun effetto, e al dirigente
non spetterà alcun corrispettivo ai sensi di quanto previsto al successivo paragrafo 5.1. 
 5) CORRISPETTIVO PER IL PATTO DI NON CONCORRENZA 

5.1 Tenuto conto del background professionale del Dirigente, le Parti convengono che un corrispettivo per il predetto patto di non concorrenza pari al 70%
della retribuzione fissa annua lorda in vigore al momento della cessazione del Rapporto di lavoro, sia equo e ragionevole. 
 5.2. Il corrispettivo di cui al
presente paragrafo 5.1. verrà corrisposto in due rate di pari importo come segue: 
 - il 50% entro e non oltre sette mesi dalla data di entrata in
vigore del patto; 
 - il residuo 50% entro e non oltre il mese successivo alla data di termine del patto.

 pay to the Company, a penalty of Euros 150,000.00 without prejudice to compensation for further damages to the
Company. Upon occurrence of the violation, and without prejudice of payment of the abovementioned penalty, The Company will have the right to terminate the non-competition agreement for non-performance or to continue to ask for the proper
performance by the Manager. In this case, the Manager is entitled to the payment, as defined in paragraph 5.1. 
 In case of termination of the contract, the
Manager will have to pay the penalty, and will have to return back to the Company the amount he has already received under the provisions of paragraph 5.1. 

4.5. It is understood that the Company may decide not to exercise the option. In this case, the non-competition agreement, as regulated in this Paragraph 4,
will not produce any effect, and the Manager will not receive any payment, as defined in paragraph 5.1. 
 5) PAYMENT FOR NON-COMPETITION AGREEMENT 

5.1. According to the professional background of the Manager, the Parties agree that a remuneration for the non-competition agreement of 70% of annual gross
salary in force at the time of the termination of the employment relationship, is fair and reasonable. 
 5.2. The remuneration, referred to in this
paragraph 5.1., will be paid in two installments as follows: 
 - 50% no later than seven months from the date of entry into force of the agreement; 

- The remaining 50% within and no later than the month following the date of termination of the agreement.

 

  
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 EXHIBIT C 

NON-COMPETITION AGREEMENT 

 

  

					
	 Nov. 26, 2013
	  		  	 Nov. 18, 2013

	Date	  		  	Date
			
	ORTHOFIX AG	  		  	
			
	 /s/ Armin L. Landtwing
	  		  	 /s/ Davide Bianchi

	 Armin L. Landtwing

Verwaltungsrat
	  		  	Davide Bianchi

  

	
	 /s/ Brad Mason

	 Brad Mason

CEO Orthofix International

  
 Page 19 of 19

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