Document:

EX-10.8

 Exhibit 10.8 

Non-Employee Director 

Restricted Stock Grant Agreement under 

the Orthofix International N.V. 

2012 Long-Term Incentive Plan 
 This
Non-Employee Director Restricted Stock Grant Agreement (the “Agreement”) is made this         day of             (the
“Grant Date”) between Orthofix International N.V., a Curacao company (the “Company”), and the person signing this Agreement adjacent to the caption “Award Recipient” on the signature page
hereof (the “Award Recipient”), a non-employee member of the Board of Directors of the Company (the “Board”). Capitalized terms used and not otherwise defined herein shall have the meanings attributed
thereto in the Orthofix International N.V. 2012 Long-Term Incentive Plan (the “Plan”). 
 WHEREAS, pursuant to the
Plan, the Company desires to afford the Award Recipient the opportunity to acquire Common Shares on the terms and conditions set forth herein; 

NOW, THEREFORE, in connection with the mutual covenants hereinafter set forth and for other good and valuable consideration, the parties
hereto agree as follows: 
 1. Grant of Restricted Stock. 

(a) Number of Shares/Vesting. The Company hereby grants to the Award Recipient, on the Grant Date, an Award of
        shares of Stock (“Common Shares”) under the Plan subject to the vesting schedule and terms and conditions set forth below (the “Restricted Stock”).
Subject to earlier termination in accordance with the Plan or this Agreement and the terms and conditions herein, Restricted Stock granted under this Agreement shall vest with respect to 25% of the shares covered hereby on each of the first, second,
third and fourth anniversaries of the Grant Date (each, a “Vesting Date”); provided, however, for the avoidance of doubt, that there shall be no proportionate or partial vesting in the periods prior to or between each Vesting
Date. 
 (b) Additional Documents. The Award Recipient agrees to execute such additional documents and complete and execute
such forms as the Company may require for purposes of this Agreement. 
 (c) Issuance of Restricted Stock; Dividend and Distribution
Rights. Upon the vesting of any Restricted Stock pursuant to the terms hereof, the restrictions of Sections 1(a) and 3 shall lapse with respect to such vested Restricted Stock. The issuance of the Restricted Stock under this grant
shall be evidenced in such a manner as the Company, in its discretion, will deem appropriate, including, without limitation, book-entry registration or issuance of one or more stock certificates. As the Award Recipient’s vests as described
above, the recordation of the number of Common Shares attributable to such Award Recipient will be appropriately modified. 

2. Incorporation of Plan. The Award Recipient acknowledges receipt of the Plan, a copy of which is annexed hereto, and represents
that he or she is familiar with its terms and provisions and hereby accepts this grant of Restricted Stock subject to all of the terms and provisions of the Plan and all interpretations, amendments, rules and regulations which may, from time to
time, be promulgated and adopted pursuant to the Plan. The Plan is incorporated herein by reference. In the event of any conflict or inconsistency between the Plan and this Agreement, the Plan shall govern and this Agreement shall be interpreted to
minimize or eliminate any such conflict or inconsistency. 
 3. Restrictions on Transfer. To the extent not yet vested, the
Restricted Stock may not be sold, transferred, assigned, pledged or otherwise encumbered or disposed of, whether by operation of law or otherwise. 

4. Notification of Election Under Section 83(b) of the Code. Under Section 83 of the Internal Revenue Code of 1986,
as amended (the “Code”), the difference between the purchase price paid for the Restricted Stock (i.e., zero), and the fair market value of shares on the date any forfeiture restrictions lapse with respect to such shares,
will be reportable as ordinary income at that time. applicable to it. An Award Recipient may elect to be taxed at the time the shares are acquired, rather than when such shares cease to be subject to such forfeiture restrictions, by filing an
election under Section 83(b) of the Code with thirty days after the Grant Date. In 

 
such event, the Award Recipient will have to make a tax payment based on the fair market value of the shares on the Grant Date being treated as ordinary income. The form for making this election
is attached as Exhibit A hereto. Failure to make this filing within the thirty (30) day period will result in the recognition of ordinary income by the Award Recipient as the forfeiture restrictions lapse. 

BY SIGNING THIS AGREEMENT, THE AWARD RECIPIENT ACKNOWLEDGES THAT IT IS HIS OR HER SOLE RESPONSIBILITY, AND NOT THE COMPANY’S, TO FILE A
TIMELY ELECTION UNDER SECTION 83(b), EVEN IF THE AWARD RECIPIENT REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON HIS OR HER BEHALF. THE AWARD RECIPIENT AGREES AND ACKNOWLEDGES THAT HE OR SHE IS RELYING SOLELY ON HIS OR HER OWN
ADVISORS WITH RESPECT TO THE DECISION AS TO WHETHER OR NOT TO FILE ANY 83(b) ELECTION. 
 5. Termination of Service. 

(a) Termination of Service as a Result of Voluntary Resignation. If, prior to vesting, the Award Recipient’s Service is
terminated as a result of a Voluntary Resignation, the Restricted Stock shall be considered vested as of the date of such termination of Service with respect to the aggregate number of Common Shares as to which the Restricted Stock would have been
vested as of December 31 of the year in which such termination of Service occurs. The unvested portion of the Restricted Stock shall be forfeited by the Award Recipient and cancelled by the Company as of the date of the Award Recipient’s
termination of Service, and the Award Recipient shall have no further right or interest therein. In no event shall this Section 5(a) apply if the termination of Service is (i) for Cause or (ii) by reason of death, Disability or
Qualified Retirement. 
 (b) Termination of Service for Cause. If, prior to vesting, the Award Recipient’s Service is
terminated by the Company or any of its Subsidiaries for Cause, the unvested portion of the Restricted Stock shall be forfeited by the Award Recipient and cancelled by the Company as of the date of the Award Recipient’s termination of Service
for Cause, and the Award Recipient shall have no further right or interest therein unless the Committee in its sole discretion shall determine otherwise. 

(c) Termination of Service for Death, Disability or Qualified Retirement. If the Award Recipient’s Service terminates by
reason of death, Disability or Qualified Retirement, the Restricted Stock shall automatically vest in full as of the date of the Award Recipient’s termination of Service. 

6 Change in Control. Upon the occurrence of a Change in Control, the Restricted Stock shall automatically vest in full. 

7. Withholding. The Award Recipient (or following the Award Recipient’s death, the Award Recipient’s estate,
personal representative, or beneficiary, as applicable) shall be liable for any and all U.S. federal, state or local taxes of any kind required by law to be withheld with respect to the vesting of Restricted Stock, as well as for any and all
applicable withholding tax requirements of any other country or jurisdiction. When the Restricted Stock vests (or, in the event that tax withholding is required as of an earlier date, then such earlier date), the Company shall cause the Award
Recipient (or following the Award Recipient’s death, the Award Recipient’s estate, personal representative, or beneficiary, as applicable) to satisfy all of his or her tax withholding obligations by having the Company withhold a number of
Common Shares that would otherwise become vested (or would be eligible for future vesting) having a Fair Market Value (as of the close of business on the Vesting Date or date that tax withholding is required) not in excess of the minimum amount of
tax withholding obligations required by law to be withheld with respect to such vesting or other applicable event requiring tax withholding. 

8. No Service or Other Rights. This grant of Restricted Stock does not confer upon the Award Recipient any right to provide
Services to the Company or any Subsidiary or other affiliate thereof, or interfere with or limit in any way the right of the Company or any Subsidiary or other affiliate thereof to terminate such Award Recipient’s Service at any time.

9. Adjustment of and Changes in Common Shares. In the event of any merger, consolidation, recapitalization, reclassification, stock
dividend, extraordinary dividend, or other event or change in corporate structure affecting the Common Shares, the Committee shall make such adjustments, if any, as it deems appropriate in the number and class of shares subject to the Restricted
Stock. The foregoing adjustments shall be determined by the Committee in its sole discretion. 

 10. Rights as a Shareholder. Except as otherwise provided in this Agreement, the
Award Recipient shall have all rights of a stockholder with respect to the Restricted Stock granted under this Agreement, including voting rights. Notwithstanding the foregoing, dividends with respect to any Restricted Stock granted under this
Agreement shall accrue, but shall not be paid, until the Award Recipient shall become the holder of record thereof, and no adjustment shall be made for dividends or distributions or other rights in respect of any Restricted Stock for which the
record date is prior to the date upon which the Award Recipient shall become the holder of record thereof. 
 11. Discretionary
Nature of Plan. The Plan is discretionary in nature, and the Company may suspend, modify, amend or terminate the Plan in its sole discretion at any time, subject to the terms of the Plan and any applicable limitations imposed by
law. This Restricted Stock grant under the Plan is a one-time benefit and does not create any contractual or other right to receive additional Restricted Stock or other benefits in lieu of Restricted Stock in the future. Future grants, if
any, will be at the sole discretion of the Committee, including, but not limited to, the timing of any grant, the number of shares of Restricted Stock granted, and the vesting provisions. 

12. Miscellaneous Provisions. 

(a) Applicable Law. The validity, construction, interpretation and effect of this instrument will be governed by and construed
in accordance with the laws of the State of Texas, without giving effect to the conflicts of laws provisions thereof. 

(b) Notice. Any notice required by the terms of this Agreement shall be delivered or made electronically, over the Internet or
otherwise (with request for assurance of recipient in a manner typical with respect to communications of that type), or given in writing. Any notice given in writing shall be deemed effective upon personal delivery or upon deposit with the
United States Postal Service, by registered or certified mail, with postage and fees prepaid, and shall be addressed to the Company at its principal executive office and to the Award Recipient at the address that he or she has most recently provided
to the Company. Any notice given electronically shall be deemed effective on the date of transmission. 

(c) Headings. The headings of sections and subsections are included solely for convenience of reference and shall not affect
the meaning of the provisions of this Agreement. 
 (d) Counterparts. This Agreement may be executed in two or more counterparts,
each of which shall be deemed to be an original but all of which together will constitute one and the same instrument. 

(e) Amendments. The Board and the Committee shall have the power to alter or amend the terms of the grant of Restricted Stock as
set forth herein from time to time, in any manner consistent with the provisions of Sections 5.3 and 18.10 of the Plan, and any alteration or amendment of the terms of this grant of Restricted Stock by the Board or the Committee shall, upon
adoption, become and be binding on all persons affected thereby without requirement for consent or other action with respect thereto by any such person. The Committee shall give notice to the Award Recipient of any such alteration or amendment as
promptly as practicable after the adoption thereof. The foregoing shall not restrict the ability of the Award Recipient and the Board or the Committee by mutual written consent to alter or amend the terms of this grant of Restricted Stock in any
manner which is consistent with the Plan. 
 (f) Binding Effect. This Agreement shall be binding upon the heirs, executors,
administrators and successors of the Award Recipient and the Company. 
 (g) Entire Agreement. This Agreement and the Plan
constitute the entire agreement between the Award Recipient and the Company regarding the grant of Restricted Stock and supersede all prior arrangements or understandings (whether oral or written and whether express or implied) with respect
thereto.

 13. Definitions. For purposes of this Agreement, the following capitalized words
shall have the meanings set forth below. 
 “Qualified Retirement” shall mean a retirement from Service in
accordance with the Company’s retirement policies by the Award Recipient in which, at the time of such retirement, the sum of the Award Recipient’s age and consecutively completed 12-month periods of Service, in each case without giving
credit for any partial years, equals or exceeds 75. 
 “Voluntary Resignation” shall occur when the Award Recipient
voluntarily ceases Service (including, with respect to Service as a director of the Company, because the Award Recipient resigns from the Board for any reason or no reason, elects not to stand for re-election to the Board or is not re-elected to the
Board by the shareholders of the Company. Notwithstanding the foregoing, a Voluntary Resignation shall not occur as a result of termination of Service as a result of death, Disability or Qualified Retirement. 

(Remainder of page intentionally left blank) 

 EXECUTED on the date first written above. 

 

					
	COMPANY:				ORTHOFIX INTERNATIONAL N.V.
			
					By:                                     
                                    
					Name:
					Title:
			
	AWARD RECIPIENT:				
					By:                                     
                                    
					Name:
					Title:EX-10.1

 Exhibit 10.1 

ULTA SALON, COSMETICS & FRAGRANCE, INC. 

2011 INCENTIVE AWARD PLAN 

RESTRICTED STOCK UNIT AWARD AGREEMENT – Performance Shares 

Ulta Salon, Cosmetics & Fragrance, Inc. (the “Company”) pursuant to the Ulta Salon, Cosmetics &
Fragrance, Inc. 2011 Incentive Award Plan (the “Plan”) hereby grants the following individual the right to earn Restricted Stock Units (each, an “RSU”), subject to the requirements set forth herein and in the Plan.
Each RSU earned entitles the Holder to receive an equal number of shares of common stock, par value $0.01 per share (“Shares”) at settlement, as described herein. 

Grant: 
  

			
	Holder		 Name:
 Address:

 
 Location:

		
	 Grant Date
		
		
	 Exercise Price per Share
		
		
	 Target Number of RSUs Granted (“Target Award”)
		

 Performance Conditions: 
  

			
	Performance Period		[ADD PERFORMANCE PERIOD]
		
	 Earning of RSUs and Vesting Date
		The RSUs are earned (or not) based on achievement relative to the Performance Goals set forth on Exhibit A to this Agreement. To the extent that the Performance Goals are met, then any earned RSUs (and any earned Dividend
Equivalents thereon) shall be paid to the Holder on [ADD VESTING DATE] (the “Vesting Date”), provided the Holder has not incurred a Termination of Service prior to the Vesting Date (except as otherwise provided below).

 Unless otherwise defined herein, capitalized terms shall have the same meanings set forth in the
Plan. 
 A. Determination of Earned RSUs. The number of Performance Units granted, represents a target number of shares
that may be earned based upon satisfaction of the target Performance Goal as set forth on Exhibit A (the “Target Award”). The actual number of RSUs earned and vested may be greater or less than the Target Award, or even zero
and will be determined based on the Company’s actual performance level achieved according to the formulas set forth on Exhibit A. All RSUs that are not earned at the end of the Performance Period shall be forfeited. Once earned, the RSUs
are subject to the restrictions on transfer set forth in Section 2 and may be forfeited as provided in Section 4, until vested. Holder shall vest in the earned RSUs on the Vesting Date. Notwithstanding the foregoing, the RSUs will be
earned as follows: 
 1. Death/Disability: If Holder has a Termination of Service for reasons of death or
disability during the Performance Period, the Holder will earn and be vested in a prorated portion of the Target Award based on the number of days elapsed in the Performance Period through the Holder’s Termination of Service. 

2. Change in Control: Upon a Change in Control, the Performance Period shall terminate and the Holder shall be
deemed to have earned the number of RSUs equal to the Target Award, or the number of RSUs that would have been earned based on actual performance through the Change in Control, whichever is greater. 

B. Limits on Transfer. Holder may not sell, pledge, transfer, subject to lien, assign or otherwise hypothecate the RSUs unless
and until the RSUs are earned and have vested, and all other terms and conditions set forth herein and in the Plan have been satisfied. Any attempt to do so contrary to the provisions of this Award Agreement shall be null and void. 

C. Non-Compete, Non-Solicitation and Confidential Information. The grant of the RSUs is subject to Holder either
consenting to or having already consented to and abiding by the terms of the Confidential Information & Restrictive Covenants Agreement. 

D. Forfeiture. Unless otherwise provided herein, all unvested RSUs shall be forfeited upon the Holder’s
Termination of Service with the Company or the Holder’s violation of the Confidential Information & Restrictive Covenants Agreement. Notwithstanding the forgoing, Holder will be vested in any earned RSUs upon Termination of Service:

 1. by reason of death or disability; or 

2. by the Company without Cause after the end of the Performance Period and during the twelve (12) month period
following a Change in Control. 

 For this purpose “Cause” shall mean, as determined in the sole discretion of the Administrator, the
Holder’s (i) commission of a felony; (ii) dishonesty or misrepresentation involving the Company; (iii) serious misconduct in the performance or non-performance of his or her responsibilities to the Company (e.g., gross
negligence, willful misconduct, gross insubordination or unethical conduct) or (iv) violation of any material condition of employment if Holder is an employee of the Company. 

E. Settlement and Payment of RSUs. The RSUs will become payable and settled in Shares equal to the number of earned RSUs on the
Vesting Date; provided, however, that in the event of the Holder’s death or disability or termination without Cause under Section 4(b), then the earned RSUs shall become payable and settled as soon as practicable following the
Holder’s Termination of Service, but no later than March 15 of the year following the year in which the Holder’s Termination of Service occurs. The Company shall deliver the Shares electronically into a brokerage account designated by
Holder and shall not be required to deliver actual physical Share certificates. The issuance of Shares in settlement of vested RSUs will be subject to tax withholding, as provided below. 

F. Withholding. The Company has the authority to deduct or withhold, or require Holder to remit to the Company, an amount
sufficient to satisfy applicable federal, state, local and foreign withholding taxes with respect to the Shares issued in settlement of vested RSUs. A Holder may elect to satisfy his tax obligation, in whole or in part: (i) with the consent of
the Company, by surrendering Shares or having the Company withhold Shares otherwise issuable under this Award Agreement, in each case with a Fair Market Value on the date of such surrender or withholding equal to the minimum amount of the tax
withholding obligation or (ii) by payment in cash or check. Notwithstanding anything to the contrary herein, if the Holder made no such election or the tax obligation arises during a period in which the Holder is prohibited from trading under
any policy of the Company or by reason of the Securities Exchange Act of 1934, then the tax withholding obligation shall automatically be satisfied by the Company withholding Shares having a Fair Market Value equal to the minimum amount of the tax
withholding obligation. No Shares will be delivered to Holder in settlement of vested RSUs under Section 5 unless and until all tax withholding obligations have been satisfied. 

G. Rights as Stockholder. The RSUs awarded under this Award Agreement do not confer upon Holder any rights as a stockholder,
including but not limited to any right to vote or receive dividends. To the extent that dividends are paid on Shares, Holder shall be entitled to receive with respect to the RSUs, dividend equivalent amounts equal to the regular cash dividend
payable to holders of Shares (to the extent regular cash dividends are paid) as if Holder were an actual shareholder with respect to the number of Shares equal to his outstanding RSUs (the “Dividend Equivalents”). Participant’s
rights to Dividend Equivalents shall cease upon forfeiture or payment of the RSUs. The aggregate amount of such Dividend Equivalents shall be held by the Company, without interest thereon, and paid to Participant as of the next payroll period after
the RSUs are settled as provided in Section 5. Any Dividend Equivalents held by the Company on RSUs which are not earned or do not otherwise vest, shall be forfeited and retained by the Company. 

H. Employment. This Award Agreement does not constitute a contract of employment, and does not confer upon Holder the right to
be retained in the employ of the Company or any Subsidiary. In addition, nothing in the Plan or this Award Agreement shall be interpreted to interfere with or limit in any way the right of the Company to terminate Holder’s employment or
services at any time. 

 I. No Additional Rights. Participation in the Plan is voluntary. The value of the
RSUs is an extraordinary item that is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pensions or retirement benefits or similar
payments unless specifically and otherwise provided in such plans. Rather, the awarding of the RSUs under the Plan represents a mere investment. 

J. Limitations on Plan Rights. The RSUs are granted under and governed by the terms and conditions of the Plan. By acceptance of
the RSUs, Holder acknowledges and agrees that the Plan is discretionary in nature and may be amended, cancelled, or terminated by the Company, in its sole discretion, at any time. The grant of the RSUs under the Plan is a one-time benefit and does
not create any contractual or other rights in Holder to receive a grant of stock or benefits in lieu of RSUs in the future. Future grants of RSUs, if any, will be at the sole discretion of the Company, including, but not limited to, the timing of
the grant, the number of RSUs, and vesting provisions. The Plan has been introduced voluntarily by the Company and in accordance with the provisions of the Plan may be terminated by the Company at any time. By acceptance of the Restricted Stock Unit
Award, Holder consents to the provisions of the Plan and this Award Agreement. 
 K. Clawback. Notwithstanding anything
contained in the Agreement to the contrary, all RSUs earned under this Agreement, and any Shares issued upon settlement hereunder shall be subject to forfeiture, or repayment pursuant to the terms of any policy that the Company may implement in
compliance with the requirements of applicable law, including without limitation the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or regulations promulgated thereunder. 

 

			
	COMPANY:
	
	ULTA SALON, COSMETICS & FRAGRANCE, INC., a Delaware corporation
		
	By:		  

		
	Name:		  

		
	Title:		  

 EXHIBIT A 

PERFORMANCE VESTING 
 RSUs are
earned according to the following formula1: 
 Earned RSUs = (Revenue Payout Percentage
x 67% x Target Award) + (EBT Payout Percentage x 33% x Target Award) 
 “Revenue Payout Percentage” is determined based on the
following: 
  

																	
	 	  	Below
Threshold	 	 	Threshold	 	 	Target	 	 	Maximum	 
	 Revenue
	  	Less than $	[—	] 	 	$	[—	] 	 	$	[—	] 	 	$	[—	] 
	 Payout Percentage
	  	 	0	% 	 	 	50	% 	 	 	100	% 	 	 	200	% 

 with performance between performance levels interpolated linearly. 

“Revenue” shall mean the cumulative annual revenue for each fiscal year during the Performance Period, as reported in the
Company’s publicly filed financial statements.  
 “EBT Payout Percentage” is determined based on the following:

  

																	
	 	  	Below
Threshold	 	 	Threshold	 	 	Target	 	 	Maximum	 
	 EBT
	  	Less than $	[—	] 	 	$	[—	] 	 	$	[—	] 	 	$	[—	] 
	 Payout Percentage
	  	 	0	% 	 	 	50	% 	 	 	100	% 	 	 	200	% 

 with performance between performance levels interpolated linearly. 

“EBT” shall mean the cumulative operating earnings of the Company, for each fiscal year during the Performance Period as reported in
the Company’s publicly filed financial statements.  
 The Committee shall adjust the Performance Goal or actual achievement against the
Performance Goals by the Company to reflect one or more of the following during the Performance Period (i) items related to a change in accounting principles; (ii) items attributable acquired business operations; (iii) items related
to the disposal of a business or segment of a business; (iv) items related to discontinued operations that do not qualify as a segment of a business under applicable accounting standards; (v) items relating to changes in tax laws;
(vi) items relating to asset impairment charges (vii) items related to amortization of acquired intangible assets, (viii) restructuring expenses, and (ix) any other non-recurring charges or credits (as determined under GAAP) in
excess of $250,000. 
  

	1 	Applicable Performance Goals and weightings of the Performance Goals may vary by award in the discretion of the Committee. 

 The Committee shall have the sole authority and discretion to determine the achievement level of the Performance
Goals and the number of RSUs earned at the end of the Performance Period. No RSUs shall be earned unless and until the date the Committee determines and certifies the level of achievement of the Performance Goals. All RSUs not earned shall be
forfeited.

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