Document:

Exhibit 10.1

 

EXECUTION VERSION

 

TERMINATION AND RELEASE AGREEMENT

 

This TERMINATION AND
RELEASE AGREEMENT, dated as of August 2, 2016 (this “Agreement”), is made by and among New York REIT, Inc.,
a Maryland corporation (“Giants”), New York Recovery Operating Partnership, L.P., a Delaware limited partnership
and the operating partnership of Giants (the “Operating Partnership” and together with Giants, the “Giants
Parties”), JBG Properties Inc., a Maryland corporation (“Jaguar Properties”), JBG/Operating Partners,
L.P., a Delaware limited partnership (“Jaguar Operating Partners” and together with Jaguar Properties, the “Jaguar
Management Entities”) and the Jaguar Properties affiliates listed on Schedule A to the Master Combination Agreement (as
defined below) (the “Jaguar Funds” and together with the Jaguar Management Entities, the “Jaguar Parties”
and together with the Giants Parties, collectively, the “Parties”).

 

RECITALS

 

WHEREAS, the Parties
entered into a Master Combination Agreement, dated as of May 25, 2016 (the “Master Combination Agreement”).

 

WHEREAS, pursuant to
Section 1.7 of the Master Combination Agreement, each Jaguar Party has irrevocably appointed Jaguar Properties as its representative
(the “Jaguar Representative”) and to be the agent, proxy and attorney-in-fact for it regarding any matter relating
to or arising from the Master Combination Agreement, including the full power and authority on its behalf to (a) terminate the
Master Combination Agreement, (b) dispute, compromise, settle and pay any claims arising in connection with the Master Combination
Agreement or the Transactions and (c) take all other actions to be taken by or on its behalf in connection with the Master Combination
Agreement.

 

WHEREAS, Giants and
the Jaguar Representative desire to terminate the Master Combination Agreement and settle any and all claims between or among the
Parties that could be made in connection with or arising out of the Master Combination Agreement, any Ancillary Document or the
Transactions.

 

WHEREAS, in connection
with entering into the Master Combination Agreement, Jaguar Operating Partners and certain Giants stockholders entered into a Support
Agreement dated as of May 25, 2016 (the “Support Agreement”) that terminates upon the valid termination of the
Master Combination Agreement.

 

NOW, THEREFORE, in
consideration of the foregoing premises and the respective representations, warranties, covenants and agreements contained herein,
and intending to be legally bound, the Parties hereby agree as follows:

 

ARTICLE I

DEFINITIONS

 

Section 1.1           Definitions. Unless
otherwise specifically defined herein, each capitalized term used but not defined herein shall have the meaning assigned to such
term in the Master Combination Agreement.

 

ARTICLE
II

TERMINATION AND EXPENSE REIMBURSEMENT

 

Section 2.1           Termination
of Master Combination Agreement. Contingent upon the receipt by the Jaguar Parties of the Payment (defined below) described
in Section 2.3 below, effective immediately, the Master Combination Agreement is terminated and the Closing and the Transactions
are abandoned by mutual agreement pursuant to Section 8.1(a) of the Master Combination Agreement. Notwithstanding anything
in the Master Combination Agreement to the contrary, including Section 8.3 thereof, the Master Combination Agreement is,
as of the execution and delivery of this Agreement by all Parties, null and void and of no further force or effect whatsoever,
and all rights and obligations of any party thereto are terminated.

 

Section 2.2           Termination
of the Non-Disclosure Agreement. The Confidentiality Agreement by and among the Giants Parties and Jaguar Properties, dated
January 29, 2016 (the “Confidentiality Agreement”) is terminated and is, as of the execution and delivery of
this Agreement by all Parties, null and void and of no further force or effect whatsoever and all rights and obligations of any
party thereto are terminated.

 

    	 	1	 

     

    

 

Section 2.3           Expense
Reimbursement.

 

(a)           Simultaneously
with the execution of this Agreement, the Giants Parties are paying to the Jaguar Parties an amount in cash equal to $9,500,000
(the “Payment”), in immediately available funds (pursuant to the written instructions previously provided to
the Giants Parties by the Jaguar Parties). The Payment represents the reimbursement of $10,000,000 in expenses incurred by the
Jaguar Parties in connection with the Transactions minus the amount due to the Giants Parties by the Jaguar Parties pursuant
to Section 2.3(b) below.

 

(b)           The Parties
acknowledge and agree that the Jaguar Parties have agreed to reimburse the Giants Parties for $500,000 of expenses incurred by
the Giants Parties in connection with the Transactions, which reimbursement shall be deemed satisfied upon the Giants Parties making
the Payment pursuant to Section 2.3(a).

 

ARTICLE
III

REPRESENTATIONS AND WARRANTIES

 

Section 3.1           Representations
and Warranties of the Giants Parties. Each of the Giants Parties represents and warrants to the Jaguar Parties that: (a) it
has all necessary corporate or limited partnership power and authority, as applicable, to execute and deliver this Agreement and
to perform its obligations hereunder; (b) the execution, delivery and performance of this Agreement and the actions contemplated
hereby have been duly and validly authorized by all necessary corporate and limited partnership action, and no other corporate
or limited partnership proceedings on the part of the Giants Parties, as applicable, are necessary to authorize the execution and
delivery by the Giants Party of this Agreement, including approval of the Giants Board; and (c) this Agreement has been duly executed
and delivered by each Giants Party and, assuming due and valid authorization, execution and delivery hereof by each of the Jaguar
Parties, is a valid and binding obligation of such Giants Party, enforceable against such Giants Party in accordance with its terms,
except as the enforcement hereof may be limited by (i) bankruptcy, insolvency, reorganization, moratorium or other similar Laws,
now or hereafter in effect, relating to creditors’ rights generally and (ii) general principles of equity (regardless of
whether enforceability is considered in a proceeding in equity or at Law).

 

Section 3.2           Representations
and Warranties of the Jaguar Parties. Each of the Jaguar Parties represents to the Giants Parties that: (a) it and each of
its Subsidiaries has all necessary organizational power and authority to execute and deliver this Agreement (or that the Jaguar
Representative has all necessary corporate power and authority to execute and deliver this Agreement on its behalf ) and to perform
its obligations hereunder; (b) the execution, delivery and performance of this Agreement and the actions contemplated hereby have
been duly and validly authorized by all necessary corporate or other organizational formalities, and no other organizational action
is necessary to authorize the execution and delivery by it or on its behalf or that of any of its Subsidiaries; (c) this Agreement
has been duly executed and delivered by it and its Subsidiaries (as applicable) and, assuming due and valid authorization, execution
and delivery hereof by each of the Giants Parties, is a valid and binding obligation of such Jaguar Party or each such Subsidiary,
enforceable against such Jaguar Party or its Subsidiaries in accordance with its terms, except as the enforcement hereof may be
limited by (i) bankruptcy, insolvency, reorganization, moratorium or other similar Laws, now or hereafter in effect, relating to
creditors’ rights generally and (ii) general principles of equity (regardless of whether enforceability is considered in
a proceeding in equity or at Law); (d) neither such Jaguar Party nor any of its Affiliates is party to any agreement, commitment
or other arrangement or understanding that imposes any ongoing obligations that would prevent or restrict any Person from entering
into or consummating any transaction with Giants or any Giants Subsidiary or any of their respective properties; and (e) the Jaguar
Parties have delivered to the Giants Parties a true, correct and complete itemization, in reasonable detail, of all expenses of
the Jaguar Parties being reimbursed hereunder pursuant to Section 2.3(a).

 

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ARTICLE
IV

RELEASES AND COVENANT NOT TO SUE; INDEMNIFICATION

 

Section 4.1           Giants
Parties’ Release. Effective upon (a) the execution and delivery of this Agreement by all Parties and (b) receipt by the
Jaguar Parties of the Payment by the Giants Parties as provided in Section 2.3 above, each of the Giants Parties, for itself
and for each of its officers, directors, employees, predecessor entities, subsidiaries, divisions, attorneys, insurers, agents,
successors and assigns and Affiliates (as defined below) (the “Giants Releasing Parties”), hereby fully, completely,
finally, and forever releases and discharges each of the Jaguar Parties and each of their respective past and present subsidiaries,
officers, directors, general partners, managing members and employees, as well as the heirs, executors, Affiliates, administrators,
attorneys, accountants, investment bankers, financial or investment advisors, commercial bankers, insurers and co-insurers, predecessors,
successors, and assigns of any of them (collectively, “Jaguar Released Persons”) from any and all claims, debts,
rights, actions, causes of action, liabilities, demands and charges of whatever nature, known or unknown, without regard to the
subsequent discovery or existence of different or additional facts, whether based on federal, state, local, statutory or common
law or any other law, rule or regulation, at law or in equity, arising out of, or relating to, directly or indirectly: (i) the
Master Combination Agreement, the Support Agreement, the Confidentiality Agreement or the transactions contemplated thereby, including
any claim relating to the termination of the Master Combination Agreement and any acts, omissions, disclosures or communications
related to the Master Combination Agreement, the Support Agreement, the Confidentiality Agreement or the transactions contemplated
thereby, (ii) the events leading to the termination of the Master Combination Agreement, (iii) any deliberations or negotiations
in connection with the Master Combination Agreement, the Support Agreement, the Confidentiality Agreement and this Agreement, or
(iv) any SEC filings, public filings, periodic reports, press releases, proxy statements or other statements issued, made available
or filed relating directly or indirectly to the transactions contemplated by the Master Combination Agreement (the “Giants
Released Claims”); provided that, for the avoidance of doubt, nothing contained herein shall be deemed to release any
Jaguar Party from its respective obligations under this Agreement. As used herein, a Party’s “Affiliates”
are all persons or entities that control, are controlled by or are under common control with such Party, and “control”
means either (i) ownership of a majority of the equity interests of an entity or (ii) the ability to control the day to day activities
of any entity through appointment of a majority of the members of the board of directors or similar governing body.

 

Section 4.2           Jaguar
Parties’ Releases. Effective upon (a) the execution and delivery of this Agreement by all Parties and (b) payment of
the Payment by the Giants Parties as provided in Section 2.3 above, each of the Jaguar Parties, for themselves and for each
of their officers, directors, employees, predecessor entities, subsidiaries, divisions, attorneys, insurers, agents, successors
and assigns and Affiliates (the “Jaguar Releasing Parties”), hereby fully, completely, finally, and forever
releases and discharges each of the Giants Parties and each of their respective past and present subsidiaries, officers, directors,
general partners, managing members and employees, as well as the heirs, executors, Affiliates, administrators, attorneys, accountants,
investment bankers, financial or investment advisors, commercial bankers, insurers and co-insurers, predecessors, successors, and
assigns of any of them (collectively, “Giants Released Persons” and together with the Jaguar Released Persons,
the “Released Persons”) from any and all claims, debts, rights, actions, causes of action, liabilities, demands
and charges of whatever nature, known or unknown, without regard to the subsequent discovery or existence of different or additional
facts, whether based on federal, state, local, statutory or common law or any other law, rule or regulation, at law or in equity,
arising out of, or relating to, directly or indirectly: (i) the Master Combination Agreement, the Support Agreement, the Confidentiality
Agreement or the transactions contemplated thereby, including any claim relating to the termination of the Master Combination Agreement,
and any acts, omissions, disclosures or communications related to the Master Combination Agreement, the Support Agreement, the
Confidentiality Agreement or the transactions contemplated thereby, (ii) the events leading to the termination of the Master Combination
Agreement, (iii) any deliberations or negotiations in connection with the Master Combination Agreement, the Support Agreement,
the Confidentiality Agreement and this Agreement, or (iv) any SEC filings, public filings, periodic reports, press releases, proxy
statements or other statements issued, made available or filed relating directly or indirectly to the transactions contemplated
by the Master Combination Agreement (the “Jaguar Released Claims” and together with the Giants Released Claims,
the “Released Claims”); provided that, for the avoidance of doubt, nothing contained herein shall be deemed
to release the Giants Parties from their respective obligations under this Agreement, including with respect to its payment obligation
in Section 2.3 above.

 

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Section 4.3           Release
and Waiver of Known and Unknown Claims by the Parties. Without limiting the general effect of Sections 4.1 and 4.2,
the Parties further agree that they each shall be deemed to have, with respect to all Released Claims released by them, waived
any and all provisions, rights and benefits conferred by any law of any jurisdiction, state or territory of the United States (including
but not limited to Maryland and Delaware), or any principle of common law, which provides that a general release does not extend
to unknown claims of a creditor which if known would have affected the creditor’s settlement with the debtor. The Parties
agree and acknowledge that they may hereafter discover facts in addition to or different from those which any Party now knows or
believes to be true with respect to Released Claims, but the Parties agree that they each shall be deemed to have fully, finally,
and forever settled and released any and all of the Giants Released Claims and any and all of the Jaguar Released Claims, respectively,
whether known or unknown, suspected or unsuspected, contingent or non-contingent, accrued or unaccrued, whether or not concealed
or hidden, which now exist, or heretofore have existed upon any theory of law or equity now existing or coming into existence in
the future. The Parties acknowledge that the foregoing waivers were separately bargained for and are material elements of this
Agreement of which the releases and waivers are a part.

 

Section 4.4           Covenant
Not to Sue. Other than any action or proceeding to enforce the terms of this Agreement, none of the Parties hereto shall encourage,
solicit, initiate, institute, commence, continue, file, or otherwise prosecute, directly or indirectly, or through third parties,
any lawsuit, cause of action, claim, demand, or legal proceeding, for or arising out of or relating to any Giants Released Claims
or Jaguar Released Claims against any Party or any Jaguar Released Person or Giants Released Person.

 

Section 4.5           Litigation
Cooperation. From and after the date hereof, the Parties shall reasonably maintain and provide information to and reasonably
cooperate with one another with respect to any litigation regarding the Master Combination Agreement in which the Parties are co-defendants.
This shall include, but is not necessarily limited to, attending depositions, trials or hearings with reasonable prior notice (without
the necessity of a subpoena or personal service by any Party to another Party); providing any relevant documents and other tangible
things requested by another Party; not objecting to reasonable efforts by another Party to obtain relevant documents or other discovery;
and protecting, preserving and maintaining records and correspondence held by the Parties’ senior executives and directors
with respect to the Master Combination Agreement; provided, however, that nothing in this Section 4.5 shall require any
Party to provide any document or information that (i) is subject to confidentiality obligations to a third party (provided, however,
that each of the Giants Parties and the Jaguar Parties, as applicable, shall use their commercially reasonable efforts to obtain
the required consent of such third party to such access or disclosure), (ii) the disclosure of which would violate any Law, (iii)
is subject to any attorney-client, attorney work product or other legal privilege or (iv) that Parties reasonably believe is competitively
sensitive with respect to the other Party.

 

Section 4.6           Non-Admission
of Liability. This Agreement is made in compromise and settlement of all Released Claims. Nothing contained in this Agreement
shall be construed, in any fashion, as an admission of liability or wrongdoing by any Person, or of the existence or non-existence
of any fact. No party hereto shall assert that this Agreement constitutes any such admission, or offer this Agreement as evidence
in any action or proceeding (other than to enforce or for breach of this Agreement) for any purpose.

 

Section 4.7           Released
Claims. Each Party represents and warrants to the other Parties that it has not directly or indirectly transferred, assigned
or otherwise disposed of, any Released Claim or any interest therein or part thereof, and that it has the full authority to release
any and all Released Claims released by it pursuant to this Agreement.

 

ARTICLE
V

MISCELLANEOUS

 

Section 5.1           Publicity.
As promptly as practicable following the execution and delivery of this Agreement, the Parties shall issue a joint press release
announcing the execution of this Agreement and the termination of the Master Combination Agreement, in a form proposed by the Giants
Parties and approved by the Jaguar Representative, such approval not to be unreasonably withheld, conditioned or delayed. Prior
to releasing any further press release or other public announcement (including any document filed with the Securities and Exchange
Commission) with respect to this Agreement or the Master Combination Agreement, any of the transactions contemplated thereby or
any of the discussions between the Parties related to those agreements or any other transaction, the releasing Party shall, to
the extent reasonably practicable, provide the other Party an opportunity to review and comment on such release or announcement.

 

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Section 5.2           Non-Disparagement.
The Parties shall not, and shall not authorize any other Person to, disparage any other Party or any of its directors, officers,
employees or properties in any manner that would reasonably be expected to harm the business, business reputation or personal reputation
of such other Party, or any of its directors, officers or employees. The foregoing shall not be violated by truthful statements
(a) in response to legal process, required governmental testimony or filings, or (b) made in the course of any administrative or
arbitral proceedings (including, without limitation, testimony given under oath pursuant to subpoena or compulsory notice in connection
with such proceedings), or (c) necessary to rebut any untrue public statements made by another Party. The restrictions set forth
in this Section 5.2 shall apply for a period of two years from the date of this Agreement.

 

Section 5.3           Confidential
Information.           

 

(a)           Each of the
Giants Parties, on the one hand, and the Jaguar Parties, on the other hand, may be referred to herein as a “Disclosing
Party” and a “Receiving Party” with respect to the disclosure or receipt of Confidential Information
(as defined below). Each Party and its Affiliates shall, and shall cause any of its or their directors, managers (including New
York Recovery Advisors, LLC and any of its Affiliates), officers, members, employees and professional advisors (including attorneys,
accountants, financial advisors, and investment banks) (collectively, “Representatives”) to, promptly destroy
or return to the other Party all written materials (including materials delivered or provided in electronic form) embodying or
containing Confidential Information of a Disclosing Party (including all summaries, copies, notes and excerpts of such Confidential
Information) in the possession of it or its Representatives. Each Party shall promptly confirm in writing to the Disclosing Party
that all of such Confidential Information has been destroyed or returned to the Party from whom it was received; provided, however,
each Party and its Representatives may retain copies of such materials solely to the extent, required by laws, rules, or regulations
by which such Party is bound, pursuant to and consistent with such Party’s document-retention policies or pursuant to such
party’s automatic archiving and back-up procedures. Notwithstanding the foregoing, each Party and its Representatives shall
continue to be bound by its obligations of confidentiality hereunder and shall restrict access to, and use of, any Confidential
Information for so long as any such Confidential Information is retained by it and, except as otherwise provided in this Section
5.3(a), shall not disclose such retained Confidential Information to any Person without the prior written consent of the Disclosing
Party or Person who provided such information. Notwithstanding the foregoing, each Party and its Representatives may disclose retained
Confidential Information of another Party or Person if, but only to the extent, required to comply with binding orders (including
subpoenas, interrogatories, requests for information) of governmental entities or self-regulatory bodies that have jurisdiction
over the Parties; provided that (to the greatest extent permitted) the applicable Receiving Party (i) gives the Disclosing Party
prompt written notice to allow the Disclosing Party to seek, at its own expense, a protective order or other appropriate remedy,
(ii) upon being advised by the applicable Receiving Party’s counsel that disclosure is required, discloses (or its Representative
discloses) only the portion of such retained Confidential Information as is reasonably required to comply with any legally binding
obligation or (iii) if so requested by the Disclosing Party, and at such Party’s expense, uses commercially reasonable efforts
to obtain confidential treatment for any retained Confidential Information so disclosed. Without limiting the generality of the
foregoing, each Party shall take reasonable commercial measures to avoid any unauthorized disclosure, dissemination or use of retained
Confidential Information of any Disclosing Party, including, at a minimum, such measures it takes to protect its own confidential
information of a similar nature. For purposes of this Section 5.3, the reference of the “Parties” shall mean
the Giants Parties on the one hand and the Jaguar Parties on the other hand.

 

(b)           As used in this
Agreement, “Confidential Information” means all private, proprietary or non-public information (including, without
limitation, any trade secret of the Disclosing Party, New York Recovery Advisors, LLC or their respective Affiliates) disclosed
by the Disclosing Party, New York Recovery Advisors, LLC or their respective Affiliates to the Receiving Party prior to, on or
after the date hereof, regardless of the form (written, oral or electronic) in which it is disclosed. Confidential Information
includes (a) all such disclosed private, proprietary or non-public information related to the business activities, assets, portfolio
companies, finances, operations or prospects of the Disclosing Party, New York Recovery Advisors, LLC or their respective Affiliates;
and (b) all documents or materials prepared by the Receiving Party that contain, are derived from, summarize, analyze, or are based
upon Confidential Information of the other party. Confidential Information does not include any information that (i) is or becomes
publicly known or available without breach of this Agreement, (ii) was within the Receiving Party’s or its Representatives’
possession or known by Receiving Party or its Representatives prior to its receipt of such information; provided that the source
of such information was not, to the actual knowledge of the Receiving Party, bound by a contractual, legal or fiduciary obligation
of confidentiality to the Disclosing Party with respect to such information, (iii) is received by Receiving Party or its Representatives
on a non-confidential basis from a party who, to the actual knowledge of the Receiving Party (after reasonable inquiry), is not
bound by a contractual, legal or fiduciary obligation of confidentiality to the Disclosing Party with respect to such information,
or (iv) is independently developed by the Receiving Party or its Representatives without reliance on, or reference to, Confidential
Information.

 

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Section 5.4           Standstill.
Each Party agrees that, for a period of 12 months from the date hereof, neither such Party nor any of its Representatives acting
on its behalf nor any of its successor or assigns will (and neither such Party nor they will assist or encourage others to), directly
or indirectly, unless and until such Party or they shall hereafter have been specifically invited in writing by the board of directors
of the other Party: (a) acquire or agree, offer, seek or propose to acquire, or cause to be acquired, directly or indirectly, by
purchase or otherwise, ownership (including, without limitation, beneficial ownership as defined in Rule 13d-3 of the Exchange
Act) of any voting securities or direct or indirect rights or options to acquire any voting securities of such other Party or any
subsidiary thereof, or of any successor to or person in control of such other Party, any of the assets (except in the ordinary
course thereof, or of any successor to or person in control of such other Party, any of the assets (except in the ordinary course
of business) or businesses of such other party or any subsidiary or division thereof or of any such successor or controlling person
or any bank debt, claims or other obligations of such other Party or any rights or options to acquire such ownership (including
from a third party); (b) seek or propose to influence or control the management or policies of such other Party or to obtain representation
on such other Party’s board of directors, or solicit, or participate in the “solicitation” of, any “proxies”
(as such terms are used in the Exchange Act) or consents with respect to any securities of such other Party, or to make any public
announcement with respect to any of the foregoing; (c) make any public announcement with respect to, or submit a proposal for,
or offer of (with or without conditions) any merger, consolidation, business combination, tender or exchange offer, restructuring
or other extraordinary transaction involving such other Party or any of its subsidiaries or their securities or assets; (d) enter
into any discussions, negotiations, arrangements or understandings with any third party with respect to any of the foregoing, or
otherwise form, join or in any way participate in a “group” (as defined in Section 13(d)(3) of the Exchange Act) in
connection with any of the foregoing; or (e) make any public announcement with respect to any of the foregoing. Such Party and
its Representatives acting on such Party’s behalf also agree during such period not to make any proposal, statement or inquiry,
or disclose any intention, plan or arrangement, whether written or oral, inconsistent with the foregoing. Such Party will promptly
advise such other Party of any inquiry or proposal made to such Party with respect to any of the foregoing. Such Party represents
and warrants that, as of the date hereof, neither such Party nor any of its Affiliates beneficially own any securities of such
other Party. For purposes of this Section 5.4, the reference of the “Parties” shall mean the Giants Parties
on the one hand and the Jaguar Parties on the other hand.

 

Section 5.5           Non-Solicit.
Each Party agrees that for a period of 12 months from the date hereof, no members of the Deal Team (as defined below) shall directly
or indirectly, or direct any of their respective Representatives to, solicit for employment, hire or employ any officers, managers
or employees of the other Party or any advisor of the other Party providing asset or property management services, or its or their
Affiliates; provided that, the foregoing provision shall not preclude such Party from soliciting or hiring any such person who
(i) responds to a good faith generalized solicitation for employees through advertisements or search firms, provided that such
Party does not instruct, encourage or advise such firm to approach any such officer, manager or employee, and such searches are
not targeted or focused on such other Party or its officers, managers or employees or (ii) independently approaches the other Party
to seek employment. For purposes hereof, the term “Deal Team” means the directors, officers and employees of
such Party or its affiliates who are assigned or had been assigned to work with such other Party with respect to the Confidentiality
Agreement, Master Combination Agreement or this Agreement or have received Confidential Information. For purposes of this Section
5.5, the reference of the “Parties” shall mean the Giants Parties on the one hand and the Jaguar Parties on the
other hand.

 

Section 5.6           Cooperation.
The Parties shall, and shall cause each of their affiliates to, cooperate and take, or cause to be taken all commercially reasonable
and lawful actions as may be necessary or appropriate to withdraw all applications, notices, petitions and filings made with, and
to terminate all proceedings before, a Governmental Entity in connection with the Transactions.

 

Section 5.7           Independent
Legal Advice. Each Party acknowledges, warrants and represents that it has sought such independent legal advice as it deems
necessary with respect to the advisability of making this Agreement and the meaning and effect of all aspects of this Agreement,
and executes this Agreement with full knowledge of all rights which it may have. Each Party represents that it enters into this
Agreement freely, knowingly and voluntarily, and that the execution and delivery of this Agreement is not the result of any fraud,
duress, mistake or undue influence whatsoever.

 

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Section 5.8           Further
Assurances. The Parties agree to take such reasonable steps or execute such reasonable documents as may be necessary in the
future to effectuate the terms of this Agreement.

 

Section 5.9           Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Agreement by facsimile,
portable document format (.pdf) or other electronic means shall be effective as delivery of a manually executed counterpart to
this Agreement.

 

Section 5.10           Notices.
All notices, requests, demands, claims and other communications which are required or may be given under this Agreement shall be
in writing and shall be deemed to have been duly given (a) when received if delivered personally; (b) when transmitted if transmitted
by e-mail of a pdf attachment and the hard copy is sent by the next Business Day by reliable overnight delivery service (with proof
of service) or hand delivery); and (c) the Business Day after it is sent, if sent for next day delivery by reliable overnight delivery
service (with proof of service), hand delivery or certified or registered mail (return receipt requested and first-class postage
prepaid), addressed as follows (or at such other address for a Party as shall be specified in a notice given in accordance with
this Section 5.10):

 

if to the Giants Parties, to:

 

New York REIT, Inc.

405 Park Avenue

New York, New York 10022

		Attention:	Chief Executive Officer

		E-mail:	mhappel@nyrt.com

 

with copies to (which shall not constitute notice):

 

New York REIT, Inc.

405 Park Avenue

New York, New York 10022

		Attention:	Legal Department

		E-mail:	mead@nyrt.com

 

And

 

Proskauer Rose LLP

Eleven Times Square

New York, New York 10036

		Phone:	(212) 969-3000

		Facsimile:	(212) 969-2900

		Attention:	Steven L. Lichtenfeld, Esq.

		E-mail:	slichtenfeld@proskauer.com

 

if to the Jaguar Parties, to:

 

JBG Properties Inc.

4445 Willard Avenue, Suite 400

Chevy Chase, Maryland 20815

		Attention:	W. Matthew Kelly

		E-mail:	mkelly@jbg.com

 

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with copies to (which shall not constitute notice):

 

JBG Properties Inc.

4445 Willard Avenue, Suite 400

Chevy Chase, Maryland 20815

		Attention:	Legal Department

 

Hogan Lovells US LLP

Columbia Square 

555 Thirteenth Street, NW

Washington, District of Columbia 20004 

		Phone:	(202) 637-5868

		Facsimile:	(202) 637-5910

		Attention:	David W. Bonser, Esq.

		E-mail:	david.bonser@hoganlovells.com

 

 

Any Party may unilaterally change the identity of the person
to receive notice or the address or other information for delivery of such notice in a notice conforming to the requirements of
this Section.

 

Section 5.11           Entire
Agreement; Assignment. This Agreement constitutes the entire agreement among the Parties with respect to the subject matter
hereof and supersedes all other prior agreements and understandings, both written and oral, among or between the Parties or any
of them with respect to the subject matter hereof. This Agreement may not be assigned by any Party (whether by operation of law
or otherwise) without the prior written consent of the other Parties.

 

Section 5.12           Payment
of Expenses. Each Party shall bear its own expenses incident to preparing, negotiating, entering into, and performing its obligations
under, this Agreement.

 

Section 5.13           Severability.
If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by rule of Law or public policy,
all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic
or legal substance of the transactions contemplated hereby is not affected in a manner adverse to any Party. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith
to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the
end that the transactions contemplated hereby are fulfilled to the extent possible.

 

Section 5.14           No
Third-Party Beneficiaries. Each Party hereto acknowledges and agrees that each of the non-Party Released Persons are express
and intended third party beneficiaries of the releases of such non-Party Released Persons contained in Section 4.1 and Section
4.2 and the covenants not to sue contained in Section 4.4, and shall be entitled to enforce rights under such sections
to the same extent that such non-Party Released Persons could enforce such rights if they were a party to this Agreement. Except
as provided in the preceding sentence, no Person or entity is a third party beneficiary of this Agreement, and this Agreement is
not intended to and shall not confer upon any Person other than the Parties any rights or remedies whatsoever.

 

Section 5.15           Interpretation.
When a reference is made in this Agreement to Sections, such reference shall be to a Section of this Agreement unless otherwise
indicated. Whenever the words “include,” “includes” or “including” are used in this Agreement,
they shall be deemed to be followed by the words “without limitation.” The headings set forth in this Agreement are
for convenience of reference purposes only and shall not affect or be deemed to affect in any way the meaning or interpretation
of this Agreement or any term or provision hereof. When reference is made herein to a Person, such reference shall be deemed to
include all direct and indirect Subsidiaries of such Person unless otherwise indicated or the context otherwise requires. All references
herein to the Subsidiaries of a Person shall be deemed to include all direct and indirect Subsidiaries of such Person unless otherwise
indicated or the context otherwise requires. The Parties agree that they have been represented by counsel during the negotiation
and execution of this Agreement and, therefore, waive the application of any Law, regulation, holding or rule of construction providing
that ambiguities in an agreement or other document will be construed against the party drafting such agreement or document.

 

    	 	8	 

     

    

 

Section 5.16           Governing
Law; Jurisdiction.

 

(a)           This Agreement,
and all claims or causes of actions (whether at Law, in contract or in tort) that may be based upon, arise out of or related to
this Agreement or the negotiation, execution or performance of this Agreement, shall be governed by, and construed in accordance
with, the Laws of the State of Maryland without giving effect to conflicts of laws principles (whether of the State of Maryland
or any other jurisdiction that would cause the application of the Laws of any jurisdiction other than the State of Maryland).

 

(b)           All Actions
arising out of or relating to this Agreement shall be heard and determined exclusively in the Circuit Court for Baltimore City,
Maryland, or if jurisdiction over the matter is vested exclusively in federal courts, the United States District Court for the
District of Maryland, and the appellate courts to which orders and judgments thereof may be appealed (the “Chosen Courts”).
Each of the Parties hereby irrevocably and unconditionally (a) submits to the exclusive jurisdiction of the Chosen Courts for the
purpose of any Action arising out of or relating to this Agreement brought by any Party, whether sounding in tort, contract or
otherwise, (b) consents to the assignment of any proceeding in the Circuit Court for Baltimore City, Maryland to the Business and
Technology Case Management Program pursuant to Maryland Rule 16-205 (or any successor thereof), (c) agrees not to commence any
such action or proceeding except in such courts, (d) agrees that any claim in respect of any such action or proceeding may be heard
and determined in any Chosen Court, (e) waives, to the fullest extent it may legally and effectively do so, any objection which
it may now or hereafter have to the laying of venue of any such action or proceeding, and (f) waives, to the fullest extent permitted
by Law, the defense of an inconvenient forum to the maintenance of such action or proceeding. Each of the Parties agrees that a
final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by Law. Each Party irrevocably consents to service of process in the manner provided for notices
in Section 5.10. Nothing in this Agreement will affect the right of any Party to serve process in any other manner permitted
by Law.

 

Section 5.17            Waiver
of Jury Trial. EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT
OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.
EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS, (B) IT UNDERSTANDS
AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS, (C) IT MAKES SUCH WAIVERS VOLUNTARILY, AND (D) IT HAS BEEN INDUCED TO ENTER
INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 5.17.

 

 

[Remainder of the Page Intentionally
Left Blank]

 

    	 	9	 

     

    

 

IN WITNESS WHEREOF, the Parties have approved
and executed this Agreement as of the date first above written.

 

	 	NEW YORK REIT, INC.
	 	 	 	 
	 	 	 	 
	 	By:	 /s/ Michael A. Happel	 
	 	Name:	Michael A. Happel	 
	 	Title:  	Chief Executive Officer and President	 
	 	 	 	 
	 	 	 	 
	 	NEW YORK RECOVERY OPERATING PARTNERSHIP, L.P.
	 	 	 	 
	 	By:	New York REIT, Inc., its General Partner	 
	 	 	 	 
	 	 	 	 
	 	By:  	/s/ Michael A. Happel 	 
	 	Name:	Michael A. Happel	 
	 	Title:  	Chief Executive Officer and President 	 

 

     

     

    

 

	 	JAGUAR PARTIES:	 
	 	 	 
	 	JBG PROPERTIES, INC.	 
	 	 	 	 	 
	 	 	 	 	 
	 	By:       	/s/ W. Matthew Kelly	 
	 	Name: 	W. Matthew Kelly	 
	 	Title:   	Executive Vice President and Assistant Secretary	 
	 	 	 	 	 
	 	 	 	 	 
	 	JBG/Operating Partners, L.P.	 
	 	 	 	 	 
	 	By:	JBG Properties, Inc., its General Partner	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	By:	/s/ W. Matthew Kelly	 
	 	 	Name:	W. Matthew Kelly	 
	 	 	Title:   	Executive Vice President and Assistant Secretary	 
	 	 	 	 	 
	 	 	 	 	 
	 	JBG INVESTMENT FUND I, L.P.	 
	 	 	 	 	 
	 	By:	JBG Real Estate Associates XXXIV, L.L.C.,	 
	 	 	its General Partner	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	By:	/s/ Michael J. Glosserman	 
	 	 	Name:	Michael J. Glosserman	 
	 	 	Title:	Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	JBG INVESTMENT FUND II, L.P.	 
	 	 	 	 	 
	 	By:	JBG/Fund II Manager, L.L.C.,	 
	 	 	its General Partner	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	By:	/s/ Michael J. Glosserman	 
	 	 	Name:	Michael J. Glosserman	 
	 	 	Title:	Managing Member	 

 

     

     

    

 

	 	JBG INVESTMENT FUND III, L.P.	 
	 	 	 	 	 
	 	By:	JBG/Fund III Manager, L.L.C.,	 
	 	 	its General Partner	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	By:	/s/ Michael J. Glosserman	 
	 	 	Name:	Michael J. Glosserman	 
	 	 	Title:	Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	JBG INVESTMENT FUND VI, L.L.C.	 
	 	 	 	 	 
	 	By:	JBG/Fund VI Manager, L.L.C.,	 
	 	 	its Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	By:	/s/ Michael J. Glosserman	 
	 	 	Name:	Michael J. Glosserman	 
	 	 	Title:	Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	JBG INVESTMENT FUND VII, L.L.C.	 
	 	 	 	 	 
	 	By:	JBG/Fund VII Manager, L.L.C.,	 
	 	 	its Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	By:	/s/ W. Matthew Kelly	 
	 	 	Name:	W. Matthew Kelly	 
	 	 	Title:	Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	JBG InVESTMENT FUND VIII, L.L.C.	 
	 	 	 	 	 
	 	By:	JBG/Fund VIII Manager, L.L.C.,	 
	 	 	its Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	By:	/s/ W. Matthew Kelly	 
	 	 	Name:	W. Matthew Kelly	 
	 	 	Title:	Managing Member	 

 

     

     

    

 

	 	JBG InVESTMENT FUND IX, L.L.C.	 
	 	 	 	 	 
	 	By:	JBG/Fund IX Manager, L.L.C.,	 
	 	 	its Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	By:	/s/ W. Matthew Kelly	 
	 	 	Name:  	W. Matthew Kelly	 
	 	 	Title:    	Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	JBG/Urban direct member, L.l.c.	 
	 	 	 	 	 
	 	By:	JBG/Company Manager IV, L.L.C.,	 
	 	 	its Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	By:	/s/ W. Matthew Kelly	 
	 	 	Name:	W. Matthew Kelly	 
	 	 	Title:   	Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	JBG/RECAP INVESTORS, L.L.C.	 
	 	 	 	 	 
	 	By:	JBG/Company Manager II, L.L.C., its	 
	 	 	Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	By: 	/s/ Michael J. Glosserman	 
	 	 	Name: 	Michael J. Glosserman	 
	 	 	Title:    	Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	JBG/SEFC FUND INVESTORS, L.L.C.	 
	 	 	 	 	 
	 	By:	JBG/Company Manager II, L.L.C., its	 
	 	 	Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	By:	/s/ Michael J. Glosserman	 
	 	 	Name: 	Michael J. Glosserman	 
	 	 	Title:    	Managing Member	 
	 	 	 	 	 
	 	 	 	 	 
	 	JBG/SEFC PARTNERS, L.L.C.	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	By:       	/s/ Michael J. Glosserman	 
	 	 	Name: 	Michael J. Glosserman	 
	 	 	Title:   	Managing MemberExhibit

EXECUTION VERSION

JPMorgan Chase Bank, National Association
London Branch
25 Bank Street
Canary Wharf
London E14 5JP
England
May 12, 2016
To: Wright Medical Group N.V. | Legal
Attention: James Lightman Sr. Vice President, General Counsel and Secretary
Prins Bernhardplein 200 
1097 JB Amsterdam
The Netherlands
Telephone No.:  +31 20 675 4002
Email:  jim.lightman@wmt.com

Re:    Call Option Transaction
The purpose of this letter agreement (this “Confirmation”) is to confirm the terms and conditions of the call option transaction entered into between JPMorgan Chase Bank, National Association, London Branch (“Dealer”) and Wright Medical Group N.V. (“Counterparty”) as of the Trade Date specified below (the “Transaction”).  This letter agreement constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below.  This Confirmation shall replace any previous agreements with respect to the Transaction and serve as the final documentation for the Transaction.
The definitions and provisions contained in the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”), as published by the International Swaps and Derivatives Association, Inc. (“ISDA”) are incorporated into this Confirmation.  In the event of any inconsistency between the Equity Definitions and this Confirmation, this Confirmation shall govern.  Certain defined terms used herein are based on terms that are defined in the Private Placement Circular dated May 9, 2016 (the “Private Placement Circular”) relating to the 2.25% Cash Convertible Senior Notes due 2021 (as originally issued by Counterparty, the “Convertible Notes” and each USD 1,000 principal amount of Convertible Notes, a “Convertible Note”) issued by Counterparty in an aggregate initial principal amount of USD 395,000,000 pursuant to an Indenture to be dated May 20, 2016 between Counterparty and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Indenture”).  In the event of any inconsistency between the terms defined in the Private Placement Circular, the Indenture and this Confirmation, this Confirmation shall govern.  The parties acknowledge that this Confirmation is entered into on the date hereof with the understanding that (i) definitions set forth in the Indenture which are also defined herein by reference to the Indenture and (ii) sections of the Indenture that are referred to herein will conform to the descriptions thereof in the Private Placement Circular.  If any such definitions in the Indenture or any such sections of the Indenture differ from the descriptions thereof in the Private Placement Circular, the descriptions thereof in the Private Placement Circular will govern for purposes of this Confirmation.  The parties further acknowledge that the Indenture section numbers used herein are based on the draft of the Indenture last reviewed 

EXECUTION VERSION

by Dealer as of the date of this Confirmation, and if any such section numbers are changed in the Indenture as executed, the parties will amend this Confirmation in good faith to preserve the intent of the parties.  Subject to the foregoing, references to the Indenture herein are references to the Indenture as in effect on the date of its execution, and if the Indenture is amended following such date, any such amendment will be disregarded for purposes of this Confirmation unless the parties agree otherwise in writing.
Each party is hereby advised, and each such party acknowledges, that the other party has engaged in, or refrained from engaging in, substantial financial transactions and has taken other material actions in reliance upon the parties’ entry into the Transaction to which this Confirmation relates on the terms and conditions set forth below.
		
	1.
	This Confirmation evidences a complete and binding agreement between Dealer and Counterparty as to the terms of the Transaction to which this Confirmation relates.  This Confirmation shall supplement, form a part of, and be subject to an agreement in the form of the 2002 ISDA Master Agreement (the “Agreement”) as if Dealer and Counterparty had executed an agreement in such form (but without any Schedule except for (i) the election of US Dollars (“USD”) as the Termination Currency, and (ii) the election of the laws of the State of New York as the governing law (without reference to choice of law doctrine)) on the Trade Date.  In the event of any inconsistency between provisions of the Agreement and this Confirmation, this Confirmation will prevail for the purpose of the Transaction to which this Confirmation relates.  The parties hereby agree that no transaction other than the Transaction to which this Confirmation relates shall be governed by the Agreement.  The parties acknowledge that the Transaction to which this Confirmation relates is not governed by, and shall not be treated as a transaction under, any other ISDA Master Agreement entered into between the parties from time to time.  In the event of any inconsistency between this Confirmation and the Agreement, this Confirmation shall govern.

		
	2.
	The Transaction constitutes a Share Option Transaction for purposes of the Equity Definitions.  The terms of the particular Transaction to which this Confirmation relates are as follows:

General Terms.    
		
	Trade Date:
	May 12, 2016

		
	Effective Date:
	The third Exchange Business Day immediately prior to the Premium Payment Date

		
	Option Style:
	“Modified American”, as described under “Procedures for Exercise” below

		
	Option Type:
	Call

		
	Buyer:
	Counterparty

		
	Seller:
	Dealer

2

EXECUTION VERSION

		
	Shares:
	The ordinary shares of Counterparty, par value 0.03 Euros per share (Exchange symbol “WMGI”).

		
	Number of Options:
	395,000.  For the avoidance of doubt, the Number of Options shall be reduced by any Options exercised by Counterparty.  In no event will the Number of Options be less than zero.

		
	Applicable Percentage:
	50.0%

		
	Option Entitlement:
	A number equal to the product of the Applicable Percentage and 46.8165.

		
	Strike Price:
	USD 21.36

		
	Premium:
	USD 49,908,250.00

		
	Premium Payment Date:
	May 20, 2016

		
	Exchange:
	The NASDAQ Global Select Market

		
	Related Exchange(s):
	All Exchanges

		
	Excluded Provisions:
	Section 14.03 and Section 14.04(h) of the Indenture.

Procedures for Exercise.    
		
	Conversion Date:
	With respect to any conversion of a Convertible Note, the date on which the Holder (as such term is defined in the Indenture) of such Convertible Note satisfies all of the requirements for conversion thereof as set forth in Section 14.02(b) of the Indenture; provided that if Counterparty has not delivered to Dealer a related Notice of Exercise, then in no event shall a Conversion Date be deemed to occur hereunder (and no Option shall be exercised or deemed to be exercised hereunder) with respect to any surrender of a Convertible Note for conversion in respect of which Counterparty has elected to designate a financial institution for exchange in lieu of conversion of such Convertible Note pursuant to Section 14.08 of the Indenture.

		
	Expiration Time:
	The Valuation Time

		
	Expiration Date:
	November 15, 2021, subject to earlier exercise.

3

EXECUTION VERSION

		
	Multiple Exercise:
	Applicable, as described under “Automatic Exercise” below.

		
	Automatic Exercise:
	Notwithstanding Section 3.4 of the Equity Definitions, on each Conversion Date in respect of which a Notice of Conversion that is effective as to Counterparty has been delivered by the relevant converting Holder, a number of Options equal to the number of Convertible Notes in denominations of USD 1,000 as to which such Conversion Date has occurred shall be deemed to be automatically exercised; provided that such Options shall be exercised or deemed exercised only if Counterparty has provided a Notice of Exercise to Dealer in accordance with “Notice of Exercise” below.

Notwithstanding the foregoing, in no event shall the number of Options that are exercised or deemed exercised hereunder exceed the Number of Options.
		
	Notice of Exercise:
	Notwithstanding anything to the contrary in the Equity Definitions or under “Automatic Exercise” above, in order to exercise any Options, Counterparty must notify Dealer in writing, including by email, before 5:00 p.m. (New York City time) on the Scheduled Valid Day immediately preceding the scheduled first day of the Settlement Averaging Period for the Options being exercised of (i) the number of such Options and (ii) the scheduled first day of the Settlement Averaging Period and the scheduled Settlement Date; provided that in respect of Options relating to Convertible Notes with a Conversion Date occurring on or after the 45th Scheduled Valid Day preceding November 15, 2021, such notice may be given on or prior to the second Scheduled Valid Day immediately preceding the Expiration Date and need only specify the number of such Options.

		
	Valuation Time:
	At the close of trading of the regular trading session on the Exchange; provided that if the principal trading session is extended, the Calculation Agent shall determine the Valuation Time in good faith and in its commercially reasonable discretion.

4

EXECUTION VERSION

		
	Market Disruption Event:
	Section 6.3(a) of the Equity Definitions is hereby replaced in its entirety by the following:

“‘Market Disruption Event’ means, in respect of a Share, (i) a failure by the primary United States national or regional securities exchange or market on which the Shares are listed or admitted for trading to open for trading during its regular trading session or (ii) the occurrence or existence prior to 1:00 p.m. (New York City time) on any Scheduled Valid Day for the Shares for more than one half-hour period in the aggregate during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant stock exchange or otherwise) in the Shares or in any options, contracts or future contracts relating to the Shares.”
Settlement Terms.    
		
	Settlement Method:
	Cash Settlement

		
	Cash Settlement:
	In lieu of Section 8.1 of the Equity Definitions, Dealer will pay to Counterparty, on the relevant Settlement Date, the Option Cash Settlement Amount in respect of any Option exercised or deemed exercised hereunder.  In no event will the Option Cash Settlement Amount be less than zero.

		
	Option Cash Settlement Amount:
	In respect of any Option exercised or deemed exercised, an amount in cash equal to (A) the sum of the products, for each Valid Day during the Settlement Averaging Period for such Option, of (x) the Option Entitlement on such Valid Day multiplied by (y) the Relevant Price on such Valid Day less the Strike Price, divided by (B) the number of Valid Days in the Settlement Averaging Period; provided that if the calculation contained in clause (y) above results in a negative number, such number shall be replaced with the number “zero”.

		
	Valid Day:
	A day on which (i) there is no Market Disruption Event and (ii) trading in the Shares generally occurs on the Exchange or, if the Shares are not then listed on the Exchange, on the principal other United States national or regional securities exchange on 

5

EXECUTION VERSION

which the Shares are then listed or, if the Shares are not then listed on a United States national or regional securities exchange, on the principal other market on which the Shares are then listed or admitted for trading.  If the Shares are not so listed or admitted for trading, “Valid Day” means a Business Day.
		
	Scheduled Valid Day:
	A day that is scheduled to be a Valid Day on the principal United States national or regional securities exchange or market on which the Shares are listed or admitted for trading.  If the Shares are not so listed or admitted for trading, “Scheduled Valid Day” means a Business Day.

		
	Business Day:
	Any day other than a Saturday, a Sunday or a day on which the Federal Reserve Bank of New York is authorized or required by law or executive order to close or be closed.

		
	Relevant Price:
	On any Valid Day, the per Share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page WMGI <equity> AQR (or any successor thereto) in respect of the period from the scheduled opening time of the Exchange to the Scheduled Closing Time of the Exchange on such Valid Day (or if such volume-weighted average price is unavailable at such time, the market value of one Share on such Valid Day, as determined by the Calculation Agent using, if practicable, a volume-weighted average method).  The Relevant Price will be determined without regard to after-hours trading or any other trading outside of the regular trading session trading hours.

		
	Settlement Averaging Period:
	For any Option:

(i)    if the related Conversion Date occurs prior to the 45th Scheduled Valid Day immediately preceding the Expiration Date, the 40 consecutive Valid Days commencing on, and including, the second Valid Day following such Conversion Date; or
(ii)    if the related Conversion Date occurs on or following the 45th Scheduled Valid Day 

6

EXECUTION VERSION

immediately preceding the Expiration Date, the 40 consecutive Valid Days commencing on, and including, the 42nd Scheduled Valid Day immediately prior to the Expiration Date.
		
	Settlement Date:
	For any Option, the date cash is paid under the terms of the Indenture with respect to the conversion of the Convertible Note related to such Option.

		
	Settlement Currency:
	USD

		
	Representation and Agreement:
	Notwithstanding anything to the contrary in Equity Definitions (including, but not limited to, Section 9.11 thereof), the parties acknowledge that (i) any Shares delivered to Counterparty shall be, upon delivery, subject to restrictions and limitations arising from Issuer’s status as issuer of the Shares under applicable securities laws, (ii) Dealer may deliver any Shares required to be delivered hereunder in certificated form in lieu of delivery through the Clearance System and (iii) any Shares delivered to Counterparty may be “restricted securities” (as defined in Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”)).

		
	3.
	Additional Terms applicable to the Transaction.

Adjustments applicable to the Transaction:
		
	Potential Adjustment Events:
	Notwithstanding Section 11.2(e) of the Equity Definitions, a “Potential Adjustment Event” means an occurrence of any event or condition, as set forth in any Dilution Adjustment Provision, that would result in an adjustment under the Indenture to the “Conversion Rate” or the composition of a “unit of Reference Property” or to any “Last Reported Sale Price”, “Daily VWAP” or “Daily Conversion Value” (each as defined in the Indenture).  For the avoidance of doubt, Dealer shall not have any delivery obligation hereunder in respect of any “Distributed Property” delivered by Counterparty and/or Issuer pursuant to the fourth sentence of Section 14.04(c) of the Indenture or any payment obligation in respect of any cash paid by Counterparty and/or Issuer pursuant to the fourth 

7

EXECUTION VERSION

sentence of Section 14.04(d) of the Indenture (collectively, the “Conversion Rate Adjustment Fallback Provisions”), and no adjustment shall be made to the terms of the Transaction on account of any event or condition described in the Conversion Rate Adjustment Fallback Provisions.
		
	Method of Adjustment:
	Calculation Agent Adjustment, which means that, notwithstanding Section 11.2(c) of the Equity Definitions, upon any Potential Adjustment Event, the Calculation Agent shall make a corresponding adjustment to any one or more of the Strike Price, Number of Options, Option Entitlement and any other variable relevant to the exercise, settlement or payment for the Transaction.

Notwithstanding the foregoing and “Consequences of Merger Events / Tender Offers” below, if the Calculation Agent in good faith disagrees with any adjustment to the Convertible Notes that involves an exercise of discretion by Counterparty, Issuer or its board of directors, as applicable (including, without limitation, pursuant to Section 14.05 of the Indenture, Section 14.07(a) of the Indenture or any supplemental indenture entered into thereunder or in connection with any proportional adjustment or the determination of the fair value of any securities, property, rights or other assets), then in each such case, the Calculation Agent will determine the adjustment to be made to any one or more of the Strike Price, Number of Options, Option Entitlement and any other variable relevant to the exercise, settlement or payment for the Transaction in a commercially reasonable manner, after consultation with Counterparty; provided, that, notwithstanding the foregoing, if any Potential Adjustment Event occurs during the Settlement Averaging Period but no adjustment was made to any Convertible Note under the Indenture because the relevant Holder (as such term is defined in the Indenture) was deemed to be a record owner of the underlying Shares on the related Conversion Date, then the Calculation Agent shall make an adjustment, as determined by it in a commercially reasonable manner, after consultation with 

8

EXECUTION VERSION

Counterparty, to the terms hereof in order to account for such Potential Adjustment Event.
		
	Dilution Adjustment Provisions:
	Section 14.04(a), (b), (c), (d), (e) and Section 14.05 of the Indenture.

Extraordinary Events applicable to the Transaction:
		
	Merger Events:
	Applicable; provided that notwithstanding Section 12.1(b) of the Equity Definitions, a “Merger Event” means the occurrence of any event or condition set forth in the definition of “Reorganization Event” in Section 14.07(a) of the Indenture.

		
	Tender Offers:
	Applicable; provided that notwithstanding Section 12.1(d) of the Equity Definitions, a “Tender Offer” means the occurrence of any event or condition set forth in Section 14.04(e) of the Indenture.

Consequences of Merger Events / 
		
	Tender Offers:
	Notwithstanding Section 12.2 and Section 12.3 of the Equity Definitions, upon the occurrence of a Merger Event or a Tender Offer, and to the extent the Calculation Agent determines appropriate, the Calculation Agent shall make a corresponding adjustment in respect of any adjustment under the Indenture to any one or more of the nature of the Shares (in the case of a Merger Event), Strike Price, Number of Options, Option Entitlement, the definitions of “Exchange”, “Relevant Price”, “Settlement Averaging Period”, “Valid Day”, “Scheduled Valid Day”, “Market Disruption Event”, the number of Share thresholds in Section 9(b)(i) and 9(b)(ii) of this Confirmation and any other variable relevant to the exercise, settlement or payment for the Transaction, subject to the second paragraph under “Method of Adjustment”; provided, however, that such adjustment shall be made without regard to any adjustment to the Conversion Rate pursuant to any Excluded Provision; provided further that if, with respect to a Merger Event or a Tender Offer, (i) the consideration for the Shares includes (or, at the option of a holder of Shares, may include) shares of 

9

EXECUTION VERSION

an entity or person that is not a (1) Dutch public limited company, (2) corporation or limited liability company that is treated, or, if disregarded for U.S. federal income tax purposes, its regarded owner is treated, as a “United States person” under Section 7701(a)(30) of the U.S. Internal Revenue Code of 1986, as amended (the “Code”) (any such corporation or limited liability company being referred to hereinafter as a “U.S. Entity”) or (3) solely in the case of a Non-US Merger Transaction in respect of which Counterparty and Issuer have satisfied all of the requirements set forth in Sections 9(a) and 9(v) below, a corporation or entity treated as a corporation for U.S. federal income tax purposes organized and existing under the laws of the Islands of Bermuda, the Netherlands, Belgium, Switzerland, Luxembourg, the Republic of Ireland, Canada or the United Kingdom), or (ii) the Counterparty to the Transaction following such Merger Event or Tender Offer, will not be a U.S. Entity or will not be the Issuer or a wholly-owned subsidiary of the Issuer following such Merger Event or Tender Offer, then Cancellation and Payment (Calculation Agent Determination) may apply at Dealer’s sole election.
Nationalization, Insolvency or 
		
	Delisting:
	Cancellation and Payment (Calculation Agent Determination); provided that, in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also constitute a Delisting if the Exchange is located in the United States and the Shares are not immediately re‐listed, re‐traded or re‐quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors); if the Shares are immediately re-listed, re-traded or re‐quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors), such exchange or quotation system shall thereafter be deemed to be the Exchange.

Additional Disruption Events:    

10

EXECUTION VERSION

		
	Change in Law:
	Applicable; provided that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by (i) replacing the word “Shares” with the phrase “Hedge Positions” in clause (X) thereof and (ii) inserting the parenthetical “(including, for the avoidance of doubt and without limitation, adoption or promulgation of new regulations authorized or mandated by existing statute)” at the end of clause (A) thereof.

		
	Failure to Deliver:
	Applicable

		
	Hedging Disruption:
	Applicable; provided that:

(i)    Section 12.9(a)(v) of the Equity Definitions is hereby amended by (a) inserting the following words at the end of clause (A) thereof:  “in the manner contemplated by the Hedging Party on the Trade Date” and (b) inserting the following two phrases at the end of such Section:
“For the avoidance of doubt, the term “equity price risk” shall be deemed to include, but shall not be limited to, stock price and volatility risk.  And, for the further avoidance of doubt, any such transactions or assets referred to in phrases (A) or (B) above must be available on commercially reasonable pricing terms.”; and
(ii)    Section 12.9(b)(iii) of the Equity Definitions is hereby amended by inserting in the third line thereof, after the words “to terminate the Transaction”, the words “or a portion of the Transaction affected by such Hedging Disruption”.
		
	Increased Cost of Hedging:
	Applicable

		
	Hedging Party:
	For all applicable Additional Disruption Events, Dealer; provided, however, that all calculations, adjustments, specifications, choices and determinations by Dealer acting in its capacity as the Hedging Party shall be made in good faith and in a commercially reasonable manner (it being 

11

EXECUTION VERSION

understood that Hedging Party will be subject to the requirements of the second paragraph under “Calculation Agent” below).
		
	Determining Party:
	For all applicable Extraordinary Events, Dealer; provided, however, that all calculations, adjustments, specifications, choices and determinations by Dealer acting in its capacity as the Determining Party shall be made in good faith and in a commercially reasonable manner (it being understood that Determining Party will be subject to the requirements of the second paragraph under “Calculation Agent” below).

		
	Non-Reliance:
	Applicable.

Agreements and Acknowledgements
		
	Regarding Hedging Activities:
	Applicable

		
	Additional Acknowledgments:
	Applicable

		
	4.
	Calculation Agent.  Dealer; provided, however, that all calculations, adjustments, specifications, choices and determinations by the Calculation Agent shall be made in good faith and in a commercially reasonable manner.  The parties agree that they will work reasonably to resolve any disputes as set forth in the immediately following paragraph.

In the case of any calculation, adjustment or determination by the Hedging Party, the Determining Party or the Calculation Agent, following any written request from Counterparty, the Hedging Party, the Determining Party or the Calculation Agent, as the case may be, shall promptly provide to Counterparty a written explanation describing in reasonable detail the basis for such calculation, adjustment or determination (including any quotation, market data or information from internal or external sources used in making such calculation, adjustment or determination, but without disclosing any proprietary models or other information that may be proprietary or confidential). If Counterparty promptly disputes such calculation, adjustment or determination in writing and provides reasonable detail as to the basis for such dispute, the Calculation Agent shall, to the extent permitted by applicable law, discuss the dispute with Counterparty in good faith.
		
	5.
	Account Details.

		
	(a)
	Account for payments to Counterparty:

Bank:  Bank of America
ABA#:  026009593
Acct No.:  444014532256

12

EXECUTION VERSION

Acct Name:    Wright Medical Group N.V.
Swift: BOFAUS3N
		
	(b)
	Account for payments to Dealer:

Bank:    JPMorgan Chase Bank, N.A.
ABA#:     021000021
Acct No.:     099997979
Beneficiary:   JPMorgan Chase Bank, N.A. New York
Ref:    Derivatives
		
	6.
	Offices.

		
	(a)
	The Office of Counterparty for the Transaction is:  Inapplicable, Counterparty is not a Multibranch Party.

		
	(b)
	The Office of Dealer for the Transaction is: London

JPMorgan Chase Bank, National Association
London Branch
25 Bank Street
Canary Wharf
London E14 5JP
England
		
	7.
	Notices.

		
	(a)
	Address for notices or communications to Counterparty:

Wright Medical Group N.V. | Legal
Attention: James Lightman Sr. Vice President, General Counsel and Secretary
Prins Bernhardplein 200 
1097 JB Amsterdam
The Netherlands
Telephone No.:  +31 20 675 4002 
Email: jim.lightman@wmt.com

with a copy to:

Wright Medical Technology, Inc.
Attention: James Lightman Sr. Vice President, General Counsel and Secretary
1023 Cherry Road
Memphis, TN 38117
Telephone No.:  (901) 867-4743
Facsimile No.:  (901) 867-4398
Email:  jim.lightman@wmt.com

and

Ropes & Gray LLP
Attention:  Isabel Dische, Esq. and Thomas Holden, Esq.

13

EXECUTION VERSION

Telephone No:  (212) 596-9000
Facsimile No:  (212) 596-9090
Email:  isabel.dische@ropesgray.com & thomas.holden@ropesgray.com
		
	(b)
	Address for notices or communications to Dealer:

JPMorgan Chase Bank, National Association
EDG Marketing Support
Email:      edg_notices@jpmorgan.com
edg_ny_corporate_sales_support@jpmorgan.com
Facsimile No: 1-866-886-4506
J.P. Morgan Securities LLC,
383 Madison Ave,
New York, NY 10179 

		
	8.
	Representations and Warranties of Counterparty.

Each of the representations and warranties of Counterparty set forth in Section 6 of the Placement Agency Agreement (the “Placement Agency Agreement”), dated as of May 12, 2016, between Counterparty and J. Wood Capital Advisors, LLC, as Placement Agent (the “Placement Agent”), are true and correct and are hereby deemed to be repeated to Dealer as if set forth herein; except to the extent that such representation and warranties if not true or correct, would not have a material adverse effect on the power or ability of Counterparty to execute and deliver this Confirmation or to perform its obligations hereunder.  Counterparty hereby further represents and warrants to Dealer on the date hereof and on and as of the Premium Payment Date that:
		
	(a)
	Counterparty has all necessary corporate power and authority to execute, deliver and perform its obligations in respect of the Transaction; such execution, delivery and performance have been duly authorized by all necessary corporate action on Counterparty’s part; and this Confirmation has been duly and validly executed and delivered by Counterparty and constitutes its valid and binding obligation, enforceable against Counterparty in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or in equity) and except that rights to indemnification 

14

EXECUTION VERSION

and contribution hereunder may be limited by federal or state securities laws or public policy relating thereto.
		
	(b)
	Neither the execution and delivery of this Confirmation nor the incurrence or performance of obligations of Counterparty hereunder will conflict with or result in a breach of the certificate of incorporation or by-laws (or any equivalent documents) of Counterparty, or any applicable law or regulation, or any order, writ, injunction or decree of any court or governmental authority or agency, or any agreement or instrument to which Counterparty or any of its subsidiaries is a party or by which Counterparty or any of its subsidiaries is bound or to which Counterparty or any of its subsidiaries is subject, or constitute a default under, or result in the creation of any lien under, any such agreement or instrument.

		
	(c)
	No consent, approval, authorization, or order of, or filing with, any governmental agency or body or any court is required in connection with the execution, delivery or performance by Counterparty of this Confirmation, except such as have been obtained or made and such as may be required under the Securities Act of 1933, as amended (the “Securities Act”) or state securities laws or under the Dutch Act on Financial Supervision (Wet op het Financieel Toezicht).

		
	(d)
	Counterparty is not and, after consummation of the transactions contemplated hereby, will not be required to register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended.

		
	(e)
	Counterparty is an “eligible contract participant” (as such term is defined in Section 1a(18) of the Commodity Exchange Act, as amended, other than a person that is an eligible contract participant under Section 1a(18)(C) of the Commodity Exchange Act).

		
	(f)
	Each of it and its affiliates is not, on the date hereof, in possession of any material non-public information with respect to Issuer or the Shares.

		
	(g)
	No state or local (including any non-U.S. jurisdiction’s) law, rule, regulation or regulatory order applicable to the Shares would give rise to any reporting, consent, registration or other requirement (including without limitation a requirement to obtain prior approval from any person or entity), except for the reporting requirements of the Exchange Act and rules promulgated thereunder, or, the reporting or registration requirements of the Dutch Corporate Income Tax Act 1969 (Wet op de vennootschapsbelasting 1969), in each case, as a result of Dealer or its affiliates owning or holding (however defined) Shares.

		
	(h)
	Counterparty (A) is capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities; (B) will exercise independent judgment in evaluating the recommendations of any broker-dealer or its associated persons, unless it has otherwise notified the broker-dealer in writing; and (C) has total assets of at least $50 million.

		
	(i)
	It is a party which is able to adhere to the Attachment to the ISDA 2013 EMIR NFC Representation Protocol published by ISDA on March 8, 2013 (the “NFC Representation Protocol”) as if it were a party making the NFC Representation (as such term is defined in the NFC Representation Protocol).

		
	9.
	Other Provisions.

15

EXECUTION VERSION

		
	(a)
	Counterparty shall deliver to Dealer an opinion of Dutch counsel, dated as of the date hereof, with respect to the matters set forth in Sections 8(a) through (c).  Delivery of such opinion to Dealer shall be a condition precedent for the purpose of Section 2(a)(iii) of the Agreement with respect to each obligation of Dealer under Section 2(a)(i) of the Agreement.

		
	(b)
	Repurchase Notices.  Counterparty shall, on any day on which Issuer effects any repurchase of Shares, promptly give Dealer a written notice of such repurchase (a “Repurchase Notice”) on such day if following such repurchase, the number of outstanding Shares as determined on such day is (i) less than 99,423,718 (in the case of the first such notice) or (ii) thereafter more than 3,073,706 less than the number of Shares included in the immediately preceding Repurchase Notice.  Counterparty agrees to indemnify and hold harmless Dealer and its affiliates and their respective officers, directors, employees, affiliates, advisors, agents and controlling persons (each, an “Indemnified Person”) from and against any and all losses (including losses relating to Dealer’s hedging activities as a consequence of becoming, or of the risk of becoming, a Section 16 “insider”, including without limitation, any forbearance from hedging activities or cessation of hedging activities and any losses in connection therewith with respect to the Transaction), claims, damages, judgments, liabilities and expenses (including reasonable attorney’s fees), joint or several, which an Indemnified Person may become subject to, as a result of Counterparty’s failure to provide Dealer with a Repurchase Notice on the day and in the manner specified in this paragraph, and to reimburse, within 30 days, upon written request, each of such Indemnified Persons for any reasonable legal or other expenses incurred in connection with investigating, preparing for, providing testimony or other evidence in connection with or defending any of the foregoing.  If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted against the Indemnified Person as a result of Counterparty’s failure to provide Dealer with a Repurchase Notice in accordance with this paragraph, such Indemnified Person shall promptly notify Counterparty in writing, and Counterparty, upon request of the Indemnified Person, shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others Counterparty may designate in such proceeding and shall pay the fees and expenses of such counsel related to such proceeding.  Counterparty shall not be liable for any settlement of any proceeding contemplated by this paragraph that is effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, Counterparty agrees to indemnify any Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Counterparty shall not, without the prior written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding contemplated by this paragraph that is in respect of which any Indemnified Person is or could have been a party and indemnity could have been sought hereunder by such Indemnified Person, unless such settlement includes an unconditional release of such Indemnified Person from all liability on claims that are the subject matter of such proceeding on terms reasonably satisfactory to such Indemnified Person.  If the indemnification provided for in this paragraph is 

16

EXECUTION VERSION

unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then Counterparty hereunder, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities.  The remedies provided for in this paragraph (b) are not exclusive and shall not limit any rights or remedies which may otherwise be available to any Indemnified Person at law or in equity.  The indemnity and contribution agreements contained in this paragraph shall remain operative and in full force and effect regardless of the termination of the Transaction.
		
	(c)
	Regulation M.  Counterparty is not on the Trade Date engaged in a distribution, as such term is used in Regulation M under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), of any securities of Counterparty, other than a distribution meeting the requirements of the exception set forth in Rules 101(b)(10) and 102(b)(7) of Regulation M.  Counterparty shall not, until the second Scheduled Trading Day immediately following the Effective Date, engage in any such distribution.

		
	(d)
	No Manipulation.  Counterparty is not entering into the Transaction to create actual or apparent trading activity in the Shares (or any security convertible into or exchangeable for the Shares) or to raise or depress or otherwise manipulate the price of the Shares (or any security convertible into or exchangeable for the Shares) or otherwise in violation of the Exchange Act or the Dutch Act on Financial Supervision (Wet op het Financieel Toezicht).

		
	(e)
	Transfer or Assignment.

		
	(i)
	Counterparty shall have the right to transfer or assign its rights and obligations hereunder with respect to all, but not less than all, of the Options hereunder (such Options, the “Transfer Options”); provided that such transfer or assignment shall be subject to reasonable conditions that Dealer may impose, including but not limited, to the following conditions:

		
	(A)
	With respect to any Transfer Options, Counterparty shall not be released from its notice and indemnification obligations pursuant to Section 9(b) or any obligations under Section 9(m) or 9(q) of this Confirmation;

		
	(B)
	Such transfer or assignment shall be effected on terms, including any reasonable undertakings by such third party (including, but not limited to, an undertaking with respect to compliance with applicable securities laws in a manner that, in the reasonable judgment of Dealer, will not expose Dealer to material risks under applicable securities laws) and execution of any documentation and delivery of legal opinions with respect to securities laws and other matters by such third party and Counterparty, as are requested and reasonably satisfactory to Dealer;

		
	(C)
	Dealer will not, as a result of such transfer and assignment, be required to pay the transferee on any payment date an amount under Section 2(d)(i)(4) of the Agreement greater than an amount that Dealer would 

17

EXECUTION VERSION

have been required to pay to Counterparty in the absence of such transfer and assignment;
		
	(D)
	An Event of Default, Potential Event of Default or Termination Event will not occur as a result of such transfer and assignment;

		
	(E)
	Without limiting the generality of clause (B), Counterparty shall cause the transferee to make such Payee Tax Representations and to provide such tax documentation as may be reasonably requested by Dealer to permit Dealer to determine that results described in clause (C) will not occur upon or after such transfer and assignment; and

		
	(F)
	Counterparty shall be responsible for all reasonable costs and expenses, including reasonable counsel fees, incurred by Dealer in connection with such transfer or assignment;

		
	(ii)
	Dealer may, without Counterparty’s consent, transfer or assign all or any part of its rights or obligations under the Transaction (A) to any affiliate of Dealer (1) that has a rating for its long term, unsecured and unsubordinated indebtedness that is equal to or better than Dealer’s credit rating at the time of such transfer or assignment, or (2) whose obligations hereunder will be guaranteed, pursuant to the terms of a customary guarantee in a form used by Dealer generally for similar transactions, by Dealer, or (B) to any other third party with a rating for its long term, unsecured and unsubordinated indebtedness equal to or better than the lesser of (1) the credit rating of Dealer at the time of the transfer and (2) A- by Standard and Poor’s Rating Group, Inc. or its successor (“S&P”), or A3 by Moody’s Investor Service, Inc. (“Moody’s”) or, if either S&P or Moody’s ceases to rate such debt, at least an equivalent rating or better by a substitute rating agency mutually agreed by Counterparty and Dealer.  If at any time at which (A) the Section 16 Percentage exceeds 7.5%, (B) the Option Equity Percentage exceeds 14.5%, or (C) the Share Amount exceeds the Applicable Share Limit (if any applies) (any such condition described in clauses (A), (B) or (C), an “Excess Ownership Position”), Dealer is unable after using its good faith and commercially reasonable efforts to effect a transfer or assignment of Options to a third party on pricing terms reasonably acceptable to Dealer and within a time period reasonably acceptable to Dealer such that no Excess Ownership Position exists, then Dealer may designate any Exchange Business Day as an Early Termination Date with respect to a portion of the Transaction (the “Terminated Portion”), such that following such partial termination no Excess Ownership Position exists.  In the event that Dealer so designates an Early Termination Date with respect to a portion of the Transaction, a payment shall be made pursuant to Section 6 of the Agreement as if (1) an Early Termination Date had been designated in respect of a Transaction having terms identical to the Transaction and a Number of Options equal to the number of Options underlying the Terminated Portion, (2) Counterparty were the sole Affected Party with respect to such partial termination and (3) the Terminated Portion were the sole Affected Transaction (and, for the avoidance of doubt, the provisions of Section 9(k) shall apply to any amount 

18

EXECUTION VERSION

that is payable by Dealer to Counterparty pursuant to this sentence as if Counterparty was not the Affected Party).  The “Section 16 Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the number of Shares that Dealer and each person subject to aggregation of Shares with Dealer under Section 13 or Section 16 of the Exchange Act and rules promulgated thereunder directly or indirectly beneficially own (as defined under Section 13 or Section 16 of the Exchange Act and rules promulgated thereunder) and (B) the denominator of which is the number of Shares outstanding.  The “Option Equity Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the sum of (1) the product of the Number of Options and the Option Entitlement and (2) the aggregate number of Shares underlying any other call option transaction sold by Dealer to Counterparty or Issuer, as applicable, and (B) the denominator of which is the number of Shares outstanding.  The “Share Amount” as of any day is the number of Shares that Dealer and any person whose ownership position would be aggregated with that of Dealer (Dealer or any such person, a “Dealer Person”) under any law, rule, regulation, regulatory order or organizational documents or contracts of Issuer that are, in each case, applicable to ownership of Shares (“Applicable Restrictions”), owns, beneficially owns, constructively owns, controls, holds the power to vote or otherwise meets a relevant definition of ownership under any Applicable Restriction, as determined by Dealer in its reasonable discretion.  The “Applicable Share Limit” means a number of Shares equal to (A) the minimum number of Shares that could give rise to reporting or registration obligations or other requirements (including obtaining prior approval from any person or entity) of a Dealer Person, or could result in an adverse effect on a Dealer Person, under any Applicable Restriction, as determined by Dealer in its reasonable discretion, minus (B) 1% of the number of Shares outstanding.
		
	(iii)
	Notwithstanding any other provision in this Confirmation to the contrary requiring or allowing Dealer to purchase, sell, receive or deliver any Shares or other securities, or make or receive any payment in cash, to or from Counterparty, Dealer may designate any of its affiliates to purchase, sell, receive or deliver such Shares or other securities, or to make or receive such payment in cash, and otherwise to perform Dealer’s obligations in respect of the Transaction and any such designee may assume such obligations.  Dealer shall be discharged of its obligations to Counterparty to the extent of any such performance.

		
	(f)
	Ratings Decline.  If at any time the long term, unsecured and unsubordinated indebtedness of Dealer is rated Ba1 or lower by Moody’s or BB+ or lower by S&P (any such rating, a “Ratings Downgrade”), then Counterparty may, at any time following the occurrence and during the continuation of such Ratings Downgrade, provide written notice to Dealer specifying that it elects for this Section 9(f) to apply (a “Trigger Notice”).  Upon receipt by Dealer of a Trigger Notice from Counterparty, Dealer shall promptly elect that either (i) the parties shall negotiate in good faith 

19

EXECUTION VERSION

terms for collateral arrangements pursuant to which Dealer is required to provide collateral (including, but not limited to, equity or equity-linked securities issued by Counterparty or Issuer, as applicable) to Counterparty in respect of the Transaction with a value equal to the full mark-to-market exposure of Counterparty under the Transaction, as determined by Dealer in a good faith commercially reasonable manner, or (ii) an Additional Termination Event shall occur and, with respect to such Additional Termination Event, (A) Counterparty shall be deemed to be the sole Affected Party, and (B) the Transaction shall be the sole Affected Transaction.
		
	(g)
	Role of Agent.  Each party agrees and acknowledges that (i) J.P. Morgan Securities LLC, an affiliate of Dealer (“JPMS”), has acted solely as agent for Dealer (and not as agent for Counterparty) and not as principal with respect to the Transaction and (ii) JPMS has no obligation or liability, by way of guaranty, endorsement or otherwise, in any manner in respect of the Transaction (including, if applicable, in respect of the settlement thereof). Each party agrees it will look solely to the other party (or any guarantor in respect thereof) for performance of such other party’s obligations under the Transaction. For the avoidance of doubt, any performance by Dealer of its obligations hereunder solely to JPMS shall not relieve Dealer of such obligations. Any performance by Counterparty of its obligations (including notice obligations) through or by means of JPMS’ agency for Dealer shall constitute good performance of Counterparty’s obligations hereunder to Dealer.

		
	(h)
	Additional Termination Events.

		
	(i)
	Notwithstanding anything to the contrary in this Confirmation if an event of default occurs under the terms of the Convertible Notes as set forth in Section 6.01 of the Indenture, then such event of default shall constitute an Additional Termination Event applicable to the Transaction and, with respect to such Additional Termination Event, (A) Counterparty shall be deemed to be the sole Affected Party, (B) the Transaction shall be the sole Affected Transaction and (C) Dealer shall be the party entitled to designate an Early Termination Date pursuant to Section 6(b) of the Agreement.

		
	(ii)
	Notwithstanding anything to the contrary in this Confirmation, the receipt by Dealer from Counterparty, within the applicable time period set forth under “Notice of Exercise” of any Notice of Exercise in respect of Options that relate to Convertible Notes as to which additional Shares would be added to the Conversion Rate pursuant to Section 14.03 of the Indenture in connection with a “Make-Whole Fundamental Change” (as defined in the Indenture) (such Convertible Notes, “Make-Whole Convertible Notes”) shall constitute an Additional Termination Event as provided in this Section 9(h).  Upon receipt of any such Notice of Exercise, Dealer shall designate an Exchange Business Day following such Additional Termination Event (which Exchange Business Day shall in no event be earlier than the related settlement date for such Convertible Notes) as an Early Termination Date with respect to the portion of this Transaction corresponding to a number of Options (the “Make-Whole Conversion Options”) equal to the lesser of (A) the number of such Options specified in such Notice of Exercise and (B) the Number of Options as of the date Dealer designates such Early 

20

EXECUTION VERSION

Termination Date (prior to giving effect to a reduction thereto on such date pursuant to the immediately following sentence).  As of any such Early Termination Date, the Number of Options shall be reduced by the applicable number of Make-Whole Conversion Options.  Any payment hereunder with respect to such termination of the Make-Whole Conversion Options shall be calculated pursuant to Section 6 of the Agreement using a volatility input that is equal to the Relevant Volatility Input, as if (1) an Early Termination Date had been designated in respect of a Transaction having terms identical to this Transaction and a Number of Options equal to the number of Make-Whole Conversion Options, (2) Counterparty were the sole Affected Party with respect to such Additional Termination Event and (3) the terminated portion of the Transaction were the sole Affected Transaction (and, for the avoidance of doubt, in determining the amount payable pursuant to Section 6 of the Agreement, the Calculation Agent shall not take into account any adjustments to the Option Entitlement that result from corresponding adjustments to the Conversion Rate pursuant to Section 14.03 of the Indenture); provided that the amount of cash deliverable in respect of such early termination by Dealer to Counterparty shall not be greater than the product of (x) the Applicable Percentage, (y) the number of Make-Whole Conversion Options and (z) the excess of (I) (1) the Conversion Rate (after taking into account any applicable adjustments to the Conversion Rate pursuant to Section 14.03 of the Indenture) multiplied by (2) a price per Share determined by the Calculation Agent over (II) the principal amount per Make-Whole Convertible Note, as determined by the Calculation Agent.  For the avoidance of doubt, if the Transaction (or a portion of the Transaction) is subject to termination or cancellation both (i) pursuant to this Section 9(h)(ii) and (ii) pursuant to either Section 12.7 or Section 12.9 of the Equity Definitions, in each case, as a result of the same “Make-Whole Fundamental Change” (as defined in the Indenture), as determined by Dealer in good faith and commercially reasonably, any such termination or cancellation payment with respect to the Transaction (or such portion of the Transaction, as applicable) shall be calculated using a volatility input that is equal to the Relevant Volatility Input.  “Relevant Volatility Input” means a volatility input that is determined by Dealer in good faith and in a commercially reasonable manner and which, without limitation, may be based on implied volatility levels for options on the Shares with strike prices approximate to the Strike Price of the Transaction or approximate to the strike price of over-the-counter equity options on the Shares that are included in its commercially reasonable Hedge Positions with respect to the Transaction, in each case, as determined by Dealer in good faith and a commercially reasonable manner; provided that, if (i) Dealer (whether in its capacity as “Calculation Agent”, “Determining Party”, “Hedging Party” or otherwise) is required to determine a volatility input under any over-the-counter equity option transaction to which Dealer is a party and to which Counterparty (or, if different, Issuer) is party relating to the Shares (such equity option transactions, “Relevant 

21

EXECUTION VERSION

Positions”) and (ii) Dealer determines that such Relevant Positions (or a portion thereof) are terminated, cancelled, offset or otherwise unwound at approximately the same time (as determined by Dealer in good faith and commercially reasonably) as the Transaction (or portion thereof) is terminated, cancelled, offset or otherwise unwound, Dealer shall use a Relevant Volatility Input that is no less than such volatility input for such Relevant Positions. For the avoidance of doubt, a Relevant Volatility Input that is equal to the volatility input for any Relevant Positions shall, in no event, be deemed to be commercially unreasonable.
		
	(iii)
	(a) Promptly following any Repayment Event (as defined below) (but, in any event, within 5 Scheduled Trading Days following settlement thereof), Counterparty may notify Dealer of such Repayment Event and the aggregate principal amount of Convertible Securities subject to such Repayment Event (the “Repayment Convertible Securities”) (any such notice, a “Repayment Notice”). The receipt by Dealer from Counterparty of any Repayment Notice shall constitute an Additional Termination Event as provided in this Section 9(h)(iii). 

(b)    Upon receipt of any such Repayment Notice, Dealer shall designate an Exchange Business Day following receipt of such Repayment Notice (which Exchange Business Day will in no event be earlier than the settlement date for the relevant Repayment Event) as an Early Termination Date with respect to a portion (the “Repayment Terminated Portion”) of the Transaction consisting of a number of Options (the “Repayment Options”) equal to the lesser of (A) the number of Repayment Convertible Securities in denominations of USD1,000 that are subject to the relevant Repayment Event and (B) the Number of Options as of the date Dealer designates such Early Termination Date (prior to giving effect to a reduction thereto on such date pursuant to the immediately following sentence).  As of any such Early Termination Date, the Number of Options shall be reduced by the applicable number of Repayment Options.  
(c)    Any payment or delivery in respect of such termination of the Repayment Terminated Portion of the Transaction shall be made pursuant to Section 6 of the Agreement.  If Dealer determines or otherwise uses a volatility input in determining an Early Termination Amount under Section 6 of the Agreement in respect of an Additional Termination Event pursuant to this Section 9(h)(iii), Dealer shall use the Relevant Volatility Input.  Counterparty shall be the sole Affected Party with respect to such Additional Termination Event and the Repayment Terminated Portion of the Transaction shall be the sole Affected Transaction. “Repayment Event” means that (i) any Convertible Securities are repurchased by Counterparty or any of its subsidiaries, (ii) any Convertible Securities are delivered to Counterparty in exchange for delivery of any property or assets of Counterparty or any of its subsidiaries (howsoever described), (iii) any principal of any of the Convertible Securities is repaid prior to the final maturity date of the 

22

EXECUTION VERSION

Convertible Securities (other than upon an event of default under the Convertible Securities described in Section 9(h)(i)), or (iv) any Convertible Securities are exchanged by or for the benefit of the Holders (as defined in the Indenture) thereof for any other securities of Counterparty or any of its Affiliates (as defined in the Indenture) (or any other property, or any combination thereof) pursuant to any exchange offer or similar transaction; provided that no conversion of Convertible Securities pursuant to the terms of the Indenture shall constitute a Repayment Event.  Counterparty acknowledges its responsibilities under applicable securities laws, and in particular Section 9 and Section 10(b) of the Exchange Act and the rules and regulations thereunder, in respect of any action taken by Counterparty or any of its Affiliates (as defined in the Indenture) in respect of a Repayment Event, including, without limitation, the delivery of a Repayment Notice.  
(d)    Counterparty shall cause any Convertible Securities subject to a Repayment Event to be promptly cancelled and acknowledges and agrees that, except to the extent provided above in this Section 9(h)(iii), all such Convertible Securities subject to a Repayment Event will be deemed for all purposes under the Transaction to be permanently extinguished and no longer outstanding.
		
	(i)
	Amendments to the Equity Definitions.

		
	(i)
	Section 12.6(a)(ii) of the Equity Definitions is hereby amended by (1) deleting from the fourth line thereof the word “or” after the word “official” and inserting a comma therefor, and (2) deleting the semi-colon at the end of subsection (B) thereof and inserting the following words therefor “or (C) at Dealer’s option, the occurrence of any of the events specified in Section 5(a)(vii)(1) through (9) of the ISDA Master Agreement with respect to that Issuer.”

		
	(ii)
	Section 12.9(b)(i) of the Equity Definitions is hereby amended by (1) replacing “either party may elect” with “Dealer may elect” and (2) replacing “notice to the other party” with “notice to Counterparty” in the first sentence of such section.

		
	(j)
	Setoff.  Obligations under the Transaction shall not be set off by either party against any other obligations of the parties, whether arising under the Agreement, this Confirmation, under any other agreement between the parties hereto, by operation of law or otherwise.  For the avoidance of doubt, in the event of bankruptcy or liquidation of either Counterparty or Dealer neither party shall have the right to set off any obligation that it may have to the other party under the Transaction against any obligation such other party may have to it, whether arising under the Agreement, this Confirmation or any other agreement between the parties hereto, by operation of law or otherwise.

		
	(k)
	Alternative Calculations and Payment on Early Termination and on Certain Extraordinary Events.  If in respect of the Transaction, an amount is payable by Dealer to Counterparty (i) pursuant to Section 12.7 or Section 12.9 of the Equity 

23

EXECUTION VERSION

Definitions or (ii) pursuant to Section 6(d)(ii) of the Agreement (any such amount, a “Payment Obligation”), Dealer shall satisfy the Payment Obligation by the Share Termination Alternative (as defined below), unless (a) Counterparty gives irrevocable telephonic notice to Dealer, confirmed in writing within one Scheduled Trading Day, no later than 12:00 p.m. (New York City time) on the Merger Date, the Tender Offer Date, the Announcement Date (in the case of Nationalization, Insolvency or Delisting), the Early Termination Date or date of cancellation, as applicable, of its election that the Share Termination Alternative shall not apply, (b) Counterparty remakes (which representation is confirmed to Dealer in writing by Issuer, if other than Counterparty) the representation set forth in Section 8(f) as of the date of such election and (c) Dealer agrees, in its reasonable discretion, to such election, in which case the provisions of Section 12.7 or Section 12.9 of the Equity Definitions, or the provisions of Section 6(d)(ii) of the Agreement, as the case may be, shall apply.
		
	Share Termination Alternative:
	If applicable, Dealer shall deliver to Counterparty the Share Termination Delivery Property on, or within a commercially reasonable period of time after, the date when the relevant Payment Obligation would otherwise be due pursuant to Section 12.7 or 12.9 of the Equity Definitions or Section 6(d) (ii) and 6(e) of the Agreement, as applicable, in satisfaction of such Payment Obligation in the manner reasonably requested by Counterparty free of payment.

		
	Share Termination Delivery Property:
	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price.  The Calculation Agent shall adjust the Share Termination Delivery Property by replacing any fractional portion of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate the Share Termination Unit Price.

		
	Share Termination Unit Price:
	The value to Dealer of property contained in one Share Termination Delivery Unit, as determined by the Calculation Agent in its discretion by commercially reasonable means and notified by the Calculation Agent to Dealer at the time of notification of the 

24

EXECUTION VERSION

Payment Obligation.  For the avoidance of doubt, the parties agree that in determining the Share Termination Delivery Unit Price the Calculation Agent may consider, if commercially reasonable, the purchase price paid in connection with the purchase of Share Termination Delivery Property.
		
	Share Termination Delivery Unit:
	One Share or, if the Shares have changed into cash or any other property or the right to receive cash or any other property as the result of a Nationalization, Insolvency or Merger Event (any such cash or other property, the “Exchange Property”), a unit consisting of the type and amount of such Exchange Property received by a holder of one Share (without consideration of any requirement to pay cash or other consideration in lieu of fractional amounts of any securities) in such Nationalization, Insolvency or Merger Event, as determined by the Calculation Agent.

		
	Failure to Deliver:
	Applicable

		
	Other applicable provisions:
	If Share Termination Alternative is applicable, the provisions of Sections 9.8, 9.9 and 9.11 (as modified above) of the Equity Definitions and the provisions set forth opposite the caption “Representation and Agreement” in Section 2 will be applicable, except that all references in such provisions to “Physically-settled” shall be read as references to “Share Termination Settled” and all references to “Shares” shall be read as references to “Share Termination Delivery Units”.  “Share Termination Settled” in relation to the Transaction means that the Share Termination Alternative is applicable to the Transaction.

		
	(l)
	Waiver of Jury Trial.  Each party waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of any suit, action or proceeding relating to the Transaction.  Each party (i) certifies that no representative, agent or attorney of either party has represented, expressly or otherwise, that such other party 

25

EXECUTION VERSION

would not, in the event of such a suit, action or proceeding, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other party have been induced to enter into the Transaction, as applicable, by, among other things, the mutual waivers and certifications provided herein.
		
	(m)
	Registration.  Counterparty hereby agrees that if, in the good faith reasonable judgment of Dealer, the Shares (“Hedge Shares”) acquired by Dealer for the purpose of hedging its obligations pursuant to the Transaction cannot be sold in the public market by Dealer without registration under the Securities Act, Counterparty shall (or shall cause Issuer to), at its election, either (i) in order to allow Dealer to sell the Hedge Shares in a registered offering, make available to Dealer an effective registration statement under the Securities Act and enter into an agreement, in form and substance satisfactory to Dealer, substantially in the form of an underwriting agreement for a registered secondary offering; provided, however, that if Dealer, in its sole reasonable discretion, is not satisfied with access to due diligence materials, the results of its due diligence investigation, or the procedures and documentation for the registered offering referred to above, then clause (ii) or clause (iii) of this paragraph shall apply at the election of Counterparty, (ii) in order to allow Dealer to sell the Hedge Shares in a private placement, enter into a private placement agreement substantially similar to private placement purchase agreements customary for private placements of equity securities, in form and substance satisfactory to Dealer (in which case, the Calculation Agent shall make any adjustments to the terms of the Transaction that are necessary, in its reasonable judgment, to compensate Dealer for any discount from the public market price of the Shares incurred on the sale of Hedge Shares in a private placement), or (iii) purchase the Hedge Shares from Dealer at the Relevant Price on such Exchange Business Days, and in the amounts, requested by Dealer.

		
	(n)
	Tax Disclosure.  Effective from the date of commencement of discussions concerning the Transaction, Counterparty and each of its employees, representatives, or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses) that are provided to Counterparty relating to such tax treatment and tax structure.

		
	(o)
	Right to Extend.  Dealer may postpone or add, in whole or in part, any Valid Day or Valid Days during the Settlement Averaging Period or any other date of valuation, payment or delivery by Dealer, with respect to some or all of the Options hereunder, if Dealer reasonably and in good faith determines, based on the advice of counsel in the case of the immediately following clause (ii), that such action is reasonably necessary or appropriate (i) to preserve Dealer’s commercially reasonable hedging or hedge unwind activity hereunder in light of existing liquidity conditions or (ii) to enable Dealer to effect transactions with respect to Shares in connection with its commercially reasonable hedging, hedge unwind or settlement activity hereunder in a manner that would, if Dealer were Issuer or an affiliated purchaser of Issuer, be in compliance with applicable legal, regulatory or self-regulatory requirements, or with related policies and procedures applicable to Dealer.

26

EXECUTION VERSION

		
	(p)
	Securities Contract; Swap Agreement.  The parties hereto intend for (i) the Transaction to be a “securities contract” and a “swap agreement” as defined in the Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”), and the parties hereto to be entitled to the protections afforded by, among other Sections, Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of the Bankruptcy Code, (ii) a party’s right to liquidate the Transaction and to exercise any other remedies upon the occurrence of any Event of Default under the Agreement with respect to the other party to constitute a “contractual right” as described in the Bankruptcy Code, and (iii) each payment and delivery of cash, securities or other property hereunder to constitute a “margin payment” or “settlement payment” and a “transfer” as defined in the Bankruptcy Code.

		
	(q)
	Notice of Certain Other Events.  Counterparty covenants and agrees that:

		
	(i)
	promptly following the public announcement of the results of any election by the holders of Shares with respect to the consideration due upon consummation of any Merger Event, Counterparty shall give Dealer written notice of the types and amounts of consideration that holders of Shares have elected to receive upon consummation of such Merger Event (the date of such notification, the “Consideration Notification Date”); provided that in no event shall the Consideration Notification Date be later than the date on which such Merger Event is consummated; and

		
	(ii)
	promptly following any adjustment to the Convertible Notes in connection with any Potential Adjustment Event, Merger Event or Tender Offer, Counterparty shall give Dealer written notice of the details of such adjustment.

		
	(r)
	Wall Street Transparency and Accountability Act.  In connection with Section 739 of the Wall Street Transparency and Accountability Act of 2010 (“WSTAA”), the parties hereby agree that neither the enactment of WSTAA or any regulation under the WSTAA, nor any requirement under WSTAA or an amendment made by WSTAA, shall limit or otherwise impair either party’s otherwise applicable rights to terminate, renegotiate, modify, amend or supplement this Confirmation or the Agreement, as applicable, arising from a termination event, force majeure, illegality, increased costs, regulatory change or similar event under this Confirmation, the Equity Definitions incorporated herein, or the Agreement (including, but not limited to, rights arising from Change in Law, Hedging Disruption, Increased Cost of Hedging, an Excess Ownership Position, or Illegality (as defined in the Agreement)).

		
	(s)
	Agreements and Acknowledgements Regarding Hedging.  Counterparty understands, acknowledges and agrees that:  (A) at any time on and prior to the Expiration Date, Dealer and its affiliates may buy or sell Shares or other securities or buy or sell options or futures contracts or enter into swaps or other derivative securities in order to adjust its hedge position with respect to the Transaction; (B) Dealer and its affiliates also may be active in the market for Shares other than in connection with hedging activities in relation to the Transaction; (C) Dealer shall make its own determination as to whether, when or in what manner any hedging or market activities in securities of Issuer shall be conducted and shall do so in a manner that it deems appropriate to hedge its price and market risk with respect to the Relevant Prices; 

27

EXECUTION VERSION

and (D) any market activities of Dealer and its affiliates with respect to Shares may affect the market price and volatility of Shares, as well as the Relevant Prices, each in a manner that may be adverse to Counterparty.
		
	(t)
	Early Unwind.  In the event the sale of the “Securities” (as defined in the Placement Agency Agreement) is not consummated with the Placement Agent for any reason by 5:00 p.m. (New York City time) on the Premium Payment Date, or such later date as agreed upon by the parties (the Premium Payment Date or such later date, the “Early Unwind Date”), the Transaction shall automatically terminate (the “Early Unwind”) on the Early Unwind Date and (i) the Transaction and all of the respective rights and obligations of Dealer and Counterparty under the Transaction shall be cancelled and terminated and (ii) each party shall be released and discharged by the other party from and agrees not to make any claim against the other party with respect to any obligations or liabilities of the other party arising out of and to be performed as Hedging Positions in respect of this Transaction either prior to or after the Early Unwind Date.  Each of Dealer and Counterparty represents and acknowledges to the other that, upon an Early Unwind, all obligations with respect to the Transaction shall be deemed fully and finally discharged.

		
	(u)
	Designation of Dealer.  Notwithstanding any other provision in this Confirmation to the contrary requiring or allowing Dealer to purchase, sell, receive or deliver any Shares or other securities to or from Issuer, Dealer may designate any of its affiliates to purchase, sell, receive or deliver such Shares or other securities and otherwise to perform Dealer obligations in respect of the Transaction and any such designee may assume such obligations.  Dealer shall be discharged of its obligations to Counterparty to the extent of any such performance.

		
	(v)
	Non-US Merger Transactions.  Issuer shall not enter into or consummate any Non-US Merger Transaction unless the successor Issuer immediately following such Non-US Merger Transaction repeats to Dealer immediately following such Non-US Merger Transaction the representations and warranties set forth in Sections 8(a), 8(b), 8(c) and 8(d) of this Confirmation (as if references therein to (i) “execute, deliver” were replaced with “assume”, (ii) “execution, delivery” and “execution and delivery” were replaced with “assumption” and (iii) “executed and delivered” were replaced with “assumed”).  

Notwithstanding anything to the contrary in this Confirmation if (1) Issuer enters into or consummates any Non-US Merger Transaction pursuant to which Issuer following such Non-US Merger Transaction is organized under the laws of a jurisdiction other than the Islands of Bermuda, the Netherlands, Belgium, Switzerland, Luxembourg, the Republic of Ireland, Canada or the United Kingdom, (2) Counterparty ceases to be a corporation organized under the laws of the Netherlands, the United States, any State thereof or the District of Columbia that is a wholly-owned subsidiary of Issuer, or (3) Issuer enters into or consummates any Non-US Merger Transaction and does not comply with the requirements of the immediately previous paragraph of this Section 9(v), then such transaction or event shall constitute an Additional Termination Event applicable to the Transaction and, with respect to such Additional Termination Event, (A) Counterparty shall be deemed to be the sole Affected Party, (B) the Transaction shall be the sole Affected 

28

EXECUTION VERSION

Transaction and (C) Dealer shall be the party entitled to designate an Early Termination Date pursuant to Section 6(b) of the Agreement.  
If, at any time following the occurrence of any Non-US Merger Transaction, Dealer determines in good faith that (x) such Non-US Merger Transaction has had an adverse effect on Dealer’s rights and obligations under the Transaction or (y) Dealer would incur an increased amount of tax, duty, expense or fee to (1) acquire, establish, re-establish, substitute, maintain, unwind or dispose of any transaction(s) or asset(s) it deems necessary to hedge the economic risk of entering into and performing its obligations with respect to the Transaction, or (2) realize, recover or remit the proceeds of any such transaction(s) or asset(s) (each of the events described in clause (x) and clause (y) above, a “Non-US Merger Event”), then, in either case, Dealer shall give notice to Counterparty of such Non-US Merger Event.  Concurrently with delivering such notice, Dealer shall give notice to Counterparty of a Price Adjustment that Dealer reasonably and in good faith determines appropriate to account for the economic effect on the Transaction of such Non-US Merger Event (unless Dealer determines that no Price Adjustment will produce a commercially reasonably result, in which case Dealer shall so notify Counterparty).  Unless Dealer determines in good faith that no Price Adjustment will produce a commercially reasonably result, within one Scheduled Trading Day of receipt of such notice, Counterparty shall notify Dealer that it elects to (A) agree to amend the Transaction to take into account such Price Adjustment or (B) pay Dealer the amount determined by Dealer that corresponds to such Price Adjustment (and, in each case, Counterparty shall repeat the representation set forth in Section 8(f) of this Confirmation (which representation is confirmed to Dealer in writing by Issuer, if other than Counterparty) as of the date of such election).  If Counterparty fails to give such notice to Dealer of its election in accordance with the foregoing by the end of that first Scheduled Trading Day, or if Dealer determines that no Price Adjustment will produce a commercially reasonably result, then such failure or such determination, as the case may be, shall constitute an Additional Termination Event applicable to the Transaction (it being understood that in the case of a Non-US Merger Event solely pursuant to clause (x) of the definition thereof, such determination shall constitute an Additional Termination Event only if the relevant adverse effect may have a material impact on Dealer’s rights and obligations under the Transaction, as determined by Dealer in good faith) and, with respect to such Additional Termination Event, (1) Counterparty shall be deemed to be the sole Affected Party, (2) the Transaction shall be the sole Affected Transaction and (3) Dealer shall be the party entitled to designate an Early Termination Date pursuant to Section 6(b) of the Agreement.  
For the avoidance of doubt, the parties hereto agree and acknowledge that (I) the occurrence of an Non-US Merger Event shall not preclude the occurrence of one or more additional, subsequent Non-US Merger Events and (II) if a Non-US Merger Event occurs, Dealer will determine, in its sole discretion, whether to exercise its rights under the provisions of this Section 9(v) and/or the rights and remedies of 

29

EXECUTION VERSION

Dealer and its affiliates under any other provision of this Confirmation, the Equity Definitions and the Agreement.
		
	(w)
	Tax Forms.  Counterparty shall provide to Dealer a valid U.S. Internal Revenue Service (“IRS”) Form W-8BEN-E on or before the date of execution of this Confirmation and will promptly tender an updated IRS Form W-8BEN-E or other applicable IRS Form if the previously tendered IRS Form W-8BEN-E becomes obsolete or incorrect.  Dealer shall provide Counterparty a valid IRS Form W-9 on or before the date of execution of this Confirmation and will promptly tender an updated IRS Form W-9 or applicable IRS Form if the previously tendered IRS Form becomes obsolete or incorrect.

		
	(x)
	FATCA.    “Indemnifiable Tax” as defined in Section 14 of this Agreement shall not include any U.S. federal withholding tax imposed or collected pursuant to Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code (a “FATCA Withholding Tax”). For the avoidance of doubt, a FATCA Withholding Tax is a Tax the deduction or withholding of which is required by applicable law for the purposes of Section 2(d) of this Agreement.

		
	(y)
	Section 871 (m).  Dealer and Counterparty hereby agree that this Agreement shall be treated as a Covered Master Agreement (as that term is defined in the 2015 Section 871(m) Protocol) and this Agreement shall be deemed to have been amended in accordance with the modifications specified in the Attachment to the 2015 Section 871(m) Protocol.

		
	(z)
	2013 EMIR Portfolio Reconciliation, Dispute Resolution and Disclosure Protocol.  The parties agree that terms of the 2013 EMIR Portfolio Reconciliation, Dispute Resolution and Disclosure Protocol published by ISDA on July 19, 2013 (“Protocol”) apply to the Agreement as if the parties had adhered to the Protocol without amendment.  In respect of the Attachment to the Protocol, (i) the definition of “Adherence Letter” shall be deemed to be deleted and references to “Adherence Letter” shall be deemed to be to this Section (and references to “such party’s Adherence Letter” and “its Adherence Letter” shall be read accordingly), (ii) references to “adheres to the Protocol” shall be deemed to be “enters into this Amendment”, (iii) references to “Protocol Covered Agreement” shall be deemed to be references to the Agreement (and “each Protocol Covered Agreement” shall be read accordingly), (iv) references to “Implementation Date” shall be deemed to be references to the date of this Amendment, and (v) the term “the parties” shall be construed as referring to Dealer and the Counterparty.  For the purposes of this Section:

		
	(i)
	Dealer is a Portfolio Data Sending Entity and the Counterparty is a Portfolio Data Receiving entity;

		
	(ii)
	The Local Business Days for such purposes in relation to Dealer are London and in relation to Counterparty are New York and Amsterdam;

30

EXECUTION VERSION

		
	(iii)
	The provisions in this section shall survive the termination of the Transaction; and

		
	(iv)
	The following are the applicable email addresses.

Portfolio Data:            Dealer: edg_notices@jpmorgan.com
Counterparty: jim.lightman@wmt.com
Notice of discrepancy:    Dealer: edg_notices@jpmorgan.com
Counterparty: jim.lightman@wmt.com
Dispute Notice:        Dealer: edg_notices@jpmorgan.com
Counterparty: jim.lightman@wmt.com

[Remainder of page left blank intentionally.]

31

EXECUTION VERSION

Please confirm that the foregoing correctly sets forth the terms of our agreement by executing this Confirmation and returning by email to Dealer.
Very truly yours,
J.P. Morgan Securities LLC, as agent for JPMorgan Chase Bank, National Association
By:  /s/ Sudheer Tegulapalle    
Authorized Signatory
Name:    Sudheer Tegulapalle
Managing Director

32

EXECUTION VERSION

Accepted and confirmed
as of the Trade Date:
WRIGHT MEDICAL GROUP N.V.

By:  /s/ Lance A. Berry    
Name:  Lance A. Berry
Title:     Senior Vice President and 
 Chief Financial Officer

33

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