Document:

LVB Acquisition Management Shareholder Agreement

 Exhibit 10.30 
 EXECUTION COPY 
 LVB ACQUISITION, INC. 
 MANAGEMENT STOCKHOLDERS’ AGREEMENT 
 MANAGEMENT STOCKHOLDERS’ AGREEMENT (this “Agreement”), dated as of September 13, 2007, between LVB Acquisition, Inc. (the “Company”), the Majority Stockholder (as defined below) and each
individual listed on Exhibit A attached hereto (the “Management Stockholder”). 
 WHEREAS, the Management Stockholder may be
the owner of shares of common stock of the Company, $0.01 par value per share (“Common Stock”) and/or may be granted options to purchase Common Stock (the “Options”), pursuant to the LVB Acquisition, Inc. Management
Equity Incentive Plan (the “Plan”); and 
 WHEREAS, as a condition to the issuance of any shares of Common Stock by the
Company to the Management Stockholder, the Management Stockholder is required to execute this Agreement; and 
 WHEREAS, the Management
Stockholder, the Majority Stockholder and the Company desire to enter into this Agreement and to have this Agreement apply to any shares of Common Stock acquired by the Management Stockholder from whatever source (in the aggregate, the
“Shares”); 
 NOW THEREFORE, in consideration of the premises hereinafter set forth, and other good and valuable
consideration, the receipt of which is hereby acknowledged, the parties hereto agree as follows. 
 1. Definitions. As used in this
Agreement, the following capitalized terms shall have the following meanings: 
 (a) “Affiliate” shall mean, with respect to
any entity, any other corporation, organization, association, partnership, sole proprietorship or other type of entity, whether incorporated or unincorporated, directly or indirectly controlling or controlled by or under direct or indirect common
control with such entity. 
 (b) “Board” shall mean the Board of Directors of the Company or any committee appointed by the
Board to administer the Plan pursuant to the terms of the Plan. 
 (c) “Cause”, when used in connection with the termination
of a Management Stockholders’ Employment, shall have the meaning set forth in any effective employment agreement or, if none, shall mean, unless otherwise provided in any applicable stock option grant agreement entered between the Company and
the Management Stockholder with respect to any Options that may be granted under the Plan, the termination of the Management Stockholder’s Employment with the Company and all Affiliates on account of (i) a failure of the Management
Stockholder to substantially perform his or her duties (other than as a result of physical or mental illness or injury) that has continued after Biomet, Inc. or the Company has provided written notice of such failure and the Management Stockholder
has not cured such failure within 30 days 

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

  

 2 

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

 (e) “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 (f) “Disability” shall mean, unless otherwise provided in any applicable stock option grant agreement entered between the Company and
the Management Stockholder with respect to any Options that may be granted under the Plan, effective employment agreement or other written agreement, a permanent disability as defined in the Company’s or an Affiliate’s disability plans, or
as defined from time to time by the Company, in its discretion. 
 (g) “Effective Time” shall have the meaning set forth in
the Merger Agreement. 
 (h) “Employment” shall mean employment with the Company or any Affiliate and shall include the
provision of services as a director or consultant for the Company or any Affiliate. “Employee” and “Employed” shall have correlative meanings. 
 (i) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
 (j) “Fair Market Value” shall mean, as of any date: 
 i. prior to the occurrence of an Initial Public Offering, the value per share of Common Stock determined pursuant to a valuation made in good faith by the Board and based upon a reasonable valuation method; or

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

  

 3 

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

 (o) “Option Shares” shall mean Shares acquired through the exercise of Options. 
 (p) “Person” means an individual, partnership, corporation, limited liability company, unincorporated organization, trust or joint
venture, or a governmental agency or political subdivision thereof. 
 (q) “Rollover Shares” shall mean Shares acquired
through the rollover of shares in Biomet, Inc. and/or the investment of cash pursuant to the Rollover Agreement attached hereto as Exhibit B or through a similar one-time opportunity to purchase Shares. 
 (r) “Securities Act” shall mean the Securities Act of 1933, as amended. 
  

 4 

 (s) “Transfer” shall mean any transfer, sale, assignment, gift, testamentary transfer,
pledge, hypothecation or other disposition of any interest. “Transferee” and “Transferor” shall have correlative meanings. 
 2. Investment; Issuance of Shares. 
 (a) The Management Stockholder represents that the Shares are
being acquired for investment and not with a view toward the distribution thereof. 
 (b) Issuance of Shares. The Management
Stockholder acknowledges and agrees that the certificate for the Shares shall bear the following legends (except that the second paragraph of this legend shall not be required after the Shares have been registered and except that the first paragraph
of this legend shall not be required after the termination of this Agreement): 
 The shares represented by this certificate are subject
to the terms and conditions of a Management Stockholders’ Agreement dated as of September 13, 2007 and may not be sold, transferred, hypothecated, assigned or encumbered, except as may be permitted by the aforesaid Agreement. A copy of the
Management Stockholders’ Agreement may be obtained from the Secretary of the Company. 
 The shares represented by this
certificate have not been registered under the Securities Act of 1933. The shares have been acquired for investment and may not be sold, transferred, pledged or hypothecated in the absence of an effective registration statement for the shares under
the Securities Act of 1933 or an opinion of counsel for the Company that registration is not required under said Act. 
 Upon the
termination of this Agreement, or upon registration of the Shares under the Securities Act, the Management Stockholder shall have the right to exchange any Shares containing the above legend (i) in the case of the registration of the Shares,
for Shares legended only with the first paragraph described above and (ii) in the case of the termination of this Agreement, for Shares legended only with the second paragraph described above. 
 3. Transfer of Shares; Lock-Up; Call Rights; Put Rights. 
 (a) Transfer and Lock-Up of Shares. 
 (i) The Management Stockholder agrees that he or she will not
cause or permit the Shares or his or her interest in the Shares to be sold, transferred, hypothecated, assigned or encumbered except as expressly permitted by this Section 3; provided, however, that the Shares or any such interest
may be Transferred (A) on the Management Stockholder’s death by bequest or inheritance to the Management Stockholder’s executors, administrators, testamentary trustees, legatees or beneficiaries, (B) with the prior written
consent of the Board (which consent shall not be unreasonably withheld), during the Management Stockholder’s 

  

 5 

 
lifetime for estate planning purposes and (C) in accordance with Section 4 of this Agreement, subject in each case to (x) paragraph
(ii) of this Section 3(a), (y) compliance with all applicable tax, securities and other laws and (z) the agreement by each Transferee (other than the Company or as otherwise permitted by the Company) in writing to be bound by the
terms of this Agreement as if such Transferee had been an original signatory hereto and provided in any such case that, in the case of a Transfer pursuant to clauses (A) or (B) above, such Transfer will not be permitted if it would
cause the Company to be required to register the Common Stock under Section 12(g) of the Exchange Act. 
 (ii) The Management
Stockholder agrees that, notwithstanding any provision in this Agreement to the contrary, he or she will not, without the prior written consent of the Board, during the period following an Initial Public Offering or any secondary registered equity
offering during which the Majority Stockholders are subject to underwriter-imposed restrictions on the transfer of shares of Common Stock (the “Lock-Up Period”), (A) offer, pledge, announce the intention to sell, sell, contract
to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any Shares, Options or other securities
convertible into or exercisable or exchangeable for Common Stock (including without limitation, Common Stock which may be deemed to be beneficially owned by such Management Stockholder in accordance with the rules and regulations of the Securities
and Exchange Commission) or (B) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause (A) or
(B) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise, provided that such restrictions shall be no more onerous than those applicable to the Majority Stockholders. 
 (iii) If the Company files a registration statement registering shares held by the Majority Stockholder in an Initial Public Offering or any secondary
registered equity offering, then the Management Stockholder or his or her Transferee shall have the right, following expiration of the Lock-Up Period, to sell (subject to Section 4(b)(iii) hereof) a number of Shares of Common Stock, not to
exceed the product of (A) the total number of Shares, including any shares of Common Stock underlying vested Options, owned by the Management Stockholder or Transferee as of the date such registration statement was filed and (B) a
fraction, the numerator of which is the aggregate number of Shares of Common Stock in which the Majority Stockholder has a pecuniary interest that the Company has registered, and the denominator of which is the aggregate number of Shares of Common
Stock in which the Majority Stockholder had a pecuniary interest as of the date such registration statement was filed. 
 (b) Call
Rights. 
 (i) Except as provided in paragraphs (ii) and (iii) of this Section 3(b), in the event the Management
Stockholder’s Employment with the Company terminates for any reason prior to the Agreement Termination Date (as hereinafter defined), the Company (or its designated assignee) shall have the right, during the 180-day period following the later
to occur of (A) such termination of Employment and (B) the date on which the Management Stockholder or Transferee has held the Shares most recently acquired to be sold pursuant to this Section 

  

 6 

 
3(b)(i) for at least six (6) months, to purchase from the Management Stockholder or the Management Stockholder’s Transferee, and upon the exercise
of such right the Management Stockholder or such Transferee shall sell to the Company (or its designated assignee), all or any portion of the Shares held by the Management Stockholder or Transferee as of the date as of which such right is exercised
at a per Share price equal to the Fair Market Value of a share of Common Stock determined as of the date such right is exercised, provided that if such termination of the Management Stockholder’s Employment occurs due to the Management
Stockholder’s death or Disability or is effected by the Company without Cause or by the Management Stockholder for Good Reason, the call right described in this paragraph (i) shall not apply with respect to such Management
Stockholder’s Rollover Shares. 
 (ii) In the event that either the Management Stockholder’s Employment with the Company is
terminated for Cause or the Management Stockholder violates any of the restrictive covenants set forth in the Plan or in any equity award grant agreement under the Plan: 
 (A) in either case prior to the Agreement Termination Date, the Company (or its designated assignee) shall have the right, during the 180-day period following the latest to occur of (x) such termination of
Employment, (y) such violation of a restrictive covenant and (z) the date on which the Management Stockholder or Transferee has held the Shares most recently acquired to be sold pursuant to this Section 3(b)(ii) for at least six
(6) months, to purchase from the Management Stockholder or the Management Stockholder’s Transferee, and upon the exercise of such right the Management Stockholder or such Transferee shall sell to the Company (or its designated assignee),
all or any portion of the Shares held by the Management Stockholder or Transferee as of the date as of which such right is exercised at a per Share price equal to (I) in the case of a Rollover Share, the Fair Market Value of such Share
determined as of the date such right is exercised or (II) in the case of an Option Share, the lesser of (a) the Fair Market Value of a share of Common Stock determined as of the date such right is exercised or (b) the exercise price per
Share paid by the Management Stockholder to acquire such Share; or 
 (B) in either case following the Agreement Termination Date, the
Management Stockholder shall be obligated to pay to the Company an amount equal to the amount which, as a result of such Management Stockholder’s exercise of Options at any time following, or within one year prior to, the date of termination of
his or her Employment, such Management Stockholder was required to recognize as income for U.S. federal income tax purposes (or would have been required to recognize as income if the Management Stockholder was subject to U.S. federal income taxes).

 (iii) In the event that the Management Stockholder resigns from Employment with the Company without Good Reason prior to the fifth
anniversary of the Effective Time, the Company (or its designated assignee) shall have the right, during the 180-day period following the later to occur of (A) such termination of Employment and (B) the date on which the Management
Stockholder or Transferee has held the Shares most recently acquired to be sold pursuant to this Section 3(b)(iii) for at least six (6) months, to purchase from the Management Stockholder or the Management Stockholder’s Transferee,
and upon the exercise of such right the Management Stockholder or such Transferee shall sell to the Company (or its designated assignee), all or any portion of the Shares held by the Management Stockholder or Transferee as of the date as of which
such right is exercised at a per Share price equal to (I) in the case of a 

  

 7 

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

  

 8 

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

  

 9 

 
(“LVB LLC”)), in a single transaction or a series of related transactions, to a good faith independent purchaser (a
“Purchaser”) (other than any other Majority Stockholder, other investment partnership, limited liability company or other entity established for investment purposes and controlled by one or more of the members (other than passive
investors) or the principals of the Majority Stockholder or any of their Affiliates and other than any Employees of the Majority Stockholder or their Affiliates, hereinafter referred to as a “Permitted Transferee”) upon such terms
and conditions as agreed to with the Majority Stockholder, the Management Stockholder or Transferee agrees, at the request of the Majority Stockholder, to sell to such Purchaser a number of its Shares of Common Stock, not to exceed (a) the
number of Shares of Common Stock held by such Management Stockholder or Transferee multiplied by (b) a fraction, the numerator of which is the aggregate number of Shares of Common Stock in which the Majority Stockholder has a pecuniary interest
that such Majority Stockholder has proposed to be transferred, and the denominator of which is the aggregate number of Shares of Common Stock in which the Majority Stockholder has a pecuniary interest (or to vote such number of Shares in favor of
any merger or other transaction which would effect a sale of such Shares) at the same price per share of Common Stock and pursuant to the same terms and conditions with respect to payment for the Shares as agreed to by the Majority Stockholder;
provided that, except with respect to any liability incurred by such Management Stockholder or any Transferee individually, the Management Stockholders and any Transferees shall not be liable to a Purchaser for an amount greater than the
proceeds from the sale. In such case, the Majority Stockholder shall give written notice of such sale to the Management Stockholder or Transferee at least fifteen (15) days prior to the consummation of such sale, setting forth (i) the
consideration to be received by the holders of shares of Common Stock, (ii) the identity of the Purchaser, (iii) any other material terms and conditions of the proposed Transfer and (iv) the date of the proposed Transfer. The Company
shall be responsible for the proportionate share of the costs of the proposed Transfer incurred by the Management Stockholders and any Transferees to the extent not paid or reimbursed by the proposed Purchaser. Notwithstanding the foregoing, the
Management Stockholder shall not be required to agree to any additional non-compete or similar restrictions in connection with the sale. 
 (b) Tag Along Rights. 
 (i) Subject to paragraph (iv) of this Section 4(b), if one or more Majority Stockholder
or its Permitted Transferee proposes to transfer, prior to the Agreement Termination Date, its direct or indirect pecuniary interest (as defined in Rule 16a-1 under the Exchange Act) in any Shares of Common Stock (including through the disposition
of interests in LVB LLC) to a Purchaser (other than a Permitted Transferee), other than a transfer through an Initial Public Offering or any secondary registered equity offering, then the Majority Stockholder or his or her Permitted Transferee
(hereinafter referred to as a “Selling Stockholder”) shall give written notice of such proposed transfer to the Management Stockholder or Transferee (the “Selling Stockholder’s Notice”) at least thirty
(30) days prior to the consummation of such proposed transfer, and shall provide notice to all other stockholders of the Company to whom the Majority Stockholder has granted similar “tag-along” rights (such stockholders together with
the Management Stockholder or Transferee, referred to herein as the “Other Stockholders”) setting forth the proposed material terms and conditions of such Transfer (including price per Share). 
  

 10 

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

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

  

 11 

 
pecuniary interest in any Shares of Common Stock (including through the disposition of interests in LVB LLC) for a price that is equal to or less than the
Fair Market Value of such Share of Common Stock as of the Effective Time unless and until the Majority Stockholder, after giving effect to the proposed sale or transfer, shall have sold or transferred in the aggregate (other than to Permitted
Transferees or to officers, employees or directors of, or consultants to, the Company or any of its subsidiaries) its pecuniary interest in Shares of Common Stock representing 15.0% or more of the Shares of Common Stock in which the Majority
Stockholder collectively had a pecuniary interest as of the Effective Time. 
 (c) Permitted Transferees. Any Permitted Transferee to
which a Majority Stockholder’s pecuniary interest in any Shares of Common Stock (including interests in LVB LLC) is Transferred shall agree to execute this Agreement as a condition to such Transfer. 
 5. Registration. The Company shall have no obligation to register the Shares. 
 6. Termination. This Agreement shall terminate with respect to the Common Stock immediately following the later to occur of (a) an Initial
Public Offering or (b) the fifth anniversary of the Effective Time (the “Agreement Termination Date”) except that (i) if an Initial Public Offering has occurred on or prior to the Agreement Termination Date, and the Lockup
Period has not expired as of the Agreement Termination Date, the requirements of Sections 3(a)(ii) and 5(b) hereof shall survive the termination of this Agreement, (ii) the provisions of Section 3(b)(ii)(B) hereof shall survive the
termination of this Agreement and (iii) the requirements contained in Section 2 hereof shall survive the termination of this Agreement, provided that a Management Stockholder or his or her Transferee may sell Shares pursuant to Rule
144 of the Securities Act if such Management Stockholder or Transferee meets and complies with all of the applicable requirements thereof. 
 7. Acknowledgements of the Management Stockholder, LVB Acquisition Holding, LLC and the Company. 
 (a) The Management
Stockholder acknowledges that the Majority Stockholder will own interests in LVB LLC and will own its shares of Common Stock through LVB LLC, and that the Majority Stockholder will have governance and other rights with respect to the Company that
are different from (and may be greater than) the rights to which the Management Stockholder is entitled. 
 (b) The Company and LVB LLC
hereby acknowledge that the Management Stockholders shall not be economically disadvantaged with respect to the Shares or Options solely by reason of holding shares or options to purchase shares of the Company’s Common Stock instead of
membership interests or options to purchase membership interests in LVB LLC. In the event there is a corporate transaction affecting the membership interests of LVB LLC or any dividend or distribution made to holders of the membership interests in
LVB LLC in respect of such interests, the Company and LVB LLC shall take commercially reasonable steps to assure that appropriate adjustments and/or dividends or distributions are made to or in respect of the Shares such that the Management
Stockholders will be in the same economic position in which they would have been had they received membership interests in LVB LLC instead of the 

  

 12 

 
Shares; provided that this Section 7 shall not be construed to entitle any Management Stockholder to any membership or other interests in LVB
LLC. For purposes of this Agreement, no Management Stockholder shall be deemed to be economically disadvantaged from a tax perspective by reason of his holding Options or Shares as opposed to membership interests in a limited liability company or
partnership interests in a partnership. 
 8. Distributions With Respect To Shares. As used herein, the term “Shares”
includes securities of any kind whatsoever distributed with respect to the Company’s Common Stock acquired by the Management Stockholder or his or her or her Transferee (whether pursuant to the Plan, the letter agreement dated on or about
August 27, 2007 between the Company and such Management Stockholder or otherwise) or any such securities resulting from a stock split or consolidation involving such Common Stock. 
 9. Amendment; Assignment. This Agreement may be amended, superseded, canceled, renewed or extended, and the terms hereof may be waived, only by a
written instrument signed by authorized representatives of the parties or, in the case of a waiver, by an authorized representative of the party waiving compliance. No such written instrument shall be effective unless it expressly recites that it is
intended to amend, supersede, cancel, renew or extend this Agreement or to waive compliance with one or more of the terms hereof, as the case may be. Except for the Management Stockholder’s right to assign his or her rights under
Section 4(a) or the Company’s right to assign its rights under Section 4(b), no party to this Agreement may assign any of its rights or obligations under this Agreement without the prior written consent of the other parties hereto.

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

 With a copy to: 
 Cleary Gottlieb Steen & Hamilton LLP 
 One Liberty Plaza 
 New York, NY 10006 
 Attention: Robert J.
Raymond 
 If to the Company, to: 
 LVB Acquisition, Inc. 
 c/o Biomet, Inc. 
 P.O. Box 587 
 Warsaw, Indiana 46581-0587,
U.S.A. 
 Attention: General Counsel 
  

 13 

 With a copy to: 
 Cleary Gottlieb Steen & Hamilton LLP 
 One Liberty Plaza 
 New York, NY 10006 
 Attention: Robert J.
Raymond 
 If to the Management Stockholder, to its most recent address shown on records of the Company or its Affiliate; 

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

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

  

 14 

			
	LVB ACQUISITION, INC.
		
	By:	 	 
		 	 Name:
 Title:

  

			
	LVB ACQUISITION HOLDINGS, LLC
		
	By:	 	 
		 	 Name:
 Title:

			
	BLACKSTONE CAPITAL PARTNERS V L.P.
		
	By:	 	 
		 	 Name:
 Title:

  

			
	GS CAPITAL PARTNERS VI PARALLEL, L.P.
		
	By:	 	 
		 	 Name:
 Title:

  

			
	GS CAPITAL PARTNERS VI GMBH & CO. KG
		
	By:	 	 
		 	 Name:
 Title:

  

			
	GS CAPITAL PARTNERS VI FUND, L.P.
		
	By:	 	 
		 	 Name:
 Title:

  

			
	GS CAPITAL PARTNERS VI OFFSHORE FUND, L.P.
		
	By:	 	 
		 	 Name:
 Title:

			
	KKR 2006 FUND L.P.
		
	By:	 	 
		 	 Name:
 Title:

  

			
	TPG PARTNERS V, L.P.
		
	By:	 	 
		 	 Name:
 Title:

 I hereby represent that I have carefully read and understand, and agree to be bound by, the terms of the LVB Acquisition,
Inc. Management Stockholders’ Agreement dated as of September 13, 2007. 
 Agreed to and Accepted by: 

                                       
                                         
                                         
                       
 Signature 
                                        
                                         
                                         
                       
 Date 
  
  
 Please print your name and address: 
                                        
                                         
                                         
                       
                                        
                                         
                                         
                       
                                        
                                         
                                         
                       
                                        
                                         
                                         
                       

 
would have been entitled absent an election to invest in the Shares. The Rollover Shares so contributed will be canceled and retired without any conversion
thereof or payment or distribution thereon, as set forth in Section 4.1 of the Merger Agreement. In exchange for the Rollover Shares and your Cash Contribution, you will receive a number of Shares equal to the amount of your investment as
indicated on the Acceptance Form attached hereto, divided by $10, which is equal to the price per Share to be paid by the Majority Holders (as defined below) for their Shares. You will be the holder of record of the Shares in which you invest as of
the Closing, whether or not Newco issues physical certificates to you for such Shares. This offer is conditioned upon the occurrence of the Closing. If the Closing does not occur, this Agreement will be canceled and will be of no force and effect.

 3. Form of Consideration. If you choose to invest in the Shares, (i) you must commit to invest a minimum of $50,000 and (ii) you must
then satisfy your investment (a) with respect to any Rollover Shares you invest, by contributing all or a portion of Biomet shares of common stock that you hold as a capital asset (e.g., shares you acquired on the market or shares you acquired
by exercising stock options), if any, and/or (b) by making your Cash Contribution, if any. Your Cash Contribution must be received by wire transfer by no later than 5:00 p.m. (Five p.m., Eastern Daylight Savings Time) on Monday,
September 17, 2007 (wire information will be provided to you). Delivery of any Rollover Shares will occur as follows: (x) with respect to Rollover Shares, if any, for which physical certificates were delivered to you, by delivering to
LVB the physical certificates that were so issued; and (y) with respect to Rollover Shares you hold through a brokerage account, by having the brokerage firm by which such Rollover Shares are held transfer those Rollover Shares to an account
established in Newco’s name (the “Newco Account”) (transfer instructions will be provided to you). Delivery of physical certificates for Rollover Shares (if any) must be made via Federal Express or United Parcel Service
(UPS) to LVB Acquisition, Inc., c/o Bradley J. Tandy, Senior Vice President, General Counsel & Secretary, Biomet, Inc., 56 East Bell Drive, Warsaw, IN 46582, U.S.A., by no later than 5:00 p.m. (Five p.m., Eastern Daylight Savings Time) on
Monday, September 17, 2007. Rollover Shares that are being electronically transferred (if any) must be credited to the Newco Account by no later than 5:00 p.m. (Five p.m., Eastern Daylight Savings Time) on Monday, September 17,
2007, which means that you should instruct your broker to initiate the transfer no later than 4:00 pm. on Monday, September 17, 2007. The Rollover Shares should not be transferred prior to Monday, September 17, 2007. 

 4. Acceptance and Closing; Conditions. You may accept this offer and the terms of this Agreement by completing and returning the Acceptance Form
attached hereto, in which case the closing of your acquisition of the Shares will occur immediately after the Closing. This offer is conditioned upon the occurrence of the Closing. If the Closing does not occur on or before October 31, 2007
(the “Closing Deadline”), this Agreement will be canceled and you will have no rights with respect hereto and any Rollover Shares that you have transferred or cash payment that you have made pursuant to Section 3 will be
returned to you within 3 business days of the Closing Deadline; provided, that if Newco determines on or before the Closing Deadline and in good faith that the Closing is likely to occur on or before November 30, 2007, the Closing
Deadline shall automatically be extended to November 30, 2007. 

 5. Limitation. Newco, in its discretion, may limit the number of Shares that you may purchase, and therefore may
choose not to accept the full amount of your investment election. Rollover Shares not accepted pursuant to the preceding sentence will be treated in accordance with the provisions of the Merger Agreement. 
 6. Vesting. Your Shares when issued will be fully vested. 
 7.
Stockholders’ Agreement. By completing and returning the Acceptance Form below, you agree to become a party to the Management Stockholders’ Agreement, as may be amended from time to time in accordance with its terms (the
“Stockholders’ Agreement”) and you will be subject to the terms and conditions thereof with respect to your Shares. The Stockholders’ Agreement will be provided to you a reasonable time prior to September 14, 2007.
Newco agrees that it will, and that it will cause the Majority Holders (as defined below) to, also become a party to the Stockholders’ Agreement. 
 8.
Tax Reporting. It is intended that your contribution of the Rollover Shares, if any, shall be treated as a tax-free transfer under Section 351 of the Internal Revenue Code of 1986, as amended (the “Code”), which transfer
encompasses the original transfer of cash by LVB Acquisition Holding, LLC to LVB Acquisition, Inc. (formerly LVB Acquisition, LLC) in connection with the transactions contemplated by the Merger Agreement and the transfers by you and other members of
management of Cash Contributions (if any) and Rollover Shares (if any), and Newco and Biomet will report, and will procure that their respective affiliates report, consistently with such treatment. 
 All discussions of U.S. federal tax considerations in this document have been written to support the marketing of the Shares. Such discussions were
not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding U.S. federal tax penalties. You should consult your own tax advisers in determining the tax consequences of the rollover and of holding the Shares,
including the application to your particular situation of the U.S. federal tax considerations discussed herein, as well as the application of state, local, foreign, or other tax laws. 
 9. Representations; Acknowledgements. By signing below and completing and returning the Acceptance Form, you hereby represent and warrant to Newco and Biomet
that: 
 (i) you have the requisite power, authority and capacity to execute this Agreement and to deliver or cause to be delivered the
Rollover Shares, to perform your obligations under this Agreement and to consummate the transactions contemplated hereby; 
 (ii) none of
(A) you, (B) your spouse, child or other family member, (C) any member of your household, (D) any person who is financially dependent on you or (E) any other holder of any Biomet security that you could be deemed to
beneficially own for purposes of the Securities Exchange Act of 1934, as amended (i.e., because you benefit or have the opportunity to benefit from the holder’s ownership of the security or because you exercise some influence over the purchase,
sale or voting of the security) has (x) tendered in the Offer (as defined in the Merger Agreement) any Biomet security or (y) directed any trustee to tender in the Offer any Biomet 

 
security that is held in trust for the benefit of any person listed in clauses (A) through (E) of this paragraph (ii) (including but not
limited to any security held through a 401(k) plan); 
 (iii) the Acceptance Form has been duly and validly executed and delivered by you and
constitutes your legal, valid and binding obligation, enforceable against you in accordance with its terms, except to the extent that such validly binding effect and enforceability may be limited by applicable bankruptcy, reorganization, insolvency,
moratorium and other laws relating to or affecting creditors’ rights generally; 
 (iv) the Shares are being acquired for your own
account, for investment purposes only and not with a view to or in connection with any distribution, reoffer, resale, public offering or other disposition thereof not in compliance with the Securities Act of 1933, as amended (the “Securities
Act”), as may be amended from time to time, or any applicable United States federal or state securities laws or regulations; 
 (v)
you possess expertise, knowledge, and sophistication in financial and business matters generally, and in the type of transaction in which Biomet and Newco propose to engage in particular; 
 (vi) you have had access to all of the information and individuals with respect to the Shares and your investment that you deem necessary to make a
complete evaluation thereof; 
 (vii) you have had an opportunity to consult an independent tax and legal advisor and your decision to
acquire the Shares for investment has been based solely upon your evaluation; 
 (viii) you are aware that the Internal Revenue Service or
other relevant taxing authority may take a position regarding the rollover contemplated in this Agreement and/or the tax classification of Newco and the Shares contrary to that intended by Newco as provided in this Agreement and you shall be solely
responsible for any and all tax or other liabilities that may result from the IRS’s or other relevant taxing authority’s position; and 
 (ix) you are aware that the Stockholders’ Agreement provides significant restrictions on your ability to dispose of the Shares. 
 You further represent and warrant to Newco and Biomet that you 
  

	 	 ̈	are 

 OR 
  

	 	 ̈	are not 

 an “accredited investor” as defined in
Rule 501(a) under the Securities Act because you are either: 
  

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

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

 By electing to contribute the Rollover Shares pursuant to
this Agreement, you acknowledge that you are instructing Newco and its affiliates to distribute to you, following the Closing, Shares in Newco instead of cash, as described above, and you hereby acknowledge that you do not have, and will not assert
that you have, any claim against Newco, the Majority Holders (as defined below) or their respective affiliates to receive the Merger Consideration or any other payment in exchange for the Rollover Shares, except as contemplated herein.

 You acknowledge and agree that if, following the date you purchase Shares pursuant to this Agreement, we determine that any of the
representations made by you under this Section 9 is inaccurate, the sale of Shares to you pursuant to this Agreement (whether purchased with Rollover Shares and/or a Cash Contribution) shall be rescinded and the transfer of such Shares to you
shall be deemed null and void. 
 The “Majority Holders” shall mean, collectively or individually as the context
requires, Blackstone Group, L.P., The Goldman Sachs Group, Inc., Kohlberg Kravis Roberts & Co., TPG Capital, L.P. and their respective affiliates. 
 10. Other Biomet Interests. You acknowledge that any other equity or equity-based interests that you hold in Biomet that you do not elect to roll over, or which are not accepted for rollover for any reason pursuant to this Agreement,
will be treated in accordance with the Merger Agreement. 
 11. Governing Law. All questions concerning the construction, validity and interpretation
of this Agreement will be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision or rule that would cause the application of the laws of any
jurisdiction other than the State of Delaware. 
 12. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall
be deemed to be an original and all of which together shall be deemed to be one and the same instrument. 
 *            *            *            *   
         * 
 [Signature Page Follows] 

 Please sign your name on the space provided below and please indicate whether and how you would like to invest in
Newco by completing and executing the Acceptance Form attached to the end of this Agreement. Please return an executed copy of this Agreement and the Acceptance Form in original form or by FAX no later than 5 p.m. (Five p.m., Eastern Daylight
Savings Time) on Friday, September 14, 2007 to the attention of Brad Tandy. The fax number is (574) 372-1960. (If you fax your election form on Friday, September 14, 2007, the original should be delivered to Brad Tandy no later than
Monday, September 17, 2007). 
 Sincerely, 
  
 _______________________ 
 By:                                       
   
 Title:                                      
  
 Agreed to and Accepted by: 
  
 _____________________________ 
 Signature 
 Please print your name and address: 
 _____________________________

 _____________________________ 
 _____________________________

 _____________________________ 
  
  
 By execution below, Biomet and its respective affiliates agree to use reasonable
efforts to effect a rollover pursuant to this Agreement as a tax-free distribution under section 351 of the Code, unless otherwise required pursuant to a final determination, as defined in Section 1313 of the Code: 
 _____________________________ 
 for Biomet, Inc. 
 By:                                       
   
 Title:                                      
 

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

Pursuant to the terms and conditions set forth in the letter to me dated August 27, 2007, I,
                                        ,
hereby elect make an investment in Newco and purchase Shares in the amount and manner below: 
 1.
$                    , which will be satisfied through a contribution of
                     Biomet shares (valued at $46 per share). I will cause these shares to be transferred: 
  ̈    By delivering physical certificates for
                     Biomet shares to LVB Acquisition, Inc. via Federal Express or United Parcel Service (UPS); 
 OR 
  ̈
    By instructing my broker,
                                        
(insert name of broker), to electronically transfer                      Biomet shares to LVB Acquisition, Inc. 
 2. $                    , which will be satisfied by wire
transfer (wire instructions to be supplied). 
 Aggregate Investment =
$                     (sum of 1 and 2 above cannot be less than $50,000). 
 _________________________ 
 Signature 
 _______________ 
 DateEX-10.1

Exhibit 10.1

8/25/08 (revised)

VALUEVISION MEDIA, INC.

August 25, 2008

To: John D. Buck

Dear John:

We are pleased to offer you the position of Chief Executive Officer of ValueVision Media, Inc. (the
“Company”). We look forward to your leadership of the Company. The following are the terms and
conditions of your offer:

	 	 	 
	Position Title

	 	Chief Executive Officer (CEO)
	No Fixed Term

	 	There will be no fixed term of your employment as CEO.
	Board Membership

	 	The Board agrees that you will continue as a Director

of the Company and will continue to be included in

the slate of Directors each year nominated by the

Board for election at each annual shareholders

meeting, while you remain as CEO of the Company. You

will continue to serve as Chairman of the Board at

the request of the Board, subject to the Board’s

authority to change such appointment at its

discretion in the future.
	Reports To

	 	Board of Directors — ValueVision Media, Inc.
	Annualized Base Salary

	 	Initially at an annualized rate of $300,000. Your

base salary will be annually reviewed by the Board of

Directors.
	Bonus for Special Board

Service

	 	

$250,000, payable in cash upon first day of employment
	Annual Bonus Opportunity

	 	Your incentive opportunity at the target performance

level(s) will be 75% of your base salary. The annual

incentive plan financial goal(s) are established

annually and approved by the Compensation Committee

of the Board of Directors (the “Committee”). Your

actual incentive payment for fiscal 2008 will be

pro-rated based on your hire date, tied to 2008

performance goals to be set by the Committee.
	Stock Options

	 	Subject to the terms and conditions applicable to

options granted under the Company’s 2001 Omnibus

Stock Plan (the “2001 Plan”) and the 2004 Omnibus

Stock Plan (the “2004 Plan”) and applicable stock

option agreements, you will be granted non-qualified

options as follows:
	Number and exercise prices

	 	The stock options cover 1,000,000 shares of the

Company’s common stock under the 2001 Plan and the

2004 Plan at the following exercise prices: (1)

500,000 shares at $2.36 per share, (2) 250,000 shares

at $6.00 per share and (3) 250,000 shares at $7.00

per share.
	Vesting schedule

	 	50% of the shares vest on the first anniversary of

this letter agreement, or, if earlier, upon Keith R.

Stewart’s appointment as Chief Executive Officer of

the Company; the remaining 50% vest over the next 2

years on a monthly basis, with the vesting split

proportionally among the shares at each exercise

price. Upon termination without Cause (as defined

below) or termination for Good Reason (as defined in

the option agreements) on or before the first

anniversary of the date of this letter agreement, the

first 50% of the shares accelerate and vest. Upon any

termination of employment following the first

anniversary of the date of this letter agreement, the

vesting of the options will not accelerate, and any

unvested options will terminate. Upon the occurrence

of an Event (as defined in the 2001 Plan and the 2004

Plan to include events relating to changes in control

of the Company), all options will accelerate and

vest.
	Exercisability

	 	In the event of any termination of employment (other

than a termination by the company for Cause (as

defined below)), the options may be exercised, to the

extent they were previously vested on that date or

accelerated as a result of such termination, for a

period of one year (not to exceed the original term

of the option). Options will include a forfeiture

provision in the event of violation of restrictive

covenants contained in this letter agreement.
	Definition of Cause

	 	For purposes of the stock option agreements, “Cause”

shall mean:
	
 
	 	(i) a material act or act of fraud which results in

or is intended to result in your personal enrichment

at the expense of Company, including without

limitation, theft or embezzlement from Company; (ii)

public conduct by you substantially detrimental to

the reputation of Company, (iii) material violation

by you of any Company policy, regulation or practice;

(iv) your willful or grossly negligent failure to

adequately perform the duties of your position to the

material detriment of the Company; (v) commission of

criminal misconduct constituting a felony; (vi)

habitual intoxication, drug use or chemical substance

use by any intoxicating or chemical substance;

(vii) a material breach by you of any of the terms

and conditions of this letter agreement, which breach

remains uncured ten (10) days after receipt by you of

written notice of such breach; or (viii) you continue

to materially fail to perform your duties hereunder,

or engage in excessive absenteeism unrelated to

illness or permitted vacation, ten (10) days after a

written demand for performance is delivered to you by

the Board or its representative, which written demand

specifically identifies the manner in which the Board

believes that you have not performed your duties.
	Insurance & Benefits

	 	You will be eligible for the Company’s standard

benefit package. Eligibility and benefits are

governed by the terms of each respective plan, which

the Company may change or terminate at any time.
	No Severance Eligibility

	 	Upon the termination of your employment for any

reason, you will not be entitled to any severance

pay, notwithstanding the terms of any severance

program in effect at that time for officers or

employees of the Company.
	Waiver of Director

Compensation

	 	In consideration of the compensation provided to you

under this letter agreement, you will waive the

compensation you would otherwise have received for

service as a Director and Chairman while you are

serving as the CEO.
	Non-Competition

	 	While you are working for the Company and, if you

voluntarily resign, then also for the Non-competition

Period (defined below) following your departure, you

will not: (i) directly or indirectly own, manage,

control, participate in, be a director, officer or

employee of, lend your name to, act as consultant or

advisor to, render services to, or receive

compensation from, any other person or entity engaged

or seeking to engage in the television home shopping

business (including a television home shopping

channel internet site) anywhere within the United

States; (ii) induce or attempt to induce any

employee of the Company to leave his or her

employment with the Company, or in any other way

interfere with the relationship between the Company

and any other employee of the Company; or (iii)

induce or attempt to induce any customer, vendor,

franchisee, licensee, or other business relation of

the Company to cease doing business with the Company,

or in any way interfere with the relationship between

such party and the Company. For purposes of this

letter agreement, “Non-competition Period” shall mean

the period commencing as of the date of this letter

agreement and ending on the last day of the twelfth

(12th) month following the last day of the month in

which your employment with the Company ends.
	General

	 	Except for the stock option agreements referred to

above, this letter agreement contains the entire

agreement of the parties relating to your employment

arrangements with the Company and supersedes any and

all prior agreements and understandings with respect

to such subject matter. All matters relating to the

interpretation, application, validity and enforcement

of this letter agreement will be governed by the laws

of the State of Minnesota, without regard to that

state’s conflict of laws provisions.

If you agree to the terms of this letter agreement, please indicate your agreement by signing
below.

Sincerely,

VALUEVISION MEDIA, INC.

By      

Its      

Agreed and accepted this

25th day of August, 2008:

     

John D. Buck

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}]]